When making decisions for your next product launch, private label food supplements might not immediately come to mind. “Why should I choose a product with a predefined formulation when I can create my own?” may be a question that occurs. A finished product, developed in a premium, high-quality, and clinically supported segment for you to launch under your brand name comes with many benefits. What are they?
To understand the benefits of launching a private label food supplement product, we first need to clarify the term. A private label company in the food supplement industry usually performs the development of their own finished product formulations, manufactures the products, and provides them to a brand owner for them to market under their own brand. Unlike contract manufacturers, who only fabricate products according to their clients’ formulations, private label companies also develop the entire concept for the product and provide the research to accompany it. Unlike licensing companies, which only develop the product and sell the license to manufacture it, private label companies also do the manufacturing and provide finished goods to clients, without charging a licensing fee.
When thinking about private label many people conclude that the supplier’s portfolio consists of commodity-based me-too products. This is true for some cases, as many private label products still represent cheap, simple, and repetitive.
However, that is not the case with PharmaLinea. We provide clinically supported, premium-quality products, for companies that require added-value and differentiation from most of the market. We work in a private label segment designed to convince more demanding consumers and healthcare professionals.
Developing your own product takes time and time is of the essence. If you’re a brand owner, you want results quickly. You wish to start generating revenue as fast as possible in times of inflation and worldwide supply chain crisis. Rather than hearing “We have a project that requires 3 years of investments and research and we’re not sure about its success.”, you would likely prefer to hear “We have a project that can start generating revenue in 6 months and the product already has success cases from various markets.”
Furthermore, due to the fast-paced lifestyle of consumers, market trends can change rather quickly. For a product to succeed in the market it is therefore imperative that the launch happens before trends shift.
Launching an existing product can significantly shorten your time to market due to the 5 reasons below.
You do not need to waste precious time on research of physiological mechanisms, scanning the market for available ingredients and suppliers, evaluating the quality of the science, investigating current market trends, considering consumer preferences, all just to get to the theoretical product formulation.
Importantly, the latter can undergo several and significant changes during technical development. All of that has already been done by the private label company. The product already exists, and you can focus on what you do best – marketing and selling the finished product.
When addressing the market with a new product, stability is an important prerequisite. Consequently, stability studies, which can take years, need to be performed before launching the product. Due to PharmaLinea’s big focus on this part, you won’t have to waste much time testing the products yourself.
Clinical substantiation is slowly becoming more and more important for brands that wish to address consumers through pharmacists and doctors.
Launching a premium, clinically supported product can, therefore, bring some much-needed market differentiation and can be extremely valuable for your marketing strategy. Clinical research is performed on an increasing number of finished formulations in our portfolio. When launching such products, you will be able to promote them to healthcare specialists 6 months after your first order instead of investing in studies yourself and having to wait years for results.
In our business model, we provide clients globally with a set of developed and ready-to-launch products. We are encountering the same processes and challenges repeatedly when launching the same products all over the world, and we are consequently able to assist you through the entire process.
We have a dedicated team to support clients during registration procedures and they are collecting knowledge and best practices from previous cases to be able to consult new clients. Naturally, brand owner companies are the experts on their local regulatory environment, but the principles and obstacles are somewhat repetitive across markets and our experience can help expedite problem-solving.
If you select a private label product, that has already been launched under other brands in other markets, case studies of previous launches already exist.
That can make it easier for you to market the product, not to mention it can significantly decrease the amount you need to invest in marketing. The risk of a failed launch is much lower with products that have already been proven successful in other parts of the world.
When launching a new food supplement product, timing can be the determining factor of your success. Developing your own product can take years. In the era of fleeting trends that can mean two things: either your product will not be developed in time to catch the trend or somebody in your market will beat you with another product, addressing the same trend. Choosing to launch a private label food supplement, which is already developed, tested for stability, clinically researched and comes with launch data from other markets, significantly shortens your time to market. Consequently, private label products can be a way for you to be the first in your market to address the current trends and focus your energy on marketing the product rather than spending years developing one.
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