As the global pandemic continues to impact business around the globe, understanding the opportunities it opens up and the challenges it poses to your business is critical. In July, Vitafoods Insights explored these issues in a variety of ways. Take a few minutes to catch up on the insights you may have missed that could trigger new thinking in your product ideation and go to market strategy.
Tune in to hear more about:
- The continued impact of shipping delays on the nutraceutical supply chain
- Research suggesting even Olympians aren’t meeting their macronutrient needs
- How functional chocolate may serve as a unique delivery format
- Market whitespace to explore related to healthy ageing
- Mental wellbeing and the opportunity it poses for product development
If you do like the show, make sure to subscribe and follow the Vitafoods Insights podcast. Feel free also to recommend the show to a friend that you think would enjoy it.
Welcome to the Vitafoods Insights July Industry Highlights podcast. I’m Heather Granato, thanks for joining me. We’re showcasing some of the best bits and bobs across Vitafoods Insights, and offering a little context on how it might accelerate your own product ideation and go to market strategy. Let’s start where everything seems to start these days: the global pandemic. From the start of last year, we saw the impact of COVID-19 outbreaks on the ingredients supply chain—congestion at the ports with operations severely restricted. While it has eased slightly, last month’s outbreak in Guangdong province turned the pressure up again. Wilson Lau of Nuherbs observed in a piece for Vitafoods Insights that it’s not just the snowball effect of ships jammed at ports. It’s a shortage of wood pallets, and containers, and much more. What does this mean to the nutraceutical industry? Wilson advises that you buy now what you need for the rest of 2021—transit times for ingredients are double or up to triple the time, and it may well be 2023 before there’s a return to ‘just in time’ ordering in this and many other industries. Next, the Tokyo Olympics are underway, sans fans in the stands but finally allowing these top performers the opportunity to compete on a global stage. They’ve been honing their skills to reach this pinnacle. But do they really have the nutrition and information they need? In a recent podcast interview, Timmo Spring of Prevess revealed studies he’s done with the German Olympic Association found nearly 60 percent of athletes are not achieving their macronutrient goals, which could mean a 10 to 12 percent loss in performance.
We see that more reasonable to really educate from the very beginning and add where it has to be or needs an adding, it needs a supplement. But this is you know, the calling, or the name of a supplement itself. For my side is a definition of additional food. It's not, it should be not your main food or your resource.
The time is certainly now educate target consumers about the best use of your unique products. Finally, let’s talk a bit about unique product formulations. Early July saw World Chocolate Day, which we celebrated with a look at using chocolate as a great candidate to deliver bioactive ingredients in a more indulgent format. Consider the results of a study conducted in Mexico that explored using milk chocolate as a vessel to deliver long-chain omega-3s and probiotics to support children’s cognitive development. Adding microencapsulated probiotics and fish oil during the tempering process, the researchers were able to include enough of the actives to meet daily recommendations of both ingredients. No word from the researchers on the final flavor—another area for exploration and collaboration during your own product development efforts. Now we turn from the news to exploring a resonant industry theme; this month, it’s healthy ageing. As the pandemic continues to challenge global norms, travel, and much more, it has also driven fundamental change in consumer understanding of the power of nutrition. The choices consumers make today dramatically impact the health of their ‘tomorrow’. A new report focused on Healthy Ageing was just published at Vitafoods Insights. In it, Natalia Franca Rocha explores market whitespace, critical nutrients, marketing opportunities, and even sustainability considerations. What’s important to note from the start is that ‘Healthy ageing’ is no longer the dominion of the over 50s. Maggie McNamara, marketing director at Gencor, observed:
The notion of holistic health is rising across generations, and while Millennials may focus on other health concerns than Gen Z, Gen X or Baby Boomers, they all seem to share a growing awareness of the benefits of balanced, holistic wellbeing. Seniors and younger adults are focused on preventative care, including supplementation before conditions become chronic or irreversible.
What are some of the areas of opportunity? When it comes to product formats, convenient on the go options such as shots and gummies are of great interest, but can have challenges with delivering efficacious dosages. And from a marketing perspective, consider the focus on benefits, not just the ingredients—but be sure you’ve got the science to back up those claims. As Mike Hughes of FMCG Gurus told Natalia:
Consumers can be sceptical of claims made by health and wellness brands, often believing that these brands can make misleading claims to capitalise on desperation for instant health solutions. Consumers are demanding branded ingredients and scientific evidence to validate claims.
Get the full insights by downloading the report at https://www.vitafoodsinsights.com/reports/healthy-ageing-era-preventive-care-report. So let’s move from healthy ageing to another issue that’s on everyone’s minds: mental well-being. Through the pandemic we’ve seen consumers seeking ways to boost their mood and de-stress, and functional ingredients that help consumers focus and concentrate are on the rise. During the Vitafoods Insights Virtual Expo, Emma Schofield, global food science analyst at Mintel, offered a look at the need for ingredients to enhance sleep, address stress and promote healthy energy levels, all delivered in friendly formats.
Consumers continue to feel physically and mentally exhausted by the pandemic, which may open opportunities for energy drinks, or energy solutions, and particularly those that deliver a softer image that consumers feel are healthier and more natural than the conventional caffeinated energy drinks.
If you’re seeking inspiration in the category, catch Emma’s presentation in an on-demand video at Vitafoods Insights. I’m also delighted that Emma will be presenting as part of Vitafoods Europe in October. New insights around three of Mintel’s Global Food & Drink Trends--Feed the Mind, Quality Redefined, and United by Food—provide guidance and inspiration for formulators and marketers. Vitafoods Europe attendees will hear about the five functional health ingredients that should appeal to consumers into 2022 and why. Head over to www.vitafoods.eu.com to learn more about this year’s hybrid event, set for 4 to 8 October in Geneva Switzerland. Thanks again for joining me, and don’t forget to check the show notes that will allow you to link to the information discussed in today’s podcast. The Vitafoods Insights Industry Highlights podcast happens monthly, so be sure to stay tuned, subscribe and even suggest to a friend. And if you’ve got news to share, hit me up at [email protected].