Sales of functional food, drinks and supplements will grow 38% to reach $40 billion in 2008, according to Datamonitor’s “U.S. functional food, beverages and supplements—inside-out health and beauty—you are what you eat” report. Researchers said the market is driven by quick fixes for health and beauty and well-being. More than 66% of consumers actively maintain their health.
Beauty drinks nearly doubled between 1998 and 2003 and are forecast to grow 46% to $7.4 billion by 2008. These drinks emphasize indulgence rather than just health, linking beauty with enjoyment and pleasure in the U.S. Although beauty foods, beverages and supplements currently account for only 2% of the total nutraceuticals market, Datamonitor predicts they will grow 14% between 2003 and 2008. Promises of beauty benefits influence 43% of consumers when they purchase nutraceuticals and 46% want healthier skin, hair or nails. In addition, beauty worries span all generations and genders.
Datamonitor’s research revealed marketing emphasis and availability have influenced the success of functional foods, beverages and supplements more than consumer demographics. Consumers want positive, upbeat messages and convenient locations. More info: www.datamonitor.com.