Functional foods 5 insights
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Functional foods and beverages have seen significant growth, reaching $176.7 billion in 2013 with a 7% CAGR. To succeed in this category, products must provide a wellness benefit without seeming like medication, relying more on science than marketing claims. Additionally, they must be safe, experiential, intuitive, and validated. The market is led by beverages growing over 10% annually, while foods grow nearly 7% per year. Five insights for success include avoiding line extensions from existing brands, providing a lifestyle solution rather than demanding changed behavior, and ensuring taste and convenience are not compromised for functionality.
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The document provides an overview of functional food development and legislation. It discusses key topics such as the definition of functional foods, common functional food ingredients and their properties, regulations around health claims for functional foods, and guidelines for developing and marketing new functional food products. The document also reviews the functional food framework in the EU and provides examples of regulatory bodies that evaluate evidence to support claims about functional foods and their health benefits.
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drug treatment in the maintenance of health and prevention
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containing the essential nutrients can be more effective than
drug treatment in the maintenance of health and prevention
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labelling requirements and label claims for dietary supplements in USA
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Company goals and objectives are very clear which is mainly about offering healthy drinks.
It also cares about going green and apply sustainability practices throughout operations and manufacturing to protect the environment.
Boosta’s segmentations are Psychographic, demographic and benefit segmentation where they focus on the lifestyle of their customers which is a healthy lifestyle. Also, the benefits the product offers to have better health. But also, anyone can use Boosta drinks as it is healthy, and anyone can get it.
SWOT analysis is conducted to understand initially strengths, weakness, opportunities, threats.
PESTEL analysis also is done although it is still a start-up company at the introduction phase this analysis is done to have the foundation for later on and to have a clear picture of the status quo.
Marketing Mix also to understand how 4Ps impact marketing plan.
Social media platforms are analyzed to expand reach to more customers and to reach all customers through their favorite platform based on their age category.
Marketing Mission Statement
Boosta, aims to provide a healthy energy drink made from organic vegetables and fruits, providing consumers with their daily intake of multivitamins as well as helping boost their energy.
Slogan: Boosta boosts your energy, Immunity and your health.
Market Analysis
The global health drinks market size was valued at USD 478.10 billion in 2019 and is anticipated to expand at a CAGR of 6.06% in terms of value during the forecast period.
It is Found that 59% of consumers in North America purchase products that help save them time and effort.
Millennials are leading the charge by making health-promoting diet and lifestyle choices a priority, as recent studies indicate.
Market segmentations to focus on: Demographic, Psychographic, Benefits.
The U.S. is the largest health drink consuming nation as it holds more than 65% market share of the North America sports nutrition market and approximately 20% market share of the global health drinks market.
The factors such as rising health consciousness along with changing lifestyle with fast-paced living in the U.S., Canada, and Mexico is expected to boost the growth of North America health drinks market over the period 2020 to 2026.
Unique features or proprietary aspects of Product
Boosta Energy drink is different because of its manufacturing process where sustainability practices are applied throughout the entire process to protect the environment. Also, Boosta is an immunity booster drink where anyone can drink to have better immunity and a higher level of energy. Boosta's supply chain process is very well managed and controlled to deliver ...
Advertising plan
Running is a form of physical exercise that involves moving at a speed faster than walking. It is a popular recreational activity as well as a competitive sport. Regular running provides significant health benefits such as improved cardiovascular fitness, weight control, and reduced risk of diseases.
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Report
This document provides a market analysis for a start-up cold-pressed juice business called Detox Bar in Ho Chi Minh City, Vietnam. It analyzes the juice market trends, competitors, and macroenvironmental factors. Key points include that the healthy juice market is growing as consumers seek more nutritious options. Competition in the cold-pressed juice space is high due to many direct competitors emerging. The document also provides a PESTEL analysis, five forces analysis, and overview of the target customer demographics and psychographics.
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catherine.mcquaid@trustrobin.net
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Running Head Whole Foods, Inc. .docx
Running Head: Whole Foods, Inc. 1
WHOLE FOODS 6
Introduction
The purpose of this project is to provide a strategic plan for Whole Foods, Inc. This strategic plan will be composed of identifying strategies and how they are used at the corporate, business, and functional levels of Whole Foods Market. The following areas will be analyzed: vision, mission, organizational background, long term objectives, strengths, weaknesses, opportunities and threats.
Vision and Mission Statement
“The mission statement should define the purpose of the organization, customers, products or services, markets, philosophy, and basic technology” (Characteristics of a Mission Statement, n.d., para.7). Whole Foods Market is a company whose vision and mission statements are expressed through its core values. WFM focuses on providing the highest quality of natural and organic products, satisfying customer needs, promoting excellence in their team members, and exercising stewardship over shareholder investments. The mission also ensures to address their stakeholders by expressing social and environmental responsibility to the local and global communities.
Background Organization
John Mackey and Renee Lawson Hardy, owners of Safer Way Natural Foods merged with Clarksville Natural Grocery owners Craig Weller and Mark Skiles to form the original Whole Foods Market in 1980 located in Austin Texas. Boasting with a staff of 19 personnel, Whole Foods Market was seen as an immediate success due to the high demand for natural food supermarkets in the U.S. Today, the company is one of the top leaders in organic sells with more than 430 stores, throughout the U.K., Canada and 42 U.S. states (Whole Foods News Facts). The company continues to provide the best natural and organic foods while maintaining strict quality of standards.
Mackey, cofounder and CEO believes Whole Foods Motto – Whole Foods, Whole People, Whole planet sets the standard for reaching far beyond just a food retailer. He attributes the success in fulfilling the vision by marketing high-quality natural and organic foods to communities helping to change the eating habits of individuals in a way that attribute to the longevity of life and health.
In 2015, Whole Foods Market placed No. 18 on Fortune’s World’s Most Admired Companies’ list as well as No. 25 on the list of companies that have the best corporate, social, and responsible reputations among the U.S. public. COO, A.C. Gallo states “Whole Foods Market has consistently stayed true to its mission by putting a clear set of core values into practice that actively help make our planet a healthier, more prosperous, and more sustainable place” (Whole Foods Newsroom, 2015).
Industry Analysis
The natural and organic food indu.
Emerging Markets: Healthy food and drinks, leaders and laggards - Aug 2016
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Launching dietary supplements successfully in India.
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Functional foods 5 insights
- 1. How to Succeed in! Functional Foods:! 5 Insights to Chew On By Peter Leighton!
- 2. unctional foods & beverages have demonstrated not only their staying power as a new category of products, but they have actually been driving growth in the food industry.! Consumers don’t want to eat ! from their medicine cabinet.! Successful functional products provide a wellness benefit but they don’t masquerade as a therapeutic. Rely on science for validation, not as a primary selling point. For “serious” health conditions, consumers have Rx options that are more validated and reimbursed by insurance.! Four factors must converge in the product development process.! Functional Foods! Safe! Experiential! Intuitive! Validated! The product must be experiential in taste, convenience and/or user benefit; It must be an intuitive or simple concept/delivery system for !the consumer; It must be ! ! endorsed, validated, and ! adopted by stakeholders; ! And it must be safe at !various “doses”.! The global market for functional foods & beverages will reach $176.7 billion in 2013 with a CAGR of over 7%. Beverages lead the category, growing at a rate of 10.8%, with foods increasing at 6.9%. Euromonitor looks at fortified/functional products as a $246 billion segment of health and wellness-positioned packaged foods and beverages, equaling about one third of the category. Between 2007-2012 this segment showed a 42% sales increase (compared to 29% achieved by organic products and 28% registered by the better-for-you category), and functional foods & beverages now comprise about five percent of the overall US food market, which is stagnant in comparison at about 1-3% annual growth.! The following summary outlines five insights that drive success in this growing, but complex category: !
- 3. Avoid line extending from an existing brand.! Most successful functional products built new brands and created new sub-categories. Existing brands likely don’t carry “functional” credibility. ! If you put lipstick on a pig, it’s still a pig. ! Provide a lifestyle antidote.! Consumers eat to enjoy, and everything else is secondary. If a product cannot deliver on taste and provide a convenience benefit, it doesn’t matter how functional it is, consumer adoption will be low.! Consumers are not going to alter their behaviors very much. What they want is an antidote to their toxic lifestyle habits or a no-compromise alternative to their current product choices. ! Taste & convenience are critical.! Abunda is an integrated consulting group, designed to offer top tier management and strategic solutions to growth-oriented companies. Our mission is to deliver value through innovative market approaches and increased profitability. Abunda delivers solutions for the life sciences, health & nutrition and functional foods markets. www.abundasolutions.com! Peter Leighton! peter@abundasolutions.com! +001 (801) 550-6962! SKYPE: advana_science!Contact:!