Study: Health and Wellness Sales Up 7.3%
By George Anderson
Sales of health and wellness consumer packaged goods grew 7.3% last year to $59 billion according to The Natural Marketing Institute’s (NMI) Health and Wellness Trends Database (HWTD).
Steve French, managing partner, NMI said in released statement, “The industry’s strength is currently within functional and fortified foods/beverages (+11%), organics (+17%), and natural/organic personal care (+15%). Vitamins, minerals, and herbals show continued maturation, however HWTD insight indicates renewed, positive trends.”
The HWTD is part of The 2003 Health and Wellness Trends Report published by NMI. The report analyzes consumer attitudes, behaviors, product usage, lifestyles and demographics across specific health and wellness categories such as natural/organic foods and nonfoods, functional/fortified foods, weight management products and dietary supplements.
NMI is predicting continued growth for health and wellness categories. Maryellen Molyneaux, president, NMI said, “The data indicates a 10% compound annual growth rate, with projected sales of $86 billion by 2006. With this growth comes an evolution of consumer nuances, and how they play into strategic development, new product initiatives, marketing communications, and overall business planning.”
Moderator’s Comment: Do you see “an evolution of consumer
nuances” as described by NMI’s Maryellen Molyneaux? How will (or should) this
“play into strategic development, new product initiatives, marketing communications,
and overall business planning” for retailers and CPG companies?
Anderson – Moderator]