Microbiome innovation will influence trilion-dollar markets across multiple industries. Organisations are recognising the potential of this new frontier for innovation, make sure you do too!
The scope of the microbiome opportunity is huge, from skincare and drugs to nutrition and animal health - for companies with products that have an impact on health & wellbeing, it's very likely innovation from microbiome research can positively impact your customers.
We've identified the top 3 reasons why your company should be investing in microbiome:
1. Cross-industry consumer demand for organic, natural, more sustainable products
The latest trends across food, cosmetics and medicines reveal health-conscious consumers favour 'clean', organic products and are willing to pay a premium to avoid being exposed to unnatural ingredients. The largest growth category within consumer goods has been niche premium brands offering natural products - notable investments and acquisitions from larger brands suggest that they recognise this is a long-term shift in market behaviour.
Companies have the opportunity to align their products to this shift by innovating with natural ingredients and formulations that improve human and animal microbiome health. This clean approach can also be applied throughout the supply chain, for example, agricultural companies can drastically reduce negative environmental impact by replacing traditional chemical stimulants with microbes.
2. Change is happening - be at the forefront
The way consumers choose and purchase goods has fundamentally changed; online stores, social networks and influencers now offer a global audience access to a vast range of products. This has contributed to an increasingly competitive and diverse market in which smaller, specialist products are able to challenge the established brands - therefore differentiation is essential for a product to survive.
Microbiome is currently a largely untapped frontier for innovation (although investment and research is increasing rapidly) and so provides companies with the opportunity to find new discoveries in both new and existing product areas, which ultimately leads to competitive advantage and greatly improves the likelihood of commercial success.
3. It's highly likely microbiome will impact your industry
Companies in multiple consumer goods categories including cosmetics, food, agriculture and personal care have already begun investing seriously in microbiome. The potential is not only in ensuring the efficacy of products by understanding their effect on the microbiome, but also in increasing product benefits - for example by using bacteria to improve flavour, improve wellbeing or increase agricultural yield.
Another compelling case for investment in microbiome research is product safety. Companies can mitigate risk to customers and brand reputation by ensuring harmful bacteria is identified and eliminated throughout development, manufacturing and storage, as well as understand the balance of 'good' bacteria that will successfully promote a healthy microbiome without causing harm.