Vitafoods Europe 2024 was a vibrant hub for the latest in nutraceutical innovations, spotlighting groundbreaking technologies and trends at the Future of Nutrition Summit. With over 20,000 attendees and 1,100 exhibitors from 160 countries, this year's event was a prime venue for networking and business development in the health and wellness sector. Key discussions revolved around the digitalization and interpretation of data, highlighting their transformative impact on the industry.
Insights and Trends
1. Shifting Consumer Demands and Regulatory Influence
Consumer behavior and government regulations are driving significant changes in the health trends within the food industry. Notably, 51% of global consumers consider their current eating and drinking habits to be healthy or extremely healthy. However, a striking 64% express a desire to improve their eating habits, with 29% willing to pay a premium for enhanced nutritional properties in their food and drinks.1
2. Women's Health Supplements: A Growing Market
The women's health supplement sector is experiencing increased demand for clinically backed products, echoing a broader shift towards evidence-based nutrition. This trend is further supported by the US Executive Order on Advancing Women’s Health Research and Innovation from March 2024. Women are seeking solutions tailored to different life stages beyond traditional categories like menopause. Given that women are more likely than men to purchase supplements, often shopping for their families, they influence an estimated 80% of healthcare purchasing decisions.2
3. Tailored and Holistic Health Solutions
Brands are recognizing the need to move away from generic, one-size-fits-all products towards more tailored health solutions. The emphasis is now on holistic wellness, which encompasses more than just physical wellbeing. Brands are developing formulations with synergistic effects to support overall health, reflecting the evolution of functional foods into holistic powerhouses.
4. Educating Consumers on Supplement Benefits
There is a clear opportunity for brands to educate consumers on the effectiveness of supplements for symptom reduction and prevention. Despite the benefits, regular use of supplements remains inadequate among consumers.
5. Addressing Sleep, Stress, and Mental Wellness
Sleep concerns span all generations, while older individuals are more focused on physical health. Stress and mental wellness issues are particularly prevalent among women. Concerns related to sleep, energy, and mood present significant opportunities for brands, as these interconnected issues highlight gaps in current offerings.
6. Advances in Biotics and Microencapsulation
Consumer understanding of the gut-brain axis and its impact on sleep, mood, and stress is driving interest in biotics. Microencapsulation technology also stood out at the event, showcasing its potential applications in nutraceuticals.
7. Growth in Functional Ingredients
Some of the fastest-growing functional ingredients are those targeting immunity, digestion, energy, and cognitive health. US consumers are particularly focused on supplements for performance and hydration, with these products experiencing double-digit growth.3
8. Innovations in Digital Engagement
China leads in consumer app spending, with an average of 5-6 hours per day spent by consumers.4 This digital engagement is driving innovations like personalized landing pages and digital human avatars, capable of selling online 24/7.
Looking Forward
Vitafoods Europe 2024 underscored its critical role in the nutraceutical industry by fostering collaboration, knowledge sharing, and the advancement of health and nutrition. As attendees look forward to future editions, these insights from the event offer a glimpse into the dynamic and innovative atmosphere that defines Vitafoods Europe. The continued focus on tailored, holistic health solutions, backed by scientific innovation, ensures that Vitafoods remains a pivotal gathering for industry professionals worldwide.
