M&A: One-stop shops and personalised nutrition
February began with a bang in the form of the $40.7 billion mega-merge of International Flavors & Fragrances Inc (IFF) and DuPont’s Nutrition & Biosciences business. The deal, first announced in December 2020 and completed in early February 2021, is accompanied by a rebrand for the ingredient giant and a new tagline: ‘where science and creativity meet’. This synergy of formulator and ingredient manufacturer signals a growing trend to skip a supply-chain step and provide a centralised one-stop shop to customers.
Elsewhere, U.S. supplement manufacturer Nature’s Way acquired Baze, a young personalised nutrition company that offers personalised dietary advice and supplement subscription based on blood-based home testing kit results. Nature’s Way had previously invested US$6 million into Baze but now takes full ownership of its assets; accelerated by the pandemic, investment into the personalised nutrition space is evidently increasingly popular, as covered in our personalised nutrition report earlier this month.
Vitafoods Asia Digital Week: China spotlight
The nutraceutical community came together virtually at the first-ever Vitafoods Asia Digital Week, 2-4 February. The COVID-19 pandemic informed a great deal of discussion, particularly the way in which it has led to a growing proactivity amongst consumers to understand how their current lifestyle relates to their susceptibility to illness, leading to a shift in emphasis from cure to prevention. The best attended session covered the harmonisation of ASEAN supplements, exemplifying growing attention to a more unified approach of regulatory and health care bodies and a sense of the importance of all parties working together to give better healthcare solutions. Finally, the webinar on China market entry was well attended, demonstrating continuing awareness of China’s key role in the global supplement market. This comes at an interesting time as China lowers import tariffs, making foreign investment into the country increasingly attractive.
You can access on-demand material from Vitafoods Asia Digital Week at X [not sure when comes onto the website from the platform?] What’s more, Vitafoods Insights Virtual Expo will be running 10-13 May; be sure to register your interest if you want to be the first to know when registration opens.
February saw multiple developments in the sustainable packaging space. Mondi launched a new range of recyclable barrier papers, fulfilling a demand for sustainable packaging alternatives for nutraceutical applications. Ahead of the ban of disposable plastic cutlery in the EU from mid-2021, Greiner Packaging and Cardbox Packaging developed a new fold-out cardboard spoon to accompany snack products. Moreover, the UK Research & Innovation (UKIR) launched its Smart Sustainable Plastic Packaging (SSPP) Challenge programme, investing £60 million in cleaner supply chain growth until 2025. Clearly, not only is there greater demand for, but also greater opportunity in, sustainable packaging than ever.