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Hi 5ed6e015c0newslettercollectorcom,
This is Cindy Van Schouwen from Nutrition Business Journal.
After the swings from the highest growth in recorded history to the lowest growth in just two years, the 2.6% growth NBJ predicts for the industry appears stable. That 2.6% in 2023 is a rebound, though small, from 1.9% growth last year. But it’s complicated and the growth isn’t evenly spread across the industry. The 2023 Supplement Business Report breaks it all down, looking at the industry as the following six categories to give you clarity on all the factors impacting market dynamics.
Herbs and Botanicals Meal Supplements Minerals Sports Nutrition Supplements Vitamins Specialty and Other Supplements
Let’s take a closer look at vitamins as an example. Two years after the 22.3% spike that drove up sales by $3.24 billion, vitamin sales are down 2.5%, drawing $465 million out of the market, a number that accounts for much of the slowdown in sales growth for the industry overall. Herbs and Botanicals are down, too, but combination herbs are primed and ready to overtake single herb sales for the first time ever in 2024. So, where’s the growth coming from? Dig into the 2023 Supplement Business Report to understand where the nutrition industry is, and where it's headed.
Learn more.
Please feel free to reply directly to this email with any questions.
Talk soon –
Cindy
cvanschouwen@newhope.com
Senior Business Development Manager | Nutrition Business Journal
P.S. Not sure if this will have what you’re looking for? Reply to this email and let me help you find the right report for your needs. | 