Vitamin, Nutritional Supplement & Other Health-Related Product ManufacturingBrief Excerpt from Industry Overview Chapter:
Companies in this industry develop and manufacture vitamins, nutritional supplements, herbal remedies, and other natural health products. Major companies include Amway, Herbalife Nutrition, Nature's Bounty, and USANA (all based in the US), as well as Arkopharma (France), Nelsons (UK), Tong Ren Tang (China), and divisions of companies such as Pfizer and Procter & Gamble (both based in the US).
Demand for vitamins and nutritional supplements is driven by demographics, acceptance of natural medicines, and the desire to maintain long-term health. The profitability of individual companies depends on the ability to develop superior products. Large companies benefit from economies of scale of manufacturing, research, and marketing. Small companies can compete effectively by specializing in niche nutritional products, or through advanced product development efforts. The US industry is highly concentrated: the top 50 companies account for more than 82% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Medicines made from botanical substances, as well as from organic and inorganic chemicals, are included in the industry. Vitamins are used to maintain or improve overall health and reduce the risk of chronic disease, both in humans and in animals, by supplementing their usual diet. Nutritional and herbal supplements can target specific health issues such as weight management, heart health, and sports performance.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook