We had a thought-provoking discussion about functional foods and ways to influence consumers to make healthier food choices.
We had diverse contributions from our panellists: Anna Lim (The Soup Spoon Pte Ltd), Rupert Dyer (WhatIF Foods), and Dr. Dalal AlGhawas (SWAPAC).
Key takeaways:
– It’s not the consumer’s responsibility to understand labels. It is the food company’s responsibility to make health benefits clear and credible to consumers.
– Startups have to be nimble and prioritise their goals. When they’re seeking funding, they need to hit the market as soon as possible and strengthen their own position. That leaves little room for added certifications / functional food claims. Obtaining a functional food certification depends on a range of factors, including product positioning and target consumers.
– Regulations can be used as business drivers, rather than barriers. For example, the Korean Ministry of Food and Drug Safety has a rigorous testing process for functional food claims AND a quick turnaround time for certifications.
A big thank you to our panellists for their valuable insights, and to our attendees for joining the discussion.