Nowadays, the process of aging is becoming more and more unpopular. The market is full of remedies against the signs of aging, some of dubitable worth. In a more scientific approach, “anti-aging” researchers have examined the effects of nutrients on pathologic metabolism.
After the first discoveries of significant effects, the impact of this new discipline was extraordinary. Researchers and the pharmaceutical industry as well as nutritional and retail companies enthusiastically started to develop frameworks to combine clinical expertise with the new concept of private health prevention. In the late 1980’s, the term “functional food” was coined in Japan.
High customer acceptance from the beginning has brought on an expansion of the “functional food” market segment from the early 1990’s on, rendering the market more and more competitive. For competing enterprises, identifying the determining factors of customer acceptance is therefore of great importance.
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Table of Contents
1. Introduction
2. Basic Key Elements of Business Research
2.1 Theoretical Foundation
2.2 The Scientific Method
2.3 The Meaning of Theory and Research
2.4 Secondary Research
2.5 Advantages and disadvantages of secondary data
3. Functional food - taste for health?
3.1 The Industry
4. The Market
4.1 Consumer acceptance of functional food
5. Conclusion
Research Objectives and Core Topics
This assignment examines the market for functional food to determine how consumer acceptance and industry strategies influence the success and growth of this sector, while also outlining the fundamental principles of business research methodology.
- The evolution and definition of functional food products.
- Market dynamics and regional growth patterns in the functional food industry.
- Key drivers of consumer acceptance, including health beliefs and socio-demographic factors.
- The application of secondary research methods in business and market analysis.
Excerpt from the Book
Functional food - taste for health?
Functional food as a marketing term was established in Japan in the early 1980’s. It is used to describe foods supplemented with ingredients believed to have beneficiary health effects. Definitions range from simple to complex. Nowadays the official definition is “Food that may provide health benefits beyond basic nutrition and serve physiological roles beyond the provision of simple nutrient requirements”.
Due to a heightened consumer awareness, which stresses the relationship between health and nutrition, functional food becomes more and more popular in the private health care sector. Food and pharmaceutical industries were enthusiastic about developing such products because the added supplements increase a product’s “value” for promoting the consumer’s state of well-being and possibly even reducing the risk of disease. The global market for functional foods is highly dynamic and rapidly growing. In the past, half of the sales volume was to be found in Japan with the fastest rate growth rate currently seen in the United States.
Functional food is found virtually in all food categories, however products are not homogeneously distributed over all segments of the growing market. Major clusters are (fig.10):
Fortified products (e.g. fruit juices with vitaminc )
Altered products (e.g. fibers as fat releasers in meat or ice cream)
Water and teas, supplemented with herbs, vitamines, ginko etc.
Enriched products (e.g.margarine with omega 3 fatty acids, pro-, prebiotics)
Enhanced commodities (eggs with increased omega 3 fatty acids achieved by altered chicken feed)
Iodine, fluorid and folic acid supplemented salt
Summary of Chapters
Introduction: Provides the background on aging and the emergence of the functional food sector as a response to lifestyle-related prosperity diseases.
Basic Key Elements of Business Research: Defines the scientific method and theoretical framework required to conduct valid business research, focusing on secondary data collection.
Functional food - taste for health?: Explains the origins and definitions of functional food and categorizes the types of products available in the market.
The Market: Analyzes the economic performance, growth trends, and regional differences in the global functional food sector, with a focus on Europe and the US.
Consumer acceptance of functional food: Identifies the socio-demographic characteristics and psychological drivers that determine why consumers purchase functional food products.
Conclusion: Summarizes the key factors for market success, emphasizing that health concerns are the primary driver, though product quality and taste remain essential.
Keywords
Functional Food, Business Research, Consumer Acceptance, Secondary Research, Probiotics, Prebiotics, Market Growth, Health Awareness, Nutrition, Pharmaceutical Industry, Socio-demographics, Metabolic Syndrome, Anti-aging, Food Technology, Consumer Behavior
Frequently Asked Questions
What is the primary focus of this research assignment?
The assignment investigates the functional food sector, exploring the reasons behind its market success and the role of consumer behavior in its ongoing growth.
What are the core thematic areas discussed in the work?
The work covers scientific research methodologies, the definition and classification of functional food, global market trends, and the psychological determinants of consumer acceptance.
What is the central research question?
The central question addresses the extent to which the success of functional food products is driven by consumer acceptance and how industry players can identify these influencing factors.
Which scientific methodology is applied here?
The assignment is based on secondary research, which involves the critical analysis and compilation of existing data, studies, and expert industry reports.
What topics are covered in the main body?
The main body treats the theoretical foundation of business research, the industrial landscape of functional foods, regional market analysis, and the specific factors influencing consumer purchase decisions.
Which keywords best describe this study?
Key terms include Functional Food, Consumer Acceptance, Secondary Research, Market Growth, Nutrition, and Health Awareness.
Why are multinational companies particularly interested in functional foods?
Multinational companies possess the necessary clinical expertise, food technology resources, and marketing power to prove health claims and scale production to meet rising consumer demand.
How does the European market for functional food compare to Japan and the US?
While historically less developed, the European market shows significant growth potential, although it remains heterogeneous with notable regional differences in consumer preferences for natural versus functional foods.
- Arbeit zitieren
- Dr. Kadir Yilmaz (Autor:in), 2009, Functional food: health care or profitable business?, München, GRIN Verlag, https://www.grin.com/document/127430
