Inform – Industry News
Personalized Nutrition Shift to E-Commerce
Although the field of personalized nutrition has been around for some time, it’s still considered to be in its inception – with nothing but growth potential. According to the Nutrition Business Journal Personalized Nutrition Special Report, in 2020 personalized nutrition dietary supplement sales increased 35% to $375 Million. NBJ predicts the market will grow to $1.8 Billion by 2024. Also noted by NBJ, the large growth rate is “attributable to the relatively small size of the personalized market.”*
A recent analyst report estimated [the Personalized Nutrition Market] could be worth as much as $64 billion Globally by 2040.*
Consumers are moving beyond the “one-size-fits-most” vitamins and supplements to made-for-me, my unique body, and health personalized nutrition offerings. And data shows consumers are willing to provide their individual data for this trade-off, assuming the brand they choose is careful with this sacred information. In addition, consumers appear more willing than ever to invest more money in personalized vitamins and supplements delivered directly to them with the change in purchasing patterns as a result of the pandemic.
In terms of which e-commerce merchants saw the greatest traction in online OTC in 2020, Amazon’s Subscribe and Save program held the biggest market share last year, while Amazon third-party vendor sales saw declines. Other growing OTC e-commerce market shares were Costco, Target, Walmart, and Instacart. Instacart’s OTC sales grew impressively in 2020, at 395%, “the highest of any merchant we track,” 1010data wrote, with consumers “including OTC purchases alongside their grocery orders. This according to a June 2021 Nutritional Outlook**
COVID changed the landscape of how consumers purchase their vitamins and supplements, not only that consumers want these items tailored to their individual needs. It’s likely these shifts are not a temporary reaction to the pandemic. Dietary supplements are already a good match for subscription plans, and multivitamins are an even more ideal fit. As with anything only time will tell, all our eyes are watching.
Sources:
*Nutritional Business Journal’s The Power of Personalized Nutrition June 2021.
** Nutritional Outlook article June 21, 2021
To take your market concept to the next level, connect with us at elitesales@eliteonesource.com
Connect – Partner Highlight
Celebrating 30 years in business, Barrington Nutritionals has made it their mission to provide the nutraceutical, pharmaceutical, and functional food industries with the highest quality ingredients, backed by science. With a diverse portfolio of over 650 core products, Barrington continues to build relationships with the finest ingredient producers and leaders in health and wellness. These relationships create opportunities for new innovations and exceptional problem-solving capabilities to meet customers’ needs.
Highlighted below are just three innovative ingredients that Barrington Nutritionals has to offer from their partnering manufacturers.
- Bioecolians® Alpha-Glucan Oligosaccharide Prebiotic: Bioecolians® from Algatechanologies is a new clinically tested and patented prebiotic powder that supports a healthy microbiome at only 1/2 the serving size of the other oligosaccharides with no flavor, taste, or smell. Its unique structure allows it to be fermented in the colon, these feeding the good bacteria and reducing the number of harmful bacteria. https://www.barringtonnutritionals.com/bioecolians
- AstaPure® Arava whole algae powder (organic-certified and conventional): While astaxanthin is certainly a remarkable carotenoid extracted from the algae, Arava also contains phospholipids, polysaccharides, vitamins, dietary fibers, fatty acids, and healthy proteins naturally present in the algae. Initial testing has revealed a synergism between the astaxanthin and other natural compounds that suggest a positive immune response, improved mitochondrial function, and improved reparative and regenerative functions. https://www.barringtonnutritionals.com/astapure
- Sibelius™:Sage: Clinically tested, proprietary, and patented sage extract shown to improve cognition. Remarkably, users feel improvement in alertness, focus, and clarity within 10-60 minutes of consuming Sibelius Sage. Truly an amazing product backed by science. https://www.barringtonnutritionals.com/sibelius-sage
To learn more, visit barringtonnutritionals.com or contact Barrington at (914) 381-3500
Connect – Elite Update
At Elite we are happily, and cautiously, moving forward in our post-COVID stride, We continue to press forward with improvements to our team and facility to fulfill our vision:
“To be the premier contract manufacturer of nutritional services in the industry, exceeding quality expectations, providing outstanding customer service in every way, and providing on-time delivery of every product.”
People –
We have added several roles to our team from various departments; IT, Training, Operations, and several in Production. In Q1 of this year, we increased our staffing by 25% even with the nationwide labor shortage we have continued to add to our team!
Facility –
Our air handling system update nears completion! This will give us improved environmental controls in all areas of production. Our goal is to expand our production capabilities with probiotics, enzymes, and similar sensitive formulas by the end of 2021.
Safety –
Last but not least we are excited to announce the creation of our Safety Hero Program at Elite. Safety is always our top priority and one of our Core Values. The Safety Hero program is designed to recognize those that exhibit a strong commitment to workplace safety. We received an abundance of nominations and will announce the first winner soon on our social platforms.
Shonna Rhein, Executive Assistant and Office Manager, brings more than 30 years of executive and office management experience. Excels in HR, office organization and administration after years in the legal and entertainment industries.
Alex Fowler, Director of Operations, brings more than 14 years of experience in manufacturing primarily in the food industry. Provides expertise in Lean Manufacturing and Engineering Project Management. Alex has his B.S. Chemical Engineering from Georgia Institute of Technology and MBA from University of Utah.
Tito Flores, Director of Sales and Business Development, has more than 28 years in manufacturing experience, 14 years in the Dietary Supplement industry, with expertise in sales and new business development. Tito has his BS from the University of Montana.
Doug Lefler, Director of Client Services, has more than 26 years in industry experience, 20 of which is from ELITE. Doug continually delivered strong levels of customer satisfaction working directly with customers and in-house departments on product development, regulatory compliance, formulation, material sourcing and specification development. Doug has his BA from the University of Montana.
Jennifer Schall, Director Product Engineering, is one of the ELITE’S co-founders. Jen brings 27 years of experience in Dietary Supplement with expertise in material finished product specifications, formulations, and global label standards.
Mark Robson, CFO, is a Certified Public Accountant with Big Four audit experience and 20 years of senior financial management experience in CPG manufacturing, with both large international and private equity owned organizations. Beyond traditional senior financial management, Mark has substantial experience in M&A transactions and integration, and supply chain management.
Greg Menke, CEO, brings more than seven years of executive management and 37 years of manufacturing experience with both large international and private equity owned organizations. An acknowledged leader in large scale facility restructuring and operational improvement programs Greg has his BA in Business and MBA.