Natural Products Expo West trade show in Anaheim is one of the largest trade shows in the world for businesses in the natural products, functional foods, dietary supplements, and natural and organic foods. The first show was in 1981, and it has gone from strength to strength, with more than 3 000 exhibitors and 90 000 attendees now.
There are several emerging trends that are shaping the landscape. Plant based products continue to grow, with large demand for natural products. Natural is an industry buzzword heard more frequently and is taking market share from conventional foods and supplement companies – whilst leading food and beverage companies lost $19.1 billion between 2009-2014, the natural and organic sector grew by $12.6 billion. This shift away from processed foods and synthetic supplements is closely linked with trends for low environmental impact and zero waste aspirations from both industry and consumer. The internationalisation of the natural products industry is clear, with most companies looking to make an impact on an international stage, rather than just in its local country.
“Phynova is right ‘on trend’ with all of its products being plant based, eco-friendly, and addressing some of the largest global health threats.”
Small brands making significant gains
The Phynova team gained a number of valuable insights from the show about consumers and how purchasing habits are changing. No more are consumers interested in being wowed by a long list of product USPs, but rather they are interested in buying brands that resonate with them on a personal level. The product benefits, whilst important, are not the only purchasing motivator anymore. This is evident in the fall in demand for big brands that are largely driven by the bottom line and are losing market share to small brands that are aligned with consumer beliefs in ethical business, sustainability, health, and quality ingredients. Innovation is also a major driver for consumer purchasing and another area where big brands are rapidly losing market share to smaller, nimbler brands.
How people shop is changing
Where people shop is also changing rapidly. The days of buying your health products from a retail store look numbered as consumers are moving from ‘offline to online’ in significant numbers . Consumers prefer the speed of buying products online and the internet is the becoming the favoured ‘location’ for new brands to launch, and for consumers interested in for health and wellness products it is the preferred channel. In the US, buying from practitioners who are able to offer personalised advise, and Multi-Level-Marketing (MLM) are also experiencing good growth.
Bright future ahead
The main takeaway for the Phynova team at the end of Expo West 2018, is that the future looks very bright. Our innovative products can help consumers take control of their health, whilst ticking all the boxes for being natural, plant based, sustainable, and eco-friendly.