The supplement 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 supplement 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 will likely apply to most dietary supplements containing ingredients from China. Supplement manufacturers can’t easily replace these ingredients without increasing costs.
Private labels, direct-to-consumer start-ups, personalization, and digital retail are changing the industry. Consumers have more choices on how they purchase supplements.
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
“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
Our customers find that most of their suppliers are already in TraceGains Network.