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Wednesday, June 19, 2024

Functional foods in vogue

By Minh Thao

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Functional foods have become more and more popular nowadays. According to Informa Markets, the functional food market in the Asia-Pacific region attains total value of US$187 billion, and is estimated to reach US$229 billion by 2025, with an annual growth rate of 6%. In Thailand, the functional food market was US$190 billion in 2021, and will reach US$239 billion in 2025, with a growth rate of 9%. High growth rates are also seen in China, Japan, India and Singapore. Jason Foo, senior vice president at Morinaga Nutritional Foods (Japan), told the Saigon Times that given the high interest in healthcare, especially after the Covid-19 pandemic, many people have been looking for functional foods in order to improve their health, prevent diseases, and lengthen their longevity. Given increasing demand, the functional food industry is growing strongly in most countries around the world despite economic difficulties. As forecast by Mordor Intelligence, a market research company, the value of the global functional food market is estimated to increase from US$186.22 billion in 2023 to US$212.85 billion in 2028, with the compound annual growth rate (CAGR) reaching 2.71% in the 2023-2028 period. Jason Foo said functional foods’ target is to help people stay healthy […]
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