Sean Moloughney, Editor11.01.16
Consumers across the spectrum, and around the world, are looking to live active lifestyles centered around natural wellness.
In this competitive marketplace, there are seemingly limitless opportunities for product developers to deliver healthy, functional product solutions—both in terms of targeted dietary supplements and also functional foods and beverages. This is due in part to the fact that Baby Boomers and Millennials both have healthy appetites for natural brands, and significant buying power.
As Julian Mellentin writes in his analysis of key trends in the functional foods market, “People have the confidence to make highly personalized dietary choices and to experiment; we’re all food explorers now. No longer do the health-aware follow the dictates of dietary guidelines; they just do whatever they think is right for them.”
“As a result of this fragmentation,” he added, “it’s becoming clear that there’s a niche for everything. It seems that almost anything can become successful, provided it connects to big trends like snacking, naturally functional and others. This means that, in effect, there’s no limit on what you can do.”
Indeed, according to Euromonitor International, fortified/functional foods and beverages—the largest segment within the health and wellness industry—represent a $159 billion global market.
Meanwhile, consumer surveys of supplement usage indicate that while multivitamin usage has remained fairly steady, specialty products like omega-3s and probiotics have grown in popularity.
In sports nutrition, a category once reserved for hardcore bodybuilders and dedicated endurance athletes, the market has evolved to appeal to everyday, active consumers who are looking to maintain or improve their fitness. From various protein sources, energy solutions, weight management and joint support products, again, the possibilities seem endless.
Ultimately though, every brand needs to balance several critical components in their product’s recipe, including price, taste, convenience and health benefit (whether perceived or actual).
In this competitive marketplace, there are seemingly limitless opportunities for product developers to deliver healthy, functional product solutions—both in terms of targeted dietary supplements and also functional foods and beverages. This is due in part to the fact that Baby Boomers and Millennials both have healthy appetites for natural brands, and significant buying power.
As Julian Mellentin writes in his analysis of key trends in the functional foods market, “People have the confidence to make highly personalized dietary choices and to experiment; we’re all food explorers now. No longer do the health-aware follow the dictates of dietary guidelines; they just do whatever they think is right for them.”
“As a result of this fragmentation,” he added, “it’s becoming clear that there’s a niche for everything. It seems that almost anything can become successful, provided it connects to big trends like snacking, naturally functional and others. This means that, in effect, there’s no limit on what you can do.”
Indeed, according to Euromonitor International, fortified/functional foods and beverages—the largest segment within the health and wellness industry—represent a $159 billion global market.
Meanwhile, consumer surveys of supplement usage indicate that while multivitamin usage has remained fairly steady, specialty products like omega-3s and probiotics have grown in popularity.
In sports nutrition, a category once reserved for hardcore bodybuilders and dedicated endurance athletes, the market has evolved to appeal to everyday, active consumers who are looking to maintain or improve their fitness. From various protein sources, energy solutions, weight management and joint support products, again, the possibilities seem endless.
Ultimately though, every brand needs to balance several critical components in their product’s recipe, including price, taste, convenience and health benefit (whether perceived or actual).
