Overall sales of dietary supplements are slowing, but it’s also a bigger and more complicated marketplace, says Claire Morton, Nutrition Business Journal's senior industry analyst. Top takeaways from the 2018 Supplement Business Report include:
• Mass market retail dominates sales in the natural and organic products industry with more than half of total market share and over $120 billion in annual sales.
• E-commerce, while frequently discussed and rapidly growing in the double-digits, still represents only 4 percent of total market share.
• Consumers report frequenting mass, grocery and natural stores over other retail channels, including e-commerce.
• Manufacturers rate the top three challenges of online retail as driving awareness of product, navigating Amazon and standing out.
• Natural and specialty retail has lost market share consistently since 2006, with growth slowing exponentially since 2015.