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March 13, 2006

UK: Tesco responds to demand for functional foods

The increasing demand for foods that actively reduce cholesterol levels has prompted Tesco to launch a range of own-label heart healthy foods.

The increasing demand for foods that actively reduce cholesterol levels has prompted Tesco to launch a range of own-label heart healthy foods.

“Heart disease is the main cause of death in Europe and it’s primarily caused by bad diets with food too high in cholesterol which clog the arteries,” said Tesco dairy department spokesman Patrick Keane.

Tesco has suggested that increasing concerns over heart disease have fuelled rapid growth in this market.

According to data from TNS, in the last year demand for cholesterol reducing functional foods has grown by 22% and this sector is now worth an estimated GBP125m (US$215.985m) per year. Tesco said that is expects the market to grow by an additional 25% this year, as the range of products on offer broadens. 

“At Tesco we’ve had a lot of customer interest in cholesterol reducing foods in the last year which is why we’ve now decided to launch our own range,” Keane said.

The first products in the new range, available in stores this week, will include cholesterol reducing yoghurt, probiotic drink, spread and milk.

All of the products in Tesco’s cholesterol reducing range feature a tasteless, odourless ingredient called Reducol, which is made from plant sterols and contains no fats, proteins or carbohydrates.

Keane added: “More and more of our customers are asking for functional foods that not only boost wellbeing but are also said to help prevent various diseases and ailments.

“Recently we have seen a tremendous growth in demand for probiotic drinks which help balance our digestive systems but they have taken a while to gain acceptance by the public. We believe it will be the same case for cholesterol reducing foods, which is why we have decided to set up our own label products.”

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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