Outlook on the Nutraceuticals Sector for 2024-2025
We sought insights from industry experts deeply versed in marketplace dynamics to discuss significant trends and developments in business, regulation, science, and the market that the industry should focus on in the upcoming year. Their insights span a range of issues, highlighting common themes such as state regulations, global supply chain strategies, women’s health, and more.
Michael McGuffin, President of the American Herbal Products Association (AHPA), noted that 2024 brought considerable external pressures on the industry from both state and federal critics who often confuse legal, safe dietary supplements with illegal products. He emphasized the importance of industry unity to capitalize on the opportunities the new political landscape offers, including distinguishing dietary supplements from less regulated products. AHPA plans to promote new legislative language to help the FDA better regulate and protect consumers from deceptive products masquerading as dietary supplements.
Duffy MacKay, Senior VP of Dietary Supplements at the Consumer Healthcare Products Association (CHPA), reflected on the FDA’s ongoing concerns about supplements containing hidden or deceptive ingredients, often marketed for weight loss, sexual enhancement, and bodybuilding. He recounted significant regulatory actions, including a 2015 investigation by the New York State Attorney General into fraudulent supplements, which led to increased retailer-led regulations.
Steve Mister, President and CEO of the Council for Responsible Nutrition (CRN), discussed the Dietary Supplement Health and Education Act (DSHEA), which has been pivotal for the industry since its inception nearly 30 years ago. He argued against sweeping reforms, advocating instead for targeted adjustments to enhance FDA enforcement and improve transparency, aligning oversight with market growth.
Karen Howard, CEO and Executive Director of the Organic & Natural Health Association, highlighted the organization’s focus on integrity, access, and innovation in regulatory, business, and scientific areas. She discussed efforts to improve product testing and transparency, particularly concerning products derived using synthetic biology.
Loren Israelsen, President of the United Natural Products Alliance (UNPA), discussed the significant changes and debates within the industry and public sphere, particularly in light of political shifts and regulatory changes like the end of the Chevron Doctrine, which affects judicial deference to government agencies.
Jim Emme, CEO of NOW Health Group, shared insights on the company’s growth and the challenges in the supply chain and regulatory environments. He highlighted the ongoing issues with substandard products on platforms like Amazon and the state-level regulatory threats to consumer choice.
Karen E. Todd, Vice President of Global Brand Marketing at Kyowa Hakko USA, emphasized the shift in consumer preferences towards scientifically validated branded ingredients over generics, driven by a demand for transparency and quality.
Shaheen Majeed, Global CEO & Managing Director of Sabinsa Corporation, discussed the importance of pesticide testing in global markets and the need for diversity in clinical research to address regional health needs and variations.
These insights collectively underscore the dynamic challenges and opportunities within the industry, emphasizing the need for strategic collaboration, regulatory vigilance, and continuous innovation to navigate the complexities of the market and regulatory landscapes.