Nutraceuticals : Market Research Report

Nutraceuticals

Published by: Key Note Publications Ltd

Published: Feb. 1, 2008

Executive Summary
1. Introduction: DEFINITIONS AND REPORT COVERAGE; REASONS FOR REPORT UPDATE; SOURCES OF INFORMATION
2. Strategic Overview: MARKET DYNAMICS AND SEGMENTATION; Factors Driving or Affecting the Market; Demographic Trends: Age Profiles and Life Expectancy; Specific Health-Related Issues; Functional Foods; Vitamins, Minerals and Supplements; Regulatory Factors; Functional Foods; Vitamin, Minerals and Supplements; The Total Market; Market Sectors; DISTRIBUTION; COMPETITIVE STRUCTURE; ADVERTISING; THE CONSUMER; MARKET FORECASTS
3. Functional Foods: BACKGROUND AND PRODUCTS; HEALTH BENEFITS; MARKET SIZE; The Total Functional Foods Sector; By Subsector; Breakfast Cereals; Yoghurts; Yoghurt Drinks; Margarines and Spreads; Soya Products; Cereal Bars; Bread; PUFA-Enriched Eggs; Milk and Cheese; Soft Drinks and Water; MANUFACTURERS' AND OWN-LABEL SHARES
4. Vitamins, Minerals and Supplements: BACKGROUND AND PRODUCTS; HEALTH BENEFITS; MARKET SIZE; The Total Vitamins, Minerals and Supplements Sector; By Subsector; Multivitamins; Single Vitamins; Fish Oils; Evening Primrose and Starflower Oils; Minerals; Glucosamine; Garlic; Ginkgo; Ginseng; St John's Wort; Other Supplements; MANUFACTURERS' AND OWN-LABEL SHARES
5. Advertising and Promotion: FUNCTIONAL FOODS; Main Media Advertising; Trade Events; VITAMINS, MINERALS AND SUPPLEMENTS; Main Media Advertising; Trade Events; 6. Distribution; FUNCTIONAL FOODS; VITAMINS, MINERALS AND SUPPLEMENTS
7. An International Perspective: FUNCTIONAL FOODS; The Global Market; Western Europe; The US; Japan; VITAMINS, MINERALS AND SUPPLEMENTS; Western Europe and Scandinavia; Austria; Belgium; Denmark; Finland; France; Germany; The Republic of Ireland; Italy; The Netherlands; Norway; Portugal; Spain; Sweden; Switzerland
8. PEST Analysis: FUNCTIONAL FOODS; Political and Economic Factors; Social and Demographic Factors; Technological Factors; VITAMINS, MINERALS AND SUPPLEMENTS; Political Factors; Economic Factors; Social and Demographic Factors; Technological Factors
9. Consumer Dynamics: FUNCTIONAL FOODS; Overview; Probiotic Yoghurts; Probiotic Yoghurt Drinks; Cholesterol-Lowering Spreads; Soya Milk and Soya Yoghurts; Fortified Breads; General Interest in Functional Foods and Drinks with Health Claims; Belief That Existing Diet is Adequate for Health Needs; Tendency Not to Believe Food and Drink Manufacturers' Health Claims; VITAMINS, MINERALS AND SUPPLEMENTS; Overview; Regular Use of Any Vitamin, Mineral or Supplement Product; Multivitamins; Single Vitamins; Cod Liver or Other Fish Oil; Evening Primrose or Starflower Oil; Garlic, Ginkgo or Ginseng; Glucosamine; Belief That Requirements Are Met Adequately by Normal Diet
10. Company Profiles: FUNCTIONAL FOODS; Agnitrin Dairy Ltd; Profitability; Allied Bakeries Ltd — Associated British Foods PLC; Profitability; Alpro (UK) Ltd; Profitability; Coca-Cola Enterprises Ltd; Profitability; Dairy Crest Group PLC; Profitability; Danone Ltd; Profitability; W Jordan (Cereals) Ltd; Profitability; Kellogg Marketing and Sales Company (UK) Ltd; Profitability; McNeil Nutritionals Ltd; Profitability; Müller Dairy (UK) Ltd; Profitability; Nestlé UK Ltd; Profitability; Noble Foods; Profitability; Onken Dairy (UK) Ltd/Dr Oetker (UK) Ltd; Profitability; Quaker Oats Ltd; Profitability; Rachel's Organic Dairy — Rachel's Dairy Ltd; Profitability; So Good International Ltd; Profitability; Tropicana UK Ltd; Profitability; Unilever PLC; Profitability; Warburtons Ltd; Profitability; Weetabix Ltd; Profitability; Yakult UK Ltd; Profitability; Yeo Valley Group Ltd; Profitability; Retailers' Own Labels; VITAMINS, MINERALS AND SUPPLEMENTS; Bayer Consumer Care — Bayer PLC; Profitability; BHM Health Group Ltd; Profitability; Boehringer Ingelheim Ltd; Profitability; Chefaro UK Ltd; Profitability; Efamol Ltd; Profitability; Equazen UK Ltd; Profitability; Ernest Jackson & Co Ltd; Profitability; Health Perception (UK) Ltd; Profitability; Klosterfrau Healthcare (formerly Lichtwer Pharma AG); Profitability; Potters Herbal Medicines — Potters Ltd; Profitability; Seven Seas Ltd; Profitability; Solgar Vitamin & Herb; Profitability; Vitabiotics Ltd; Profitability; Wassen International Ltd; Profitability; Wyeth Consumer Healthcare; Profitability; Other Manufacturers of Brands; Cultech Ltd; Profitability; DCC Health & Beauty Solutions Ltd (formerly DCC Nutraceuticals Ltd); Profitability; Nature's Aid Ltd; Profitability; Pharma Nord; Profitability; Quest Vitamins Ltd; Profitability; Retailers' Own Labels; Alliance Boots Ltd; Profitability; Holland & Barrett Retail Ltd; Profitability; Superdrug Stores PLC; Profitability; Tesco Stores Ltd; Profitability; Other Retailers' Own Labels; Mail Order and the Internet
11. The Future: FUNCTIONAL FOODS; VITAMINS, MINERALS AND SUPPLEMENTS
12. Further Sources: Associations and Institutes; Trade Publications; General Sources; Government Publications; Major Manufacturers and Suppliers; Bisnode Sources

Abstract

The nutraceuticals market comprises the combined functional foods and vitamins, minerals and supplements (VMS) sectors. The larger functional foods sector encompasses principally the four areas of: breakfast cereals fortified with fibre and sometimes with vitamins and minerals; probiotic yoghurts and yoghurt drinks; cholesterol-lowering margarines; and soya milks. A newer and growing segment is fortified breads. Fortified breakfast cereals and probiotic yoghurts/yoghurt drinks are claimed to aid digestion, and cholesterol-lowering margarines are targeted at heart health. The use of the cholesterol-lowering active ingredients has been extended to probiotic yoghurts and yoghurt drinks, and to milk and cheese.

The smaller VMS sector is dominated by single and multivitamins, fish oils (mainly cod liver oil), plant oils (largely evening primrose oil), minerals and glucosamine supplement products.

The functional foods sector increased by 8.3% in value terms in the year ending 8th September 2007, a substantial slowing of growth from the 22.1% rise shown in the year to 9th September 2006. This slowdown was accounted for by a decline in sales of probiotic yoghurt drinks (which appear to have peaked after strong previous growth), while sales of cholesterol-lowering margarines and spreads experienced only a slight rise. However, some positive growth was achieved through increased sales of fortified breakfast cereals, probiotic yoghurts and soya milks.

The VMS sector increased by only 0.4% in the year to 12th August 2007, a lower growth rate than the 1.1% rise in the year to 11th August 2006 and continuing the almost static state of the sector. Growth has been dampened over recent years by reports questioning the value of taking extra vitamins and minerals over and above those assimilated in foods, and even suggesting that overdosing is possible. However, it is agreed that some groups of persons do benefit from taking VMS products — and the taking of certain specific supplements (notably glucosamine) has become a feature of the sector.

Both market sectors — i.e. functional foods and VMS products — have been assisted by the ageing population profile of the UK, as the tendency for people to consume these items generally increases with age. As people become older, they are more inclined to realise the value of a healthier diet and lifestyle, are more interested in following this, and in many cases can afford to purchase these, sometimes higher-priced, products.

However, the sectors themselves may be held back by an increasing amount of EU regulation in the near future, such as the Food Supplements Directive (FSD). Regulations mainly concern the need for scientific proof regarding any health claims made for functional foods, and proof of the safety and efficacy of VMS products. Regulations are also concerned with allowable VMS dosage levels. Such regulations may force some VMS products from the sector, although the necessary scientific information is still unavailable in many cases.

Danone leads the functional foods sector in terms of sales value, by virtue of its leading position in probiotic yoghurts and yoghurt drinks. Kellogg is estimated to be placed second in the functional foods sector, owing to its leadership in fortified breakfast cereals and cereal bars, while Unilever is third owing to its top position in cholesterol-lowering margarines and spreads and other products. Nestlé is an important company in the sector, through breakfast cereals and, increasingly, yoghurts. Other dairy companies (such as Müller, Yeo Valley and Onken) are also important players. Alpro is the leading manufacturer of soya milks and yoghurts.

Seven Seas is the dominant producer in the branded VMS sector, with leadership or strong sales in many segments. Branded products account for around 57% of the sector by value, and retailers' own labels represent approximately 43%. Thus, some own-label producers play a significant role in the VMS sector.

Other major manufacturers of branded VMS products are: Bayer, with the former Roche single and multivitamins; Vitabiotics, with a range of specific VMS brands; Potters, which has recently built a position through acquisitions (notably Equazen); and the leader in glucosamines, Health Perception. There has been the start of consolidation among the companies in the sector in recent years, which is likely to continue.

Growth in the combined nutraceuticals market is predicted to slow over the next 5 years, from 4.8% in 2007/2008 to 3.6% in 2011/2012 — partly owing to the increasingly mainstream nature of many products in the larger functional foods sector.

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Nutraceuticals

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Abstract