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The market for vitamins, minerals, homeopathics, and herbals will jump 39 percent between 2008 and 2012 to reach $8.5 billion, even with today's tough economy, according to anew study by market research firm Packaged Facts.
"During the past decade, with the massive growth of highly fortified foods, nutraceuticals, and functional foods, supplements have been competing directly with foods and beverages," said Tatjana Meerman, publisher of Packaged Facts. "But increased media attention on obesity and other diet-related health problems has prompted consumers to take more aggressive steps to avert health problems before they occur, and this includes renewed attention to taking their vitamins."
According to the study, "Nutritional Supplements in the U.S., 3rd Edition," the nutritional supplements market has been on an upswing, revitalizing after sluggish growth in 2004-2005 to grow 5 percent in 2006 and 8 percent in 2007. Helping protect the category is consumers' tendency to see vitamins and supplements as a key component of a preventive health care regimen.
Another factor contributing to increased sales is the success of products that target a specific health condition, the report revealed. Age-related treatments, gender- and kid-targeted products, and supplements cashing in on food and beverage trends are the main thrusts in this area, with condition-specific products accounting for nearly one-third of supplement sales.
The report examines the U.S. market for nutritional supplements sold to consumers through the entire retail spectrum, including vitamins, minerals, herbals, homeopathics, and combination products. The report provides retail sales breakouts for the past and future, along with a detailed examination of market drivers, the competitive situation, marketer and brand shares, marketing trends, and consumer trends, including health and wellness and dietary patterns and interest in nutraceutical foods and beverages.
The full report is available at www.packagedfacts.com/Nutritional-Supplements-1634930/.