What is driving the world market in nutraceuticals?
the key factors shaping the nutraceuticals market in North America,
according to the latest analysis from Frost and Sullivan. In Europe
the landscape is dominated by recent legislative changes, writes
Jess Halliday.
The report predicts that the nutraceuticals industry in the US is set to "grow consistently", largely thanks to aging baby boomers, who are prepared to be more adventurous in their efforts to prolong vitality, and more outspoken over healthcare conditions.
Even so, the cost of healthcare facilities in the US is escalating, prompting a large slice of the population to seek more economical alternatives for conditions such as heart disease, menopause and insomnia.
"Nutraceuticals are particularly of interest to the present generation because they have the potential to substantially reduce the expensive, high-tech, disease treatment approaches presently being employed in Western healthcare," write the analysts.
Awareness of nutracutical benefits has also been given a boost in the last two years since the FDA began allowing food companies to make claims about the health benefits of certain ingredients on the packaging.
There has been a discussion as to whether the wording of such claims, which must be couched in very particular terms, is informative or confusing for consumers. But either way, by drawing attention to the purported benefits of an ingredient on the packaging, whether or not they have been fully proven by science, they cannot fail to heighten awareness in America compared with Europe, where such language is prohibited.
In the US regulations such as the nutrition Labeling and Education Act (NLEA) and the Dietary Supplements Health and Education Act (DSHEA) play a part in shaping the industry. But the most recent regulatory changes have been seen in Europe and, since the world market cannot be clearly compartmentalized, the repercussions of these will be felt all throughout the global market.
The EU Food Supplements Directive comes into effect in August 2005 and is expected to have an impact on nutraceutical ingredients such as beta-carotene, lycopene, lutein and astaxanthin. The directive will set limits for primary ingredients in fortified, sports nutrition and other similar food products to restrict the potency.
The Traditional Herbal Medicinal Product Directive, on the other hand, is expected to have a positive influence on the industry as it creates an easier registration process.
These directives apply not only to EU member nations, but also to foreign exporters to the EU.
