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Functional Food Market Set to Grow for Next Few Years

The global consumption of functional foods and drinks increased by a compound annual rate of over 6% between 2003 and 2008, and growth is predicted to continue over the next three years, according to a new report, “The Future of Targeted Functional and Wellbeing Food and Drinks.”

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By: Sean Moloughney

Editor, Nutraceuticals World

The global consumption of functional foods and drinks increased by a compound annual rate of over 6% between 2003 and 2008, and growth is predicted to continue over the next three years, according to a new report, “The Future of Targeted Functional and Wellbeing Food and Drinks.”

 
Nutraceuticals/functional food and drinks have had an influence in the development of the food and drinks industry over the past five years. This new report provides a rigorous study of the growth, drivers and future market size of the functional food and drinks market, evaluating and identifying the key ingredients that will take it forward.
 
Increased health awareness and consumer confidence coupled with an aging population has driven demand for products that improve the quality of life, have specific health benefits and can be used by consumers to self-medicate.
 
The demand from the older generation will dramatically increase over the next four decades. Certainly disease-focused targeting will improve, creating a clear demand for more personalized nutrition. The demand for foods, which offer health benefits and even promote disease prevention will become more important in order to avoid the long term costs.
 
The food industry, like the pharmaceutical industry, has recognized that a “one-size-fits-all” approach is not always applicable and nutritional recommendations could be improved by personalization, for example with respect to metabolic disorders and cardiovascular diseases.

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