Logistics Excellence is Essential for Cross-Border Nutraceutical and Dietary Supplement Shipping
Interest in personal health and wellness seems to know no boundaries, as worldwide demand for nutraceuticals and dietary supplements is at an all-time high. Among European Union residents, for example, one survey found 88% reported using dietary supplements. The usage rate is approximately 60% in both China and Japan; 82% in South Korea; and 47% in Australia. Closer to home, in the United States nearly 50% of adults take at least one dietary supplement, while in Canada, the number is closer to 75%.
Consumers have embraced these products, driving the value of the global nutraceutical market to more than $590 billion during 2023, with a projected annual growth rate of 7.6% for the next several years.
And while the “nutraceutical” and “dietary supplement” terms are often used interchangeably, there are important distinctions. Nutraceuticals are foods, or food components, while dietary supplements are products, taken by mouth that contain a “dietary ingredient’ intended to “supplement the diet.”
In the nutraceutical category, popular products include probiotics, fish oils, green tea supplements, and echinacea. Popular dietary supplements include multivitamins along with vitamin D, magnesium, and vitamin C. Fish oil, probiotics and echinacea are also popular dietary supplements, and are examples of the overlap that exists between the nutraceutical and supplement categories.
Today the industry consists of hundreds of thousands of products, manufactured by companies across the globe ranging from large multinational corporations to small start-ups. For U.S. and Canadian businesses, the current growth environment means opportunities for expansion into international markets. Any expansion though, will require careful planning, an understanding of market nuances and regulatory mandates, and a solid plan for logistics efficiency.
Our new white paper, Nutraceuticals and Dietary Supplements – Industry Overview and Global Growth Opportunities, is an essential resource for any business considering expanding its international footprint. The paper offers a detailed overview of the nutraceutical and dietary supplement industries, information about entering the export market, and an overview of key logistics considerations.
What you will learn: The white paper includes several important takeaways that include:
- Industry overview
– Definitions and distinctions between nutraceuticals, dietary supplements, and functional foods.
– Information about nutraceutical and dietary supplement regulation. - Global export opportunities
– U.S. and Canadian resources to help businesses interested in pursuing export opportunities. - Market challenges
– From regulatory threats to changing consumer attitudes, the industry faces several risk factors that could affect future growth, and force changes in how products are produced and marketed. - The logistics of nutraceutical distribution
– An understanding of the nuances of nutraceutical and dietary supplement distribution, including the need for omni-channel logistics excellence.