By Frieda Wiley, PharmD, Contributing Writer07.03.19
In 2017, the global nutraceuticals industry enjoyed a revenue of $200.2 billion and showed no signs of slowing down. In fact, the market is projected to explode to a $317.3 billion industry worldwide market by 2024, according to Zion Market Research.
Total consumer spending on herbal dietary supplements in the U.S. reached an estimated $8.085 billion in 2017, according to analysis reported in HerbalGram, the American Botanical Council’s (ABC) quarterly, peer-reviewed journal. This marked the first time total U.S. retail sales of herbal supplements have surpassed $8 billion. In addition, the 8.5% increase in total sales from 2016 is the strongest growth for these products in more than 15 years.
Increasing public interest in natural health and wellness products has led to widespread adoption of dietary supplements in general, and herbal products specifically. In order to ensure the long-term health of the marketplace, quality assurance is critical, experts have noted. This article explores some of the pain points associated with a fast-growing industry.
Testing Challenge
Total consumer spending on herbal dietary supplements in the U.S. reached an estimated $8.085 billion in 2017, according to analysis reported in HerbalGram, the American Botanical Council’s (ABC) quarterly, peer-reviewed journal. This marked the first time total U.S. retail sales of herbal supplements have surpassed $8 billion. In addition, the 8.5% increase in total sales from 2016 is the strongest growth for these products in more than 15 years.
Increasing public interest in natural health and wellness products has led to widespread adoption of dietary supplements in general, and herbal products specifically. In order to ensure the long-term health of the marketplace, quality assurance is critical, experts have noted. This article explores some of the pain points associated with a fast-growing industry.
Testing Challenge
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