Supplement sales in Asian markets surpassed the U.S. market for the first time in 2017, and emerging markets are showing the strongest growth, according to a new report from the Nutrition Business Journal.
The changes mark another sign that U.S. supplement companies should look to the international markets for opportunities. The newly published NBJ Global Supplement Business Report is designed to support international strategies with data and insight on:
- Latin America
- Europe and Russia
- Japan and Asia
- Africa and the Middle East
- Australia and New Zealand
The United States has long been the dominant market for supplements, but that could be changing as Asian countries, particularly China with its growing middle class, show an increased willingness to spend on supplements–and a taste for U.S. brands. The collective Asian market, a wide geographic swath that includes Japan, China and India, surpassed the U.S. market for the first time in 2017, totaling up to $43.5 billion to the U.S. market’s $43.4 billion. Africa and Russia/Eastern Europe stand out as strong growth areas, with supplement sales in Africa rising 9.1 percent, while Russia topped all regions for growth with a 9.4 percent increase in sales.
All of this information and more than 100 charts detailing sales by category in regions around the world is available in the NBJ Global Supplement Business Report.