These findings are part of NMI’s annual Health & Wellness Trends Database (HWTD) research study, conducted in 2007 among 6190 U.S. households.
Based on consumer spending by product segment, consumer penetration/usage trends, and projected data, industry retail dollars in billions for 2007 (and growth versus 2006) are as follows:
• Functional/Fortified Foods & Beverages: $38.6 (12%)
• Vitamins, Minerals, Herbal & Dietary Supplements: $21.7 (7%)
• Organic Foods/Beverages: $19.0 (25%)
• Natural Foods/Beverages: $14.1 (4%)
• Natural/Organic Personal Care: $7.8 (29%)
• Natural/Organic General Merchandise: $1.5 (21%)
NMI predicts that double-digit growth of the health and wellness marketplace will continue with projected sales of $170 billion by 2012.
“Functional and fortified foods/beverage continue to comprise the largest segment within the health and wellness category,” according to NMI President Maryellen Molyneaux. “It represents more than one-third of all industry sales—up 12% versus 2006. This category will continue to grow, driven by consumers’ desire for increased management of their health and more health options, and the high number of new product introductions across food and beverages that answer those needs.”
The natural/organic personal care category showed the largest growth over 2006, at 29%. Based on recent research, NMI is predicting this category will show staying power as evidenced by 842 new product introductions in 2007. Organic food/beverages also show impressive growth of 25% over 2006 and 2107 new product introductions last year.