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Posts Tagged ‘Nutraceutical Industry’

The role of food in total health care is something we should realize. More than 2,000 years ago, Hippocrates, considered as the father of medicine, said, “Let food be your medicine and medicine be your food.” It is this principle that eventually led to the explosion of the nutraceutical industry.

The nutraceutical is, “ food or part of a food that offers medical and/or health benefits including prevention or treatment of disease.”

The benefits area  such as anti arthritic , pain killers , cold and cough, digestion, sleeping disorders, blood pressure, cholesterol, prevention of certain cancers, osteoporosis, depression and diabetes are covered by nutraceuticals.

Products range from herbal dietary supplements, actual food components in dosage form such as capsules or tablets to beverages fortified with vitamins and genetically engineered designer foods, functional foods, processed foods such as cereal, soup and beverages.

Nutraceuticals is widely popular in the US, Canada, Japan, and Europe and has garnered $80 billion dollars in revenues. The demand for nutraceuticals has been growing worldwide due to consumer awareness of the links of diet and disease, aging population, rising health care cost and innovations in food technology and nutrition.

Sports and Food

In the last decade, sports and fitness nutrition has emerged as one large distinct category in the nutraceutical industry. Three main products contributed to the market’s growth in year 2004:

•             low carbohydrate products – which grew by as much as 154%

•             sports energy beverages – which grew by 18%;

•             sports supplements – which grew by 6%.

Now, billions dollar-worth sports nutrition industry has shifted from the plain-tasting protein powders into a bigger pool of choices for customers. Available in almost any drug stores or supermarkets are energy bars, meal replacement products, protein powders, individual items (e.g., creatine, L-carnitine), amino acids, herbs, prohormones (hormone precursors); vitamins; minerals; and combination products. Because of this the sports nutrition nutraceutical industry is considered a ‘niche’ market and an offshoot of the mainstream food industry.

Competition factors for the Sports Nutrition Market

1. Product/brand differentiation

Because of greater saturation and competition in the marketplace sports nutrition products look alike and sound the same. Building a brand images that stands apart from the other  is difficult but a thing to strive for.

2. Core products and strategies

A good strategy now is to focus development of core products or integrating with large food and pharmaceutical concerns (e.g., Powerbar, BalanceBar).

3. Research-substantiated claims.

Consumers’ ability to make intelligent choices should never be underestimated. People place more faith endorsements by university professors and doctors and claims backed by independent research than by endorsements by celebrities.

4. E-commerce

e-commerce is an increasingly attractive option For companies will not rely on strong distribution relationships.

5. Something New

Retailers and consumers clamor for “new,” whether it means new forms of delivery (gels, effervescent tablets, functional beverages), new applications of or combinations with existing products, or all-natural sports nutrition products that are free of artificial ingredients and solvents.

6. Great taste

Taste is a major feature that can either make or break a product. The hunt is on for manufacturers to come up with better and new flavors.

7. High quality and safe products

The responsibility of product manufacturers to undertake sound research and prove the efficacy and safety of their nutraceutical products. Products that are based on false or misleading marketing should be and are banned and condemned.

Through product sales and advances in research and development, the Sports Nutrition Nutraceutical Industry is now validating what was proven, early on, by the fitness and nutrition pioneers . sports nutrition products provide easier access to a healthier way of performing and living.