The Establishment of the National Nutraceutical Industry (NNI)
With a mandate from the Prime Minister to develop a national industry, the essence of which is to embrace the cultural science and technology surrounding our healing plants and waters. The industry was launch on March 5,2015 at the Hope Gardens creating history as a ground break towards the incorporation of the economic growth and development for Jamaica.
The main objectives for the development of the Nutraceutical Industry includes:
- Development of a framework responsible for regulating and monitoring of people,products and facilities
- Bring under one umbrella practitioners and support agencies in a manner that is systematic and coordinated.
- Amend the Food and Drug Act under the Ministry of Health to incorporate the classification and registration of nutraceutical products.
- Build media interest to educate the public and healthcare practitioners of products and trade market impact.
- Build consumer confidence in these products through the promotion of research and development standardization.
- Expand the market locally and also to gain a great share of the international global markets.
- Production of value-added products.
- Lay the scientific/medical and social ground work to facilitate this emerging and expanding market.
Launch of the National Nutraceutical Industry March 5, 2015
Q and A
1. What does the launch of the National Nutraceutical Industry mean for Jamaica?
The launch of the Nutraceutical Industry is the development of a framework responsible for regulating and monitoring of people, products and facilities, bringing under one umbrella practitioners and support agencies in a manner that is systematic and coordinated for a sustainable industry. Amendments to the Food and Drug Act under the Ministry of Health has incorporated the classification and registering of nutraceutical products that set the industry aligned to international standards.
2. What are the main objectives for this Industry?
The main objectives of the Industry are:
1. To develop nutraceuticals to support medical and health claims for food production while building consumer confidence in these products through the promotion of Research and Development standardization.
11. Lay the scientific, medical and social groundwork to facilitate this emerging and expanding market111. Expand the market locally with knowledge of sectors that can produce goods and services that higher the value chain which would also gain a great share of the international/global markets.
1v.Build a media interest to educate the public and healthcare practitioners of the products and trade market impact.
3. What is the estimated earning potential of this industry and who is the NCST primarily targeting in terms of new entrants?
It is estimated that the Nutraceutical Industry is worth over six hundred billion dollars by 2018 which will create thousands of new jobs through mass cultivation and employment in labs and processing plants.