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Older Consumers Likely To Drive Future Growth In Functional Food Market, Mintel's Study Predicts

May 22, 2013: 12:00 AM EST
Older consumers are more willing to spend money on functional foods, according to the research "The Impact of an Aging World" presented by Mintel food science analyst Laura Jones at the Vitafoods conference in Geneva, Switzerland. Functional food marketers are expected to focus on U.S. consumers older than 55 years who have twice the disposable income of consumers below 25 years. In the U.K., consumers aged 50–64 years spend 50 percent more on foods and drinks compared with consumers younger than 30 years. Jones also forecast that functional foods aimed at dealing with various concerns of seniors, including weight loss and cardiovascular health, could replace over-the-counter medicines.
Sean Moloughney, "Aging Consumers Offer Ripe Opportunities in Nutrition", Nutraceuticals World, May 22, 2013, © Rodman Media
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