October 07, 2014 - Blog
Rising awareness among consumers toward health benefits of foods and beverages for potential disease prevention and overall wellness are key factors driving growth in the global health-and-wellness market. According to data from Euromonitor International, the sector will witness sales of approximately $774 billion in 2014.
“Healthy food and beverages are once again outperforming their non-health and wellness counterparts," said Ewa Hudson, global head of health and wellness research at Euromonitor International. “Healthy soft drinks will account for half of global soft drink retail sales in 2014 and over the next five years, healthy packaged food will account for one-third of total packaged food retail sales."
In terms of sales, milk formula is the world’s fastest-growing health-and-wellness category, reaching $4.3 billion in 2014. Gluten-free bakery products are the third-fastest growing health-and-wellness category with sales up by 16 percent in 2014. Naturally healthy ready-to-drink tea is projected to grow by $14.5 billion, which is nearly $2 billion more than energy drinks between 2014-2019.
Emerging markets also are driving growth in health and wellness are, adding 87 percent of absolute growth between 2009-2014. Despite this, developed markets still account for 60 percent of total global health-and-wellness retail sales.
“These markets should not be overlooked and instead should be considered an innovation hotspot promoting a more personalized approach to nutrition, with a focus on areas such as brain and vision health or food intolerance," Hudson said.
So as the global market for heath-and-wellness products matures, product designers searching for successful introductions have to carefully position their products to make sure they meet consumer expectations for efficacy and match the flavor of their conventional counterparts. Food Product Design’s free “Functional Foods and Beverages"Digital Issue delves into the market growth for the functional foods and beverage category, formulating functional beverages, protein's role in functionality, as well as demographic cohorts that should be considered when developing functional foods and beverages.
Rising awareness among consumers toward health benefits of foods and beverages for potential disease prevention and overall wellness are key factors driving growth in the global health-and-wellness market. According to data from Euromonitor International, the sector will witness sales of approximately $774 billion in 2014.
“Healthy food and beverages are once again outperforming their non-health and wellness counterparts," said Ewa Hudson, global head of health and wellness research at Euromonitor International. “Healthy soft drinks will account for half of global soft drink retail sales in 2014 and over the next five years, healthy packaged food will account for one-third of total packaged food retail sales."
In terms of sales, milk formula is the world’s fastest-growing health-and-wellness category, reaching $4.3 billion in 2014. Gluten-free bakery products are the third-fastest growing health-and-wellness category with sales up by 16 percent in 2014. Naturally healthy ready-to-drink tea is projected to grow by $14.5 billion, which is nearly $2 billion more than energy drinks between 2014-2019.
Emerging markets also are driving growth in health and wellness are, adding 87 percent of absolute growth between 2009-2014. Despite this, developed markets still account for 60 percent of total global health-and-wellness retail sales.
“These markets should not be overlooked and instead should be considered an innovation hotspot promoting a more personalized approach to nutrition, with a focus on areas such as brain and vision health or food intolerance," Hudson said.
So as the global market for heath-and-wellness products matures, product designers searching for successful introductions have to carefully position their products to make sure they meet consumer expectations for efficacy and match the flavor of their conventional counterparts. Food Product Design’s free “Functional Foods and Beverages"Digital Issue delves into the market growth for the functional foods and beverage category, formulating functional beverages, protein's role in functionality, as well as demographic cohorts that should be considered when developing functional foods and beverages.
