Takeaways: Power for powder innovation

Takeaways Power for powder innovation

Powdered supplements are projected to experience a 10.8 percent compound annual growth rate (CAGR) from 2016 to 2024, according to a 2018 report from Grand View Research. Succeeding in a thriving market with anticipated double-digit growth requires fine-tuned product development and formulation to ensure powdered supplements not only meet consumer expectations for quality, but also stand out on the shelf (or on a web page).

To achieve success in the powdered supplements category, consider these market dynamics:

Telling trends: As the category for powders grows, innovative products will steal the sought-after spotlight. Understanding consumer and category trends is critical to creating products that meet the needs of the market. Some trends impacting the powder category include clean labels, flavor innovation and packaging. Contract manufacturers with global presence can help to identify global and ingredient trends.

Quality considerations: Quality is essential in every category of dietary supplements. But powdered supplements have unique considerations such as taste, texture and solubility. If consumer expectations around quality aren’t met, consumers won’t repurchase the product, regardless how innovative the product is.

Partnership power: Whether a brand wants to test the waters of a trending market with a seasonal flavor or to see what a concept product may look, feel or taste like, a contract manufacturer may be the best resource. This is especially true when a brand is in a growing category like powders. Contract manufacturers can help brand owners to identify market trends, navigate quality considerations and improve time to market, among other benefits.

In the coming year, innovation will drive interest in the powders category. Longtime staples such as collagen and protein powders will remain strong players. Within these key product segments, innovation will take place in the form of packaging, flavor concepts and improved quality in areas such as taste. For example, sports nutrition brand BSN launched in March, in collaboration with Cold Stone Creamery, three new flavors—birthday cake remix, germanchokolatekake and mint mint chocolate chocolate chip—while Sparta Nutrition announced in January the launch of five new protein flavors, including loopy fruits (a take on Kellogg’s Froot Loops cereal) and blueberry muffin. Newcomers to the category will offer trending ingredients as a way to approach innovation. One example is the growth and interest in medium-chain triglyceride (MCT) oil powders to support ketogenic diet trends.

Read The Full Article HERE