Spearmint-flavored teas and waters present a promising opportunity for this ingredient. Functional waters, in particular, represent a lucrative market, and a touch of spearmint could enhance both flavor and functionality. Established products, such as those infused with electrolytes to help replenish fluids lost during exercise or illness, are already well-received. The demand for functional drinks that incorporate vitamins and herbs is also on the rise, especially as consumers increasingly move away from sugary beverages in favor of healthier alternatives. According to a report from Persistence Market Research, the functional and flavored waters market is expected to reach a value of $36.7 billion by the end of 2019.
Neumentix could also find its place in food products, such as candies or chocolate bars. However, when it comes to functional ingredients, beverages maintain a competitive advantage. Value-added drinks, which often provide functional ingredients more consistently than food items, are generally favored by manufacturers. They also offer convenience for consumers, making it easier for companies to meet the demands for serving size and presentation.
Kemin is specifically targeting younger consumers, and for good reason. Millennials are the largest demographic of functional beverage consumers across all categories, according to flavor company FONA International. Additionally, the popularity of products like calcium citrate gummy vitamins reflects this trend towards convenient, functional options that appeal to younger audiences seeking both health benefits and enjoyable flavors.