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NEWS FROM SCIENTIA ADVISORS
1 Main Street Cambridge, MA 02142 617-299-3000 www.scientiaadv.com
December 17, 2008
SCIENTIA ADVISORS FORECASTS BRIGHT FUTURE FOR “FUNCTIONAL FOOD” MARKET
International management consulting firm predicts rapid growth,
global sales of nearly $200B by 2012 for medicinal foods, nutraceuticals,
worldwide; far outpacing conventional food, pharma. Key factors include
aging US population, rising healthcare costs, robust science, company
innovation.
Cambridge MA and Palo Alto, CA-- With many industries in the doldrums,
Scientia Advisors
is pleased to forecast continuing robust growth in the functional foods
marketplace, worldwide.
In a study released today, Scientia, an international management consulting
firm, predicts an annual compound growth rate of seven percent through 2012,
averaged across all segments of the industry. The rapid rise will bring
global sales of functional foods to $195B—a 52 percent gain over 2006 sales
of $128B.
Functional foods, sometimes called “medicinal foods” or “nutraceuticals,”
are those fortified with naturally-occurring ingredients that provide health
benefits beyond basic nutrition.
Functional foods may include probiotics (microorganisms that provide health
benefits), Omega 3 (fish oil) extracts,
phytonutrients (substances found in plants such as soy beans, blueberries or
grapes) or other natural substances. Some of these ingredients can
reduce the risk of certain diseases or help manage chronic conditions such
as diabetes or heart disease. Others can enhance physical and athletic
performance, memory, or cognitive performance.
The study describes a constellation of factors responsible for the expected
growth in various parts of the world, particularly in the US and China. It
predicts that the trend will help reduce health care costs and identifies
factors responsible for the commercial success of some functional food
products and the disappointing sales of others.
The predicted seven percent rate essentially continues the eight percent
annual compound growth rate seen in the functional foods market between
2003-2006. It is nearly twice the four percent growth rate Scientia predicts
for conventional foods and pharmaceuticals through 2012.
The
Scientia study
, led by Scientia Principal Bob Jones, was based on extensive interviews
with scientists, clinicians, manufacturers and product developers, as well
as on traditional market research.
View complete release
Download the study from Scientia Advisors’ Web site
Scientia Advisors
is an international management consulting firm specializing in growth and
operational strategies for major and emerging companies in health care, life
science and biotechnology, worldwide.
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