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Nutrition companies embracing new technology, survey shows

Almost two thirds of nutrition companies are implementing new forms of technology, with around half increasing their R&D spend this year, new research has shown.

Exhibitors and visitors attending this month’s Vitafoods Europe event (9-11 May, Palexpo, Geneva) were polled by the organizers about six new forms of technology.

  • Around a third (32%) of the 192 respondents said their companies have implemented, or are planning to implement, new product testing technologies.
  • Nearly a quarter (23%) are introducing smart packaging.
  • One in five (21%) is exploring new tracing technologies such as QR codes on packaging
  • 17% have created or will create smartphone apps.

Less common forms of technology being used include 3D printing (6%) and geolocation technology (2%).  Only 36% said they were not using any of the technologies on the list.

Commenting on the findings, Chris Lee, managing director, Global Health and Nutrition Network, Europe, Informa Exhibitions said:  “New technology is revolutionising the way nutrition companies do business. Digital technology has created increasingly sophisticated ways for companies to build relationships with consumers. Meanwhile, companies are developing new ways of testing, tracing, and packaging their products.

Meanwhile, almost half the companies surveyed are planning to increase their R&D spend. Forty-seven per cent said they were planning to spend more on research and development projects this year than last year. Only 6% said their companies would spend less.  One in four (24%) said their companies would spend 25% or more of their sales on R&D projects, with one in ten (10%) saying they would spend 50% or more.

 

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About the Author

Jim Manson

Writer & Editor

Jim Manson is editor-in-chief of Diversified Communications UK‘s natural and organic publishing portfolio. He’s written widely on environment and development issues for specialist magazines and national media, including the Financial Times, The Guardian, The Times, and World Bank Urban Age

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