Boomers Fuel Fortunes for Functional Foods

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Baby Boomersrsquo; lust for a healthy life is fuelling the fortunes of foods and drinks with health benefits, even in the teeth of recession, according to a report from Julian Mellentin titled ldquo;10 Key Trends in Food, Nutrition and Health 2010.rdquo;br /div nbsp;/divdiv While consumers are willing to cut back in many areasmdash;electronics, cars and luxuriesmdash;they see products that provide a benefit that they need as good value-for-money, even when they are sold at super-premium prices.br / nbsp;/divdiv ldquo;From the age of 40, maintaining good digestive health; from 50, looking after your heart; from 60, keeping your joints free from discomfort are increasingly the top concerns of mature consumers around the world,rdquo; said Mr. Mellentin, ldquo;and brands that address these issues have recorded growth rates of 20% or more during the economic recession, despite premium pricing.rdquo;br / nbsp;br / Consider the following growth figures for 2009:br / nbsp;br / strong Digestive Health/strong/divdiv nbsp;/divdiv In the US, General Millsrsquo; Fiber One breakfast cereal brand increased its sales by 20%, to more tan $225 million. In the U.S. Yakult increased its sales by 44%. In Italy, although the economy shrank by 6%, sales of Danonersquo;s premium-priced Activia digestive health brand actually grew by an impressive 19.5%, to euro;222.5 million ($325 million), according to IRI. In the UK, the economy shrank by 5.2% and the overall yogurt market was static (Nielsen), yet sales of the Activia brand grew 32% to over euro;270 million ($314 million)./divdiv strongbr / Cholesterol-Lowering/strong/divdiv nbsp;/divdiv Italians embrace food as a way of maintaining health, even in the teeth of economic gales. Danonersquo;s Danacol cholesterol-lowering brand, which is based on plant sterols, earned euro;72.7 million ($106 million) in retail sales in 2009, a 28.8% increase (IRI data). For a brand that sells at a 100%+ premium, to achieve this growth even while the Italian economy contracted by 6% is quite an achievement. Pro rata Danacolrsquo;s performance to a market the size of the U.S. and it would be a $500 million brand./divdiv Benecol cholesterol-lowering drinkmdash;the most expensive dairy product in the UK supermarketmdash;actually increased its sales in 2009 by 18.8% to pound;39.2 million ($61 million/euro;44.6 million)./divdiv nbsp;/divdiv strongJoint Health/strong/divdiv nbsp;/divdiv In the US, Elations juice drinks with added glucosamine were on track for sales of $55 million (euro;37 million) in 2009 and on a path to reach $85 million (euro;57 million) in 2010. In 2008, Elationsrsquo; sales were just $15 million (euro;10 million)./divdiv nbsp;/divdiv ldquo;That these premium-priced brands have done well in the recession seems counter-intuitive,rdquo; said Mr. Mellentin. ldquo;But given that many of todayrsquo;s over-50s, and in particular over 65s, have little or no debt, have often accumulated significant assets and have more disposable income to spend on their health than any previous generation, we should not be surprised that the boomers are now driving the growth of brands that address their main health concerns.rdquo;br / nbsp;br / ldquo;What these brands have in common and what the boomers want is that they actually work,rdquo; Mr. Mellentin concluded. ldquo;Benefits based in proven science will become an even more important competitive advantage for anyone targeting these mature consumers.rdquo; br / nbsp;br / Benecol, for example, is one brand that has already benefited from being able to say its health claim has been ldquo;approved by the European Commission.rdquo; Sirco juicersquo;s claim to help ldquo;maintain a healthy blood flow and benefits circulationrdquo; is another one of the few signed off by EU regulators. In test markets Sirco found that its buyers were overwhelmingly aged over 60 and formed a loyal hardcore with a high repeat purchase pattern.br / nbsp;br / Of Europersquo;s 500 million people 20% are over the age of 65 and the average age of the population is 41. By 2030 30% will be over the age of 65. With figures like these in prospect, the market faces a new era of growth./divdiv nbsp;br / Mr. Mellentinrsquo;s 10 Key Trends for 2010 are:/divdiv nbsp;/divdiv Digestive health ndash; a mega-trend moves beyond the tipping point/divdiv An intrinsic health benefit thatrsquo;s also convenient/divdiv Feel the benefit ndash; the most powerful marketing message/divdiv Energy ndash; a world of untapped opportunities/divdiv Fruit and superfruit ndash; the future of food and health/divdiv Antioxidants ndash; big in America, dead in Europe?/divdiv Weight management/divdiv Healthy snacking/divdiv Packaging and premiumisation/divdiv Bones and movement/divdiv nbsp;/divdiv The report also includes seven Micro-Trends:/divdiv nbsp;/divdiv Protein power/divdiv Kidsrsquo; nutrition/divdiv New life for heart health and cholesterol-lowering?/divdiv Probioticrsquo;s new prospects/divdiv Immunity ndash; a great claim thatrsquo;s hard to use/divdiv Fresh start for omega 3?/divdiv Beauty an ultra-niche opportunity/div

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