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Lifestyle Changes Are Resulting in Younger Consumers Purchasing Functional Foods With Greater Regularity According to New Study 'Functional Food, Drinks & Ingredients'

Posted on: Tuesday, 8 April 2008, 12:00 CDT

Research and Markets (http://www.researchandmarkets.com/reports/c88020) has announced the addition of Functional Food, Drinks & Ingredients: Consumer Attitudes & Trends to their offering.

Consumers have moved beyond choosing food and drinks simply to maintain everyday health. They are now seeking to optimize performance and reduce the risk, or delay the onset of diseases with functional food and drinks. This report concludes that the market drivers for functional product growth will have more influence than the inhibitors, making it a highly important area for investment.

Scope

- Extensive sizing of functional food and drink markets by region, country, category and targeted health benefit.

- In-depth qualitative and quantitative analysis of consumer drivers and inhibitors shaping market developments.

- Showcases best practice product and market innovation highlighting the most effective way to respond to changing consumer attitudes.

- More detailed geographic, product and consumer insight coverage.

Highlights of this title

Functional food and beverages are commonly associated with senior citizens trying to maintain vitality and reduce the risk of disease. However, lifestyle changes are resulting in younger consumers purchasing functional foods with greater regularity, in order to combat the myriad of health problems faced on a daily basis, such as fatigue.

Overcoming consumer skepticism about a wide range of issues related to functional products and their purported benefits will be important in gaining long-term mass acceptance. Industry players should also be wary of pushing a food or beverage product's functionality too far.

Sales of functional products are rising across all food and drink categories in the US and Europe alike, and growth rates continue to outperform growth in the food and drink categories overall. On a regional basis, the Asia-Pacific functional food and drink market will continue to outperform the US market over the next five years.

Key reasons to purchase this title

- Gain a detailed understanding of the current attitudinal and behavioral drivers and inhibitors across three key geographies.

- Recognize the key growth areas in the functional food and beverage markets and how to capitalize most effectively.

- Use the latest evidence to align product portfolios and marketing strategies with consumer attitudes and behaviors.

Content Outline:

OVERVIEW

Catalyst

Summary

Table of figures

Table of tables

THE FUTURE DECODED

Introduction: The functional food and beverage market is entering a critical era

Defining functional products: functional food and beverages contain specific physiologically active components that provide increased health benefits beyond basic nutritional functions

TREND: Consumers are more aware of food and dietary issues and are monitoring and adjusting what they eat and drink accordingly

Consumers have increasingly pro-active dispositions towards improving their general health

Consumers are actively looking to improve their health through diet on a global scale

Consumers are paying more attention to nutritional details and want to know more about functional products

Key takeouts and implications: health and nutrition is set to stay at the top of the agenda for the years ahead, creating a real incentive to invest in functional food and beverages

TREND: Aging populations are showing a strong concern and desire to improve their personal health

Aging is the dominant demographic trend across Europe, North America and much of Asia

Older consumers are making more concerted, active attempts to eat and drink in a healthier manner

Functional foods and drinks that target senior consumers are growing in popularity because they are a more vulnerable demographic

Key takeouts and implications: an aging society exacerbates the need for preventative or treatment benefits from food and beverage products

TREND: Consumers are looking for functional antidotes to both short-term and long-term physical and emotional health problems

The prevalence of long-term illnesses is increasing across Europe, North America and Asia, with hypertension being the most common problem

Diagnosis rates of heart-related health problems are growing in Europe and the US 21

An aging society is leading to more bone health problems being reported, most notably osteoporosis

The number of consumers suffering from gut health problems is relatively low, but growing rapidly

Individuals are increasingly reporting day-to-day emotional and physical health problems, such as fatigue and sleep deprivation

Job stress and difficulties in achieving a work/life balance contribute to sleep deprivation and fatigue

Continued increases in both adult and childhood obesity are paving the way for new satiety enhancing functional food and beverages

Busier lifestyles means that it is harder to meet nutritional requirements using traditional food and drinks, while less developed countries still have high nutritional deficiencies

People are even looking for easy ways to make themselves more beautiful with beauty foods

Key takeouts and implications: despite long-term health problems becoming more apparent, consumers want solutions with more short-term, day-to-day relevancy

TREND: Consumers are spending more on functional food and drinks across Asia, Europe and the US

The US functional food market continues to witness impressive growth rates

The value of the European functional food and drink market is significantly lower than the US

Sales of functional food and drink products in Asia are being driven by increasing levels of disposable income and the long-established presence of such products

Beverages with health boosting credentials are especially popular in Japan, particularly energy drinks

Key takeouts and implications: functional food and beverages will continue to be driven by strong sales in the US and Asia-Pacific, while the European market is yet to reach anything like full potential

INSIGHT: Consumers are overly optimistic about their diet and are making more concerted efforts to consume a balanced and varied diet

A sizeable majority of consumers consider themselves to be in good health and perceive their diet relatively positively

Diversity and balance in diet is growing in importance, especially as people suffer from dieting-fatigue

Key takeouts and implications: consumers suffer from an optimistic bias with regard to their diets and are looking to embrace a more balanced and nutritious diet

INSIGHT: Consumers are skeptical about the sensory appeal of functional food and drinks

Consumers are most influenced by the taste, enjoyment and quality of the food and drink they consume

Healthy food is often perceived as bland and uninspiring

Key takeouts and implications: despite consumers making active attempts to eat healthier, they will not compromise sensory benefits for nutritional goodness

INSIGHT: Consumer awareness and understanding of functional food and drink claims and benefits is limited

Consumers have an increasing awareness about which food categories are good for them, without knowing a huge amount about the actual healthy component

Americans are increasingly aware of specific health benefits associated with various functional foods

Asia has a long history of consumption of foods for specific health benefits which helps boost awareness

Europeans exhibit a similar level of awareness and understanding of functional products as Americans

The impact of socio-demographics on consumer awareness towards functional food and beverages is inconclusive

Motivations for buying functional foods reflect a lack of knowledge about the specific health benefits of certain ingredients

Key takeouts and implications: awareness of functional products is increasing, but there is a general lack of understanding about the more detailed benefits derived from ingredients/food components

INSIGHT: Consumers have a lack of trust in food and drink manufacturers and in functional products more specifically

Consumers are skeptical about pharmaceuticals which may impact long-term adoption of functional products

Consumers find health claims confusing and contradictory

BUT, consumers are beginning to recognize the role that certain foods or food components play in reducing the risk of certain diseases

The credibility of functional claims is enhanced in certain scenarios

Consumers are skeptical about the price of functional food and drink

Consumers are showing a distrust towards food and drink with artificially inserted ingredients

Key takeouts and implications: overcoming consumer skepticism about a wide range of issues related to functional products and their purported benefits will be important in gaining long-term mass acceptance

INSIGHT: Natural ingredients are becoming a more important feature of functional products

New functional products released are touting the benefit of natural health-boosting ingredients

Probiotics promoting general wellness are being released with greater frequency

New functional groceries in Asia-Pacific are commonly touted as being high in vitamins

New functional products in the US are reflective of consumer desire for health and convenience

New functional products in Europe continue to be high in vitamins and calcium

Key takeouts and implications: natural functional ingredients are becoming more popular

INSIGHT: Consumers of all ages are driving sales in the functional food and drink market, albeit for differing reasons

Parents are starting to take greater responsibility for the improvement of child health levels

The lifestyles of young adults are becoming increasingly pressurized

Younger workers are seeking out products that provide a quick-fix energy boost

Older consumers are still an important demographic group for functional food and beverage manufacturers

There are significant differences in the attitudes of senior citizens

Women, married couples and highly educated consumers are more likely to buy functional foods

Key takeouts and implications: although older consumers remain an important demographic group for the functional food and drink market, sales are being driven by a younger audience

Conclusions: the market drivers for functional products will have more influence than the inhibitors making it a highly important category for investment

ACTION POINTS

ACTION: Develop a broad range of products offering antidotes to the myriad of problems consumers face

Reassure postmenopausal women about the benefits of functional foods

Respond to the growing interest in mental wellbeing

Educate consumers about the danger of gut health problems and look to eradicate the embarrassment surrounding gut health more generally

Release products that help consumers sleep better, and prevent fatigue

Launch satiety-enhancing products to help health-conscious consumers suppress hunger

Promote the concept of holistic beauty with the development of functional oral beauty formulations

ACTION: Align brands with the softer image of natural wholesomeness, rather than function and science

Avoid using scientific jargon on packaging and other above-the-line communications

Create an image of natural wholesomeness to justify a premium price

ACTION: Use Productscan to track innovative functional products emanating from Asia

Embrace personalized nutrition by aligning products with the requirements and needs of specific target audiences

Recognize and track the growing array of functional products from unconventional categories

Promote hedonistic variables of functional products over and above health benefits

ACTION: Promote functional foods in a credible and honest manner

Promote functional products as an every little helps option rather than a magic bullet solution

Persuade consumers to use functional products regularly

Use websites and information books to explain the science behind functional products

Use independent experts as knowledge and information transmitters

Obtain and prominently display backing from an influential body

APPENDIX

List of Tables

List of Figures

Companies Mentioned:

- Future plc

- Groupe Danone

- Harris Interactive Inc

- Omega Protein Corporation

- Rich Products Corporation

- Safety Insurance Group, Inc.

- Singapore Power

- Yakult Honsha Co., Ltd.

For more information visit http://www.researchandmarkets.com/reports/c88020.

Source: Datamonitor

Source: Business Wire

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