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    Health Supplement Stores Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 4/26/2021
    SIC Codes: 5499
    NAICS Codes: 446191
    Chapters Include:
    Industry Overview Trends & Challenges Industry Forecast
    Quarterly Industry Update Call Prep Questions Website & Media Links
    Business Challenges Financial Information Glossary & Acronyms
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    Excerpt from Health Supplement Stores Industry Profile

    Companies in this industry sell vitamins, minerals, and dietary supplements from physical retail locations. Major companies include GNC Holdings, Vitamin Shoppe, and Vitamin World (all based in the US), along with Holland & Barrett (UK).

    Worldwide supplement sales through all channels are projected to approach $140 billion in 2020 expected to expand at a CAGR of 8.6% from 2021 to 2028, according to Grand View Research. The US and Asia, notably China, are leading markets for supplement sales, each accounting for about a third of global sales, according to Nutrition Business Journal (NBJ). A significant amount of growth is expected to come from Latin America, driven by rising urban populations, modernizing retail channels, and increasing middle-class income.

    The US health supplement store industry includes about 10,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $6.5 billion. Dietary supplement usage in the US is at an all-time high, with more than 75% of adults taking supplements, according to The Council for Responsible Nutrition.

    COMPETITIVE LANDSCAPE

    Health and nutrition trends, aging populations, and consumer spending drive demand. The profitability of individual companies depends on product innovation, effective merchandising, and competitive pricing. Large companies have advantages in purchasing, distribution, finance, and marketing. Small companies can compete effectively by providing superior customer service, offering unique products, serving a local market, or leveraging online sales. The US industry is concentrated: the top ...

     
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