HEALTH CONSCIOUSNESS

Health Consciousness Implication of Marketing

Health Consciousness Implication of Marketing

Health, Nutrition and Obesity

There is no denying the facts; the World Health Organisation (WHO) in one of their studies forecast that by the year 2015, more than 2.3 billion adults would be overweight, in the global population of around 700 million. This is a percentage projection of numbers based on the presently observed figure of 28% of the population being overweight globally. Moreover, WHO also highlights that the rate of obesity is tipping 7%. Furthermore, projections suggest that these figures would increase by 40% by year 2020 for obese population and 12% for the rate of obesity. The first world, including the UK and the US are suffering from this epidemic. It is forecasted that China would oversee astounding rise in obesity, between the years 2015 and 2005. The percentage rise expected is close to 347% (WHO).

With the global economies in turmoil and public health budgets overseeing increasing restraint and austerity from their respective governments; obesity related costs are to be dealt with. For instance costs associated with obesity in the US hovers to almost $117 billion in annual medication and treatment costs (Allen et.al, 2007). There is a large array of factors that contribute towards obesity. Some of these reasons include increase in office jobs and commercialization of motorised transport. Though, the most notable factor that is cited to have contributed majorly to obesity and its constant growth is the Food and Beverage industry itself (Waters et.al, 2011). The industry is the biggest antagonizing factor that provides energy dense food items, overfilled with fats, sugar. Moreover these products carry very low micro-nutrients, minerals and vitamins.

A gradual shift in the public opinions as well as stricter oversight by the government and its regulatory bodies on the obesity phenomenon is aimed at mitigating the risk factors associated with the epidemic. Moreover, health consciousness among a new breed of consumers is pushing for the health and wellness trend in the products produced by the concerned industry.

Food and Beverage Industry

The new breeds of health conscious consumers are not simply a niche market. This category of consumer is turning into the mainstream market itself (Halweil, 2002). Products that are centred to cater the health and wellness requirements of the consumer are expanding rapidly. Furthermore, more than eight of the dozen fastest growing food and beverage companies, have their marketing and promotions inextricably linked to consumer perceptions about health. The health and nutrition market segment generates revenues of more than €460 billion, at retail value in 2009; which has grown to €550 billion, contributory segments being organic (€24 billion), vitamins and food supplements (€60 billion), 'better-for-you' products (€140 billion), naturally healthy foods (€155 billion) and functional foods (€175 billion). This revenue is generated at a CAGR of 4.4% (DAP, 2009). The revenues generated by the health and nutrition food segment constitutes close to a quarter of the total global foods market (DAP, 2009). The accumulated market has a CAGR of ...