Industry continues to look to Asia-Pacific, the Middle East and Africa for global growth
Euromonitor has released new research and, according to the findings, the health and wellness industry in packaged food, soft drinks and hot drinks combined was valued at $716 billion in 2017, globally.
Maria Mascaraque, Health and Wellness Analyst at Euromonitor International, comments: “Mindful eating is the key trend that is disrupting the health and wellness industry. It is one of the latest shifts in consumer perceptions of food and drinks, based on experiencing the process of eating more intensely, focusing on all the smells, tastes and feelings that arise during the process of eating."
"This is directly linked with the large number of consumers scrutinising ingredients lists. They are more aware of what is included in the products and are clear about what they are looking for: minimally processed foods and drinks as well as ingredients that are natural, simple and sustainably sourced."
"This is translated in two main growth areas in the industry: the first one being organic. This category led growth in 2017, as these products are perceived as more natural and healthier than the regular offering but it is also related to safety and trust in the brands as consumers are demanding greater transparency in the foods and drinks they buy."
"The second area leading growth is the free from offering, which is mainly coming from plant-based dairy alternatives, meat substitutes and gluten-free products.”
Mascaraque continues: “Moreover, the naturally healthy (NH) offering keeps blossoming globally, with preparations made from supergrains, superfruits or fungi rising in popularity in many food categories such as snacks, functional waters and hot drinks, among others."
"The use of jamun (black plum), moringa, ancient grains, algae, goji berries, turmeric, maca and/or medicinal mushrooms such as chaga are clear examples of this. In addition, we should not forget about the fortified/functional (FF) offering as it is the largest in size after naturally healthy."
"Consumers keep looking for products with functional ingredients such as probiotics, omegas or vitamins as a means of minimising nutritional gaps in their daily diet, or to boost their well-being. Despite the NH categories driving health and wellness trends, FF products are still current, valued at $247 billion in 2017 globally."
"Although, the US is still the largest country, the category is mainly boosted by Asia-Pacific and Eastern Europe, where consumers are looking for products with functional ingredients such as probiotics, omegas or vitamins as a means of minimising nutritional gaps in their daily diet, or to boost their well-being.”