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Bharatbook
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| 05/26/2008 6:40 AM |
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This Market Report Plus covers the UK market often referred to as `natural products', which comprises vitamins, minerals and supplements (VMS); alternative remedies; and specialist supplements (including specialist slimming products and sports supplements). Following a retrenchment of sales during the early part of the decade (to 2001), particularly in the VMS sector, there has since been a good recovery. In 2004, the total UK market for natural products, as defined by this report, was worth £797m at retail selling products (rsp), a rise of 8.3% on 2003.
The decline in the VMS sector was due mainly to the considerable uncertainty facing the industry as a result of impending European legislation, coupled with adverse reports questioning the efficacy of some supplements. Growth within the alternative remedies sector also slowed between 2001 and 2003, but the market picked up slightly during 2004. Over the same 5-year period (2000 to 2004), the specialist supplements sector grew slowly but steadily, although sales of specialist slimming products are now being affected by the ending of the short-lived enthusiasm for very-low-carbohydrate eating plans, such as the Atkins diet.
EU legislation intended to harmonise regulations for the sale of natural products continues to make its mark on the industry. In fact, legislation is the single largest factor affecting the market, particularly in the case of higher-dose and more specialist products.
The specialist natural products industry only learned in July 2005 that its challenge to the Food Supplements Directive (FSD) — which contains a list of vitamin and minerals that may be used in the manufacture of food supplements, effectively banning many long-established products from the UK market — had been unsuccessful. The FSD came into force on 1st August 2005, with all products with ingredients not on the `approved list' having to be withdrawn from sale by the end of 2009. In addition, the industry faces further problems in the near future, with other aspects of the FSD due for implementation, as well as more pending European legislation affecting herbal medicines and sports supplements, among others.
It is highly likely that the uncertainty caused by European legislation, and its fall-out in terms of the availability of natural products, will cause a slowdown in the market, at least in the short term. Despite this, Key Note forecasts that reasonable year-on-year growth will be maintained in the natural products market over the next 5 years (to 2009).
http://www.bharatbook.com/detail.asp?id=9805 |
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