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World’s fastest growing functional food in 2013? Infant formula by far


Energy drinks were the next best adding about $3.5bn for the year, followed by pre- and probiotic yoghurts at about $2.4bn, and still waters at about $2bn.

The Euromonitor researcher did not give absolute market size figures – just the gains in a health and wellness category it estimated to have grown to $50bn+ in 2013.

‘Functional and fortified foods’; ‘organic’ and ‘better-for-you foods’ all increased growth in 2012-2013 after growth slowed in preceding years.

Analyst Diana Cowland told that infant formula’s rapid expansion was set to continue with growth of 11% CAGR until 2018 being driven by Asia and more particularly, China.

“As consumer education regarding functional ingredients grows, consumers are demanding more added value from the milk formula through the likes of ingredients such as prebiotics and omega-3,” Cowland said.

“It is the rapidly expanding base of middle-class consumers in emerging economies, with high aspirations for their children and a willingness to make sacrifices, which is the prime target audience for products containing ingredients which benefit developing brains.”… Read the full article