Domenico Zapata/staff
Fonterra targets the health and nutrition market as it seeks to increase the value of milk.
Fonterra’s quest for higher value offerings of New Zealand milk has led to the launch of new brands to tap into the growing wellbeing market.
The country’s largest dairy company has launched the Nutiani brand. This marks the use of the company’s intellectual property and research to help enterprise customers develop products in areas such as dietary supplements, sports nutrition, medical nutrition, and general health and wellness. increase.
“Fonterra’s deep expertise in nutritional science gives us an incredible advantage here,” said Komal Mistry Mehta, Chief Innovation and Brand Officer.
“We will use Fonterra’s existing expertise in nutritional science to develop targeted solutions while also opening opportunities for strategic partnerships and providing access to new markets and consumers. ”
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Ridet Institute
A study by the Lidett Institute found that plant-based “milk” beverages provide only a fraction of the nutrition cow’s milk provides and are more expensive.
As Fonterra seeks ways to increase profits in an environment where milk volume is no longer growing, it is stepping up spending on innovation and science to transition milk into higher value specialty nutritional products.
Co-operatives contribute to the US$66 billion (NZ$108 billion) global physical, mental and inner health nutrition market, growing at 6% annually, and the US$50 billion global market, growing at 5% annually. It targets the medical nutrition market. pace.
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Komal Mistry-Mehta, Fonterra’s chief innovation and brand officer, believes the health and nutrition market has “huge” potential.
Faced with increasing pressure to meet consumer demand and accelerate innovation pipelines, Fonterra’s customers were looking for partners to help identify and develop new products, according to Mistry-Mehta. .
Citing a Euromonitor survey, four in five consumers have become more health conscious since the Covid-19 pandemic, she said.
“There’s no question that people are paying more attention to their health and managing it through their diet,” she said.
Research shows that 96% of consumers actively manage their health, and more than half of them consciously manage their diet to improve their health, she said.
Fonterra expects North America, North Asia, China and Southeast Asia to be big markets for Nutiani, she said.
