There's certainly no lack of opportunity in the natural products industry right now. Perhaps the challenge for companies when it comes to developing new products is that there's too much opportunity.
Designed as a way to help natural product companies prioritize opportunities, demonstrate the product potential to retailers and investors, and focus their marketing and messaging, New Hope Network developed the NEXT Concept Lab. It's a tool that tests early-stage product concepts among 1,000 mainstream consumers to measure the probability of success and consumer purchase intent. With 900 natural and organic products tested over the past three years, the Concept Lab database provides benchmarks and is a powerful tool for exploring and analyzing industry trends.
At Natural Products Expo West 2016, Eric Pierce, director of business insights at New Hope, highlighted the five top-performing trends. These are trends that were born in the natural products industry but resonate strongly with mainstream consumers.
- Mission-based brands
- Gut health (prebiotics/probiotics)
- Local sourcing
- Hidden veggies
Watch the presentation above for more details on each one and a look at overarching macro trends.