Baby boomers boost nutraceutical market
life, fuelling a sharp rise in demand for functional foods or
"nutraceuticals", according to a report published on Friday.
Health-conscious baby boomers are eating their way to a better life, fuelling a sharp rise in demand for functional foods or "nutraceuticals", according to a report published on Friday.
From margarines that lower cholesterol to yoghurt that strengthens the immune system, nutraceuticals are emerging as an attractive new business for food companies looking to boost sales and sharpen margins.
Market research firm Datamonitor said it had identified 204 new nutraceutical launches in major markets in the past 18 months.
The biggest single category comprised "probiotic" products that contain beneficial bacteria, like Yakult Honsha Co Ltd of Japan's fermented milk drink and Actimel from French food group Danone .
"Baby boomers (the generation born after the Second World War) are the most important consumers to the industry, as they are accepting of new attitudes towards disease prevention and are in one of the highest risk age groups for many diseases and illnesses," Datamonitor said.
"Despite advances in traditional medicine, many diseases such as diabetes, cancer and heart disease are on the increase, and consumers are examining with renewed enthusiasm the close link between diet and health."
Datamonitor said its research suggested that simple vitamin supplements would decline in significance in the years ahead as consumers turned increasingly to products that promised cures and prevention of specific ailments.
