By Sean Moloughney, Editor11.09.20
When I attended industry trade shows, back when we could gather at those in person, people would often ask me about the “latest and greatest” trends I’m seeing in a certain segment of the nutraceuticals industry. “What are you seeing out there? What’s hot? What’s new?” The questions were often framed in such broad terms that I would ask for more context to narrow it down and steer the conversation into something more thought-provoking.
Let’s face it, as this industry knows, trends can spark and fade in a flash. It can be insightful to track consumer trends as they come and go, but ultimately if they won’t help sustain your business, they aren’t worth your time. And if you’re in the business of chasing trends, you’re probably behind the curve.
Julian Mellentin, founder of the consultancy New Nutrition Business, has authored our annual functional food and beverage trend update for many years. It’s consistently one of our most-read articles for the year. In his analysis, he begins by writing that in order to capitalize on trends to carry your business over the long-term, “you must look at every point of the compass—not just consumer research, but also emerging technologies, competitive strategies, and established consumer needs that keep re-asserting themselves, sometimes in unexpected ways.”
The successful reinvention of traditional foods into new forms—like almonds into milk, cauliflower into pizza crust, chickpeas into pasta—reflects adaptation and innovation that many would never have imagined a decade ago.
Form also matters for dietary supplements. The number of diverse product formats, and variations of ingredients tailored for specific applications, I believe, reflects healthy innovation. There’s more to product development than just discovering novel compounds. If you can make a product more potent or more convenient for consumers, that’s meaningful—even essential. One size or one SKU doesn’t fit everyone in today’s market where personalized nutrition continues to emerge in tangible ways.
Trends are important to track. As the world changes and consumer preferences and needs evolve, companies must anticipate market shifts and adjust course. So, what are the “latest and greatest” trends out there? Well, let’s put it this way: if you don’t have thoughtful business strategies for transparency, sustainability, diversity and inclusion, then the trends you’re chasing may not matter a whole lot.
Let’s face it, as this industry knows, trends can spark and fade in a flash. It can be insightful to track consumer trends as they come and go, but ultimately if they won’t help sustain your business, they aren’t worth your time. And if you’re in the business of chasing trends, you’re probably behind the curve.
Julian Mellentin, founder of the consultancy New Nutrition Business, has authored our annual functional food and beverage trend update for many years. It’s consistently one of our most-read articles for the year. In his analysis, he begins by writing that in order to capitalize on trends to carry your business over the long-term, “you must look at every point of the compass—not just consumer research, but also emerging technologies, competitive strategies, and established consumer needs that keep re-asserting themselves, sometimes in unexpected ways.”
The successful reinvention of traditional foods into new forms—like almonds into milk, cauliflower into pizza crust, chickpeas into pasta—reflects adaptation and innovation that many would never have imagined a decade ago.
Form also matters for dietary supplements. The number of diverse product formats, and variations of ingredients tailored for specific applications, I believe, reflects healthy innovation. There’s more to product development than just discovering novel compounds. If you can make a product more potent or more convenient for consumers, that’s meaningful—even essential. One size or one SKU doesn’t fit everyone in today’s market where personalized nutrition continues to emerge in tangible ways.
Trends are important to track. As the world changes and consumer preferences and needs evolve, companies must anticipate market shifts and adjust course. So, what are the “latest and greatest” trends out there? Well, let’s put it this way: if you don’t have thoughtful business strategies for transparency, sustainability, diversity and inclusion, then the trends you’re chasing may not matter a whole lot.
