A global industry survey conducted by Nutrify Today, a nutraceuticals i2c (ideas to commercialization) platform, has found that there is growing optimism around the food and nutrition industry globally and technologies like artificial intelligence will further drive the market growth. The study also sees India as a leading player in the industry that will harness the value of the market. Nutraceutical industry leaders from the USA, Israel, Switzerland, Singapore, India, Hong Kong and Japan were engaged in the survey. Tech in Nutraceuticals Industry is a broad umbrella term that is used to describe any product derived from food sources with extra health benefits in addition to the basic nutritional value found in foods
Tech in Nutraceuticals Industry and nutraceuticals businesses will evolve as a science driven industry rather than just remaining as a marketing function of an organization. Real time definition of consumer needs will become more prevalent in the future making consumption easier.
There respondents felt that there will be modifications from a generic recommendation to true precision nutraceuticals. Thus, precision nutrition will gain global significance in near future. The physical status of the individuals will be the key decision maker of the diet and nutrient recommendations. Preservation of nutrients and bioactive compounds will become increasingly essential. The shelf-life of the end products will sharply increase as will transparency in business, faster NPDs, accurate market analyses will help companies for market penetration and convince consumers.
Precision nutrition using tech nutra is going to gain global significance in the future, predicts Nutrify Today survey. In the food industry, blockchain technology can reduce inefficiencies as it provides transparency. On the other hand, the industry leaders also identified specific challenges like lack of skilled workforce and global regulatory framework, data privacy and high cost. “In a complex environment with opportunity and challenges, it’s often the new generation of start-ups that drive innovation, and the same is evident from all emerging success stories across the world,” noted Srivastava. “Tech nutra will be innovation-driven by start-ups, and eventually, there will be large nutrition conglomerates who will enter this segment by way of merger and acquisition.” Companies like Cargill and Unilever are also already harnessing AI, as seen with the use of Eagle Genomics’ flagship knowledge discovery tool, e[datascientist], to organize and synthesize research and insights on microbiome data.
