, APAC

Asian food makers expand functional offerings to bakery and savoury snacks

The bakery and cereals market is valued at US$2.4b.

The Asian food and drink manufacturers started to diversify functional offerings, tapping bakery and cereals as well as savoury snacks to fit customers’ demands, GlobalData said in a recent report.

The functional bakery and cereals market in Asia was worth US$2.4b, the analytics firm also said.

Tim Hill, key account director at GlobalData Singapore, said the demand for immunity-boosting dairy and soyfood products grew yearly by 20% in 2020.

“Similarly, vitamin drink brands, such as QminC and Carabao Group’s Woody C+, received a positive reception in Thailand in 2021,” said Hill.

Public demand for vitamins continues to grow with 72% of APAC respondents in GlobalData’s Q1 2023 survey saying vitamins A and C, are positive for their health, a moderate increase over the 70% of APAC respondents who opined similarly in the Q1 2022 survey.

Bobby Verghese, consumer analyst at GlobalData, said consumer preferences are changing because as the strict health rules wane, they prefer pre-pandemic lifestyles. 

“Asian food and beverage companies are exploring the market with various new functional offerings to tap this trend. Recent notable product innovations in this space include Wyeth Nutrition’s S-26 Gold Pro UHT milk launched in Thailand and PureMed’s Probiotic Mooncake launched in Malaysia,” said Verghese in the same report.

Follow the link for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Amazon expands employee assistance programme to children
This allows children of its Singapore employees to seek mental health support for free.
Stores
Australian consumers trust in purpose-driven brands
Bunnings is the most trusted brand for customer experience excellence in Australia 2020-2023.
Stores
FairPrice to offer discount offsetting GST raise
The discount will be implemented on national brands and house-brand groceries.

Exclusives

ZALORA seizes opportunity in revenge tourists’ purchasing power
The e-commerce platform added more travel-related items catering to the rise in travel searches from customers.
Why retailers should pick up the pace of AI adoption
Analysts said they will run the risk of lagging in the market and suffering higher costs.
Persistent habits, digitalisation drive continuous e-commerce growth in APAC
Euromonitor reports that e-commerce operators dominated its Top 10 Fastest-Growing Retailers list in the region.
F&B success seen in Family Mart Indonesia stores
Fast food and drinks rival grocery sales, averaging 50% of transactions in each store.