With only 6 weeks until 2021 and in light of the lowest volume trading day since July, got me thinking, what have we got in sight for next year and beyond?
The demand for nutraceuticals & functional foods is expected to witness an upward surge owing to consumers opting for immunity boosting supplements during the COVID-19 pandemic. Furthermore, a decline in the consumption of poultry, meat and seafood products across the globe is expected to increase the demand for plant and animal-based protein supplements in the near future.
- Peter Flethcher - Operations and Production Manager - steps into this role as of Monday. His many years of experience with Bidfood and Talley’s Group will be a huge asset to the company IMO.
- Toyond - recieved their trial order of mussel powder around 4-5 weeks ago, I'd be expecting to hear some news regarding this in the near term.
- We move into Q2 quarter of the Dr Behr agreement. With already increased supply here, we'd be hoping for further expansion from the good Doctor.
- The Hong Kong customer (anyone got a name?) increased purchasing of products should continue to grow.
- Upgrades to the facility should come on-line in the next Quarter.
Positive attitude of consumers towards functional foods mainly on account of the added health and wellness benefits offered by nutraceutical products is fuelling market growth. Growing geriatric population, increasing healthcare costs, changing lifestyles, food innovations, and expectations regarding their higher prices have aided the overall growth of the nutraceuticals industry. It has been reported that nine out of ten adults consume 55% minerals and over 50% vitamins in their daily diets. Asia Pacific accounted for the major market share of 31.01% in 2019 and is likely to maintain its lead. Rising levels of disposable income, changing lifestyle, and shift in preferences for healthier dietary intake in emerging economies are expected to drive the demand for nutraceuticals in; Asia Pacific, Brazil, China, and India are likely to expand the fastest.
We are well positioned to grab this opportunity by the balls and grow significantly.
(20min delay)