Dallas, TX (PRWEB) November 22, 2013
An overwhelming majority of industry players have displayed optimism for the functional food and drinks market over the next three years, according to consumer specialist Canadean’s new report: Global Functional Food Survey: Trends and Insights 2014-2016. Thanks to the extensive opportunities for growth in the market offered by increasing consumer awareness of products’ nutritional qualities encouraging improved health and wellness, thwarting the onset of chronic disease, and increasing life expectancy, a staggering 81% of survey respondents advertised optimism with regard to the future of the market.
Complete report is available @ http://www.rnrmarketresearch.com/global-functional-food-survey-trends-and-insights-2014-2016-market-report.html .
This report is the result of an extensive survey drawn from Canadean’s exclusive global panel of industry executives, evaluating the future of the global functional food and drinks market. It offers an assessment of the prevailing business environment for functional food and drinks, investigating changes in demand in key markets, the age groups and product categories that will drive growth in functional food and drinks.
Furthermore, it identifies key drivers and major barriers influencing the market, as well as key focus areas for product development, and the packaging and labeling trends that play a crucial role in driving growth for functional food and drinks. Together with its analysis of the way in which social media will influence the market over the next three years, its projection of functional food and drink sales, the report provides an basement of the health claim regulations and the comprehensiveness of the regulatory environment covering the market, and should be considered required reading for those organizations with a stake in the global functional food and drinks market.
The confidence exhibited by key industry figures with regard to the fortunes of the functional food and drink market is in part facilitated by their insight with regard to key trends in consumer behavior, and the particular challenges that must be overcome to engage with the public and secure growth.
Consumers’ attitudes regarding healthy living are becoming increasingly holistic, with the widest range of factors being taking into account in the assessment of a person’s lifestyle. A consequence of this is that the health benefits derived from food and drinks are now understood by consumers to reach beyond the fundamental nutrition they provide, and play a role in a broader spectrum of influence on the health of one’s lifestyle.
Ensuring this trend remains central to the development and marketing of products will help manufacturers to attract more customers, increase market share, and cement their products in the foundations of what the public perceives as living a healthy lifestyle, thereby helping secure future success. However, it is vital that manufacturers do not overestimate the power of functional foods’ additional benefits to compel consumers to purchase and make products prohibitively expensive – in the current economic climate, the vast majority of consumers remain hesitant to stray far from the budget of standard products in pursuit of functional food and drinks.
It is this recessionary environment that is generating further difficulties for manufacturers, who according to Canadean’s survey believe a key challenge in the future success of functional food and drinks is to convince a perhaps excessively skeptical public to trust the health claims associated with their products. The onus to educate the public on the benefits of functional food falls to the manufacturers, and delivering this message in an engaging, compelling manner stands as one of the most vital challenges industry players face. This is particularly true in light of the fact that effective education of the public could help in building a convincing case that product benefits justify the cost of functional food and drinks, thereby easing the pressure placed by the economic climate on the market.
Reasons to Buy
- Provides a comprehensive assessment of the prevailing business environment for functional food and drinks, with regard to changes in demand in key markets, and the age groups and product categories that will drive growth in functional food and drinks over the next three years.
- Identifies key drivers and major barriers influencing the functional food and drinks market, along with strategies that will be crucial for the expansion of functional food and drinks into new markets.
- Highlights major focus areas for product development, assesses the importance of packaging and labeling trends, and anticipates how health claim regulations and social media will influence the functional food and drink market in the coming years.
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