As we enter 2024, its apparent that our industry continues to be impacted by events out of our control. The War in Ukraine has slowed the European Union’s economy and the Russian market has been abandoned by many companies. The true disruption in the world’s economy is not yet fully understood. Besides these macro market conditions, another noticeable issue for our industry is random spot shortages of ingredients that historically were freely available. It is critical for the Brand Owner and CDMO to work closely on both existing and new formulas to ensure there are reliable raw material sources.
