We may be enduring what has been said to be the worst recession since the Great Depression of the 1930s – but there is a bright light shining in the darkness:  the nutraceutical industry is booming.

Through difficult times, people know they need to be as healthy as possible to withstand tough pressures and the inordinate stress.  Today, many people understand that dietary supplements and functional foods are good, and they firmly believe that taking nutraceutical products can keep their doctor visits and pharmacy bills down.

The Freedonia Group, a leading market intelligence firm, just released data from a new report, “World Nutraceutical Ingredients.” The report asserts that the U.S. will continue to be the largest global consuming nation of nutraceutical ingredients for the next five years, reflecting the continually burgeoning array of functional beverages/foods, natural remedies and dietary supplements. North American demand for nutraceutical ingredients will rise from a market value of $3824m in 2008 to $4890m by 2013, predicts the report. Annual growth in the market will decrease slightly from 7.7% last year to 5% in four years.

Worldwide demand of nutraceutical ingredients are expected to reach $21.8 billion by 2013.

We believe that production and innovation, along with increased investments in research that proves safety and efficacy will drive continued growth and success in the industry.

For more information about the report, see The Freedonia Group website: www.freedoniagroup.com

**This post was written by Anh Thu Tran, MD, MS, a Nutrition Consultant, who is new to the nutraceutical industry and gives her perspective on attending SupplySide West for the first time**

In the midst of the staggering crowds and rows of company booths, I was introduced to the world of Nutraceuticals at the SupplySide West Trade Show –Las Vegas, Nevada, November 2009.  As expected, the Sands Convention Center displayed companies of all aspects of the industry; converging the supplier, the finished product, and laboratory/equipment companies that serve the former two.  I was also delighted to see a non-profit organization utilizing this medium to share their role in the industry.  In a technologically advanced business of the e-mail, fax, voicemail, teleconference, worldwide web, etc., companies give-up the benefits of the hand-shakes and face-to-face meet and greets.  This forum gave an opportunity to create new relationships and to maintain already established ones.  The key element of the trade show was not necessarily in the immediate sale, but rather to develop the relationships and/or to continue already discussed matters needed for the potential eventuality of business.

As I made my way to the Cyvex Nutrition, Inc. booth, I saw the variety in representation of each company based not only in the size and history of the company, but also culturally.  I literally was walking through the “world” of Nutraceuticals.  It was also interesting to observe the dynamics of the company representatives and how that may reflect on their business.  Cyvex Nutrition’s unified shirts, smiles, and approachable representatives of all aspects of the company as a whole was brought up as a beneficial quality of the booth compared to others (e.g. We had representatives in sales & marketing, a supplier, and product literature, etc.).  The simple, clean, and crisp aesthetic appeal of Cyvex Nutrition booth allowed attendees to not get cluttered with information, but to visually get a hint of the company’s focus, which subsequently lead to requesting further information from a representative.  As I made my way through other booths, I realized I was looking for the similar aspects in other booths, may it be in the product line and/or presentation.  Many booths enticed attendees with give-a-ways and demonstrations, but really failed to make attendees take that second step to inquire about their products.  It was surprising to me that many representatives did not have the knowledge base of their product as I had hoped.  Others represented their company with simply their name and space, creating no reel to attract attendees.

As a novice attendee, I found myself exploring and learning, rather than what I noticed in others, approaching a booth with intent and purpose.  I feel that my 2 days only hit the tip of the magnitude of the Nutraceutical Industry.  I have always known the impact nutraceuticals has had on optimal nutrition and health, but this experience has expanded my perspective and attitude to the current and potential role this industry has and will take in my career.   As I reflect back to this experience– there is a need for someone of my background and career path in nutrition and medicine to understand this field, not only for the industry’s sake, but for the benefit of the consumer, my future patient /clients.  I hope with my growing understanding of this industry, I will be able to help bridge the gap between mainstream medicine’s approach with that of nutraceuticals – benefiting both tremendously.