The Impact of ICT on Nutraceutical Industry

The definition of nutraceutical in the latest edition of the Merriam-Webster Dictionary is: nutritive + pharmaceutical: a foodstuff (as a fortified food or dietary supplement) that provides health benefits.

Nutraceuticals is one of the shining parts in global market during the economic crisis. Part of the reason is that consumers tend to adopt healthy food and supplements to prevent health issues and reduce their medical costs.


According to Global Industry Analysts, Inc., the global nutraceuticals market is projected to exceed US$243 billion by 2015. This number is driven by consumer desire for a healthy life, as well as by the rising healthcare costs; aging population and growing beauty industry. In the long term, the nutraceutical market is expected to continue its growth at high growth rate.


In the following weeks, the topic of this blog will focus on “the impact of ICT on nutraceutical industry”.


As the wide use of internet, computer-based information and communications technology (ICT) has being affecting the entire nutraceutical industry and it will continue to contribute to the further development of this industry. For example, the emerging personalized nutrition communication through the internet influences customers’ consuming behaviors; the prevalence of social media is changing the way nutraceutical companies market their products and services.

Resources:

http://www.prweb.com/releases/nutraceuticals/dietary_supplements/prweb4563164.htm Global Nutraceuticals Market to Cross US$243 Billion By 2015, According to a New Report by Global Industry Analysts, Inc.
http://www.ana-jana.org/nut_info_details.cfm?NutInfoID=4