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Economic uncertainty and concerns over healthcare costs are driving growth in the nutritional supplements

By Stephen Daniells
 
Economic uncertainty and concerns over healthcare costs are driving growth in the nutritional supplements, with the market expected to hit almost $10 billion in retail sales.

According to an updated report by Packaged Facts, growth of the US nutritional supplements market has increased by from 5.5 percent in 2007 to 9.5 percent in 2009. Retail sales, dominated by Walmart, were worth $9.4 billion last year, said the report.

While many segments of the US economy have suffered during the economic downturn, the US nutritional supplement market remains strong. Packaged Facts forecasts annual sales growth will gradually improve over the new few years with sales exceeding the $13 billion by 2014. Baby Boomers and other health conscious consumers continue to favor supplements as alternatives to costly medications.

“Part of the resiliency of nutritional supplements during this trying economic period stems from the fact that Americans are losing confidence in their ability to pay for healthcare, even as the economy shows signs of turning around,” said Don Montuori, publisher of Packaged Facts. “Compared to doctors visits, hospital stays, and prescription drugs, nutritional supplements can be a bargain.”   Read article

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