Virtual—The Natural Products Association (NPA) announced that the Big Natural (TBN), held virtually November 30-December 1, drew a record number attendees and the leading experts and regulators in the natural products industry.
“We did things differently this year, but we are very pleased with the way the event turned out,” said NPA President and CEO Daniel Fabricant, Ph.D., in a press release. “All the of the feedback has been positive, and once again we showed that The Big Natural is the premier event for the natural products industry.”
As WholeFoods previously reported, at the event members of the industry discussed the supply chain and considered what will happen post-pandemic. There was a sentiment echoed by experts across the conference: Dietary supplements are popular now. Steve Rosenman, SVP Corporate Development, Marketing & Innovation, at International Vitamin Corporation, discussed the state of the market in COVID-19 and the Supply Chain. He noted that immune supplements are causing overall industry growth—some supplements, he said, have grown 100%. 2020 total sales could work out to around $55 billion, which is $6 billion higher than 2019 and $3 billion higher than expected. He told attendees that industry experts expect a positive dollar impact from COVID for around 3 years, and for e-commerce to continue to be a major trend. Rosenman showed a chart supporting this, which portrayed immune supplement sales spiking in mid-March, followed by a slow leveling off to a level that was, nonetheless, higher than pre-COVID.
Rosenman noted that brick-and-mortar stores are helping customers make it through COVID-19, and are being rewarded with solid demand. Natural, Health, and Specialty channel share of vitamins rose 5%, outpacing conventional stores. Some ingredients face oversupply—he pointed to curcumin, which still faces strong consumer demand, but store closures and fewer shopping trips have limited consumers’ ability to actually get to the products, leading to an oversupply. Pricing is stable, he noted, as this is likely a temporary situation.
Other highlights of the event, as outlined in a press release:
The keynote address was delivered by UFC Heavyweight Champion Daniel Cormier, who spoke about how he stays healthy and fit in retirement.
- Representatives from GNC, Walmart, and NOW Foods highlighted the launching of SCCI.
- Probiotic industry leaders signaled frustrations with lack of guidance from the FDA
- State legislators and regulators discussed how they have provided a regulatory pathway for CBD at the state-level.
NPA members and non-members can purchase the full replay of the Big Natural and receive access to the entire program. Email firstname.lastname@example.org for information.