NBJ Report Finds Niche Categories Drive Supplement Industry Growth 4% in 2002

Nutrition Business Journal announces the release of NBJ’s Supplement Business Report 2003, NBJ's definitive compendium of market research on the global dietary supplement industry.

"With this comprehensive third edition, we address an industry at a critical point in its evolution," said NBJ Editor-in-Chief Grant Ferrier. "On one side you have increased scrutiny from the media, regulators and consumers. On the other side, you have the seemingly inexorable demand of the American population in pursuit of healthier lifestyles. These countervailing trends result in an industry defending itself one day, yet validating its efforts to reduce escalating healthcare costs the next."

The U.S. supplement industry grew by $680 million in 2002 to reach sales of $18.7 billion, according to NBJ’s Supplement Business Report 2003. Each year, through surveys and interviews of manufacturers and suppliers and analysis of more than 40 secondary sources, NBJ produces its definitive report on the U.S. and global nutritional supplement market.

While American consumers have been using dietary supplements for decades, it is only recently that the U.S. supplement industry has demonstrated the signs of a maturing industry. Declining growth, price pressures, commoditization of particular products, intensifying competition, a skeptical media and an emerging sense that the health-motivated customer base may be approaching market saturation in some categories all conspire to make the business of selling supplements more challenging.

"Our objective with such a detailed report is too provide business planners with a single source which addresses the supplement industry from all angles," said Patrick Rea, NBJ's Director of Research. "With all the business challenges supplement companies face, every decision must be made drawing on the best available intelligence."

NBJ’s Supplement Business Report 2003 is a comprehensive analysis of the $18.7-billion U.S. dietary supplement industry supply chain, from consumer to retailer to manufacturer to raw material supplier. This 1,000+-page report presents comprehensive analysis on each of six supplement categories (vitamins, minerals, herbs, sports nutrition & weight loss, liquid meal replacements and specialty supplements), as well as each major sales channel (mass market, natural food & specialty retail and direct sales channels like network marketing and the Internet).

Much like the sputtering global economy, the supplement industry sparked to life in some areas in 2002 (coral calcium, magnesium, omega-3 essential fatty acids and meal replacements) and growth fizzled in others (herbs and glucosamine). However, the supplement industry once again maintained a growth rate substantially higher than that of the economy.

NBJ’s Supplement Business Report 2003 captures market size, growth and business trends of an evolving industry, but also examines the ups & downs of specific products and specific companies as lessons learned for business planners. The report includes over 150 detailed profiles of companies involved in selling dietary supplements, in addition to information on leading supplement brands, distribution, sales trends, prices, premiums and competitive issues.

A summary of the $53 billion global supplement market is also provided with a country-by-country review of market size, leading manufacturers, products and retailers.

For more information or to request a table of contents, call Jill Piotrowski at 619-295-7685 x12 or visit nutritionbusiness.com.

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