Emerging markets, infant formula drive H&W over €600bn

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Emerging markets, infant formula drive H&W over €600bn

Related tags: Nutrition

Ongoing bullish emerging markets and a strong infant formula sector have helped drive the global health wellness sector to $774bn (€614bn) this year, according to Euromonitor International.

That’s a 6.75% increase on 2013 with healthy soft drinks and gluten-free foods also performing strongly.

“Healthy food and beverages are once again outperforming their non-health and wellness counterparts,”​ said Ewa Hudson, global head of health and wellness research at Euromonitor International.

“Healthy soft drinks will account for half of global soft drink retail sales in 2014 and over the next five years, healthy packaged food will account for a third of total packaged food retail sales.”

Infant formula is the world’s fastest growing H&W category putting on €3.4bn this year. Gluten-free sales are up 16%.

Looking forward to 2019, Euromonitor predicted ready-to-drink tea will grow by €11.5bn in the next five years, compared to €10bn growth for energy drinks.

“Driving the growth in health and wellness are emerging markets, adding 87% of absolute growth between 2009-2014,”​ said Hudson.

“Despite this, developed markets still account for 60% of total global health and wellness retail sales. These markets should not be overlooked and instead should be considered an innovation hotspot promoting a more personalised approach to nutrition, with a focus on areas such as brain and vision health or food intolerance.”

Related topics: Markets, Nutritionals, Functional Dairy

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