Nutrition Business Journal
Storm proof: Dietary supplements weather global economic downturns

Storm proof: Dietary supplements weather global economic downturns

The dietary supplement industry appears resistant to global economic storms: a look back, and forward.

While massive economic swings definitely impact sales across categories, the global supplement market stands strong. In 2009, for instance, global supplement sales actually increased 4.8 percent—admittedly the lowest growth since NBJ began tracking it—against a global gross domestic product (GDP) decline. GDP growth dropped again in 2013, but supplement sales continued on an upward growth trend in many regions. Western Europe and Japan have struggled the most to move past economic concerns to rebuild a vibrant supplement market.

The below graph charts global supplement industry sales and growth and forecasts growth at a CAGR of 6.1 percent from 2015 to 2020. Sales of $153 billion will be boosted by strong growth in "the rest of Asia" (Asia excluding China, Japan and India) and Eastern Europe where growth is expected to be in the 9% range annually.

TAGS: News General
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