Abstract
By 2013, just-food estimates that the global functional food market is
expected to reach a value of at least US$90.5bn.
Growing consumer interest in the role of nutrition for health and wellbeing is
a primary driver behind the success of the functional food market. Another is
consumers' increasing desire to take a more proactive role in optimising
personal health and wellbeing, without relying on pharmaceuticals.
As this consumer awareness in health continues to grow and develop, it means
that opportunities for new product development (NPD) and marketing grow and
develop, and whilst this report considers the fact that the functional food
market is indeed one of the fastest-growing within the global food industry,
it also investigates evidence that it is underperforming compared to some
possibly ambitious predictions made over the past four to six years.
This 2008 edition provides an updated investigation into this sector, and
considers the future of a functional food industry that will be focused on
targeted nutrition, and built on more specific and scientifically-supported
health claims.
The market is also becoming globalised, and is no longer limited to more
established food industries such as Western Europe and North America. This
latest edition of the report expands its focus to specific markets such as the
UK, France, the US, Canada, Japan, China and Australia.
The report aims to quantify future profit opportunities in the functional food
market to 2013, and just-food has analysed the major drivers and trends in
order to better understand the future direction of the market, and its current
role in the global food industry.
Rather than tackle generic trends such as health awareness, which has been
widely discussed within the industry, just-food has addressed the issue by
health concern.
The report also considers current trends in some of the major food categories
such as dairy and confectionery. Potential NPD strategies are discussed, along
with best-practice examples and recent new product launches.
Brand case studies are included to highlight and substantiate strategies and
analysis throughout the report, as well as comments from relevant industry
executives who were interviewed by the author.
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