Rebecca Wright09.01.11
As I sat down to write my editorial for this issue, a 5.9 magnitude earthquake hit the East Coast. Earthquakes are rare in this neck of the woods but they do happen. Anyway, it got me thinking about the nutraceuticals market and how it has experienced a shake-up of its own during the last several years.
To put it all into perspective, trends expert Dr. A. Elizabeth Sloan takes an in-depth look at the state of the nutraceuticals market by the numbers in this issue (page 38). She discusses a wide range of trends, from ingredients to products to health issues to demographics. Dr. Sloan contends that although consumers have been shaken by the economy and a healthcare crisis, they are incorporating dietary supplements and functional foods into the changes they’re making in their lives—changes that will likely remain permanent for years to come. She believes this resetting of market priorities and product criteria will create numerous opportunities for companies in this sector.
A shift in thinking has also occurred in supermarket aisles across the country, according to “Shopping for Health 2011,” an annual study released by the Food Marketing Institute (FMI) and Prevention magazine (page 18). While shoppers used to care most about undesirable characteristics their foods were devoid of—e.g., fat, sugar, salt, calories, etc.—they are increasingly more interested in fortification and the inclusion of key health ingredients, with fiber (44%) being the most sought-after component; whole grain (36%), protein (27%), omega 3s (23%) and antioxidants (16%) follow.
“While the main criteria for healthy foods was previously determined by ingredients it did not contain, today’s shoppers are now instead wondering what’s in their food, seeking to better understand the nutritional components of what they eat,” said Cary Silvers, director of consumer insights for Prevention.
To take advantage of this, industry companies must take the lead in educating consumers about these products and ingredients. Ignoring this responsibility could potentially add up to billions in lost sales.
Speaking of lost sales, FDA’s release of its New Dietary Ingredient (NDI) Guidance in July has some pundits claiming the industry will have to remove several of its products from the market if finalized in its current form. Several trade associations (e.g., AHPA, CRN, UNPA, NPA, etc.) are working tirelessly to make sense of it all. In the meantime, two stories in this issue (pages 14 and 28) will help to paint a picture of the current situation. To avoid the worst-case scenario, companies must remain tuned into this issue—the future depends on it.
To put it all into perspective, trends expert Dr. A. Elizabeth Sloan takes an in-depth look at the state of the nutraceuticals market by the numbers in this issue (page 38). She discusses a wide range of trends, from ingredients to products to health issues to demographics. Dr. Sloan contends that although consumers have been shaken by the economy and a healthcare crisis, they are incorporating dietary supplements and functional foods into the changes they’re making in their lives—changes that will likely remain permanent for years to come. She believes this resetting of market priorities and product criteria will create numerous opportunities for companies in this sector.
A shift in thinking has also occurred in supermarket aisles across the country, according to “Shopping for Health 2011,” an annual study released by the Food Marketing Institute (FMI) and Prevention magazine (page 18). While shoppers used to care most about undesirable characteristics their foods were devoid of—e.g., fat, sugar, salt, calories, etc.—they are increasingly more interested in fortification and the inclusion of key health ingredients, with fiber (44%) being the most sought-after component; whole grain (36%), protein (27%), omega 3s (23%) and antioxidants (16%) follow.
“While the main criteria for healthy foods was previously determined by ingredients it did not contain, today’s shoppers are now instead wondering what’s in their food, seeking to better understand the nutritional components of what they eat,” said Cary Silvers, director of consumer insights for Prevention.
To take advantage of this, industry companies must take the lead in educating consumers about these products and ingredients. Ignoring this responsibility could potentially add up to billions in lost sales.
Speaking of lost sales, FDA’s release of its New Dietary Ingredient (NDI) Guidance in July has some pundits claiming the industry will have to remove several of its products from the market if finalized in its current form. Several trade associations (e.g., AHPA, CRN, UNPA, NPA, etc.) are working tirelessly to make sense of it all. In the meantime, two stories in this issue (pages 14 and 28) will help to paint a picture of the current situation. To avoid the worst-case scenario, companies must remain tuned into this issue—the future depends on it.
