Growing markets reach different stages of maturity, mass-market penetration and regulatory clarity.
For manufacturers and marketers of health products, it’s a great, big world out there. Global sales of nutrition products grew 8.4% to more than $182 billion in 2003, according to research conducted and compiled by NBJ from over 50 sources. While the developed markets of North America, Western Europe and Japan account for 86% of the global total, their collective growth rate of 8% is noticeably slower than the 12+% clocked by the rest of the world. This still attributes almost 80% of new global sales in 2003 to the developed markets, but many companies are also laying strong foundations for long-term growth in emerging markets.
While the growth of natural & organic foods and functional foods is reshaping the global food industry, it is the dietary supplement market that best reflects the sometimes dramatic differences between nations. Swings and roundabouts describe the supplement market worldwide, with no country riding exactly the same trajectory in 2004. Economic...
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