Food supplements (dietary supplements) are a lucrative and rapidly growing market segment that will continue to grow and spread to various geographic markets around the world as consumer behaviours continue to shift towards personal health. Currently, North America accounts for the largest total market share in terms of revenue due to the rising demand for sports nutrition and the increasing focus on a healthy, active lifestyle, but other emerging markets are not far behind and this industry is growing rapidly in emerging markets.Along with the increasing awareness towards personal healthcare, the food supplement market has also been affected by the overall shift in preference towards natural products. This is especially visible in the Asia-Pacific region, where rising sales of natural food supplements (natural remedies) such as royal jelly and chlorella has contributed to making this market the second largest food supplement market globally. Currently, the Asia-Pacific region accounts for almost a third of total global food supplement market revenue share.
Selected Food Supplement Consulting projects we at Chameleon Pharma have worked on:
- We have supported 4-5 leading European food supplements companies on completing a country analysis of several key LATAM markets to identify the best potential country to expand to, including a competitive analysis and to identify the differentiation KPIs for market entry strategy.
- We have supported a number of international investors in Vitamins, Minerals and supplements (VMS) to create an international strategy to expand to other countries and to identify trending ingredients and future market outlook.
- We have consulted a number of US and Asian food supplement manufacturers on the regulatory requirements and licences necessary and to adjust the products claims towards local laws and successful market entry in Europe.
- We have worked with borderline products such as D-Mannose, melatonin, Vitamin D etc. Mostly regarding the allowed claims, concentrations, packaging, galenic forms, and registration status vs. Medical device and drugs etc.
- Using our Systematic International Partner Company Identification process, we successfully identified the top 3 best fitting marketing and distribution partners for 2-3 European food supplements companies to launch in Russia/CIS as well as in 3-4 Latin American markets.
- We have consulted a mid-sized EU food supplements company on the identification of key product and company acquisition targets in Russia/CIS and conducted the associated due diligence to prevent competition from other investors.
- Analysed the food supplement sector in multiple countries such as Asia to develop a unique international market entry strategy to ensure differentiation from other players for a European OTC & Food supplement group.
- The European claim directive and labelling is a complex topic. We have supported many Rx. and OTC companies to evaluate their Food Supplement products and claims in order to comply with the EU laws.
- It is not always easy to evaluate new Food supplement products, concepts and new trend ingredients on an international level. We have supported OTC & Pharma groups to design market entry strategies on the Food supplement segment and to identify new trend ingredients.