Introduction
The ageing of the population and the increasing importance that consumers attach to health mean that the US and European nutraceuticals markets will grow to US$25bn and US$7bn by 2009. However growth is hampered by consumers mistrust of manufacturers claims: almost 50% find them untrustworthy. Players will need to overcome this and other obstacles to grow their share of this market.
Scope of this report
- An in-depth investigation of the changing needs which are driving consumers demands for improvements in functional food and drinks
- Examination of core consumer groups and consumption occasions which will determine the future development of the nutraceuticals market.
- Analysis of new product development, highlighting innovative products which add value for consumers trying to fit a healthy diet into their lifestyle.
- In-depth coverage of the nutraceuticals market in France, Germany, Italy, The Netherlands, Spain, Sweden, the UK and the US.
Research and analysis highlights
Sales of functional products are rising across all food and drink categories in the US and Europe alike. The US market was worth US$18.9bn in 2004, with annual sales growth averaging 7.2% over the 1999-2004 period.
Europes Young Adults consume 36% more nutraceuticals than an average consumer, and even in the US the figure is as high as 28%.
Despite stereotypes about Europeans being particularly distrustful of business, 45% of Americans say that they largely or entirely disbelieve food and drink manufacturers health claims, a similar figure to France and far more than in the Netherlands.
Key reasons to read this report
- Gain a complete map of the nutraceuticals market, split by country, product market and health benefit.
- Understand the specific needs and expectations of key potential consumer groups.
- Learn how to target consumers needs from selected best practice NPD.
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