By Sean Moloughney, Editor02.28.23
Balancing rising costs for materials, components, and logistics in today’s economic environment is a tall order for dietary supplement brands and the contract manufacturers they rely on.
At the same time, companies in the nutrition, health, and wellness markets have been tasked with meeting heightened consumer demand since the start of the pandemic. While market growth and disruption have moderated, there are still pain points that businesses must aim to alleviate.
Supply chain issues are still prevalent in many markets due to pandemic-related disruption, raw material shortages, and increased demand, according to Joe Zhou, CEO of TSI Group, which has 13 locations around the world, including contract manufacturing capabilities in China and Australia. “The expectation for this year is for a gradual improvement in the balance of supply and demand, but challenges may persist in certain sectors.”
Inflation and economic pressures have affected consumer spending, leading to a more cost-conscious market, Zhou said. “Brands are balancing these pressures by finding ways to reduce costs
At the same time, companies in the nutrition, health, and wellness markets have been tasked with meeting heightened consumer demand since the start of the pandemic. While market growth and disruption have moderated, there are still pain points that businesses must aim to alleviate.
Supply chain issues are still prevalent in many markets due to pandemic-related disruption, raw material shortages, and increased demand, according to Joe Zhou, CEO of TSI Group, which has 13 locations around the world, including contract manufacturing capabilities in China and Australia. “The expectation for this year is for a gradual improvement in the balance of supply and demand, but challenges may persist in certain sectors.”
Inflation and economic pressures have affected consumer spending, leading to a more cost-conscious market, Zhou said. “Brands are balancing these pressures by finding ways to reduce costs
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