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How Does the Economy Affect Natural Products?
March 13, 2009
3 Min Read
PHOENIX—Following the success of Natural Products Expo West, there is a growing belief that the natural product and dietary supplement industry may be more “recession-proof” than other industries. While this may be true, it is also true that the economic downturn has an impact. From credit to company valuations to M&A activity to investment in R&D and marketing, companies are faced with a long list of factors to consider.
The upcoming SupplySide East trade show, set for April 27 to 29 in Secaucus, N.J., includes several seminars and panel discussions focused on various aspects of the economy and their impact on industry. The 11th annual event features more than 30 seminars covering science, regulation and trends in supplements, foods & beverages and cosmeceuticals. Sessions related to economic issues include the following:
“Today’s Economy and It’s Impact On Industry”, a panel discussion with David Thibodeau, managing director at Canaccord Adams Investment Banking Group and James S. Tonkin, principal at TonkinConsulting Healthy Brand Builders. The panelists will cover company valuations, M&A and investment activity, and how the economy is affecting strategies related to product development, marketing and R&D.
“Issues and Trends in the Herb Market: The Latest on Market Trends, Statistics, Regulation and Research”, presented by Mark Blumenthal, founder and executive director of the American Botanical Council. Blumenthal will cover the latest market statistics, including data showing that despite the economic downturn, the market for herbal products in North America grew at a steady pace in 2008 and displayed signs of soundness.
“Economic Volatility Creates New Marketing Paradigms: New Consumer Insights in the Health and Wellness Marketplace”, presented by Gregory J. Stephens, R.D., vice president of strategic consulting at The Natural Marketing Institute. Stephens will pinpoint where the industry stands today and suggest a blueprint for the future based on the economic situation and NMI’s proprietary data on consumer attitudes and behaviors.
“Dietary Supplement Market Trends and Opportunities”, presented by Tom Vierhile, director of product launch analytics at Datamonitor. Vierhile suggests that despite the trying economic times, most consumer still believe that their best times are ahead of them. He will explore product in market trends, including how consumer attitudes toward dietary supplements, health and nutrition tie into their optimism and hope for the future.
“A Hartman Group Wellness Insights Syndicated Study: Healthy Eating Trends 2009”, presented by Arwen Kimmell, ethnographic analyst, The Hartman Group. Kimmell will present new data from this 2009 syndicated consumer study, including shifts in shopping channels, ingredients, notions of convenience, consumer attitudes about “eating better” and more.
“The Global Health and Wellness Market – Today and Tomorrow”, presented by Danieal Latev, senior departmental research analyst, Euromonitor International. Latev will highlight the global market for healthy foods, fortified/functional foods, better-for-you products, organic foods and beverages, dietary supplements, and slimming products, including an analysis of the future of the health and wellness market taking the economic climate into consideration.
“Panel: The New Age of Data Driven Marketing”, featuring Gerard McIntee, vice president at NBTY, David Williams, vice president of loyalty services at Living Naturally, and Doug Bean of Raisin Rack Natural Food Market. This panel will discuss the efficiency of data-driven marketing in a web-based world, a key topic as marketers consider how to increase their ROI.
Details on all presentations at SupplySide East are available at www.supplysideshow.com/east. The event also features an exhibit hall with hundreds of companies displaying thousands of innovative ingredients. SupplySide East is produced by Virgo Publishing, the publisher of Natural Products Insider, Food Product Design, and Natural Products Marketplace magazine.
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