Ganeden Drives Industry-First Entrepreneur Program for Food and Beverage Startups
10 Feb 2016 --- Ganeden has made history by launching Probiotic Innovation Jumpstart—an industry-first entrepreneurial program designed to share the secret to success, and provide $25,000 to help companies concept, develop, fund and launch new food and beverage products.
The global market of probiotic ingredients, supplements, and foods is expected to climb over the next five years to reach $36.7 billion in 2018, according to BCC Research. There is a high demand from consumers and a recent consumer study found:
• 70% of respondents would prefer to consume probiotics in a food or beverage product rather than in a supplement
•Among those who are aware of probiotics, 98% of respondents would buy a food or beverage product that contained a health benefit if priced the same as a similar product without health benefits
•40-54% of respondents were willing to pay more for products with probiotics in them
Judging will take place at the IFT show in Chicago on July 16, 2016. The presentations, to be done by two representatives from each company, will be judged by a panel of respected industry experts from both manufacturing and retail backgrounds.
The panel includes Mark Retzloff, a pioneer in the organic and natural foods industry, and Caroline Beckman, co-founder and CEO at Nomva. “This is a wonderful opportunity to help nurture our fantastic industry, and I am humbled to be a judge for Ganeden’s program,” said Mark Retzloff, senior partner for the Boulder Farm Team and chairman for multiple food and beverage boards. “I’ve personally watched products containing GanedenBC30 gain significant traction in the marketplace, and look forward to seeing the success that this program will bring.”
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