Functional foods sector tipped for growth
Consumers are likely to push growth of the functional foods sector by 5.7 per cent between now and 2012, a report by Datamonitor has revealed.
The survey suggests that there is huge potential in the sector, with the US, European and Asia-Pacific markets in the category worth $72.3 billion (£36.4 billion), Food and Drink Towers reports.
According to the poll, consumers are turning to food to provide health benefits and energy boosts.
Michael Hughes, author of the study, remarked that the sector is entering a critical stage.
“Current market conditions suggest the functional food market will continue to witness impressive growth rates, after all, changing social demographics and greater emphasis on maintaining health is driving the demand for foods rich in nutrients and minerals,” he said.
Mr Hughes added that although this category is usually associated with older buyers, the younger generation is beginning to embrace it as lifestyles shift.
The Food Standards Agency declared earlier this week that consumers are becoming more concerned with eating healthier foods.
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