Introduction
Defined as “a product isolated or purified from foods that is generally sold in medicinal forms not usually associated with food” by Health Canada, nutraceuticals are an item of growing importance under the encompassing umbrella of the dietary supplement category.
The link between food and health has long been propounded by many ancient civilizations. As modern scientific studies validate these claims, consumer attention has soared and contributed to the rapid growth of the industry. According to BCC Research, the global market for nutraceuticals is expected to reach $176.7 billion by year 2013, using a compound annual growth rate of 6.9%.
However, although opportunities usually come hand-in-hand with growth, so do new challenges arise to impede success. For a nutraceuticals company seeking to create their own private label, choosing the right contract manufacturer is tantamount to success, as most of these challenges can be resolved by a good contract manufacturer.
Experience
As consumer demand surges, many nutraceutical companies are scrambling to take advantage of the immense market potential, thus placing a heavy strain on their manufacturers to keep up with supply. As a relatively new industry with a fair number of new entrants, not all contract manufacturers are able to offer the flexibility of all types of formulations and supplement types, thereby preventing companies from reaping the benefits of a long-standing business partnership with a single contract manufacturer. As well, many contract manufacturers may be unable to produce massive amounts of products in bulk, depriving nutraceutical companies of economies of scale.
Nutralab Canada has been a major player in the contract manufacturing industry for years, and is equipped with the most state-of-the-art equipment capable of producing tablets, capsules, softgels, powders, and liquids in-house for both large and small orders.
Quality of Sources
With increasing consumer concern about food safety, the quality of the raw materials used to create nutraceutical supplements has come under intense scrutiny. Recalls due to safety concerns can irreversibly cripple even the most established nutraceutical company, heightening the importance of quality ingredients with traceable origins.
At Nutralab Canada, a strategic partnership with Honson Ingredients (a trusted Canadian raw ingredient supplier with over 10 years experience) ensures a reliable and trustworthy source of quality materials. This also enables Nutralab Canada to provide a one-stop-shop service, from product idea to final retail package, so customers can enjoy unparalleled convenience and service.
Manufacturing Standards
The implementation of current Good Manufacturing Practices (GMP) standards has clearly indicated the industry’s keen interest in quality control and quality assurance. It is important for nutraceuticals companies to select a contract manufacturer with a reputation for quality standards and stringent adherence to the guidelines as set by GMP in order to ensure product quality and control for merchandise standards.
Nutralab Canada has a strict QA/QC protocol, and has a GMP site license awarded by Health Canada. We are able to offer all our customers perfect ease of mind regarding the quality of their finished product.
Conclusion
In conclusion, there exists a myriad of challenges for the nutraceutical company hoping to bring their private label product onto the market. Fortunately, most of these problems can be overcome by the appropriate and prepared contract manufacturer. To take advantage of the experience and expertise of a seasoned contract manufacturer, contact Nutralab Canada today to get your project off the ground and start on your path to private label success!
This article was written by Tracy Gu, for Nutralab Canada. Nutralab Canada offers a one-stop-shop for all your contract manufacturing and private label needs. Contact us today at 1-866-446-6766 toll-free and 905-752-1823 local, or email us at info@nutralab.ca. Visit our website at www.nutralab.ca for more information!
References
“Policy Paper – Nutraceuticals/Functional Foods and Health Claims on Foods.” Health Canada. Government of Canada, 4 Oct. 2002. Web. 29 Nov. 2010.
Sugla, Sandeep. “Nutraceuticals: Global Markets and Processing Technologies.” Food and Beverage. BCC Research, Oct. 2008. Web. 29 Nov. 2010.