consumer trends in weight management in asia pacific: challenges and opportunities for the industry
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CONSUMER TRENDS IN WEIGHT
MANAGEMENT ASIA PACIFIC: CHALLENGES
AND OPPORTUNITIES FOR THE INDUSTRY
VITAFOODS ASIA, SEPTEMBER 2014
MINJI KIM RESEARCH ANALYST
© Euromonitor International
2 CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
About Euromonitor International
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Serving Western Europe
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bar China, India, Japan, Australasia
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and the Pacific region
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America
• Strategic research for over 20 industries
• Extensive network of analysts in 80 countries
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© Euromonitor International
3 CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
© Euromonitor International
4
INTRODUCTION
WEIGHT MANAGEMENT OVERVIEW
KEY PRODUCT DEVELOPMENTS
CONCLUSION
© Euromonitor International
5
US$163 of weight management retail sales globally in 2013
Japan takes the largest value sales with US$5.7 billion in 2013
12% represented by Asia Pacific in 2013; This region achieved 57% value growth between 2008-2013
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CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
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Over 2 billion overweight and obese globally, led by China
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
-
20
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ilip
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Mil
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n p
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le a
ged
15
+
Top 30 Overweight and Obese Countries (BMI>25)
2008
2013
2018
© Euromonitor International
7
0
10
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60
Sw
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Norw
ay
Austr
alia
US
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Austr
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Arg
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US
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0 p
er
cap
ita
Annual Disposable Income
2013 2018Constant Prices, Fixed 2013 Exchange Rates
Rising annual disposable income
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
© Euromonitor International
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Other growth driving factors
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
Hectic life style
Campaigns
Social influence
Education on health risks of being
overweight
© Euromonitor International
9
INTRODUCTION
WEIGHT MANAGEMENT OVERVIEW
KEY PRODUCT DEVELOPMENTS
CONCLUSION
© Euromonitor International
10 CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
Asian market shows strong outlook
0.0
1.0
2.0
3.0
4.0
5.0
6.0
US
$ b
illi
on
, Y
ea
r-o
n-y
ea
r e
xc
ha
ng
e r
ate
Weight management retail vale sales in 2008/2013
2008
2013
© Euromonitor International
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Japan
Meal Replacement Bottled Water
Carbonates Concentrates
RTD Tea Confectionery
Dairy Ice Cream
Meal Replacement Oils and Fats
Sauces, Dressings and Condiments Spreads
Developing countries have high potential to grow
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
India
Carbonates Dairy
Meal Replacement Other Food
Weight Management Retail Value Sales
By Product Type 2013 – % share
© Euromonitor International
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Reduce unhelpful
ingredients
Add functional
ingredients
Consumers remain interested in keeping a healthier diet
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
© Euromonitor International
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Demand for balanced nutrition becomes more prominent
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
2008 2013 2018
US
$ b
illi
on
, C
on
sta
nt
20
13
Pr
ice
s
Meal Replacement Slimming retail value sales - Asia Pacific
Meal Replacement Slimming
South Korea has the largest market
size of US$ 588 million
in 2013
Indonesia records the fastest
growth rate of nearly
1,000% between 2008 -
2013
Source:
http://products.herbalife.com.sg/we
ight-management/formula-1
© Euromonitor International
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Functional ingredients in beverages promise faster weight loss
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
Source:
http://www.philstar.com/health-and-
family/2013/01/08/894309/be-fit-not-fat-2013
With L-Carnitine With Bitter gourd With Ginger
Source:
http://www.agv.com.tw/index.php?apps=pro
duct&action=show&cat_id=13&id=88
With Chlorogenic acid
Taiwan Philippines Japan
Source: Own photo
© Euromonitor International
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Naturally healthy beverages also register strong demand
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
2013-14 2014-15 2015-16 2016-17 2017-18
Re
tail
va
lue
ye
ar
-on
-ye
ar
gr
ow
th %
, c
ur
re
nt
pr
ice
s
Reduced Sugar Beverages
Fortified/Functional Beverages
Bottled Water
RTD Tea
Retail value growth rate % 2013-18
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Governments take the initiative: Hong Kong
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
Sources: http://restaurant.eatsmart.gov.hk/eng/home.asp
© Euromonitor International
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Governments take the initiative: Thailand
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
“Balanced nutrition
in foods”
Sources: http://www.raipoong.com/media/download/leaflet_food_exchange.pdf
© Euromonitor International
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Governments take the initiative: Singapore
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
Sources: http://www.hpb.gov.sg/HOPPortal/programmes-article/HPB053006
© Euromonitor International
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Technology developments continue
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
According to Noom Korea, for one year since the application was introduced
1.3 million of people newly registered in Noom Diet Coach 106,276 of Facebook users liked Noom Korea fanpage People lost 17,802,327kg using Noom application
https://itunes.apple.com/sg/app/idat/id470823071?mt=8
© Euromonitor International
20
INTRODUCTION
WEIGHT MANAGEMENT OVERVIEW
KEY PRODUCT DEVELOPMENTS
CONCLUSION
© Euromonitor International
21 CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
Key product developments: Weight loss + Skin Care
Source:http://news.naver.com/main/read.nhn?mode=
LSD&mid=sec&sid1=101&oid=001&aid=0006956346
Unique selling point
• 140ml functional drink and two pills of ‘Panduratin A’, an extract of Kaempferia pandurata
• High fibre
• Claim to help weight-loss and skin recovery together
© Euromonitor International
22 CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
Key product developments: Cola for weight management
Source:http://japandailypress.com/adult-
drinks-carbonated-soft-drinks-for-the-
health-conscious-078483/
Unique selling point
• Fortified with indigestible dextrin
• Claims to limit absorption of fat with reduced sugar
• Certified as ‘FOSHU (Food for Special Health Uses)’ beverage
© Euromonitor International
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Key product developments: Totally reformulated product
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
0 20 40 60 80 100 120 140
France
UK
Poland
Netherlands
US$ million, fixed exchange rates
Regular Sprite, now with stevia
2013 2012 2011 2010 2009
© Euromonitor International
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INTRODUCTION
WEIGHT MANAGEMENT OVERVIEW
KEY PRODUCT DEVELOPMENTS
CONCLUSION
© Euromonitor International
25
US$202 of weight management retail sales globally in 2018
Emerging countries
13% of this market accounted for by Asia Pacific in 2018
bil
lio
n
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
will show dynamic growth in the forecast period
© Euromonitor International
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Challenges
CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
Limited growth
High price
Safety issues
Competition
Regulation
Lack of awareness
© Euromonitor International
27 CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA PACIFIC: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
Key takeaway
Weight management
Functional ingredients
India/Japan
Increasing competition
Innovation
THANK YOU FOR LISTENING
Q&A
Minji Kim Research Analyst Minji.kim@euromonitor.com.sg
© Euromonitor International
29
Health and wellness food and beverages comprises the following Euromonitor International categories:
Weight management: Non-prescription medication as well as packaged foods and beverage positioning as weight management by reducing sugar or far or by adding functional ingredients to help weight lost
Better for you (BFY): Items where the amount of a substance considered to be less healthy has been actively reduced, removed or substituted during production. In turn, this forms part of the product's positioning/marketing, like low-fat or low-sugar versions of "standard" products . Products which are naturally free of, for example, fat, salt or sugar, are excluded.
Fortified/functional (FF): Products to which ingredients with purported health benefits have been added, and which have a specific physiological function and/or are enhanced to the point where the level of added ingredients would not normally be found. To merit inclusion, the product must have been actively fortified/enhanced during production. As such, inherently healthy products, like 100% fruit/vegetable juices, are only included if additional functional ingredients have been added.
Naturally healthy (NH): Products that naturally contain a substance that improves health and wellbeing beyond the product's pure calorific value, eg olive oil, honey, soy-based food and beverages, green tea, 100% fruit/vegetable juice and naturally high-fibre food (eg bread, breakfast cereals, pasta). While many of these products are marketed on a health basis, this need not necessarily be the case.
Glossary of terms
APPENDIX
© Euromonitor International
30 APPENDIX
Food Intolerance (FI)
Organic (O)
• O+FF, O+BFY, O+NH
Fortified/Functional (FF)
• FF+BFY, FF+NH
Better For You (BFY)
• BFY+NH • Fat(4) SugarCarbsSalt (1)
Naturally Healthy (NH)
Health and Wellness Taxonomy
Exceptions:
Yoghurt: - FF most important
Spreadable Oils & Fats: - FF most important
Breakfast Cereals: - FF least important
because all cereals are fortified as the industry standard
© Euromonitor International
31
Digestive Health
Probiotics
Prebiotics
Fibre
Weight Control
Fibre for
satiety
Fabuless - satiety
CLA
L’Carnitine - fat burning
High protein
Green tea
extract
Konjac mannan
Heart Health
Plant sterols/ stanols
Omega-3 ALA, DHA, EPA
Peptides
Beta glucans
Soluble fibre
Soy proteins
Folate
Vit K
Pectins
Bone and Teeth
Sugar-free gum
Calcium
Fluoride
Vit D
Beauty from
Within
Collagen
CoQ10
Lycopene
Antioxidants
Beta-carotene
Vit C
Selenium
Vit B2, B3, B7
Zinc
Vit A CoQ10
Vit E
APPENDIX
Focus on ingredients and prime positioning
Aloe Vera
Immune Support
Vit C
Anti-oxidants
Probiotics
Vit D
Selenium
Vit B 12
Brain Health
Omega-3 ALA, DHA, EPA
Caffeine
CoQ10
Vit B1, B3, B6, B7, B12
Magnesium
Energy / Sport
Nutrition
Whey protein
Creatine
Magnesium
Electrolites
Proteins
Vit B6
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