The just-food management briefing - Functional foods
The functional food channel is set to grow year-on-year by between 3% and 5% over the next five years. Growth is being driven by new product development and increased customer concerns over health, giving an opportunity for manufacturers to premiumise their brands. This management briefing explores the opportunities and issues facing this fast-growing sector.
There are two ways of looking at the impact of what is often described as the ‘health and wellness' trend in food consumption. It can either be about consumers deciding or being persuaded to take certain things out of their diet or alternatively putting more of other types of food into their diet.
The functional food market is currently worth around US$22.92bn globally, and is expected to grow year-on-year by between 3% and 5% over the next five years, according to Leatherhead Food Research forecasts.
As the functional food concept is predicated on a direct association with health benefits, the debate over health claims is without doubt the central issue that companies operating in or entering this sector face.
Management Briefing - Functional Foods - Part Four - Market Data
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- How are brands organising for e-commerce?
- Hershey results, outlook, M&A - the top takeaways
- Hain Celestial eyes disposals, forms venture unit
- Kellogg launches Special K breakfast quiches
- Dole faces DoJ probe over listeria outbreak
- Amplify Snack Brands acquires Boundless Nutrition
- Kraft Heinz sees "faster" savings, volume uptick