2024 Healthcare, Consumer & Wellness Magazine

Healthcare, Consumer &Wellness • 19 Ingredients such as turmeric and flaxseed are being added to fortify immune systems and reduce inflammation, one of the modern world’s biggest killers. Probiotics are being included to bolster gut health by diversifying the colonies of beneficial bacteria living inside us; collagen to support anti-aging by strengthening skin, bones and joints; and mood enhancers like ashwagandha and ginger to improve mental wellbeing and sleep. Then there is the growing awareness of just how many people have food intolerances, allergies or autoimmune conditions like celiac, whereby the immune system mistakes proteins found in gluten as a threat to the body and attacks the small intestine, disrupting food and nutrient absorption. According to the Autoimmune Association, 50 million Americans are affected by an autoimmune disease and a further eight million have auto- antibodies in their blood, which put them at risk of developing one. The numbers of autoimmune condition diagnoses are growing across all advanced economies, with research linking foods such as gluten and dairy, plus industrial food processing, as key reasons why. This was the motivating factor for Gail Becker, a mother of two sons with celiac disease. In 2016, she left corporate America to create Health: the focus for F&BR&D From the largest multinationals to the latest start-ups, clean eating and health-boosting ingredients are proving a profitable recipe for success. There’s a clear trend towards less ingredients, clear labeling and the production of scientific research to back up claims of nutritional product value” Whether it is probiotics in chocolate or anti-aging collagen in RTD (ready-to-drink) beverages, consumers are increasingly turning to products that are not only delicious but also healthy. As a trend, this began before Covid-19, accelerated sharply during it and is now very firmly here to stay. “Covid was a real turning point,” says Timicka Anderson, Global Consumer & Retail Industry Head for Citi Commercial Bank. “Initially, there weren’t any known therapeutics to combat the virus, so many of us turned to self-help instead, looking at what we were eating to boost our resilience and immune systems.” And the momentum has continued ever since, underpinned by a growing body of research shining a light on the damaging long-term consequences of consuming ultra-processed foods. F&B companies have taken note; enhancing everyday products and developing new ones with health-boosting properties. 50 million Americans living with an autoimmune disease As food and beverage companies navigate changing consumer preferences amid an increasingly complex macro environment, supply chain resilience is a key priority for a company’s operational success. Alongside the physical supply chain, treasury plays a key role in ensuring a robust and efficient financial supply chain. With Citi’s sector expertise and global network, we can partner with our clients to help themmeet their commercial and treasury goals. CAULIPOWER, a company that aims to make healthier food more accessible to all. Today, the company makes America’s #1 cauliflower crust pizza. “I wanted to reinvent comfort foods and ready meals for people who are looking for healthier and convenient options without sacrificing taste,” she says. “Our mission is to create America’s favorite foods that aren’t laden with sugar, salt, artificial flavors and preservatives, taste amazing and happen to be gluten-free.” The company’s products include Cauliflower Crust Pizzas, Pizza Bites and Breaded Chicken made from all- natural, antibiotic-free meat coated in cauliflower and chickpea flours. Bayo Gbowu, Global Trade Sales Lead for Healthcare, Consumer &Wellness, Citi Treasury and Trade Solutions (TTS) says that consumers are becoming far more discerning. “It’s not enough to just remove the gluten or dairy anymore,” he explains. “Consumers want equivalent products that taste just as good as what they were eating before they had to give them up.” They also want a better understanding of where their food comes from and how many artificial ingredients are in it. “There’s a clear trend towards less ingredients, clear labeling and the production of scientific research to back up claims of nutritional product value,” Gbowu adds. Right now, consumers rely on looking at ingredient lists when they pick up food products in their grocery stores. In the future, electronic scanners will enable them to see exactly where their food has come from and how it got there. This will even include details such as what the cow they are planning to eat was fed on. Blockchain is the driving technology facilitating this farm-to-fork traceability since it requires the documentation and monitoring of each stage of a supply chain. Spice and flavor giant McCormick & Co is one such company putting farm-to- fork traceability in place. In Vietnam, for example, it is working with Citi and IFC to create a sustainable, traceable, certified and quality-compliant pepper supply chain. Its suppliers are also being financially incentivized to improve sustainability and sourcing standards. In addition to helping McCormick & Co meet its sustainability goals, the program ultimately provides the end consumer with transparency about what is in their shopping basket and where it has come from. Citi’s Anderson notes that it is not just ‘high-end’ consumers who are willing to pay up for detailed information and health-giving attributes. “It’s particularly prevalent among large swathes of the newest consumers coming onto the market – Generation Z,” she concludes. “They’re voting with their dollars.” 18