Nutrition-driven consumer segment includes 19% of U.S. adult population, expected to quadruple in five years; opportunities in this sector for CPG companies would be best served by tracking with third-party databases, consulting group says
November 3, 2011
– Consumer packaged goods (CPG) manufacturers have an opportunity with an emerging nutrition-driven segment of the population, which comprises 19% of U.S. adults and is expected to quadruple in five years, according to Capgemini, reported Progressive Grocer on Nov. 2.
To take better advantage of this sector by tracking it for product development purposes, CPG companies would be best off using a neutral third-party database rather than attempting to do their own tracking, said the Paris, France-based consulting group.
In a recent study, Capgemini labels this consumer segment as LOHAS, standing for Lifestyles of Health and Sustainability, Progressive Grocer reported.
Americans are increasingly concerned about their health due to groups that are raising awareness of these issues with consumer and regulators. Such groups include government agencies, public interest groups and industry associations.
U.S. sales of gluten-free foods and beverages alone are growing at a 30% yearly compounded rate and will approach US$6 billion by 2015, according to a projection by Packaged Facts, reported Progressive Grocer.
An aging population is increasingly trying to eat healthier foods to help fight such chronic conditions as heart disease. At the same time, a national effort is promoting better nutrition, especially for children.
The healthy product choices are growing rapidly. More than 150,000 new items were introduced by CPG manufacturers in 2010, 96% of these line extensions, according to SymphonyIRI research, Progressive Grocer reported.
Tracking these has become overwhelming for CPG companies, which are turning to third-party product databases for comprehensive, accurate and timely nutritional information on products.
This approach allows CPG manufacturers to have quicker access to the information they need for their own product development, reported Progressive Grocer.
Product attributes that include ingredients, product description and details, warnings, directions, indications, drug interactions, manufacturers’ claims, and nutritional profiles can be quickly tracked across all products in their categories.
CPG companies that try to keep up their own product databases for market intelligence have a never-ending battle of keying in nutritional information that is always changing, Progressive Grocer reported.
The primary source of this article is Progressive Grocer, New York, New York, on Nov. 2, 2011.