With more consumers across the Asia Pacific region, opportunities are aplenty for manufacturers of the general functional foods and sports nutrition markets.
Mathias Kuepper, managing director at Koelnmesse Private Limited, organiser of Thaifex-World of Food Asia (Thaifex), gives an insight to how the Asia Pacific food and beverage industry will change in the coming years, ahead of the event. By Michelle Cheong
Cargill, leading provider of food, agricultural and industrial ingredients, has announced that it will be investing in a number of key specialty starch projects in the Asia Pacific region.
Valuing at US$50 billion in 2014, the global energy drinks market is projected to grow at a CAGR of 3.5 percent between 2015 and 2020, according to Research and Markets.
Comprising soybean, rapeseed, sunflower, cottonseed and more, the oilseed processing market is projected to grow at a CAGR of 7.37 percent from 2016 to 2022, according to MarketsandMarkets.
Driving this growth are increasing demands for convenience, such as with office vending systems, refreshment drinks, and rising transport applications, reports Research and Markets.
With increasing urbanisation and increasing awareness of consumers of the importance of health, the global sports drinks market is surging, and the developing economies are expected to offer growth opportunities, reports Research and Markets.
With increasing consumer awareness for health and wellness products, and trends seen from the more mature markets of US and Europe, the markets of Asia Pacific have great potential for products positioned to improve and maintain cardiovascular health. By Maria Mascaraque, research associate- health and wellness, Euromonitor International
Accounting for 15.3 percent of the global sparkling water market at the moment, the Asia Pacific market is forecast to grow at a CAGR of 3.67 percent through 2020, reports Technavio.
Recognised as the world’s 13th largest economy, Korea has a forecast annual GDP growth of about 3.9 percent by 2019. Despite the present unstable global economy, food ingredients will always be needed, especially functional and health ingredients in line with the current global health and wellness trend.