If the last decade is any indication of future success, the supplement market will continue to boom in the United States and across the globe. Worldwide sales of vitamins and dietary supplements through all channels total about $85 billion
in sales with the U.S. containing the largest market share and Asia seeing the fastest year over year growth. The United States Food and Drug Administration (FDA) cites 3 reasons for the accelerated growth within the supplement industry:
- Growing economies where consumers have higher incomes at their disposal
- Growing awareness about nutrition and wellbeing
- Higher number of people being diagnosed with chronic and lifestyle diseases
When deciding on a supplement it depends on what the individual is looking to accomplish. Are they looking to increase their iron intake? Do they need a higher intake of Omega-3, which would require taking fish oil pills? Or are they an athlete who experiences cramps during or after a workout?
At Black & Redd Solutions, we are a bit biased, as one of our key clients, Mag-on, is eyeing their market entrance and strategically planning their rapid U.S. expansion in the coming months. Black & Redd has compiled market research through our own contacts and the following is what we have found. Expanding into a new region, or country, requires in-depth market research and this is a service provided by Black & Redd Solutions.
Mag-on is a lemon flavored soluble magnesium made with pure seawater that can be added to water and provides an athlete with an additional boost to get through a rigorous workout. It works with body functions related to physical activities such as muscle contraction, oxygen intake, ATP production, and it’s used to maintain electrolyte balance.