Although the idea of nutraceuticals has been around since ancient times, renewed interest in the field has attracted considerable attention in the past decade. Healthier and more natural lifestyle trends have been at the epicenter of the nutraceutical renaissance due to their safe, naturally occurring, nutritional, and therapeutic benefits.
Indeed, a 2012 market research report projected that the worldwide nutraceuticals market would reach $250 billion by 2018. Nutraceuticals include dietary supplements (such as vitamins, minerals, whey protein, additives and more), functional foods and beverages, medicinal foods, and Farmaceuticals (including hemp and cannabis). With a multitude of products flooding the market, marketplace competition has intensified. However, many of the products entering the market are untested, with no data to support their, often grandiose, claims. Our consulting and advisory services provide a comprehensive, research-based point of view that is crucial for building business intelligence and overcoming market challenges. With their background rooted in science and a broad area of expertise, our team of consultants is well-suited to help foster effective decision-making in the nutraceutical space. Our consultants are highly passionate and committed to achieving client’s goals. With our experience and foresight Craft Science Inc. can identify new growth opportunities to help you expand your business successfully. Our team of seasoned professionals works collaboratively with your personnel in order to explore opportunities within various sectors of the industry and develop practical and attainable growth strategies.
Product research and development:
Proper due diligence is vital prior to investing into the development of a new product. Market demand, competition, cost, and barrier to entry must be carefully examined before any product development can ensue. Our team of consultants excels in marker research and can help you make an informed decision on the products most worthy of your investment, paving a path to success.
Market entry strategy:
Market entry is the crucial next step for any new product. The launch carries significant risk, and can often determine the fate of a product. Research insights can help form a clear picture of the market and provide tangible ideas for positive opportunities. Our market research expertise enable us to make recommendations for lowering risk and making informed decisions that will propel your company forward.
At Craft Science we believe that choosing the right strategic partners and collaborators can reduce cost, improve chances for success and help you leverage your resources. We can help you identify strategic partners and design agreements that would be mutually beneficial and increase top- and bottom-line growth.