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Vitamin & Supplement Manufacturing in the US - Industry Market Research Report

Vitamin & Supplement Manufacturing in the US - Industry Market Research Report

  • March 2021
  • 45 pages
  • ID: 575756
  • Format: PDF
  • Ibisworld

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Healthy forecast: An aging population and growing health consciousness benefit the industry

Abstract

Vitamin & Supplement Manufacturing in the US
The Vitamin and Supplement Manufacturing industry has grown over the five years to 2019 as Americans have become increasingly health-conscious and supplement manufacturers have continued to introduce new products. Rising pharmaceutical drug prices, increased media coverage on health and wellness trends and rising research on diet-related illnesses have encouraged consumers of all ages to turn to dietary supplements. However, several scandals and regulatory hurdles during the latter half of the five-year period have caused some mainstream consumers to become skeptical of product safety and efficacy. Over the five years to 2024, the industry will continue to benefit from the same trends that have supported its growth in the past, including increasing health expenditure and growing mainstream interest in wellness and nutrition. However, the industry is likely to contend with increased regulation and public scrutiny in the coming years.

Vitamin and supplement manufacturers primarily develop and manufacture products that are consumed by mouth and contain an ingredient intended to supplement the diet. Key groups within this industry include standard vitamin and mineral supplements, as well as sports nutrition products and herbal supplements. This industry excludes manufacturers of energy drinks, infant formula and prescription or over-the-counter (OTC) medications used to prevent or treat illnesses.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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