Innovate or DIE: How to WIN in Natural
Published on January 20, 2020
Author: Kyley Paul
The reality is, the natural food and health food industry is notably outpacing conventional CPG in growth...in all channels. Which means not only are they taking over the online market and building their initial following there- when they get to brick and mortar, there is already a demand for these products and they outsell conventional products on shelf.
So, being that this is the harsh truth- How do you win?
KNOW YOUR TARGET: After of course having an awesome product and building a company and corporate culture around your "why"; you MUST build your marketing around well...your market! Get dirty, scroll away- learn about where they spend their time (Hint: IG) and GO there! Brands that are doing well aren't begrudgingly posting because they "have to"; they are taking advantage of the platforms to engage and tell stories.
TRENDS: Alternatives are HUGE! Below are a few fun examples of fun products that are protein alternatives. However, every "traditional" food category has alternatives that are growing : cheese & dairy, gluten/bread/starch products, meat. With the rapid concern and awareness of dietary restrictions, sensitivities and allergies; new brands are responding! I met a start-up who has a nut-free, diary-free cheese made from another vegetable source!
Yes, we will talk about #cbd. In Canada, with the launch of 2.0 edible products are now available at dispensaries for purchase : beverages, food products, topical and tinctures. However- there are NO health benefit claims allowed on these product labels or marketing...yet. Being deeply involved in the industry and blessed with incredible strategic partners, I know that amazing research is being conducted to substantiate targeted efficacy claims of cannabis and cbd products. For now, we can expect the demand is high for these products and retail will see an increase in product sales. We can elude that there is HUGE potential and opportunity for future growth in this space. (Common 3.0 and CHP's!)
What about capital investment in this industry? Even with the ongoing trade war with China, there is still investment and M&A closing in this sector. Not only that, North American family offices, VC and Private Equity firms see tremendous value in investing in natural. As mentioned in an article in September, twenty years ago only about a dozen firms invested in Health & Wellness. Today over 400 PE and VC firms invest in over a thousand deals surpassing $100B year over year.
To sum this up... create a great product for a specific audience and leverage the marketing tools available. Most importantly, don't forget your #hashtags.
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If you are interested in developing, producing or selling a Natural Health Product, NaturalSci Regulatory Consulting can help you to get started. The best place to start is to set up a consultation with one of our specialists. Get started right away by clicking the link below to get in touch with us.
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