Between 2006 and 2007, functional/fortified foods and beverage sales increased 12% to $38.6 billion. “Functional and fortified foods/beverage continue to comprise the largest segment within the health and wellness category,” says Maryellen Molyneaux, president of NMI. “It represents more than one-third of all industry sales.”
NMI also reported a growth of 25% for organic foods and beverages—with sales of $19 billion and more than 2,000 new product launches last year. Vitamins, minerals, herbal and dietary supplements amounted $21.7 billion in sales (up by 7%) in 2007. Natural foods/beverages reached $14.1 billion in U.S. consumer goods’ sales (up by 4%). In addition, natural/organic general merchandise amounted $1.5 billion in sales (up by 21% since 2006). Lastly, the natural/organic personal care category showed the largest growth since 2006, at 29% ($7.8 billion in sales). Based on recent in-depth research, NMI predicts this category will show staying power as evidenced by 842 new product introductions in 2007. NMI also predicts that double-digit growth of the health and wellness marketplace will continue with projected sales of $170 billion by 2012.
More details on industry trends and projections can be found in NMI’s 9th edition Health & Wellness Trends Report. Log onto www.nmisolutions.com for more information.