Supplement Sales Swell

NEW YORKDietary supplement sales for last year were higher than the previous year, and the entire market saw double-digit growth in the past four years, according to Nutritional Supplements in the U.S., 4th Edition, by market research publisher Packaged Facts. Packaged Facts estimated U.S. retail sales of nutritional supplements exceeded $9 billion in 2009, up 8 percent over 2008 sales. From 2005 to 2009, the market grew by a total of 26 percent, fueled by growing consumer awareness about health maintenance, in addition to pressure by the media and government to enforce product accountability.

The growth shouldnt stop there, according to the Packaged Facts, which forecasted annual sales growth in nutritional supplements to improve over the new few years. Sales will exceed $13 billion in 2014, it reported, yielding a compound annual growth rate of 7 percent.

The strength of this market is due to the aging Baby Boomer population and other health-conscious consumer cohorts who favor supplements as an affordable way to stay healthy compared to costly prescription drugs and preventable medical procedures, according to the research firm.

 Part of the resiliency of nutritional supplements during this trying economic period stems from the fact that Americans are losing confidence in their ability to pay for healthcare, even as the economy shows signs of turning around," said Don Montuori, publisher of Packaged Facts. Compared to doctors visits, hospital stays and prescription drugs, nutritional supplements can be a bargain."

The supplement industrys move toward more science-based claims and various other efforts to shore up its credibility will further help push nutritional products into the mainstream, noted the firm.

Nutritional Supplements in the U.S., 4th Edition, examines the U.S. market for nutritional supplements sold to consumers through the full retail spectrum, including vitamins, minerals, herbals, homeopathics and combination products. The report provides extensive retail sales breakouts, past and future, along with a thorough examination of market drivers, the competitive situation, marketer and brand shares, marketing trends and consumer trends. Special features include a discussion of competition from nutraceutical foods and beverages based in part on Packaged Facts own consumer polling, and in-depth coverage of condition-specific products in myriad segments including joint, calcium, childrens, eye, energy, heart, mens, womens, brain, digestive and cosmetic.

Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer goods and retailing, foods and beverages, demographics, pet products and services, and financial products.