One of the common complaints about industry insiders when they walk the floors of trade shows is that there isn’t much new to hold their attention. Is this true? Has innovation waned in recent years?
Like many questions, the answer depends on whom you ask. Big market makers in ingredients do tend to settle on best sellers, and engage in innovation only so far as it protects their market share and margins. But dig deeper, and experts that have spoken with NutraIngredients-USA say that there are innovative ingredients and approaches out there if you know where to look. Often these companies aren’t at the trade shows, because they are too early stage to afford the investment. So perhaps a bit of laziness and complacency creeps in when people seeking innovative new ingredients or technologies wait until these arrive all wrapped in a bow via a trade show booth.
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Join our conversation about innovation in the dietary supplement with an expert panel of industry innovators TOMMOROW Tuesday, January 30 at 11:30 AM Eastern. Click HERE to register.
Also, innovation comes in many forms, so it depends on how one views the term. Among the biggest tides of innovation within the supplement business has less to do with the products themselves and has more to do with how to interact with consumers to help them decide what to buy. A number of companies have sprung up that offer various ways to collect information from consumers—from simple questionnaires to testing kits, activity monitors and so forth—to do just that.
Expert panel
Our expert panel will delve into these and other questions surrounding innovation including new ingredients, new marketing approaches, and new delivery forms. The speakers are:
Tim Avila, principal of the consulting firm Systems Bioscience. Tim has a long history in the industry sourcing innovative ingredients and helping to develop them. Tim has demonstrated a knack for knowing what new ingredients or approaches will become hot before their temperature starts to rise. He has a keen eye for things that are new that might really have legs and make a difference in the industry.
Paul Jarrett, CEO and cofounder of BuluBox. BuluBox is a company that offers a better way for dietary supplement, personal care and functional foods companies to sample their products with a receptive audience. The company offers monthly subscription boxes for consumers so that they can get a test drive of products before they commit to buying a monthly supply or more. In the six years or more that Jarrett and his wife co-founder Stephanie Jarrett have supplied this service, they have collected a wealth of data about what new products trend well with consumers.
Sergio Radovcic, founder and CEO of Styr Labs. Radovcic, who has a background as an accomplished extreme endurance athlete, founded a company that uses a data-gather platform that includes wearable devices whose results are cross referenced with clinical studies to recommend a suite of personalized supplements and functional foods.
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From 3D printing to customization, personalization, novel delivery techniques, and new ingredients with compelling science, there is far more going on in the dietary supplements space than many people appreciate.
NutraIngredients-USA brings together leaders from the bleeding edge of innovation in dietary supplements to share their insights on how advances in all of these areas are driving the next generation of dietary supplement products. Join us on January 30 at 11:30 AM Eastern. Click HERE to register.
