USA: Does the Functional Food Bandwagon Have a Flat Tire? Promar Analysis Sees Sharp Decline in New Products
Data analyzed by Promar International show functional food product introductions are down by almost half in the first eight months of 2000 compared with the same period last year. The drop is across the board, but is most significant in beverages and snacks-particularly in the cluttered energy bar category."This is what we expected," says Margaux Locklear, Strategic Marketing Analyst for Promar International. "The failure rate for new food products is always high, but simply adding gingko or echinacea to an existing product and slapping a new label on it doesn't qualify as a strategy. A number of industry players, both large and small, are finding that out and have become more careful about entering what remains a tremendous growth market."The current and future promise of functional foods-and strategies for exploiting market growth -is the focus of Promar's recent study, "Food Doctors: The future of nutraceuticals in the United States." It is available at a cost of $14,000. Study details including a table of contents and sample pages can be viewed in Adobe format at:
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