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The Evolution of Beauty Ingredients in Food and Drinks: Innovation and Future Strategies for Success
Business Insights, Sep 2009, Pages: 141
The concept of what is good for the inside must be good for the outside is a mantra captured by the by evolving market of beauty through better nutrition. The current buzz words of cosmeceuticals, dermaceuticals, biocosmetics and nutricosmetics are used to describe the application of ingredients traditionally found in foods offering skin health benefit. Following the modern day recognition of the nutricosmetic market by Raymond Reed, the commercialisation of foods and beverages offering beauty benefits has emerged as a standalone category. The potential of this market is yet to be fully realised but its consumer based reaches across genders, age groups and continents.
This report provides a unique insight and analysis into the what key consumer messages, ingredients, and brand security is required to develop a finished product. The following chapters of the report will provide the required fiscal analysis, forecasting, NPD, and well-informed and practical steps needed to deliver such products within the beauty space.
Key benefits from reading this report
- Understand the key growth countries within Europe and the global potential of the US and Asian beauty food category.
- Gain and invaluable insight into the current consumer perspective on this under exploited market and help design you products to meet their demands.
- Evaluate the current crop of beauty food ingredients impacting the market and the next generation of branded and generic ingredients making a name within this category.
- See the most successful products and brands and what strategies they have utilised to become a profitable and sustainable within this market.
- Gain valuable guidance into what 6 key factors should be utilised in navigating this market when looking to design, market and launch a function beauty product .
Key findings of this report
By 2011, the market is expected to be an estimated $6.6bn, with a strong growth rate of 4.8% predicted between 2008-2011.
By 2011 the US will be the largest market for anti-aging skincare goods, which is set to accelerate to double-digit growth over 2011–14, at a CAGR of 11.8%.
Out of the Asia Pacific countries, one of the most over looked in terms of potential by the western research analysts is South Korea. Current estimates place the value of this market at around $296m, rising to $426m by 2014.
Beauty foods in the UK represent the greatest growth over 2006–2011 (15.6%) and also leads in dietary supplement growth (9.6%). Unlike the US, consumer in the UK are generally more accepting of functional foods and as such may be an early adopter for this category.
Of the new products classified as being innovative between 2005 and 2008, 15% had a packaging benefit. This was the second largest source of innovation after formulation, which accounted for 68% of new products classified as innovative.
Any claim made on a product taken orally falls under EU food law, and a 'beautifying effect' must be brought about by a physiological reaction to the ingested nutricosmetic (a biological active ingredient or formulation). Any effect claimed to occur, even visual, must be initiated from within and as such is influencing a biochemical and physiological process. Under this premise, all claims made by manufacturers selling nutricosmetics must comply with the EU nutrition and health claim directive EC 1924/2006, and supply evidence to support any claims with regard to the modification of physiological function.
Key questions answered by this report
- What markets will experience double digit growth over 2011-2014?
- Of the Europeans market which countries will crack the $150mn mark by 2011?
- How will the US market grow until 2016? And will it be competitive with Europe and Asia?
- Of foods, beverages and dietary supplements which is set to be the delivery format of choice based of value and consumer insight data?
- What are the 11 key driver and inhibitors of growth within the beauty category?
- How are consumers describing beauty across the EU, US and Asian markets and is there a significant difference?
- What is the perception of beauty across multiple age and gender groups?
- What is the impact of media, experts and professional associations on consumer perception of product efficacy?
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Future Ingredient Trends in Food and Drinks: Growth Opportunities in Natural, Wellness, Functional, Weight Control, Exotic Products and Food Safety
NPD in Preventive Health: Growth Opportunities in Cosmeceuticals, Targeted and Performance Enhancing Food and Drinks
Women’s Health in Food and Drinks: Future Functional Ingredients and Innovations
Future Product Opportunities in Cosmeceuticals: Innovation In Food and Drinks With Beauty Benefits
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