Innovating in a £30bn market – how to cut through in a competitive landscape

As a founder specialising in consumer facing products, the pressure to keep up with market trends and to retain consumer attention is ever-present.

Innovating in a £30bn market – how to cut through in a competitive landscape

Operating in one of the UK’s most competitive industries with a growth trajectory of 10% YoY, that pressure is at times, all encompassing.

The UK wellness industry remains one of the most competitive, estimated to hit £30.6 billion this year alone. Our country’s impressive start up culture encourages new players into the market daily – a positive trend which gives consumers variety and the ability to make decisions based on their individual preferences and goals. This constant introduction of new players, while perhaps daunting, also encourages entrepreneurial innovation within established companies. 

While at times, this can feel like you’re constantly chasing your tail, in practice, it creates a culture which must prioritise agility and problem solving while putting best quality forward. A win for both business and consumer, without a doubt.

The evolution of wellness

The traditional concept of wellness, which primarily focused on physical health, has given way to a more holistic approach encompassing mental, emotional, and social wellbeing in recent years. As consumers become increasingly aware of the interconnectedness of these elements, the demand for innovative solutions has never been more pressing. It is no longer sufficient to offer conventional products or services; we must continually challenge ourselves to bring novel ideas to the table.

One of the most crucial aspects of innovation in the wellness industry is staying ahead of the curve in terms of technology integration. The digital revolution has dramatically transformed how people engage with wellness products and services, meaning that technology has become an indispensable tool in enhancing the wellness experience. 

Nourished specialises in 3D printing personalised nutrient gummies, born out of a desire to make taking vitamins more convenient and enjoyable – and most importantly, bespoke to each consumer. As a core strand of our activity, we believe that of all things we personalise, our health and wellness should come first, and our technological capability provides us with that proficiency.

By developing our technology in house, we produced the first FDA/FSA compliant full stack 3D printer systems for consumables with less waste, using only renewable resources, giving better quality control and ten times higher traceability governance. While this remains our bread and butter, we know that these are just foundational aspects of our business; for our consumers, the product outcome is the important part.

Technology creates efficiency 

Because we’ve developed our own technology, the products our consumers are looking for can be created at pace, introducing new ingredient options in as little as ten days, and new product creation in less than three weeks. This pace allows us to incorporate market trends and customer feedback in rapid time.  

Three and a half years since the company was founded, we’ve just launched our newest product, in response to a significant new market trend: our Collagen+ range. The collagen market is growing rapidly at a palpable rate of 6.19% YoY, with 28 different types and products ranging from food additives to beauty products. To ignore the frenzy around it is, in my eyes, an opportunity missed. Utilising our owned technology and with innovation front and centre, we’ve brought an unprecedented twist to traditional collagen supplements, with five different formulations created to target collagen production and wider lifestyle goals, all created with the brand’s patented 3D printing tech. 

We’ve created a foundation of proficiency and always have our fingers on the pulse for the next best thing for our ever-evolving consumer. However, fostering a culture of innovation is not without its challenges and it would be remiss to suggest that running a consumer facing business is all about the “next best thing”.

Balancing change with long-held practices

Embracing change can be daunting, especially when it challenges long-held beliefs and practices and asks you to make changes to your business’s initial core product or offering. However, as leaders within the wellness industry, we must instil a growth mindset within our organisations, encourage experimentation, risk-taking, and continuous learning. Investing in research and development is vital to uncovering novel solutions that can drive the industry forward.

Currently, the wellness industry stands at a critical juncture where innovation is not merely an option but a necessity. To remain relevant and competitive, we must be willing to challenge convention, integrate technology, personalise experiences, and continually be analysing market trends. The future of wellness lies in our ability to think beyond the present.

Melissa Snover
Melissa Snover

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