With consumer health products in demand, manufacturing specialists offer considerable value.
Demand for wellness products continues to gain steam, fueled by an aging population with a preference for natural, holistic medicine and also a younger, emerging demographic that has adopted a general self-care and preventive approach to health.
Globally, sales of consumer health products reached $219 billion in 2016, up 3%, according to Euromonitor International. Sales are projected to top $250 billion with ongoing growth of 3% per year through 2021. Meanwhile, dietary supplement sales are projected to reach $127.9 billion globally in 2017, up 6.1%, according to Nutrition Business Journal. Weight management, herbal/combination/traditional supplements and sports nutrition are expected to post the fastest growth through 2021, per Euromonitor.
In terms of the health issues consumers care about, maintaining mental sharpness with age was the number one health concern globally in 2016, according to HealthFocus International. Other health concerns included ability to continue normal activity with age (45%), oral health (43%), tiredness/lack of energy (43%), back/neck pain (41%), stress (40%), eye health (39%), lack of mental focus (36%),and skin appearance (27%).
As the dietary supplement industry has grown, regulatory oversight has increased. FDA’s creation of the Office of Dietary Supplement Programs in late 2015 underscores this added regulatory attention. Additionally, FDA’s new dietary ingredient notification (NDIN) draft guidance continues to get significant attention. How exactly it will be implemented and enforced remains to be seen under the new presidential administration.
Overall, in today’s environment, supply chain integrity and adherence to current Good Manufacturing Practice (cGMP) requirements are critical to quality, and ultimately the health of supplement brands. [Read More @ Nutraceuticals World]