“From this research we can see there is real concern about how regulations are affecting the growth of the global nutraceuticals industry and based on the current trajectory, there will only be more, tougher legislation in the future,” said Vitafoods portfolio director, Chris Lee.
Despite such prospects 40% of the respondents said Asia would become the biggest global nutraceuticals market within 10 years, while eastern Europe was positioned as the market with the most work to do to develop its functional foods and food supplement space.
Lee said the Vitafoods Europe expo and conference would address some of the issues around regulations and emerging markets in its education seminars between May 22 and 24.
“At Vitafoods Europe there are several conference sessions specifically dedicated to health claims and regulation, plus the Discussion Forum will focus on opportunities for innovation beyond claims to provide companies with new insights into current thinking on the key regulatory aspects that will impact on the sector’s innovative capacity within the next five years,” Lee said.
Listen to a podcast with Chris Lee about this year's Vitafoods event here.