Page 57 - Payout Magazine Online Volume 8.8

billion was spent by consumers making online was implemented. Another critical theme for
purchases. The expectations are by the year the future is sustainability. This encompasses
2021, 15.5 percent of all global purchases will be the realities of wasted food, climate change,
conducted online. There is no doubt the future deforestation, the plastic in the oceans and
of nutraceuticals and supplement brands for many other important issues. This not only
businesses and retailers have become digitally provides businesses in the industry with new
based. opportunities, it requires them to raise their
business standards.
The likelihood of a fully digitized marketplace
is strong according to the results from 2017 The nutraceutical and food industries will
and 2018. Despite the fact this concept is still both be significantly impacted by the concept
several decades in the future, every sign is of personalized nutrition. It is not currently
pointing to a significant increase for the online possible to correctly predict the specifics. This
sales of nutraceuticals. The amount of dietary being said, once the power and concept of
supplements used by consumers is consistently personalized nutrition is fully understood by the
increasing. Approximately 76 percent of masses, there will be no going back. Technology
every adult living in the United States is using is transforming the health and wellness sectors
some type of dietary supplement. Of these of the future. Products to support everything
consumers, 87 percent believe these products from anxiety to sleep to pain are thriving.
are effective, of high quality and safe. The New products and ingredients available in the
continued committeemen of these consumers nutraceuticals market are expected to target
is based on the integrity of the industry and the the more robust and narrower populations of
quality of the products. the market in the future. This may eventually
address athletes, sports or academia.
the success of nutraceutical
Companies in the Future the Mergers and acquisitions
The success of any company in the From the perspective of mergers and
nutraceutical industry is dependent on their acquisitions, there has been a lot of activity
compliance with the regulatory requirements. for both the small and the large entities. This
This includes their GMP’s or good manufacturing has involved a great deal of consolidation as
practices and the proper management and the small and medium companies have been
handling of their supply chains. Any company acquired by the larger businesses. This may
employing questionable tactics in their be the beginning of future investments in new
marketing strategies or sketchy science will ingredients, science and technology. There may
most likely fail. This leads to negativity in the be a price for the positions taken by many of
mainstream media by the industry critics. This the largest market brands during the last few
criticism can be dispelled by accountability and years. Very few of their ingredients met any of
transparency. There is a product registry for the requirements and some did not meet any.
dietary supplements called the Online Wellness Instead of new launches, old products were
Library. This was created to provide a complete simply rehashed.
picture of the online nutraceutical market for the
industry, retailers and market. To be successful, The good news is nutraceutical startups are
the corresponding businesses must adhere to being granted huge funding. These businesses
these guidelines. These businesses will have are willing to take calculated risks. They are
consistently increasing sales in the future. using specific strategies to target their market.
This is already making a differences in sales
derived from direct marketing campaigns. The
the Most important aspects for the best part is, this has been accomplished without
Future the need to severely discount any of their
products. Most of 2018 has already passed but
The guidance of the FDA regarding the
nutraceutical industry remains unclear for the numerous advances are expected for the year
2019. Many of these are expected to be in the
future. The agency had made some efforts social and digital sectors. The only uncertainty
to establish new notifications for the dietary is which breakthroughs will have the biggest
ingredients. Despite this, the last definitive list impact on the nutraceutical industry in the
dates back to October 15th of 1994. This was upcoming year.
the year the Dietary Supplement Health Act

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