US sales soar for natural dietary supplements

- Last updated on GMT

Related tags: Marketing, Food and drug administration, Dietary supplement

The US Natural Dietary Supplements Market generated revenues of
$6.67 billion in 2000, a new survey reveals. The report, from
market research company...

The US Natural Dietary Supplements Market generated revenues of $6.67 billion in 2000, a new survey reveals. The report, from market research company Frost & Sullivan​, estimates that the figure will reach $21 billion by 2007. Although market growth has slowed for herbal/botanical supplements, Frost & Sullivan commented, other natural dietary supplements, such as phytochemicals, are experiencing the reverse. One primary reason for growth in sales is the consumers' move away from synthetic drugs towards alternative means to help their health. Although the report stressed that the biggest factor restricting market growth is consumer scepticism of product effectiveness. Companies are not required to put their supplements through stringent testing to receive Food and Drug Administration (FDA​) approval. This lack of stringent efficacy testing causes many people to question the validity of the dietary supplements. Companies that can back their structure/function claims with strong scientific evidence can make strong headway in the market, the report highlighted.

Related topics: Market Trends

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