Health & wellness sales top $102 billion.
The Natural Marketing Institute (NMI), Harleysville, PA, reported recently that retail sales within the U.S. consumer packaged goods health and wellness industry climbed to $102 billion in 2007, representing 15% growth over 2006. These findings are part of NMI's annual Health & Wellness Trends Database (HWTD) research study conducted in 2007 among 6190 U.S. households. Based on consumer spending by product segment, consumer penetration/usage trends and projected data, industry retail sales for 2007 (and growth versus 2006) are as follows: Functional/Fortified Foods & Beverages: $39 billion (12%); Vitamins, Minerals, Herbal & Dietary Supplements: $22 billion (7%); Organic Foods/Beverages: $19 billion (25%); Natural Food/Beverages: $14 billion (4%); Natural/Organic Personal Care: $8 billion (29%); and Natural/Organic General Merchandise: $1.5 billion (21%).
NMI predicts double-digit growth of the health and wellness marketplace will continue, with projected sales of $170 billion by 2012. The natural/organic personal care category showed the largest growth over 2006, at 29%. Based on this research, NMI thinks the category will show staying power as evidenced by 842 new product introductions in 2007. The organic food/beverage category also exhibited impressive growth (25%) over 2006, and witnessed 2107 new product introductions.
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|Title Annotation:||INDUSTRY NEWS|
|Article Type:||Brief article|
|Date:||Sep 1, 2008|
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