Health & Wellness Industry Approaches $60 Billion
HARLEYSVILLE, Pa.--The consumer packaged goods health and wellness industry topped $59 billion in 2002, according to new research from the Natural Marketing Institute (NMI). Information from its Health and Wellness Trends Database, based on a study of 2,000+ U.S. households, showed a 7.3-percent increase in sales compared to 2001.
Among the strongest growth areas were functional and fortified foods/beverages, which were up 11 percent; organics, up 17 percent; and natural/organic personal care, showing an increase of 15 percent. "The data indicates a 10-percent compound annual growth rate, with projected sales of $86 billion by 2006," said Maryellen Molyneaux, president of NMI. "With this growth comes an evolution of consumer nuances, and how they play into strategic development, new product initiatives, marketing communications and overall business planning."
The 2003 Health and Wellness Trends Report, a 200-page research document, analyzes consumer attitudes, behaviors, product usage and demographics across a range of wellness categories. Further information is available from NMI (www.nmisolutions.com).