Algatechnologies notes that he market for ‘green’ dietary supplements is growing more than twice as quickly as that for sustainably produced food and drink, new figures from Mintel show.
The market for ‘green’ dietary supplements is growing more than twice as quickly as that for sustainably produced food and drink, new figures show.Data from Mintel’s Global New Product Database, which tracks the information used to market new products all over the world, shows that in 2015 there were 370 ‘environmentally friendly’ supplement products launched globally – up 37% on 2014. Correspondingly, there were 11,033 new food product launches using a sustainability platform in 2015 (+18%) and 3,177 new beverage launches (+7%).“Comparatively speaking, the number of new supplements launched in 2015 with a sustainability positioning remained small compared with the food and beverage categories,” said Efrat Kat, VP Marketing & Sales at sustainable astaxanthin supplier Algatechnologies. “However, in terms of growth, it’s clear that ‘green’ supplements are now outstripping food and beverage products. If this growth curve continues, it will surely be only a matter of time before the supplements market catches up.” “For dietary supplements companies, this means there is a significant opportunity to show their commitment to sustainability by sourcing ethical ingredients. Brands that recognise the importance of launching eco-friendly products can also gain a first-mover advantage over their competitors.”“Dietary supplements brands that are keen to optimise the sustainability of their products should ask their ingredients suppliers tough questions about their supply chain transparency, how they assess their suppliers, third-party validation, and the criteria they set for sustainable sourcing in terms of both environmental and social aspects,” said Ronnie Meninger, CEO of Algatechnologies. “Such factors are at the cornerstone of Algatechnologies’ approach, and in the speciality ingredients category astaxanthin is a unique product. Algatechnologies’ proprietary production process protects the planet’s natural resources. By using AstaPure, health and wellness brands can create the perfect platform for capitalising on the growing trend for consumers to demand products that are safe, effective and produced in a way that is environmentally responsible.”