Phoenix Formulations

What Phoenix Formulations does

Phoenix Formulations is a Tempe, Arizona-based contract development and manufacturing organization (CDMO) that produces sports nutrition and dietary supplement products in powder, capsule, and tablet formats. The company operates a single manufacturing facility at 455 West 21st Street and delivers turn-key services spanning formulation development, flavor development, raw material documentation, analytical testing, production, regulatory compliance, and quality assurance. In-house testing infrastructure includes ICP-MS, Shimadzu HPLC X3, FTIR, complete microbiology testing, and a marketed product stability lab, supporting a customer base of established and emerging sports nutrition and dietary supplement brands.

The company is part of the INW | Innovations in Nutrition + Wellness network, a Cornell Capital LLC-controlled platform that combines six specialty manufacturing companies across 14 facilities and approximately 1.5 million square feet of production capacity. Within the network, Phoenix Formulations contributes full-range powder, capsule, and tablet CDMO capability alongside ProForm Laboratories (powders), Capstone Nutrition (capsules, tablets, powders), Dallas One Solutions (liquids, gel packs, cosmetics), Living Ecology (functional foods and bars), and Bee Health (UK vitamins, minerals, supplements). The network claims over 5,000 unique formulations collectively, providing customers with formulation breadth, redundancy, and scale benefits.

Phoenix Formulations generates revenue through B2B contract manufacturing engagements priced on a quote basis per project and structured around multi-year contracts. GTM motion is enterprise field sales targeting sports nutrition and dietary supplement brands, supported by participation in industry trade events such as SupplySide Global 2025 and direct outreach through the INW network. Certifications including FDA registration, cGMP, NSF/NSF Sports Certified, SQF, HALAL, and GMP Registered for Sport and Dietary Supplements serve as regulatory prerequisites for serving brand customers in regulated nutrition categories.

Name

Phoenix Formulations

Legal name

INW Manufacturing, LLC

Website

https://inwmfg.com

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

101–250 employees

Short description

Phoenix Formulations is a Tempe, Arizona-based contract development and manufacturing organization (CDMO) serving sports nutrition and dietary supplement brands with turn-key production of powders, capsules, and tablets, operating as part of the Cornell Capital-backed INW network.

Ownership category

akta.pro rank

Product category

Contract Development and Manufacturing (CDMO) for Dietary Supplements

NAICS

Medicinal and Botanical Manufacturing (325411)

SIC

Miscellaneous Food Preparations & Kindred Products (2090)

akta.pro primary industry

Functional Foods & Supplement Formats (Gummies, Chews, Powders, Shots) (CRADAGAI)

Keywords

• Contract manufacturing
• Dietary supplements
• Sports nutrition
• Protein powder manufacturing
• Capsule manufacturing

Headquarters

HQ city

Farmington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Contract Manufacturing Services: Phoenix Formulations generates revenue through contract development and manufacturing services for sports nutrition and dietary supplement products, including powders, capsules, and tablets. Services are provided on a project basis with direct engagement with brand partners.
2. Product Development Services: Turn-key development services including formulation, flavor development, raw material documentation, and testing - provided as part of the integrated CDMO offering.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Phoenix Formulations is a B2B contract development and manufacturing organization (CDMO) that develops and produces sports nutrition and dietary supplement products for brand customers in three primary formats: powders (plant-based, whey, soy protein, and meal replacements), capsules (gelatin and vegetarian), and tablets. The company offers turn-key services covering formulation, flavor development, raw material documentation, in-house analytical and microbiology testing, production, regulatory compliance, and quality release from its Tempe, Arizona facility within the INW network.

Product overview

Phoenix Formulations is a single brand and contract manufacturing operation within the INW (Innovations in Nutrition and Wellness) network. It provides full-range development and production of sports nutrition and dietary supplement products including powders (protein powders, meal replacement, plant-based), capsules (gelatin and vegetarian), and tablets. The facility offers turn-key services from formulations and flavors to raw material documentation, testing, production, compliance, and quality assurance. Phoenix Formulations operates as one of several specialized manufacturing sites within the INW network.

Differentiator

Problem solved

Functional benefit

Products and services

• Protein Powder Manufacturing Contract manufacturing of protein powders for sports nutrition brands, including plant-based protein powders, whey protein powders, soy protein powders, and meal replacement formulations. Includes precision blending, flavor science, taste masking, solubility optimization, and shelf-life stability work.
• Capsule Manufacturing Contract manufacturing of dietary supplement capsules in both gelatin and vegetarian formats for vitamin, mineral, and botanical supplement brands.
• Tablet Manufacturing Contract manufacturing of tablet-form dietary supplements produced at the Tempe, Arizona facility for dietary supplement brands.
• Turn-Key Product Development & Production Services Integrated end-to-end service for sports nutrition and dietary supplement brands covering formulation development, flavor development, raw material documentation and testing, production, compliance, and quality release as a single contracted engagement.
• In-House Analytical & Microbiology Testing Standalone analytical testing services including ICP-MS, Shimadzu HPLC X3, FTIR, complete microbiology testing, and a marketed product stability laboratory used for raw material documentation, finished product release, and regulatory compliance support.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Capstone NutritionminorStrategic or Co-development Partner · 1 January 2021Capstone Nutrition (acquired 2021) provides full-range health and wellness products including capsules, tablets, and powders. Founded in 1989, headquartered in Ogden, Utah with a 300,000-square-foot facility.
• Bee HealthminorStrategic or Co-development Partner · 1 January 2021Bee Health (acquired 2021) is the UK's leading nutritional supplement manufacturer, headquartered in Bridlington, Yorkshire. Expands INW's vitamins, minerals, supplements into the European market.
• Living EcologyminorStrategic or Co-development Partner · 1 January 2020Living Ecology (acquired 2020) specializes in functional foods and nutritional bars, operating a 100,000+ sq. ft. facility in Henderson, NV. Expands INW network into the growing bar category.
• Dallas One SolutionsminorStrategic or Co-development Partner · 1 January 2019Dallas One Solutions (acquired 2014) specializes in liquids, gel packs, and cosmetics manufacturing. Part of the INW network complementing Phoenix Formulations' powder and capsule capabilities.
• ProForm LaboratoriesminorStrategic or Co-development Partner · 1 January 2018ProForm Laboratories (acquired 2018) specializes in powder manufacturing for dietary supplements and sports nutrition, with over 30 years of experience and manufacturing for over 20 countries. Complements Phoenix Formulations' powder capabilities.
• INW | Innovations in Nutrition + WellnesscoreStrategic or Co-development PartnerPhoenix Formulations is one of six network companies within INW | Innovations in Nutrition + Wellness. The network combines manufacturing capabilities across powders, solid dose, liquids/gel packs, cosmetics, and more, providing scalability and extensive capabilities that create synergies throughout the production process.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Vitakem: Vitakem is a contract supplement manufacturer offering capsule, tablet, and powder production for dietary supplement and sports nutrition brands. It mirrors Phoenix Formulations' CDMO positioning with comparable regulatory certifications and a similar B2B sales motion targeting emerging and established supplement brands.
• PMC (Pharmaceutical Manufacturing Company): PMC is a contract manufacturer of dietary supplements, vitamins, sports nutrition, and nutritional powders in capsule, tablet, and powder formats. It competes head-to-head with Phoenix Formulations for brand clients seeking full-service supplement and sports nutrition CDMO partnerships.
• CapsCanada: CapsCanada is a global capsule manufacturer offering both gelatin and vegetarian capsules with integrated R&D and quality services. While more capsule-focused, its capsule manufacturing and CDMO-adjacent services overlap with a core capability Phoenix Formulations offers its supplement and sports nutrition brand customers.
• NutraScience Labs: NutraScience Labs is a contract manufacturer of dietary supplements and sports nutrition products in capsules, tablets, and powders. It directly competes with Phoenix Formulations for the same B2B sports nutrition and supplement brand customers seeking turn-key formulation-to-commercialization CDMO services.
• Robinson Pharma: Robinson Pharma is a CDMO specializing in capsules, tablets, liquids, and powders for the dietary supplement market. Its capabilities and customer overlap with sports nutrition and supplement brands place it in direct competition with Phoenix Formulations' turn-key development and manufacturing services.
• Gemini Pharmaceuticals: Gemini Pharmaceuticals is a CDMO producing capsules, tablets, powders, and liquid dietary supplements for nutritional brands. Its service mix, customer profile, and GMP-certified manufacturing footprint make it a direct peer competing for the same sports nutrition and supplement contract manufacturing book of business as Phoenix Formulations.

Broad incumbents

• Thermo Fisher Scientific (CDMO division): Thermo Fisher Scientific operates a broad CDMO/contract manufacturing business spanning pharma, biologics, and consumer health products. Its scale and broader portfolio position it as a large incumbent that competes for the same enterprise nutritional and supplement brand manufacturing contracts, though nutrition is one of many segments it serves.
• Aenova Group: Aenova is a European-headquartered CDMO with broad capabilities in solids, semi-solids, liquids, and dietary supplements. As a diversified incumbent, it overlaps with Phoenix Formulations in dietary supplement and sports nutrition contract manufacturing for brand customers seeking premium certified production.
• Catalent: Catalent is a large global CDMO with softgel, oral solid dose, and supplement manufacturing capabilities. While primarily pharma-focused, its consumer health and nutritional supplement CDMO offerings make it a broad incumbent competing for the same enterprise supplement brand contracts targeted by Phoenix Formulations.

Emerging players

• Glanbia Nutritionals: Glanbia Nutritionals is a premier ingredient and premix manufacturer serving sports nutrition and supplement brands with protein, flavor, and functional ingredient systems. While it overlaps mainly on the formulation/ingredient side rather than finished-dose manufacturing, it competes for relationships with the same brand customers that Phoenix Formulations serves via turn-key development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Phoenix Formulations