Private: Joint Ventures And Strategic Collaborations To Boost Nutraceuticals Portfolio Globally
Need for preventing chronic disorders in people, enhancing wellness, and increasing life expectancy are set to boost nutraceuticals market trends. Clinical studies have revealed that nutraceuticals can effectively treat cancer, heart disorders, and cancer, thereby enhancing the popularity of these products in the healthcare sector. As per the U.S. Food and Drug Administration (FDA), curcumin, a nutraceutical, is safe for intake and pharmacological utilization. The U.S. FDA approved the use of nutraceutical omega-3 fatty acids as an alternative treatment for reducing the risk of heart ailments. This will boost the nutraceuticals demand in the pharmaceutical sector. According to the report published by Allied Market Research, the global nutraceuticals market is projected to reach $650.5 billion by 2030. Following are some of the trends in Nutraceuticals industry witnessed across the globe.
New product launches have strongly leveraged the growth of a spectrum of industries and the nutraceuticals industry is no exception to this. AKTA Nutrition, a nutraceutical brand, launched a new nutraceutical product line through the utilization of quality ingredients such as vitamins and minerals. Reportedly, the new product offerings include Bye-Bye Stress, Good Immunity, and Beet Strong. The strategic move is aimed at enhancing the well-being of the consumers along with increasing the product portfolio of the firm. Ruchi Soya Industries launched ten nutraceutical products under Patanjali and Nutrela brands. Furthermore, the firm has made use of Patanjali and Nutrela brands for packaging, advertising, and promoting its products. Furthermore, Nutraceutical startup Power Gummies increased its nutraceutical product portfolio through the introduction of Bless Sleep Gummies. The launching of the product is aimed at improving the sleep time of individuals through the reduction of stress and mind relaxation.
Acquisition is one of the strategies adopted by market players to expand their existing product line or introduce a new product line. GPO Plus, Inc., a publicly traded global holding firm, entered an asset purchase deal to acquire Nutriumph® Supplements from Orev LLC, a limited liability firm based in Nevada. Reportedly, the acquisition also includes HERBERALL®, an herbal brain supplement and part of Nutriumph® Supplements. Furthermore, Nestle Health Science decided to acquire The Better Health Company (TBHC), the parent firm of GO Healthy and Egmont, from CDH investments and TBHC founding stakeholders. Reportedly, GO Healthy brand is New Zealand’s major supplement brand. Moreover, Nestle Health Science is also predicted to acquire New Zealand Health manufacturing, vitamin supplements and minerals manufacturing unit in Auckland. The strategic move is aimed at augmenting Nestle Health Sciences’ health & wellness portfolio. Furthermore, the initiative will help Nestle in expanding its business in New Zealand and enable it to launch new dietary supplements in the regional markets.
Securing investments has become a major strategy for industry players to increase their gains. Sami-Sabinsa Group Limited, a nutraceutical brand, decided to invest nearly INR 300 Crore in constructing two more nutraceutical manufacturing units in Hassan, Karnataka. The move is aimed at enhancing the production of nutritional fine chemicals and herbal extracts in India. Ankurit Capital, an alternative investment fund, purchased a 7.71% stake in Deccan Healthcare, a cosmeceutical and nutraceutical products firm. Moreover, the investment will help Deccan HealthCare to expand its business in the direct-to-consumer sector and boost its presence in the U.S. and the United Arab Emirates (UAE).
Continuing with the trends of securing investments, Nykaa, an Indian e-commerce firm in the wellness and fashion product business, invested nearly INR 3.6 Crore in Nudge Wellness, a firm providing wellness and nutraceutical products. The investment made by the firm in the wellness industry marks its foray into the dietary supplements and nutraceuticals space.
Joint ventures and strategic collaborations are also predicted to play a bigger role in impacting the expansion of the nutraceuticals market. Nutralife Biosciences Inc., a key producer and distributor of nutraceutical brand products, declared a joint venture deal with Emergent Health Corporation, a medical firm developing and selling nutraceuticals and phytonutritionals. The strategic move is aimed at the co-production, distribution, and co-promotion of Emergent’s line of nutraceutical products. DolCas BioTech, LLC, a key player in the nutraceuticals industry, and Tenshi Kaizen Pvt. Ltd., a tech-based specialty pharmaceutical firm, formed a joint venture. The move is aimed at the huge production of nutraceuticals and will help DolCas-Tenshi Bioceuticals, Inc., a joint venture entity, to create a unique position for nutraceutical products in the global nutraceuticals industry.
Trends of joint ventures and strategic collaborations will also create new revenue streams for players in the nutraceuticals business. National Innovation Foundation-India (NIF) entered into agreement with Bharat Vikas Group (BVG) India Limited to form a new joint venture entity. Reportedly, the new entity will help in the commercial production and promotion of nutraceuticals. Such strategies are projected to boost the nutraceuticals portfolio of the firms and will contribute notably toward market proceeds.