US and EU Consumer and Regulatory Acceptance of Functional foods: Implications for Innovation
Friday, 12th March, 2010 | Cork
Welcome to the US/EU Conference entitled "Consumer and Regulatory Acceptance of Functional Foods: Implications for Innovation" taking place at the Teagasc Moorepark Conference Centre, Fermoy Co. Cork, Ireland on March 12th 2010.
Though separate, this Enterprise Ireland sponsored event directly follows, and builds on the US/Ireland Functional Food Conference 2010 being organized by Teagasc, the USDA and University College Cork and is predominantly aimed at US and European food & beverage companies, researchers and regulators involved (or considering being involved) in bringing so-called 'functional foods' to market. Please note that separate registration is required for both events.
What are Functional foods?
Though lacking a universally accepted definition, so-called 'Functional Foods' are increasingly commanding the attention of the food industry, consumers and regulators across the globe.
Generally speaking, the term 'Functional Foods' is a term applied to healthy foods and that, while similar in appearance and means of utilization to conventional foods and beverages, confer certain physiological health benefits beyond those of basic nutrition.
Such benefits may include health promotion or reduced risk of chronic disease and are often attributable to the presence in the food of specific bioactive compounds, vitamins, peptides, sugars, or microbial cultures.
The functional foods industry ranges across the food, beverage and supplements sectors and is an area of the food industry that has experienced significant consistent growth over the last decade.
Much of this growth has been fuelled by growing consumer interest in the potential health benefits of such foods stimulated by industry advertising, media coverage and government health-awareness campaigns. Supporting this has been significant industry and public sector investment in research and development which has driven innovation and new product development in the area.
Key to realizing the health and commercial potential of functional foods is the substantiation of health claims within different and ever-evolving international regulatory frameworks. This has proven to be a complex and often contentious issue, with much uncertainty prevailing as to the scope, scale and standard of scientific substantiation required to demonstrate efficacy to a degree acceptable to the relevant regulatory authorities.
Industry uncertainty about the type and quality of scientific evidence required to substantiate health-claims for regulatory approval and how they can be conveyed to the consumer has led to concern that innovation involving functional foods may be at a cost and/or risk greater than many companies can afford. However, there are cases which have shown that it is possible for even small companies to successfully achieve regulatory approval. This said, regulatory and consumer acceptance of functional food products are only first steps toward achieving commercial success of these products in a market driven by other, equally compelling, value drivers.
For many companies, achieving regulatory and consumer acceptance of a functional food product may require tapping or embedding external sources of enabling or complementary scientific, IP, marketing and regulatory expertise. This can be challenging in terms of cost, but also in terms of skills and culture change required to integrate them. Such relationships can also be transformational and can result in unique industry and academic partnering arrangements and supply agreements often underpinned by innovative value/risk-sharing and business models.
It is hoped by many in the industry that as long as consumer confidence in the safety, healthfulness and value of such products can be maintained and developed, greater clarity about the standards and processes applied to functional food regulation can continue to provide food, beverage and ingredient companies with opportunities to effectively innovate in a focused way and to successfully compete in the increasingly competitive and complex international food market.
About the Event
Drawing on the experience and expert perspectives of professionals active in the area of regulatory and consumer affairs, food research and product development, this meeting will explore some of the key issues determining acceptance of functional foods in the US and EU markets particularly.
Each speaker will give a 15 minute presentation and will participate in structured panel discussions moderated by Prof. Patrick Wall, Associate Professor of Public Health in University College Dublin and former Chairperson of the European Food Safety Authority and CEO of the Food Safety Authority of Ireland.
Delegates will have an opportunity to ask questions openly from the floor or confidentially via the conference organizers.
We would encourage intending delegates to consider registering also for the preceding USA/Ireland Functional Food Conference 2010 taking place in Cork City from Tuesday March 9th to Thursday March 11th.
Further details and registration forms for this event are available at www.corkff2010.com
Finally, the conference organizers are very happy to assist delegates in arranging business meetings at or around the event. If you have queries or requests in this regard please do not hesitate to contact Dr. Tim Roche at tim.roche@enterprise-ireland.com; Tel:+1-212-546-0463
Venue
The meeting will take place at the Teagasc Conference Centre at Moorepark, Fermoy Co. Cork, located approximately 25 Miles (40Km) North of Cork city in the south of Ireland.
To facilitate delegate's onward travel arrangements for the weekend, the schedule will run from 7:45am to 2.30pm. Coffee and a hot buffet-style lunch will be provided with a view to facilitating networking with delegates and speakers.