NIU’s Global Round-up: Argentina's supplement market growth, CBD's regulatory status in Europe, and more

LATAM​

Argentina supplement market to grow faster than Brazil & Mexico ​

Argentina’s dietary supplement industry will experience year-on-year growth at 18.8% this year, according to Euromonitor International, which vastly exceeds the growth predicted for Brazil and Mexico (both 5.9%).

Last year (2018), Argentina's dietary supplements category grew 29% year-on-year (retail value) to reach total sales of ARS1.1bn (US$27.4m), the Euromonitor data showed. And over the next five years, the market research provider forecasts a CAGR of 7%, driving sales up to ARS1.6 billion (US$39.9m) by 2023.

“Dietary supplements sales increased notably in 2018, driven by herbal and traditional products such as ginko biloba, chia, spirulina, fish oil, and green coffee tablets as a result of healthier habits and rising awareness of natural ingredients,” ​said an analyst at Euromonitor International.

The overall dietary supplements market across the whole Latin America region will see a 6.2% year-on-year retail value growth this year, says Euromonitor.

For more on this from NutraIngredients-LATAM, please click HERE​​.

Europe​

Indecision reigns over current CBD Novel Food status ​

European authorities are rethinking their decision to classify Cannabidiol (CBD) as a novel food following the presentation of evidence to the Standing Committee on Plants, Animals, Food and Feed (PAFF Committee) by the European Industrial Hemp Association (EIHA).

Evidence indicated that hemp and hemp extracts have been used before May 1997, thereby ruling out its ‘novel food’ status.

“Hemp extracts were indeed made and sold in products, which would nowadays be called supplements,” ​the EIHA said.

“We are requesting the European Commission to recognize hemp extracts with naturally occurring CBD levels as traditional in food.”​

 “Collected evidence clearly demonstrate that hemp leaves, flowers and whole plant hemp extract have a history of use prior to 1997 in Europe and there should be no doubt over their novel status,”​ said a spokesperson for CannabiGold, a CBD oil producer and manufacturer.

“Allowing the use of hemp extract in food products is perfectly safe and is in the interest of European consumer”​

A novel food is defined as food that has not been consumed to a significant degree by humans in the EU before 15 May 1997, when the first Regulation on novel foods came into force.

For more on this, please click HERE​​.

Asia​

Aussie brand VÖOST targets male consumers with sports nutrition launch​

A new range of effervescent tablets for men with a sports nutrition positioning will form a central part of the Australian brand VÖOST’s plans to grow domestically and across the APAC region.

The orange-flavoured product, called VÖOST Performance, comes in packs of either 20 or 40 tablets, and contains vitamins B and C, along with magnesium, zinc and calcium.

“Our products so far have been typically more skewed towards the younger female millennial market, and Dustin Martin will attract a larger share of the male market for us,” ​co-founder Thomas Siebel told NutraIngredients-Asia​.

The company currently holds about 17% of the market share in Australia's A$65m effervescent vitamin sub-category, which is currently led by Berocca.