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Key factors when going to market: A multi-perspective study of a novel oat-based compound's potential to go to market

Andréasson, Axel LU and Myhrman, Linda LU (2021) KETM05 20211
Chemical Engineering (M.Sc.Eng.)
Abstract (Swedish)
En allt mer åldrande befolkning och ett större fokus på att hålla sig frisk har lett till ett ökat intresse för naturbaserade produkter som ger lugnande och hälsofrämjande effekter som lätt kan inkorporeras i människors vardag. En molekyl som är intressant för sådana applikationer är avenantramider (AVN): en havrebaserad förening som har uppvisat antioxidativ kapacitet och anti-klåda, antiinflammatoriska och antiproliferativa effekter. Detta är en relativt nyupptäckt molekyl som ännu inte är kommersiellt utbredd, vilket ger stora möjligheter för ett företag som har utvecklat havre med högt AVN-innehåll att kommersialisera detta. Detta examensarbete undersökte AVNs potential att ”go to market” och deras position relaterad till teknik,... (More)
En allt mer åldrande befolkning och ett större fokus på att hålla sig frisk har lett till ett ökat intresse för naturbaserade produkter som ger lugnande och hälsofrämjande effekter som lätt kan inkorporeras i människors vardag. En molekyl som är intressant för sådana applikationer är avenantramider (AVN): en havrebaserad förening som har uppvisat antioxidativ kapacitet och anti-klåda, antiinflammatoriska och antiproliferativa effekter. Detta är en relativt nyupptäckt molekyl som ännu inte är kommersiellt utbredd, vilket ger stora möjligheter för ett företag som har utvecklat havre med högt AVN-innehåll att kommersialisera detta. Detta examensarbete undersökte AVNs potential att ”go to market” och deras position relaterad till teknik, marknad och företagets förmåga att ”go to market”. För att ytterligare förstå denna komplexa process utvecklades ett teoretiskt ramverk. En experimentell del, intervjuer med experter inom branschen och en företagsutvärdering genomfördes för att beskriva, förklara och förstå AVNs potential. Experimenten indikerade att tillsats av ett stimulerande ämne kunde öka AVN-koncentrationen 13 gånger till 450 ppm, vilket potentiellt möjliggör ett genomförbart sätt att producera havre med högt AVN-innehåll. Utifrån marknadsanalysen kunde en slutsats dras om att marknaden som fokuserar på anti-klåda produkter hade mest potential för AVN. Denna slutsats drogs utifrån att man kunde kommunicera hälsofördelarna till kunderna samt att AVN har naturliga anti-klåda effekter som kan möta kundernas behov. Företaget rekommenderades att hitta en ”engagerad person” inom företaget som kunde vidareutveckla denna process för att ”go to market” med AVN och se till att företaget klarar av de kritiska stadierna som uppstår när man går till marknaden. (Less)
Abstract
As populations grow older and more focus is put on feeling and looking healthy, interest has grown in nature-based products providing soothing, replenishing, and health beneficial effects that can easily be incorporated into people’s everyday lives. A compound interesting for such applications is avenanthramides (AVN): an oat-based compound that has been shown to exhibit antioxidant capacity and anti-itching, anti-inflammatory, and anti-proliferate effects. This is a novel compound and not yet commercially widespread, which gives significant potential opportunities for a company that has developed high AVN content oats to commercialize. This thesis explored the potential of AVN to go to market and their position related to technology,... (More)
As populations grow older and more focus is put on feeling and looking healthy, interest has grown in nature-based products providing soothing, replenishing, and health beneficial effects that can easily be incorporated into people’s everyday lives. A compound interesting for such applications is avenanthramides (AVN): an oat-based compound that has been shown to exhibit antioxidant capacity and anti-itching, anti-inflammatory, and anti-proliferate effects. This is a novel compound and not yet commercially widespread, which gives significant potential opportunities for a company that has developed high AVN content oats to commercialize. This thesis explored the potential of AVN to go to market and their position related to technology, market, and the company’s capabilities to bring them to market. To further understand this complex process, a theoretical framework was developed. An experimental part, interviews with experts in the industry, and a company evaluation were performed to understand, explore, and explain avenanthramides' potential. The experiments indicated that adding a stimulant could increase the AVN concentration 13-fold to 450 ppm, potentially enabling a viable way to produce high AVN-content oats. The market analysis concluded that the cosmeceutical market, primarily the anti-itch market, had the most significant potential because it enabled communicating the health benefits to the customer. Apart from communication, AVNs could also meet the needs of this market with their anti-itch properties. The company was advised to find a committed person who could further develop this process of going to market with AVNs and ensure that the critical junctures arising when going to the market were overcome. (Less)
Popular Abstract
With a growing elderly population in Europe and an increasing interest in a healthy lifestyle, the market for natural ingredients with health benefits has exploded, both for skincare and food. This has opened up the doors for new, exciting plant-derived ingredients that can meet these needs in the skincare and food markets. But, what is the potential for a new, exciting plant-derived ingredient on the European market? And what requirements have to be fulfilled to put it on the market successfully?
Avenanthramides (AVN) are a group of health beneficial oat compounds with anti-oxidative, anti-inflammation and anti-itch effects. There is currently only one company in the global sector that has commercialised this exciting ingredient. This... (More)
With a growing elderly population in Europe and an increasing interest in a healthy lifestyle, the market for natural ingredients with health benefits has exploded, both for skincare and food. This has opened up the doors for new, exciting plant-derived ingredients that can meet these needs in the skincare and food markets. But, what is the potential for a new, exciting plant-derived ingredient on the European market? And what requirements have to be fulfilled to put it on the market successfully?
Avenanthramides (AVN) are a group of health beneficial oat compounds with anti-oxidative, anti-inflammation and anti-itch effects. There is currently only one company in the global sector that has commercialised this exciting ingredient. This opens up great potential for the oat company CropTailor, which specialises in designing oats with specific properties such as high AVN content to commercialise it. However, to enable the company’s commitment to commercialise AVNs, the market potential and the company capabilities to go to market must be explored and understood.

Promising results came from exploring potential markets and the company capabilities. It was found that the AVN content could be increased by adding external stress on the oats. This could make it easier to get high AVN content to meet the market needs and enable commercialisation. The skincare market, especially the anti-itch market, was determined to be the most promising market for AVNs because of their anti-itch & anti-inflammatory properties that could help many people with eczema, sunburn and similar conditions. Even though oats are currently being used in anti-itch products on the European market, there is currently no product that markets itself with AVNs. Therefore, if the AVNs are communicated with their exceptional anti-itch properties, they could potentially disrupt this market. They also have a competitive advantage due to being natural, plant-derived anti-itch ingredients that originate from University research in Sweden, meeting many of the requirements set by European customers. The company evaluated for this project, CropTailor, has expertise in tailoring oats with specific properties (like high AVN concentration). However, they do not have expertise in putting a product on the market. Because of this, they are advised to sell their extract to an ingredient company that could, in turn, sell it to an anti-itch cosmetic company. Furthermore, it was also recommended to find a “committed person” who could push forward through uncertainties and confidently continue leading the project to market.
Apart from gaining knowledge about AVNs, this thesis developed a theoretical framework that highlighted the relationship between the technology, market, and company capabilities and the key factors within these three areas when going to market. (Less)
Please use this url to cite or link to this publication:
author
Andréasson, Axel LU and Myhrman, Linda LU
supervisor
organization
course
KETM05 20211
year
type
H2 - Master's Degree (Two Years)
subject
keywords
Go-to-market, Avenanthramide, Technology, Market, Company capabilities, Nutraceutical, Cosmeceutical, Chemical engineering
language
English
id
9054203
date added to LUP
2021-06-15 13:45:10
date last changed
2021-06-15 13:45:10
@misc{9054203,
  abstract     = {{As populations grow older and more focus is put on feeling and looking healthy, interest has grown in nature-based products providing soothing, replenishing, and health beneficial effects that can easily be incorporated into people’s everyday lives. A compound interesting for such applications is avenanthramides (AVN): an oat-based compound that has been shown to exhibit antioxidant capacity and anti-itching, anti-inflammatory, and anti-proliferate effects. This is a novel compound and not yet commercially widespread, which gives significant potential opportunities for a company that has developed high AVN content oats to commercialize. This thesis explored the potential of AVN to go to market and their position related to technology, market, and the company’s capabilities to bring them to market. To further understand this complex process, a theoretical framework was developed. An experimental part, interviews with experts in the industry, and a company evaluation were performed to understand, explore, and explain avenanthramides' potential. The experiments indicated that adding a stimulant could increase the AVN concentration 13-fold to 450 ppm, potentially enabling a viable way to produce high AVN-content oats. The market analysis concluded that the cosmeceutical market, primarily the anti-itch market, had the most significant potential because it enabled communicating the health benefits to the customer. Apart from communication, AVNs could also meet the needs of this market with their anti-itch properties. The company was advised to find a committed person who could further develop this process of going to market with AVNs and ensure that the critical junctures arising when going to the market were overcome.}},
  author       = {{Andréasson, Axel and Myhrman, Linda}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Key factors when going to market: A multi-perspective study of a novel oat-based compound's potential to go to market}},
  year         = {{2021}},
}