Professional Documents
Culture Documents
ASIA PACIFIC
accounts for around 6% of the total edible oil market in India. Similarly, almost one-third of the
total product launches in China over the last three
years have been in the health segment.
Companies are also coming out with products
featuring functional claims to market their products (see Figure 2, below). While such products
are already available in the developed regions, it
has been able to capture a significant share of the
shelf space in most of the developing countries.
Some of the key functional claims are cholesterol
reduction, high antioxidant levels and high
Omega-3, and vitamin/mineral-fortified products.
In the case of India, consumers are prone to
heart-related diseases because of their eating and
living habits. Due to this, products with functional
claims are gaining favour among consumers.
Going natural
With various concerns being raised regarding the
impact on health due to the consumption of genetically modified food, products with no genetic
modification claims are catching the attention of
the modern consumers. In China, products with
no genetic modification claims have increased by
over 50% in the last two years.
Recent food scandals, such as the high levels of
melamine found in dairy products in China has
resulted in consumers taking a closer look at the
products they consume. This has also resulted in
consumers demanding products that are natural.
This has caught the attention of the industry
players, and companies are launching new products with organic and natural claims. For instance,
in Japan, 10% of total product launches in 2010
claimed to be either organic or natural, while in
Australia the figure was slightly less than 10%.
However, the number of product launches in Asia
with the above claims have increased by almost
50% in 2010 when compared to similar claims in
2009 (see Figure 2, left).
In terms of future market prospects in Asian
markets, Datamonitor believes that health and
wellness will be the key driver for the growth of
the edible oil industry in Asia. While low cholesterol claims will be the most popular claim due to
growing health concerns, consumers will also
favour oils with functional benefits, and natural
and organic claims.