Dietary Supplements Industry
An Economic Powerhouse Facing Challenges
The supplements market is a growing economic powerhouse worth as much as $194 billion by some estimates. According to a report from the Center for Responsible Nutrition, more than three-quarters of American adults - or about 170 million people - take dietary supplements regularly. The National Institute of Health, which maintains the Dietary Supplement Label Database, calculates that there are about 76,000 different dietary supplements currently on the market. While there are tremendous opportunities, there are also challenges facing supplements manufacturers and brand owners.
In recent years, regulatory scrutiny has increased in the U.S. with more legal actions taken by regulatory bodies and class-action attorneys, many resulting in serious penalties.
Tariffs on Chinese Goods
Tariffs will likely apply to most dietary supplements containing ingredients from China. Supplement manufacturers can’t easily replace these ingredients without increasing costs.
Fragmented Retail Channels
Private labels, direct-to-consumer start-ups, personalization, and digital retail are changing the industry. Consumers have more choices on how they purchase supplements.
Dietary Supplements Companies Have a Choice
TraceGains Delivers Digital Transformation
A central repository for supply chain data and documents with automated workflows.
Reduction of regulatory audit preparation time and consistently positive audit outcomes.
Clarity and visibility on the compliance status for every supplier and ingredient.
Share with customers where every material is sourced by forwarding documentation.
Documentation is digitized with data extracted and transformed into configurable dashboards.
Streamlined and professional communication across internal and external stakeholders.
Fast supplier approval with immediate access to the required documentation.
Search for ingredients, products, and services based on country of origin, organic, and more.
Compliance Automation and Better, Faster Innovation
“With TraceGains, we have clarity and visibility on the compliance status of every supplier and material. We can now tell customers where every material came from — including a full audit report. Growing our business depends on having that level of traceability and compliance."
– Tom Dubinski, VP of Quality Systems
Take Control of Your Supply Chain
Our customers find that most of their suppliers are already in TraceGains Network.