Australian ‘health and wellness’ products including functional foods, supplements and personalised nutrition, along with more sustainable products such as alternative protein, will become a AU$25bn billion market by 2030, according to new data.
Guangzhou-based probiotic yoghurt producer Honest Dairy and light protection technology company Noluma have developed what is claimed to be China’s first functional yogurt product contained in a light-protected packaging.
Kirin is seeking to secure new markets for its functional food brand “iMUSE”, which contains the lactic acid bacteria Lactococcus Plasma, with work also underway to include another strain, Lactobacillus KW.
If major food manufacturers are not striving to make genuinely healthier products then they are shaping up for failure, according to a former senior research and development executive at Unilever and Masan Consumer.
The Korean functional food market hinges on obtaining the nation’s precious ingredient claim approval, but breaking that barrier opens the floodgates to huge market potential, according to an industry expert.