Survey Finds Nutrition Industry Optimistic Despite Political Uncertainty
08 Mar 2017 --- Research carried out on behalf of Vitafoods Europe 2017 has shown that optimism levels within the nutrition industry are flying high, despite political and economic uncertainties.
Speculation about the impact of political shocks such as Brexit on the nutrition industry has been plentiful, however research by the organizers of Vitafoods Europe paints a far more positive picture, and highlights that excitement about consumer awareness and developing markets is on the rise.
Event visitors were asked how they felt about the future of their businesses in terms of sales performance and profitability. Nearly nine in ten (88%) said they felt either very positive or quite positive.
When the same question was asked last year, 87% said they were either very or quite positive, suggesting that industry optimism has not diminished over the past twelve months.
Chris Lee, Managing Director, Global Health and Nutrition Network, Europe, Informa Exhibitions said: “It’s a sign of the resilience and resourcefulness of our industry that even in a period of political uncertainty, companies are focusing on opportunities rather than problems.”
“With consumers increasingly interested in nutrition, markets opening up across the world, and innovative new ingredients emerging, there’s a lot to be excited about.”
“Vitafoods Europe helps visitors understand those opportunities and make the most of them. But there will always be challenges too, and part of our role is to support the industry in meeting them.”
When asked to name the three biggest opportunities for their companies, over half the survey respondents (53%) identified increased consumer awareness of nutrition, up from 50% last year, and a third (33%) chose growth in developing markets – up from 24%. Four in ten (41%) cited innovation through new ingredients.
Visitors were also asked what they saw as the three most important trends for the industry.
For the short term (over the next 12 months) personalized nutrition was picked by one in five respondents, (19%), however, when they were asked to think about the long term (the next three years) over a third (35%) identified it as an important trend.
The figures reflect the emergence of new possibilities such as individualized dietary guidelines, wearable technology, and personalized nutrition based on genetic testing.
Speaking previously with NutritionInsight, Alfredo Martínez, MD, PhD, President of the International Society of Nutrigenetics / Nutrigenomics (ISNN) agreed that personalized, or precision nutrition is the future of nutrition.
“Precision nutrition is the stronger global trend nowadays.” He said.
“This new concept of nutrition considers not only the personal inheritance, but also the cultural and family aspects, their lifestyle, the previous clinical history as well as likes and dislikes, hypersensitivity or intolerance to certain foods, regular physical activity, the perinatal nutrition and epigenetics, when designing dietary advice and matching the nutritional needs of each person.”
