The nutraceuticals market has been on the rise for the past few years with companies contracting with social media influencers to endorse the use of products that promise various health benefits, like weight loss, anti-aging or hair growth, on Instagram, Facebook and TikTok. But first, what are nutraceuticals? Ranging from teas to protein powders to gummies and beyond, nutraceuticals are commonly defined as substances or products that are derived from food and sold in either medicinal or foodstuff forms and provide medical or health benefits.
In the United States alone, the nutraceuticals market is expected to reach $599.71 billion by 2030, according to Grand View Research. Social media has been one of the primary catalysts for growth in this sector with many companies capitalizing on social media influencers to provide authentic marketing for their products. However, the lack of oversight and control often associated with influencer content can pose serious risks for companies looking to promote nutraceuticals via social media.
As the market continues to grow, federal agencies including the U.S. Food and Drug Administration (FDA) and the Federal Trade Commission (FTC) have become more engaged in establishing regulations surrounding the marketing of the health benefits of nutraceuticals.
This subject was further explored by Michele Fields, vice president and senior claim consultant at Conner Strong & Buckelew, in collaboration with Angela L. Angotti, partner at Bowman and Brooke, in an article published in the Food and Drug Law Journal. The piece dives into:
Fields and Angotti outline the critical need for proper mitigation and compliance strategies when it comes to marketing nutraceuticals on social media and how companies can ensure they are protected in the current regulatory environment.
Click here to read the full article in Food and Drug Law Journal.
Shared with the permission of FDLI.
Vice President, Senior Claim Consultant