Natural and Local, sweet.
Have you noticed in the UK press, sugar is getting a bad rap? As we mentioned in a previous blog the connection between sugar, weight and diabetes has been made. We expect to see ‘Sugar Free’ claims added to traditional ‘Fat free’ products in 2014. Artificial sweeteners such as aspartame and acesulfame-K will continue to be used, however these two do crop up in regulatory safety reviews. Innovative natural sugar alternatives such as; Stevia, Honey, acacia and fruit sugars should have a good year. We also expect to see a rise in very locally sourced foods and ingredients, as the economic and consumer trend for local produce continues along with a slow awareness of the need for sustainably sourced plants, we may well see ‘sustainably sourced’ claims on cosmetics and food supplements in the future.
The term ‘Self Care Products’ will be used
The ever predicable demographic of an ageing population persists worldwide, not just in the West, the UN states there will be 2 billion over 60s by 2050, an unprecedented demographic. The over 60s will need to manage the effects of ageing on health and so will governments. The NHS UK is promoting the idea of ‘self care’. We predict ‘Manage and maintain’ is the message older consumers will be looking for in their food, food supplements and OTC medicines. Products for minor conditions or to help maintain a healthy hearts, eyes, memory, vitality, energy, good digestion and ease of movement plus anti-ageing and weight loss products, all have a good future. These feel good products are also popular with people in their 20s and 30s.
Does one of your bathroom products have Argon Oil in it?
The trend for innovative ingredients will continue, nobody had really heard of Argon oil 2 years ago, now we are being encouraged to wash, bath and moisturise with products that contain ‘ ARGON OIL’. Consumers are driven by a buzz around ingredients and so to be distributors and producers. Innovation is not brand, but ingredient led. Creating a buzz around a raw material can be very lucrative. Everyone likes to discover something new that works, although the majority of these ‘innovative’ ingredients are plants that have been used for centuries in some part of the world, Avena expects the trend for rediscovering ingredients will continue.
Financial promise but tighter Regulations.
Overall world revenue for functional foods and nutraceuticals continues to grow and will reach $221.58bn in 2014 (www.visiongain.com). Changes in consumer awareness together with an expanding body of scientific research validating the effectiveness and safety of these products will stimulate investment. Regulators worldwide are defining in law what is considered a medicine or a health food. Supplements are prefixed with terms like; dietary/food/biologically active/ complimentary or natural depending on the region in question. There is also scrutiny on what product claims can be made. This not new to the EU and the Russians introduced regulations on biologically active supplements. China’s food and drug Administration (CFDA) is drafting health food regulations. At present both Russia and China can be challenging markets to enter without a local stake, but companies like Amway and Herbalife have put the work in and are now seeing substantial profits in China. Herbalife’s net sales in China rose USD $59.3 million over the prior year to $136.7 million (www.naturalproductsinsider.com) . Avena Consultants help with compliance for any market.