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We went to some of the top trend-tracking and resource groups to distill the shifts and changes in good-for-you product supply and demand of the past year. Organizations that contributed generously to this issue include Datamonitor USA (www.datamonitor.com), New York, as well as Business Insights Ltd. (www.globalbusinessinsights.com), London; Hort Research (www.hortresearch.co.nz), Auckland; Innova Market Insights (www.innova-food.com), Duiven, Netherlands; the International Food Information Council (www.ific.org), Washington; and Mintel International Group Ltd. (www.mintel.com), Chicago. Their invaluable input helps us provide you with a comprehensive picture of the trends impacting the quarter-trillion dollar healthy foods industry.
Market analysis group Business Insights Ltd. reported earlier in the year that “the following key market trends will comprise the lion’s share of the future of wellness foods and beverages:
And according to the Helmut Kaiser Consultancy group, Tubingen, Germany,(www.hkc22.com), about 400 Companies worldwide in R&D and Production use nanotechnologies and molecular science in food processing.
“Energy is top, and will remain top,” asserts Datamonitor’s “Insights Into Tomorrow’s Nutraceutical Consumers” report. “Energy is the biggest functional need driving U.S. nutraceutical sales. Americans bought energy-boosting products worth $6.5 billion in 2004, accounting for a third of total nutraceutical sales. Energy products are concentrated within the confectionery and soft drinks categories, but also include other products ranging from fortified peanuts through to nutraceutical flatbreads.”
Heart-health is the second largest category, reflecting millions of Americans' susceptibility toward cardiac problems. The market was worth $4.1 billion in 2004, and sales have been growing by more than 8 percent per year over the past five years. Heart-health products range from cereal to olive oil, covering all products that the FDA recognizes as reducing the risk of coronary disease.
Nutraceutical products targeted at gut health are of limited popularity in the U.S., despite being a leading category in Europe. This reflects the relative unpopularity of active yogurt in the US because of consumer wariness - a large proportion of gut health products in Europe are in this category. However, as tastes start to change, gut health has been by far the fastest-growing nutraceutical category in the US, with annual growth of more than 23 percent over the 1999 to 2004 period.
Designing and producing food by shaping molecules is the future of the food industry, according to Helmut Kaiser. The consultancy also predicts nanotechnology and nano-bio-info convergence will influence over 40 percent of food industries to 2015. The nanofood market doubled from $2.6 to $5.3 billion from 2003 to 2005 and is expected to reach $20.4 billion in 2010. The risk for the food companies lies not in not entering the nanotechnology, but entering too late.
Business Insights points to young adults as the key marketing targets for new healthy food and drinks: growing consumer awareness of the benefits of consuming certain ingredients, are likely to be more health conscious and have less cemented purchasing/consumption patterns.
The group believes snacks to be the most innovative category in healthy food and drinks. The reasoning is that snacks can easily be reformulated; single-serve products provide convenience to the functional food and drinks consumer.
According to Datamonitor, “Manufacturers believe the most important functional products to consumers are those targeting weight loss and energy needs, while long-term health concerns are the least important aspects of well-being. This reflects a tendency for nutraceutical consumers to focus on the short-term benefits of products, as would be expected from their general consumption behavior.”
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