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Coronavirus relief package will ease loan process for smaller supplement firms The $2 trillion stimulus packaged passed unanimously by the U.S. Senate this morning will have important implications for the dietary supplement industry that may help companies survive the worst of the coronavirus crisis impacts. Read more→ Panic buying of immune products causes shortfalls, greater supply gaps loom in months ahead3/19/2020
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Editor’s Note: Due to the major disruptions caused by the COVID-19 pandemic, UNPA has expanded its coverage of news related to the outbreak and the dietary supplement industry, including other items of professional and personal interest. Stay safe and healthy! Panic buying of immune products causes shortfalls, greater supply gaps loom in months ahead A pulse of supply and production issues caused by the COVID-19 crisis is making its way through the dietary supplement industry. Inventories of botanical ingredients continue to hold up, but unprecedented demand for immunity boosting products is causing some strain. The picture of the global disease crisis is increasingly complicated, and it is difficult to predict what next few weeks will bring. Following is a list of articles detailing the many impacts and efforts in the dietary supplement industry to address issues and anticipate challenges. Read coverage: Panic buying of immune products causes shorfalls, greater supply gaps loom in months ahead→ Export Challenge: China’s botanical firms in supply chain battle as global orders rebound for immunity ingredients→ New coronavirus stable for hours on surfaces→ CDC: Checklists for individuals and families→ COVID-19 update: Industry works to keep stores well-stocked to meet consumer needs→ COVID-19: Opportunities for health supplement firms to communicate immune-boosting role of micronutrients→ Disease crisis turns up pressure on analytical labs: UNPA members comment→ Natural retailers bolster efforts to limit Covid-19 transmission→ Small firms also struggle as restaurants shut down due to coronavirus→ COVID-19 brings strong China online sales for ANZ’s Comvita and AuMake→ Analysis: New trends in wake of coronavirus→ Trade show COVID-19 disruptions highlight value of in-person connections→ Apps to provide calm→ TOP STORY
FDA sends wave of warning letters regarding COVID-19 As cases of COVID-19 spread across the globe, U.S. regulatory agencies responded to false product claims surrounding the outbreak with a wave of company warning letters. The agencies jointly issued warnings to the companies—makers of teas, essential oils, tinctures and colloidal silver—and implied in a press release that the targeted companies had made false or misleading claims about products in connection to the virus outbreak. Meanwhile, Sen. Richard Blumenthal, D-Conn., sent a letter to regulatory agencies demanding more action and noting that the issuance of warning letters to these companies is “insufficient.” Read coverage: FDA sends wave of warning letters regarding COVID-19→ Senator calls COVID-19 warning letters 'insufficient'→ Senator Richard Blumenthal’s letter→ TOP STORY
ConsumerLab 2020 trends survey: collagen, magnesium and CBD top list ConsumerLab’s annual survey of consumer trends and preferences detailed this year’s rise and fall of more than 169 supplement products, as told by a pool of 9,782 dietary supplement users, who shared which supplements they currently use. Over the past year, collagen rose in popularity by 4.1 percent, as did magnesium by 2.3 percent and CBD by 2.6 percent. The greatest decreases in popularity, according to ConsumerLab, were curcumin/turmeric, which fell by 9.9 percent and cinnamon, which fell by 9 percent. Read more→ TOP STORY
Coronavirus: CDC warning; Sharpee Q&A; vitamin demand in Singapore; supply chain impact Federal health officials starkly warned this week that the new coronavirus will almost certainly spread in the United States, and some lawmakers questioned whether the nation is prepared. Companies in the dietary supplement industry are trying to get out ahead of the potential outbreak providing information about the coronavirus and what to do if you suspect you have the virus. The NOW Health Group's Rick Sharpee, Ph.D., director of science and nutrition, who is an expert on discovery and characterization of bovine coronavirus provides an informative Q&A. Meanwhile, in Singapore, the Covid-19 virus has sparked a sudden spike in demand for vitamin C and multivitamins, according to a major retailer in the city state. Could it happen here? Read coverage: C.D.C officials warn of coronavirus outbreaks in the U.S. → Coronavirus Q&A with Dr. Rick Sharpee→ Coronavirus in Singapore: Vitamin demand jumps five-fold in two weeks for supermarket chain→ TOP STORY
FDA acknowledges nearly half of dietary ingredient notices For the second year in a row, FDA acknowledged without objection nearly half of new dietary ingredient notifications (NDINs). The pre-market notifications are a fundamental requirement in the Dietary Supplement Health and Education Act of 1994, aimed to ensure new ingredients are reasonably expected to be safe. Current and former FDA officials were wary to suggest the data foreshadows a long-term trend in an industry, but the acknowledgement rate does mark an improvement over the historical average. Read more→ TOP STORY
Nutrition businesses in China take proactive measures and seek normalcy as in wake of coronavirus outbreak Supplement manufacturers and suppliers in China sought a return to normalcy as they resume operations as the extended Chinese New Year holiday—lengthened by the novel coronavirus outbreak—comes to an end. While some were able to maintain operations, others are getting back to work and don’t anticipate a disruption to supply. Gary Nowacki, CEO of TraceGains, a software company that delivers cloud-based supplier compliance, quality management and new product development solutions, noted that the impact on the North American dietary supplement industry could be very, very serious, and making things more complicated is the existence of semi-processed ingredients. Read coverage: Coronavirus problems: Nutrition businesses in China seek return to normality as extended holiday ends→ Impact of coronavirus on supplement industry 'very, very serious'→ TOP STORY
Coronavirus outbreak poses particular risk for dietary supplement industry The coronavirus outbreak in China carries potentially enormous implications for the dietary supplement industry, but a rapidly changing situation has not made it easy for companies to plan a response. With such a large percentage of ingredients originating in China, dietary supplement brands could be especially vulnerable to trade disruptions, and companies that engage in business travel there are already responding. Read more→ TOP STORY
Personalized nutrition's future to rival plant-based meat, says UBS The likes of Nestlé, Apple and 23andMe are spearheading the drive toward personalized nutrition that could see the sector become the next plant-based meat, according to investment bank UBS. The investment firm believes that the benefits food, medical diagnosis, technology and food-delivery services could gain is enough to propel the sector to $58 billion by 2040. Read more→ Lucky’s Market reportedly closing the majority of its stores, including 20 Florida locations1/23/2020
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Lucky’s Market reportedly closing the majority of its stores, including 20 Florida locations The Boulder, Colo.-based natural retailer has plans to shut down 32 of its 39 stores. This news comes hot on the heels of Kroger's December announcement that it would be divesting its ownership share in the company. The natural and organic foods grocer was founded in 2003 by husband and wife Bo and Trish Sharon. Read more→ |
