A clear majority of nutrition and nutraceutical companies are planning to launch new products this year, research has shown.
The organisers of Vitafoods Europe surveyed 192 of their exhibitors and visitors. More than nine in ten (95 per cent) said they would launch at least one new product over the next 12 months, an increase on last year’s figure of 92 per cent.
The figures paint a picture of innovation across the industry, with Vitafoods exhibitors and visitors alike planning new offerings. Almost half (46 per cent) said they would launch between one and four new products, with 25 per cent planning five to nine. An impressive 20 per cent said they would launch ten or more.
Year on year, businesses use Vitafoods Europe as a platform for launches, with hundreds of new ingredients being exhibited and demonstrated at this year’s event. In the New Products Zone, visitors will be able to see and experience 120 products launched over the past year, while the New Ingredients Zone will showcase 66 new ingredients.
Chris Lee, managing director, Global Health and Nutrition Network, Europe, Informa Exhibitions explains, ‘The global nutrition industry is looking particularly dynamic. The clear majority of companies planning new launches is testimony to their commitment to innovation. We’ve worked hard to ensure that Vitafoods Europe reflects that, and supports companies with new launches as much as possible.’
When asked which three health benefit areas were most important for their companies:
- One in three (33 per cent) respondents listed general health and well-being
- Three in ten (31 per cent) listed cardiovascular health and healthy ageing
- 29 per cent listed weight management and bone and joint health.