Owing to the awareness of health benefits and natural supplements, the Nutraceutical industry is expanding day by day. The manufacturing process of nutraceuticals involves several aspects such as functional food, dietary supplements, and herbal products. With the development of nutraceuticals, there are a plethora of challenges that these industries have to face.
These challenges hinder manufacturing efficiency, product quality, and regulatory compliance. This blog will scrutinize What are the challenges in Nutraceutical Industry that manufacturers and others in this market have to face.
Have a look at What are the challenges in Nutraceutical Industry
Nowadays, individuals have hectic schedules and they do numerous things to maintain their health. They search for those medications that give them nutritional values and other essential vitamins. So, nutraceuticals have solutions for them and manufacture healthy and well nutritional medicines for its customers. But, during production, they have to tackle some regulations. The upcoming paragraphs will define What are the challenges in Nutraceutical Industry.
Shelf life Management
Due to the nature of these products, managing the shelf-life of products is a challenging task for the nutraceutical industry. These products contain vitamins, minerals, and other active ingredients that degrade over time. These products are manufactured with the expiry dates and after expiring the nutraceuticals have to face financial losses as well as potential legal issues.
Improper handling of products with shorter shelf-life leads to maximized waste and disposal costs.
Less standardization
It is a complicated procedure for the approval of nutraceutical products. Some individuals find them nutritional supplements whereas others classify these as drugs. Companies who want to sell them globally must have to stick with regulatory standards.
Meet Safety Standards
It is crucial for any nutraceutical industry to comply with safety standards. So, these supplements do not pose any severe side effects to consumers. Furthermore, it is difficult to provide safety for any new nutraceutical ingredients, and this complex process involves rigorous testing as well as is time-consuming and costly.
Proper Labeling
Companies have to mention accurate information about the nutraceutical product because overpromising can adversely effect the brand reputation and could lead to lawsuits. So, it is also challenging for organizations that label their products without misleading them.
Variations in Raw Materials
The ingredients of nutraceuticals vary from one product to another and these all require different soil conditions, agriculture practices, and many more. So, maintaining consistency in formulations is difficult for the organization.
Supply chain Disruption
International supply chain hurdles affect adversely may lead to less production of nutraceuticals and delay in the delivery of these products. This may reduce the value of the brand and the company has to face a shortage of raw materials as well.
Avoid Misinformation
There are several organizations that mislead customer to buy their products and they make it difficult for other genuine products to stand out. Companies always have to present all the information accurately and wisely on each platform to build trust and reliability.
Lack of Reliable Research
Organizations have to research and develop each and every product properly. Less and incomplete information can adversely affect both brands as well as customers. So, nutraceutical finds challenging to research any product.
More R&D Cost
Accurate and full research and development require high costs. It is difficult for small organizations to manage these expenses and this also makes medication more expensive for individuals.
Comply with the Changing Market
Companies always have to update themselves with fast-paced market changes. For this, nutraceutical industries continuously follow trends, technologies, and techniques, and do more innovation. It also leads to shorter shelf-life of products.
Transparency
Customers expect transparency from organizations whenever they buy their products. Companies that provide proper information about their products as well as company, they attract more customers as compared to those who provide unclear and false information. This information includes testing, benefits, side effects, production, and sourcing.
Pricing pressure
Due to the competition, organizations have to lower their price to compete which reduces their profit margin. So, balancing affordability as well as excellent quality is the thing companies struggle to walk.
Conclusion
There are multifarious hurdles that nutraceutical industries have to face and are crucial for the organization to become reliable and trusted. They have to present accurate information, do proper research, educate their employees, keep themselves updated with changing technologies, and so on. All these challenges play a crucial role in the nutraceutical industry to make their true identity in the global market. This blog properly defined What are the challenges in Nutraceutical Industry.
