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UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR THE FOOD AND BEVERAGE MARKET
VITA FOODS ASIA, SEPTEMBER 2014
MINJI KIM RESEARCH ANALYST
© Euromonitor International
2
About Euromonitor International
UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
• Strategic research for over 20 industries • Extensive network of analysts in 80 countries • Global presence, local coverage
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3 UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
MARKET OVERVIEW
ACTIVE AGEING
WHERE ARE OPPORTUNITIES
WHO ARE CONSUMERS
JAPAN
OUTLOOK
600 MILLION PEOPLE AGED OVER 65 IN 2013 GLOBALLY
Japan THE WORLD’S OLDEST COUNTRY WITH MEAN AGE OF 45 IN 2013
56% OF GLOBAL POPULATION AGED OVER 65 IS FROM ASIA PACIFIC IN 2013
© Euromonitor International
6
Asia is ageing UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
% s
ha
re
of
tota
l p
op
ula
tio
n
Population Aged 60+
Population Aged 50-59
Population Aged 40-49
Population Aged 30-39
Population Aged 20-29
Population Aged 0-19
© Euromonitor International
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Older population displays unique characteristics UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
Bargain hunter
Focus on the
necessary
Health is key
Time to spare
INTRODUCTION
ACTIVE AGEING
WHERE ARE OPPORTUNITIES
WHO ARE CONSUMERS
JAPAN
OUTLOOK
© Euromonitor International
9
Life Expectancy and Healthy Life Expectancy: A Seven Year Gap
UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
Life Expectancy vs Healthy Life Expectancy 2013
Active Ageing
INTRODUCTION
ACTIVE AGEING
WHERE ARE OPPORTUNITIES
WHO ARE CONSUMERS
JAPAN
OUTLOOK
© Euromonitor International
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Enriched nutrition
Extra health benefits
Easy to consume
Dairy products have benefits for ageing population UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
© Euromonitor International
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Milk - Japan Drinking Yoghurt - Philippines Powdered milk - Malaysia
New product developments UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
US$1.2 per 200 ml
Fortified with Vitamin E and Fibre
Cholesterol free
Launched in April 2014
US$4.4 per box of seven sachets US$3.8 per 6 bottles of 100 ml
Launched in October 2013
Fortified with Plant stanol ester (PSE) clinically proven to lower bad cholesterol (LDL) levels
Launched in September 2012
Fortified with Omega
Effective in reducing one’s cholesterol level by 7% in 30 days, by drinking one glass of the product daily
Source: Euromonitor International Source: New Straits Times Malaysia
Source: Euromonitor International
© Euromonitor International
13
• More consumers now know of the claimed benefits of antioxidants
Increasing awareness of antioxidants in Asia UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
Anti-aging properties
Prevent or slow the
oxidartive damage
Urinary tract health
May prevent
formation of age spots
Heart health
benefits
Potential anti-cancer
action
Enhanced immune system
© Euromonitor International
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Products with high antioxidants continue to grow UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
Superfruit Juice Ready-to-drink Green Tea Green Tea (Hot drink) Nuts
US
$ b
illi
on
, c
on
sta
nt
20
13
pr
ice
s,
Fix
ed
e
xc
ha
ng
e r
ate
s
Retail value sales in 2008/2013/2018
2008
2013
2018
© Euromonitor International
15
Superfruit Juice - India Ready to Drink Green Tea - Malaysia
Juice Drink- Thailand
New product developments UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
US$1.7 per litre
Strawberry and plum juice to offer nutrient richness and antioxidant qualities
Launched in June 2013
US$ 0.9 per 500ml
Launched in September 2013
It is available in acerola cherry, oranges and black current
Positioning in beauty from within
Launched in June 2013
Positioning in general wellbeing High in antioxidants
Source: http://www.matichon.co.th/news_detail.php?newsid=1379409680&grpid=no&catid=&subcatid= Source: Euromonitor International
Source: Euromonitor International
US$0.80 per 330ml
© Euromonitor International
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Collagen is the star ingredient for anti-ageing in Asia Pacific UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
111.1
147.4
2008 2013
Beauty From Within – Asia Pacific
Retail Value RSP, US$ million
Source: http://www.meiji.com.sg/subcategory.php?subcat_id=63
Source:: http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=103&oid=143&aid=0002086635
© Euromonitor International
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Collagen also positioned to help bone and joint health UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
Skin
Joints
Muscles
Body composition
INTRODUCTION
ACTIVE AGEING
WHERE ARE OPPORTUNITIES
WHO ARE CONSUMERS
JAPAN
OUTLOOK
© Euromonitor International
19 UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
Key opportunity markets: The wealthy, healthy and ready to spend
(5)
-
5
10
15
20
25
30
35
40
0 10 20 30 40 50 60 70 80 90
Healthy Life Expectancy and Population 2013
Hong Kong
Thailand
South Korea
Singapore
China
Japan
Taiwan
Malaysia
India
Healthy life expectancy
Dis
po
sa
ble
in
co
me
pe
r c
ap
ita
; U
S$
‘0
00
Note: Bubble size represents relative total number of population over 65+ in 2013
Indonesia
Philippines
Vietnam
INTRODUCTION
ACTIVE AGEING
WHERE ARE OPPORTUNITIES
WHO ARE CONSUMERS
JAPAN
OUTLOOK
© Euromonitor International
21
The oldest country in the world with mean age of 45 in 2013
High life expectancy of 82.9 and healthy life expectancy of 76.7
Japan – a case study UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
source: http://www.meiji.co.jp/english/business_guide/
© Euromonitor International
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Metabolic syndrome
Locomotive syndrome
Japan: A new key term is emerging CONSUMER TRENDS IN WEIGHT MANAGEMENT ASIA: CHALLENGES AND OPPORTUNITIES FOR THE INDUSTRY
© Euromonitor International
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Japan: FOSHU supports local labelling trends UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
FOSHU: Food for Special Health Uses
Launched by the Ministry of Health, Labour and Welfare in 1991
Individually approved ingredients to carry various health claims
Blood cholesterol level
• Chitosan • Soybean protein • Degraded sodium
alginate
Osteogenesis
• Soybean isoflavone
• Milk basic protein
Blood sugar level
• Indigestible dextrin
• Wheat albumin • Guava tea
polyphenol • L-arabiose
Gastrointestinal conditions
• Oligosaccharides • Lactose • Bifidobacteria • Lactic acid
bacteria • Dietary fiber 8
ingestible dextrin • Polydextrol • Guar gum • Psyllium seed coat
INTRODUCTION
ACTIVE AGEING
WHERE ARE OPPORTUNITIES
WHO ARE CONSUMERS
JAPAN
OUTLOOK
© Euromonitor International
25
Fortified/Functional products have exciting opportunities UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
0
20
40
60
80
100
120
Vitamins andDietary
Supplements
Herbal/TraditionalProducts
Better For You Fortified/Functional
20
13-1
8 C
AG
R %
Retail value sales in 2013 and 2013-18 CAGR growth
Ret
ail
va
lue
RS
P,
US
$ b
illi
on
, C
urr
ent
pri
ces
© Euromonitor International
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Challenges UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
Maintaining high quality
Regulation
Alternative products
© Euromonitor International
27
Active ageing
Dairy Products
Antioxidants/ Collagen
Japan
Key takeaways UNIQUE CHARACTERISTICS OF AGEING CONSUMERS AND OPPORTUNITIES FOR FOOD AND BEVERAGE MARKET
© Euromonitor International
29 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
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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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