Click here to close now.


News Feed Item

Frost & Sullivan: Asia Pacific's food industry demand to surpass North America and Europe combined by 2014

~ The APAC region food industry is fastest growing, and will hold 33% market share in 2014

SINGAPORE, Jan. 21, 2014 /PRNewswire/ -- The Asia Pacific region's food industry is one of the fastest growing and is expected to hold a 33% market share in the global food and beverage market in 2014. This is due to key megatrends such as increased urbanisation, increasing need for health and wellness solutions and the growing sensitivity to food safety; all of which will influence consumer behaviour and directly impact growth and performance of Asia Pacific's food industry.

"The Asia Pacific region encompasses a varied range of countries that differ in culture, cuisine, language and the degree of economic development. Despite their differences, the food industry in the region has been growing persistently even through the 2008/2009 economic downturn. Asia Pacific's food industry is projected to be a key economic driver as demand for food and beverage is expected to surpass the combined demand of North America and Europe by 2014," said Natasha D'Costa, Research Manager, Asia Pacific, Frost & Sullivan. "The key product growth areas within the Asia Pacific will be in beverages, dairy and the fortified commodities markets," noted D'Costa.

In the Western part of the world, strong growth is seen in the alcoholic and carbonated soft drink sectors of the beverage industry. However within the Asia Pacific region, strong growth is primarily seen in non-alcoholic and fortified beverages and key growth areas within the Asia-Pacific region will be in bottled water, ready to drink teas/coffee and juices. In South East Asian countries like Vietnam and Indonesia, demand for ready to drink tea is growing strongly and a huge market opportunity has presented itself in flavoured teas and green teas as it is well known locally and consumers easily identify with it.

"The convenience and rising awareness of health and wellness among consumers will continue to drive the growth of the ready to drink tea market. Bottled water is also experiencing huge growth, particularly in Indonesia, Thailand, and the Philippines. Water scarcity and the lack of clean water supply are the main factors that drive this market," D'Costa added.

Australia has not experienced strong growth in the bottled water market because of the luxury of having access to clean drinking water and of the rising awareness of being sustainable and the long term environmental impacts of the bottles. There was even a 'bottled water ban' in 2009 in a small town in Australia called Bundanoon as the locals were deeply concerned with the carbon footprint associated with bottled water.

The dairy industry in Asia-Pacific is expected to grow faster than mature markets of the US and Western Europe. "This is due to the increasing awareness of health benefits associated with consumption of dairy products. China is the forerunner in this demand as its younger population increasingly incorporates dairy into its daily diet. India is the world's largest producer of milk with most of its production used domestically as South Asians typically consume a dairy rich diet. There is a growing demand for fortified dairy products as manufacturers aim to add value to this commodity," explained D'Costa.

In Asia Pacific, the probiotic cultures market focused primarily at the fortified dairy sector is continuing to grow strongly with revenue projected from US$310 million in 2011 to US$522.8 million in 2018. "This is because there is increasingly more research validating the health claims of improving gut health and immune system, the increasing affordability of probiotic products due to increasing purchasing power parity of consumers and the growing focus on preventive medicine since the ageing population is expected to increase, particularly in Japan, Australia and Singapore," elaborated D'Costa.

Key demand growth within the dairy industry will be within the skim milk powder markets especially for infant nutrition in Thailand, China and Singapore. The demand for cheese is also predicted to grow, particularly in South Korea and Japan. Dairy based beverages and fortified foods are key emerging product opportunities which will experience demand across the Asia-Pacific.

"The Asia-Pacific population is reported to have a vast micronutrient deficiency particularly in iron, iodine and vitamin A. Increasing concerns of poverty and malnutrition has led to initiatives to fortify basic staple commodities. In the Philippines, rice is iron fortified, in China soy sauce is fortified and in India wheat is fortified with iron and salt fortified with iodine.

"Food fortification will continue to be a key focus for governments over the next few years as they aim to introduce more fortified food products which in turn will drive demand for such foods. The market for fortified commodities such as salt, wheat and cereals will be key growth areas in the immediate future," stated D'Costa.

"As the demographics and composition of Asia Pacific's population changes, so will its dietary trends and food demands, thus as the region's food industry dominates, it is expected to experience staggering growth," concluded D'Costa.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion

Join Us: Join our community

Subscribe: Newsletter on "the next big thing"

Register: Gain access to visionary innovation

Media Contact:

Donna Jeremiah
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: [email protected]

Carrie Low
Corporate Communications – Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: [email protected]

Melissa Tan
Corporate Communications – Asia Pacific
P: +65 6890 0926
F: +65 6890 0999
E: [email protected]

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
SYS-CON Events announced today that Machkey International Company will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Machkey provides advanced connectivity solutions for just about everyone. Businesses or individuals, Machkey is dedicated to provide high-quality and cost-effective products to meet all your needs.
WebRTC converts the entire network into a ubiquitous communications cloud thereby connecting anytime, anywhere through any point. In his session at WebRTC Summit,, Mark Castleman, EIR at Bell Labs and Head of Future X Labs, will discuss how the transformational nature of communications is achieved through the democratizing force of WebRTC. WebRTC is doing for voice what HTML did for web content.
Docker is hot. However, as Docker container use spreads into more mature production pipelines, there can be issues about control of Docker images to ensure they are production-ready. Is a promotion-based model appropriate to control and track the flow of Docker images from development to production? In his session at DevOps Summit, Fred Simon, Co-founder and Chief Architect of JFrog, will demonstrate how to implement a promotion model for Docker images using a binary repository, and then show h...
As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ability. Many are unable to effectively engage and inspire, creating forward momentum in the direction of desired change. Renowned for its approach to leadership and emphasis on their people, organizations increasingly look to our military for insight into these challenges.
The IoT is upon us, but today’s databases, built on 30-year-old math, require multiple platforms to create a single solution. Data demands of the IoT require Big Data systems that can handle ingest, transactions and analytics concurrently adapting to varied situations as they occur, with speed at scale. In his session at @ThingsExpo, Chad Jones, chief strategy officer at Deep Information Sciences, will look differently at IoT data so enterprises can fully leverage their IoT potential. He’ll sha...
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi's VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driv...
The enterprise is being consumerized, and the consumer is being enterprised. Moore's Law does not matter anymore, the future belongs to business virtualization powered by invisible service architecture, powered by hyperscale and hyperconvergence, and facilitated by vertical streaming and horizontal scaling and consolidation. Both buyers and sellers want instant results, and from paperwork to paperless to mindless is the ultimate goal for any seamless transaction. The sweetest sweet spot in innov...
SYS-CON Events announced today that Key Information Systems, Inc. (KeyInfo), a leading cloud and infrastructure provider offering integrated solutions to enterprises, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Key Information Systems is a leading regional systems integrator with world-class compute, storage and networking solutions and professional services for the most advanced softwa...
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps and Continuous Delivery software provider XebiaLabs has announced it has been selected to join the Amazon Web Services (AWS) DevOps Competency partner program. The program is designed to highlight software vendors like XebiaLabs who have demonstrated technical expertise and proven customer success in DevOps and specialized solution areas like Continuous Delivery. DevOps Competency Partners provide solutions to, or have deep experience working with AWS users and other businesses to help t...
The modern software development landscape consists of best practices and tools that allow teams to deliver software in a near-continuous manner. By adopting a culture of automation, measurement and sharing, the time to ship code has been greatly reduced, allowing for shorter release cycles and quicker feedback from customers and users. Still, with all of these tools and methods, how can teams stay on top of what is taking place across their infrastructure and codebase? Hopping between services a...
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at @DevOpsSummit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Enterprises can achieve rigorous IT security as well as improved DevOps practices and Cloud economics by taking a new, cloud-native approach to application delivery. Because the attack surface for cloud applications is dramatically different than for highly controlled data centers, a disciplined and multi-layered approach that spans all of your processes, staff, vendors and technologies is required. This may sound expensive and time consuming to achieve as you plan how to move selected applicati...