Hi 5ed6e015c0newslettercollectorcom,

This is Claire, Nutrition Business Journal's Senior Industry Analyst.

With the current economic climate and the glooming unknowns, where do predictions lie for the health and nutrition industry?

For the first time ever, NBJ has released an update to our predictions, in the Special Report: Supplement Market Economy Update 2023.

After research and analysis completed in December 2022 we revised our predictions to provide you with the most accurate projections for 2023. NBJ is now estimating growth at 1.7% in 2022, falling to 1.2% this year. Though this growth curve is the largest adjustment in NBJ history, the forecasts shows growth normalizing as total sales volume is projected to surpass pre-COVID projections from 2019.

With the economy in the state that it's in, consumers are feeling the impacts of inflation. NBJ conducted the same survey in July, September and November of 2022. We found that in November, 63% of consumers reported feeling pressure or stress due to inflation and rising costs and 61% of consumers have reported changing their grocery shopping behaviors as a result - both increases from the July and September results. Explore the survey data first hand within the report.

We are excited to share this rare "mid-year" update with our audience. And please note, this is not a substitute for our full reporting which will continue into the year, but an important addition. This report answers the most pressing questions for the supplement industry in such a turbulent time, and gives an exclusive early view into projections for the years to come.

Claire Morton
cmorton@newhope.com
Senior Industry Analyst | Nutrition Business Journal