Global market reviews of: functional food, new product development
This is a package of latest Global market review of functional food and the latest Global market review of new product development strategies in the food and drink industry, providing you with a comprehensive insight into these neighbouring markets at a discounted price. Save 15% by purchasing these reports together in this package!
The reports follow the same digestible format, including all of the information required to help companies in these sectors plan their next marketing strategies. Each report includes key market activity, a breakdown of the market by area/sector, and industry forecasts. The activities of the major players are considered in both reports, including selected company profiles.
Please read on for further details on each study...
Global market review of functional foods – forecasts to 2013
By 2013, 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-
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 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, 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.
Report coverage
Chapter one offers an executive summary, extracting the key findings from each chapter.
Chapter two provides an introduction, both to the functional food market and the report. As well as making comparisons with previous editions and considering the aims of the report, we also look at the methodology and author behind it.
Chapter three gives an overview of the global functional food market, including forecasts to 2013. We look at the overall market value and % growth, then address the following developed markets in turn: Asia (Japan, China), North America (US, Canada), Central and South America, Europe (France, Germany, Italy, Spain, UK) and Australasia (Australia, New Zealand).
Chapter four analyses the current influential consumer and industry trends which are key to this market. Consumer trends profiled include: controlling consumer perceptions, understanding, awareness and education, and building trust and keeping it. Industry trends include: natural, whole and organic, ingredients innovation and scientific support.
Chapter five then focuses on global trends in functional foods by health concern. This includes a table providing examples of foods and ingredients associated with 15 common health concerns. We then look in more detail at the key functional ingredient for each of these concerns, which include ageing, cancer, diabetes, heart health and obesity.
Chapter six continues with the trend analysis, this time looking at global trends in functional foods by category. After drawing up a success tick-list for functional NPD, we review the major trends in the following product sectors: bakery and cereals, confectionery, dairy, and frozen and chilled food.
Chapter seven previews the future of functional foods, including market value and growth forecasts for the key upcoming markets of heart and digestive health food. We also look at future NPD opportunities and hurdles to the development of the targeted nutrition market.
Published April 2008
Global market review of new product development strategies in the food and drink industry – forecasts to 2013
New product development is a costly business but it is essential to the growth of the food industry. Embarking on the development of a new food brand can be time-consuming, expensive and disappointing. It can also be the best thing that has ever happened to a company/manager as it propels the business into rapid growth and profitability. Failure to innovate will result in an out-of-date brand that shrinks into the background within a highly competitive food market.
The rate of NPD continues to rise year-on-year in the majority of food and drink categories, despite the significant resources required to launch a new product, and growing competition. Consumer awareness of nutrition and healthy eating has resulted in a raft of better for you products in recent years. Meanwhile, healthy indulgent products are also making their mark, particularly in countries with a fast-growing functional food sector, and in regions where consumers demonstrate a growing interest in added value products. Premium products are also encouraging value sales growth and prompting investment in NPD, particularly in sectors such as chilled food and bakery.
This second edition study provides further insight into best practice NPD strategies in the fast-paced global food and drink market. The report focuses on trends, drivers, innovation and marketing in major regions and primary food categories around the world, providing market forecasts to 2013.
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