Probiotics are having an eventful 2016 so far—its claimed benefits were deemed scientifically shaky in an article in Stat News (to which the IPA responded with a challenge), but there continues to be growth in the sector, and it seems like probiotics are winning the favor of regulators around the world.
In this environment, innovative ideas using probiotics are emerging (there’s a coffee product on the market touting its probiotic content), and Ohio-based Ganeden, probiotic manufacturer and patent owner of the Bacillus coagulans strain marketed as Ganeden BC30, wants to make sure innovations continue to appear.
Earlier this week, the company announced their Probiotic Innovation Jumpstart, which they called “an industry-first entrepreneurial program designed to help companies launch new probiotic products,” in a press release.
The program
According to a press release, the program is open to all scientists, entrepreneurs, and inventors to submit their idea to Ganeden. Especially novel products “that will resonate with consumers and fill a specific need in the marketplace” are encouraged.
“The grand-prize winner will receive $25,000 in support to utilize Ganeden BC30 probiotics in the product, as well as the guidance, assistance, and expertise needed to help develop and launch their innovation into the food and beverage industry,” the press release said.
Ideas must be submitted by May 6, 2016, on the Probiotic Innovation Jumpstart website. “Three finalists will then be chosen to present their ideas in-person to a panel of esteemed judges during the Institute of Food Technologists (IFT) show in Chicago on July 16, 2016,” the company said.
The right time
"Food and beverages with probiotics are considered cutting edge, with increasing demand from consumers. We have seen a tremendous spike, domestically and internationally, in companies wanting to become involved in this trend," Andy Lefkowitz, CEO of Ganeden, told FoodNavigator-USA.
"70% of consumers are familiar with the term probiotic and relate the term to a health benefit," he said, adding that "over 75% of products launched with BC30 are still on the shelf after two years, versus just 15% for CPG launches generally which is a testament to the quality of companies that are innovating with our probiotic, and the products they produce."
Growth in the category
“Ganeden’s growth and success has been accomplished by helping hundreds of forward-thinking companies around the world develop and market innovative, first-of-their-kind probiotic products,” Lefkowitz said. “The future of the food and beverage market is functional foods, and we see this program as a huge opportunity to share our expertise and support the industry by helping others bring their ideas to life and onto shelves.”
Citing BCC market research data, a Ganeden press release said that the global market of “probiotic ingredients, supplements, and foods is expected to climb over the next five years to reach $36.7 billion in 2018.”
"Proof of this is that we have already received more than five applications in the 48 hours after the program was announced," Lefkowitz added.