Are you searching for the next great investment that promises to grow for years to come? The vitamin supplement business is quickly becoming one of the most profitable markets in the world. In 2014, Americans spent over $60 billion on vitamins, and supplements. This year, health experts predict an increase in weight loss supplement sales instore and online. Now is the time for progressive entrepreneurs to investigate the vitamin supplement sales arena.
Vitamin supplements have become a part of the American landscape. According to CNN, over half of the American adult population uses a vitamin supplement. Some of the most popular supplements are multivitamins, and their biggest audience are older adults searching for safe alternatives to essential nutrients like Vitamin D and folic acid.
Companies like Arm & Hammer, Proctor and Gamble, and Pfizer Inc., have recently invested in dietary supplements. The appeal of vitamin supplements is simple. From the demand side, consumers want them, and are willing to pay a lot of money to look and feel healthier. From a supplier’s perspective, vitamins are a great investment due to an increasing demand for the product, and because supplements avoid the tough scrutiny of U.S. regulatory laws.
A spokesperson for Olay vitamins gave a brief explanation for the boom. She noted that today’s consumer is more health conscious and want to focus on preventative care. This has created a market that can no longer be ignored by large pharmaceutical or consumer – products companies, which experts predict will be battling it out in the coming years.
Last year, consumers spent over $23 billion in the United States alone and sales are predicted to increase by 5% to 7% in the following years. Consumer spending over the web has also increased in the vitamin supplement field with the majority of e-commerce spending being charged to credit and debit cards. This is good news for payment processors.
Currently, consumers still prefer vitamin supplements from well-known or independently owned sources. This means that the time is now for new and independent vitamin supplement merchants to establish vitamin supplement merchant accounts. Contact us to learn how you can start your vitamin supplement account.