The regulatory gap is narrowing between nutritional supplements, food, personal care, and OTC Pharmaceuticals. Increasingly the FDA and other regulatory bodies are forcing compliance issues formerly reserved for big pharma into the corporation making up this segment of the consumer goods market.
The Consumer Healthcare Products market is ~$197 billion dollars, with OTC drugs accounting for $94 billion, vitamins and dietary supplements worth $82 billion, weight management products worth $13 billion and sports nutrition at $8 billion. These four main categories helped propel the consumer health category’s growth as a whole by an impressive 11% from 2007-2013, with OTC growing 6%, vitamins and supplements at 17%, weight management at 5% and sports nutrition growing a remarkable 41%.
The top global players in this segment include GlaxoSmithKline, Pfizer Consumer Health, Sanofi-Aventis Consumer Health, Bayer Consumer Health, Johnson & Johnson, Procter & Gamble, Unilever, Reckitt Benckiser and others. While many top companies are owned by big pharma companies, the consumer health category must operate in the hyper competitive fast moving consumer goods business and be careful not to be mired down by the typically bureaucratic big pharma culture of the parent company in order to service the demanding retailers and consumers alike.
The Hunt Group is actively connected and engaged in the consumer healthcare products markets representing several global clients in the category and through leadership roles and participation in the Grocery Manufacturers Association (GMA), National Association of Chain Drug Stores (NACDS), Personal Care Products Council, Consumer Healthcare Products Association (CHPA), and the Consumer Specialty Products Association (CSPA).
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