New Study Shows Dietary Supplement Industry Contributes More than $60 Billion to National Economy

by Christine Hronec

 
In a recent economic study conducted by the Natural Products Foundation, it was found that the dietary supplement industry contributes $61 billion dollars per year to the economy. The dietary supplement industry conducts enough business and sales to support more than 450,000 jobs.

The labor, raw materials, and technology needed to move each product from raw goods to a final sale, includes a financial impact on the economy that spans far beyond just sales numbers. Supplement industry revenue is actually just the tip of the iceberg. This economic study was the first study done to quantify the dietary supplement industry’s overall financial impact in a struggling national economy. This analysis was expanded beyond straight consumer sales and included the impact on complimentary industries (i.e. insurance, renting/leasing, finance, technical services, ingredient suppliers, manufacturing equipment, plastics manufacturers for jars, label suppliers, and so on).

This significant economic contribution comes as no surprise to those in the supplement business, as well as those considering venturing into this profitable and growing industry. The dietary supplement industry is one of the only industries actually out growing the rate of inflation; a rate of growth greater than 5% per year. As sales continue to grow the economy benefits as well by the creation of sustainable jobs, manufacturing infrastructure, and health care benefits by way of prevention. For more than ten years, even in spite of the national economic crisis, this is one of the few industries that has consistently demonstrated growth at a rate that exceeds inflation. Both optimists and pessimists agree that the growth is real and the supplement business is here to stay. For more information on how you can get started on creating your own brand or to distribute the Muscle Gauge Nutrition brand, contact sales@musclegauge.com.

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