12.05.12
The global market for functional foods and drinks is projected to reach $149 billion by 2018, driven by rising income levels, changing lifestyles, increasing health awareness and a rapidly aging world population, according to a new report from Global Industry Analysts, Inc. (GIA). Growth will also be spurred by the introduction of innovative products aimed at satisfying the consumer’s nutritional and health requirements.
The functional foods and drinks market has emerged as one of the most dynamic segments of the overall food industry, particularly in developed economies. The global market is expected to witness steady growth in the long run, driven primarily by rising health consciousness among modern day consumers. Rising confidence in food products offering health benefits beyond basic nutrition among both consumers and health professionals offers a strong business case for functional foods. Frequency of purchase is on the rise among younger consumers given product promises of quick energy replenishment, while the elderly are attracted to benefits that include minimized risk of diseases like hypertension and osteoporosis. Growth in the functional foods market is also driven by the ability of functional ingredients to offer therapeutic benefits. Additionally, increased consumption has resulted from the growing availability of functional foods in the form of bakery and dairy products, which drove leading players to integrate functional ingredients such as probiotics into common foods, including cereals and chocolates.
The functional foods and drinks market has emerged as one of the most dynamic segments of the overall food industry, particularly in developed economies. The global market is expected to witness steady growth in the long run, driven primarily by rising health consciousness among modern day consumers. Rising confidence in food products offering health benefits beyond basic nutrition among both consumers and health professionals offers a strong business case for functional foods. Frequency of purchase is on the rise among younger consumers given product promises of quick energy replenishment, while the elderly are attracted to benefits that include minimized risk of diseases like hypertension and osteoporosis. Growth in the functional foods market is also driven by the ability of functional ingredients to offer therapeutic benefits. Additionally, increased consumption has resulted from the growing availability of functional foods in the form of bakery and dairy products, which drove leading players to integrate functional ingredients such as probiotics into common foods, including cereals and chocolates.
