(MENAFN- PR Newswire)
Ingredient Innovator Introduces Multi-Faceted Product Development Campaign to Empower Supplement, Food & Beverage Companies in Delivering Next-Gen Concepts and a Better Consumer Experience MORRISTOWN, N.J., Aug. 12, 2024 /PRNewswire/ -- At the 2024 Nutrition Business Journal Summit
in Rancho Palos Verdes, California, PLT health Solutions unveiled a business initiative designed to support what the company identifies as one of the major opportunities for its supplement, food and beverage customers: innovation. Called Differentiate DifferentTM, the initiative focuses on the range of resources that PLT has put in place to empower disruptive, experiential consumer product development, including gold standard clinical science, unique ingredient and formulation concepts, compelling consumer product messaging, and regulatory and sustainability expertise. At the NBJ Summit, PLT showcased product concepts and sponsored event activities that invited attendees to think differently about innovation, focusing on energy, exercise recovery and sleep quality.
Continue Reading
“The drive for product innovation is intense and global. A 2022 report by McKinsey stated that by 2026, more than 50% of global revenues would come from products and services that didn't exist then. At the Summit, Nutrition Business Journal reported that 38% of supplement consumers started taking supplements within the last two years."
For decades, PLT has been working alongside the product development teams of some of the world's leading consumer product companies. It starts with understanding their needs, goals and aspirations as part of the company's own ingredient development process and extends through the development of scientific validation and consumer messaging.
According to Devin Stagg, Chief Operating Officer for PLT Health Solutions, the company's efforts behind supporting consumer product innovation come from years of experience as a leading new product development support partner. "The drive for product innovation is intense and global. A 2022 report by McKinsey stated that by 2026, more than 50% of global revenues would come from products and services that didn't exist then. At the Summit, Nutrition Business Journal reported that 38% of supplement consumers started taking supplements within the last two years. At PLT, our goal is to support our customers with the tools to empower new product development," he said. In today's health and wellness market, we know these things: consumers read labels, they do the research, they value the promise of branded ingredients in their health and wellness products, and they want fast-acting, experiential, step-change solutions. Our new ingredient development process and the support services we provide are aimed at helping our customers deliver an experience to consumers and win in competitive markets," he added.
A reputation as a leading partner for consumer product development.
For decades, PLT has been working alongside the product development teams of some of the world's leading consumer product companies. It starts with understanding their needs, goals and aspirations as part of the company's own ingredient development process and extends through the development of scientific validation and consumer messaging. The company invests in people with specialized expertise in all phases of the consumer product development process. PLT's expertise has:
Powered the best-selling joint health brand in the world
Designed scientific studies and market messaging for some of the world's fastest growing weight management brands.
Participated in over
200 scientific studies
on natural ingredients supporting human health & wellness (with more than 20 studies in the R&D pipeline)
Created approaches that cut new product development time by a year
Advanced the cognitive health market with a portfolio of 8 ingredients addressing a broad range of needs, backed by clinical science
Guided and supported customers' regulatory efforts in over 30 countries
Conducted consumer research that has developed compelling new ways to differentiate products to gain or defend market share
Differentiate Different: Market-ready ingredients & technologies
According to Steve Fink, PLT's Vice President of Marketing, ingredients that don't meet standards for quality, scientific support, sustainability or compelling messaging aren't a solution at all. They can tie up resources and reduce speed-to-market. "PLT's goal is to deliver buttoned-up, ready-to-go ingredient solutions from Day One. Proof of identity, traceability, quality control, sustainability and scientifically substantiated efficacy are no longer just nice to have – they are must-haves," he said. "We want our customers to trust the way forward. Differentiate Different means that behind every ingredient solution at PLT is a narrative that our customers can leverage with consumers. We aim to build the pillars of that narrative from the ground up. We dig into origin stories, evolution and quality of the science, and tie in our ingredients' wider benefits such as ingredient identity, sustainability, purity, and quality so that by including us, our customers' products stand out and disrupt the market," he added.
For more information or to schedule an Innovation Seminar with
PLT, visit
.
About PLT Health Solutions
Headquartered in Morristown, NJ, USA, PLT Health Solutions is a trusted discoverer, developer, and marketer of high-quality, scientifically supported ingredients that enhance health and functionality. As a leading ingredients innovator, PLT's global network of strategic partnerships provides unique access to impactful solutions. By delivering an unsurpassed mix of expertise, resources, and service, PLT is committed to helping both its strategic partners and valued customers grow.