MarketPlace shares trends, predictions as confluence of food and supplements reign at Expo West
The strategy and branding firm focused on nutrition and wellness brands prepared an annual report on supplement trends and consumer insights.
“One of the big takeaways is that 48% of consumers said that they would consume a beverage every day or almost every day if it contained what they would find in a pill, so a supplement alternative in the beverage,” said MarketPlace Growth Strategy Director Megan Hook.
Looking at the trends report, Hook drew parallels between functional beverages and gummies.
“For example, we all know gummies, it's a really popular format. If I had told you 21 years ago that you would be getting your zinc everyday primarily through a candy, a gummy bear, you would have thought that was crazy, right? It seems absurd in the moment, but when you look backwards, you can say ‘Oh wow, you know, we see that consumers have pill fatigue, they're tired of lining up their pharmaceutical drugs with their supplements every day and just taking them with a big glass of water. It's fatiguing and they want different alternatives, different formats and gummies provide that. They’re are delicious, they're fun to eat and they're delightful. Consumers want to be delighted. So we see beverages as the next new gummy.”
MarketPlace President Tracy Landau said another trend is strategic partnerships that leverage technology and nutrition expertise.
“Without those partnerships between the ingredient companies and the brands these technologies would not have advanced. And as consumers, we wouldn't be able to enjoy products that have multiple benefits,” Landau said. “So our expectations are higher, I think as consumers, we really want those things…We need to meet consumers where they are and have those functional ingredients included in the foods, beverages, supplements, gels, all of the other different formats that now we're seeing to give consumers those options.”
MarketPlace said we can expect to see a greater emphasis on the confluence of food and supplements, clean labels, and a higher demand for a Regenerative Organic certification. If brands can stay ahead of these trends, they are better positioned for success down the road.