Functional Foods in Asia Pacific: Technology Benchmarking and Stakeholder Analysis (Technical Insights)
This Frost & Sullivan research service titled Functional Foods in Asia Pacific--Technology Benchmarking and Stakeholder Analysis offers a comprehensive analysis of functional foods, their research and developmental trends, key market stakeholders, and industrial initiatives, along with other informative data about the functional foods market within the Asia Pacific region. Important drivers and restraints are also discussed.
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Widening Consumer Base to Enhance Revenue Potential
Continued research into their potential health benefits and disease prevention abilities is significantly boosting awareness and usage of functional foods within the Asia Pacific region. Within Asia Pacific, foods with health benefits have a long history of consumption, with several functional food types forming a staple part of Asian diets. This is now translating into a rising trend of academic research and clinical studies to validate the safety and efficacy of these functional ingredients.
“Previously, the consumption of functional foods was predominantly accepted by a small range of consumers, such as elderly people or those with poor health,” notes the analysts of this research. “Currently, however, there are various types of functional foods and beverages available to cater to a diverse range of age groups and health issues.”
Validation of Health Claims is Critical to Boosting Consumer Confidence and Uptake
While there is tremendous potential for revenue growth, issues related to taste, texture, and performance continue to challenge market participants. The absence of standard identification and validation procedures to evaluate the relevant benefits or risks also threatens market prospects. The view that functional foods prevent rather than cure ailments is further dampening market potential. “There has been substantial negative focus on the effects and benefits of functional foods,” explain the analysts. “Moreover, functional foods are known to be less appealing than other foods on account of taste and texture.” The lack of standard risk markers makes it difficult for consumers to comprehend the effectiveness of certain functional foods. They are also uncertain about the health claims made by product manufacturers.
Functional food manufacturers should establish identification and validation standards to help consumers better understand the benefits and risks inherent in their products. They should also undertake research to improve the taste and texture of their products. “Many countries have, or are in the process of establishing, special regulation and laws for functional food production,” state the analysts. “Consumers are more likely to trust products that comply with these regulations.” In addition, market participants should conduct information dissemination campaigns to explain the benefits and importance of functional foods. This would give the public greater insights into the true benefits of functional foods.