Functional Foods Market Continues Expansion

Functional Foods Market Continues Expansion

NEW YORK--Frost & Sullivan announced a projected increase in functional food sales, according to recent research by the consulting and research firm. Functional foods dominate food producers' strategies, explained Anna Ibbotson, Food Programme Manager with Frost & Sullivan. "Activity within the food industry continues to focus upon the functional food sectors with the launch and development of numerous functional ingredients and products during 2001," she said. "Large food and beverage companies through in-house R&D, relationships with ingredients manufacturers or acquisition strategies are increasing their product portfolios to incorporate functional products in a bid to maintain market share and margins in an ever price-conscious and competitive market." Ibbotson also stated that the dietary supplement industry is seeing the functional food market's influence with more single- and multi-supplements containing a greater array of ingredients from plant extracts to amino acids. "Increased investment in R&D, branding and strategic alliances with technology providers is driving development within this sector, as well as reliance on scientific research to support claims and educate consumers," Ibbotson said.

Among its other reports, Frost & Sullivan also projected a growth in the polyphenols market, from $99 million in 2001 to $144 million by 2008. Frost & Sullivan (www.food.frost.com) has additional food reports available: European Market forPhytonutrients, European Flavourings in Food Products Market, European Protein Ingredients Market, Strategic Analysis of the U.S. Nutraceuticals Market and U.S. Fat Replacers Market.