Industry Analysis & Industry Trends
Although vitamins and supplements are often considered nondiscretionary purchases, the industry has grown at a steady clip over the past five years due to several factors, such as the aging population, reduced levels of employed and insured Americans and increasing consumer concerns toward health. Growth is forecast to continue over the next five years, especially as disposable incomes recover, though competition from imports and manufacturers' move to cheaper labor-cost countries will restrain significant revenue increases... purchase to read more
Industry Report - Industry Products Chapter
Product segmentation for the Vitamin and Supplement Manufacturing industry has shifted over the five years to 2013. While vitamins and mineral supplements have remained popular with consumers, much of their manufacturing is now done abroad. Meanwhile, herbal and botanical supplements largely remain produced domestically, though their base ingredients may be imported.
Vitamin supplements are expected to make up 25.4% of industry revenue in 2013, a decline from 2008 due to offshoring. Vitamin supplements include single-vitamin and multivitamin products. Most vitamins are sold as capsules or tablets, but they can also be made into powders, sprays, liquids, candies, lozenges or chewable tablets. Vitamins can be classified as fat- or water-soluble... purchase to read more