Bolton & Company’s Dietary Supplement Group attended the Natural Products ExpoWest 2018 event on March 8-11 last week. The event hosted over 3,200 exhibitors presenting on all manner of dietary supplements, sport nutrition products, nutraceuticals and fortified foods.
An event as large as ExpoWest makes it difficult to see all the new and exciting products available. However, here are some of our thoughts on recent trends in the Dietary Supplement market.
What’s Hot? High-Quality Natural Foods!
The first day of the event showcased a selection of new and relevant products. It quickly became apparent that many of the new businesses attending were focused on natural, organic and fortified food products. Bolton Executive Vice President Greg Doherty noted that the event has recently transitioned its focus from primarily dietary supplements to all manner of healthy foods and beverages. We’ll see if that trend continues through the other events in 2018.
What to Look For in 2018? Cannabidiol Products
It was clear Cannabidiol (CBD) was a hot topic and hot product of the trade show. Every aisle had a product (food, supplements, and cosmetics) that contained CBD. This ingredient has become a differentiator for many supplement businesses and continues to grow in popularity with the public. However, the status of liability insurance for CBD products is another story. As a standard ingredient on most carriers exclusion lists, only a small number of insurers (three or less on a good day) will insure CBD.
If you have started selling CBD products, have you asked your insurance company if their intent is to cover your CBD products? You might be unpleasantly surprised to hear the answer.
In our business, much of it is done via telephone and email. These industry events allow us all to come together and socialize in a face-to-face environment. It was great to see many of our valued clients flourishing at ExpoWest 2018. Additionally, It was great to participate in various events hosted by the American Herbal Products Association (AHPA) as they are a key contributor to the industry.
For more information about common dietary supplement insurance issues, check out our resource page. If you have further questions, please feel free to reach out to me or Greg Doherty at the Bolton Dietary Supplement Group at 626.535.1459.
Bolton is sponsoring the Natural Products Association’s Big Natural Conference in Las Vegas June 6-7, 2018.
If you haven’t already, you can sign up here. Remember to use our discount code “BC10”.
If you liked this, check out these great articles:
- Availability of CBD Liability Insurance (and Actual Coverage) is Often Scarce
- Tips & Tricks for Walking the Insurance Application Minefield
- CBD Insurance: It’s Available, But It’s Scarce
- Cybercrime and the Nutraceuticals Market: How to Protect your Online Dietary Supplement Business
- What Are Your Risks with Online Supplement Sales?