Introduction
- As consumers increasingly demand measurable, instant benefits, interest in
functional products with short-term, visible effects continues to drive the
multi-billion dollar nutraceuticals industry. This report provides a
comprehensive analysis of the industry, identifying opportunities for growth
and offering recommendations to enable manufacturers to take advantage of
the "beauty foods" trend.
Scope of this report
- US nutraceuticals1998-2003 industry, with 2003-2008 forecasts of the
beverages, bakery, dairy, confectionery, snacks, and supplements markets
- Proprietary online survey of 1,002 US consumers and 154 US manufacturers
in August 2004
- One-to-one interviews with over 30 ingredients companies and industry
experts
- Comprehensive search of major NPD over the past two years, using
Datamonitors Productscan online service
Research and analysis highlights
- The US nutraceuticals market increased at a CAGR of 8.2% between 1998 and
2003, driven by strong growth in energy-boosting products. While growth in
almost all health-related segments is expected to slow over the next five
years, however, functional beauty products are expected to increase at a
CAGR 13.7%, reaching nearly $1 billion by 2008.
- This burgeoning "beauty foods" trend creates significant
opportunities for manufacturers. With consumers never-ending search for
quick fixes to a multitude of wellness-related issues, the line between
health and beauty needs continues to blur. New concepts in ingestible
products can help consumers reach their short-term health and beauty goals.
- Beauty concerns are driving growth not only among the Baby Boomer
population, but among younger consumers as well. Consumers of all ages tend
to fall into one of three distinct groups: Instant Gratifiers, Planners and
Regulars, each with their own particular preferences and habits.
Key reasons to read this report
- Benchmark the importance of product development "hunches"
against the needs of buyers and end-users
- Understand functional and fortified market opportunities based on the
quantification of US consumer and manufacturer opinions
- Make informed NPD and partnership decisions based on unique quantified
market sizes for emerging product categories
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