- Cambodia
There are many factors for the increase in the health functional food market, but mostly, The market is growing more with the increased interest in the preventive medicine and health cognition related to immunity after a pandemic due to the burden of medical expenses.
Cambodia is a fast-growing country with an average annual economic growth rate of 5-7%. The purchasing power of consumers increases as the national income rises, And also, The health functional food market is also increasing by about 10% every year.
The top three health functional food import countries are Singapore, USA and China. representative health functional foods include Swallow’s nest drink, collagen for female consumers and Spirulina which is produced and distributed directly in the country as antioxidant foods.
However, In Cambodia, healthy functional food is a category in medicine. Therefore it should be considered when we export products. The existing cognition of market, Distribution store delivery and TV advertisements can increase product awareness and reliability than SNS advertisements.
- Taiwan
The proportion of young consumers is increasing in Taiwan’s health functional food market . According to a survey. 39 percent of consumers are 25-40years old and they are interested in efficacy. Specifically, 19-25 years old consumers are interested in whitening, detox, muscle gain and fat reduction. and 31-40 years old consumers are expecting to get the efficacy of anti-aging, gastrointestinal function and liver health.
The 1st place of health functional food is immunity enhancement, 2nd is women’s health and 3rd is digestive function strengthening foods.
In addition, Taiwan will also enter a super-aging society from 2025, the demand for health functional products related to cardiovascular, dental, and vision will be increased in the future.
Taiwan, also interested in nutritional supplements and health functional foods, has been increasing after Covid-19. Especially, The marketing and product image should be suitable for young people. It will have a critical impact on consumption by subdividing health functional food products based on brand image, quality, and reliability.
- Vietnam
The health functional food market in Vietnam has recorded a growth rate of about 7% in the past five years.
If it is not a serious disease, Vietnam also prefers self-treatment through folk remedies due to the complicated medical and pharmaceutical system.
According to the background and Covid-19 situation, The health functional foods increased demand for improved immunity. Mostly, Imported products account for about 45% of Vietnam health functional foods , and the top importing countries are the USA, Singapore, Malaysia and New Zealand.
The demand for healthy functional food types are jelly and vegan (for vegetarians) that are easy to consume by all ages and members of the family. The elderly were the main customers but now Young and middle aged people are increasing the demand for healthy functional foods such as immunity, skin care and weight controls are the main concerns.
4. South Korea
2021 Functional food market & R&D trend of South Korea
The Korea Health Functional Food Association announced the size of the Korea health functional food (dry food) market will grow by 2.39% from 4.927.3 trillion won in 2020 to 5,45.4 billion won in 2021 due to the accelerated aging of the population and the spread of the ‘self-medication’ trend due to ‘Omicron’, a new mutant virus of COVID-19, Rapidly requires awareness about health, it is predicted that consumers in ‘health care’ will increase in 2022.
The top selling functional ingredients last year was the same as previous year. In the order of red ginseng, probiotics, vitamins (multi-and single-vitamins) and oil and fats containing EPA-DHA (Omega3).Their combined market size was 61.4% of total selling ingredients.
The market for body fat reduction products and collagen has grown in size. In particular, Collagen ” inner beauty” is expected to grow about 4.6 times compared to five years ago.
Many Korean companies are working to develop new raw materials and natural materials to strengthen competitiveness in the rapidly growing health functional food market.
According to the functional R&D trend 2021 by ingredient shared by the Korea Food Industry Cluster Promotion Agency.
Cognition and anti-anxiety effects, lower blood pressure, improve blood vessels, improve exercise performance, antidiuretic effect, liver health, intestinal health, eye health, skin health was the main research direction.
