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 – regularly take dietary supplements. The National Institute of Health, which maintains the Dietary Supplement Label Database, calculates that there are more than 76,000 different dietary supplements on the market today. While there are tremendous opportunities, there are also challenges facing supplement manufacturers and brand owners.
Regulators are increasingly interested in the supplement business. And American consumers overwhelmingly support stricter regulation of dietary supplements, including requirements that dietary supplements makers provide the FDA a list of products and ingredients.
Developing new dietary supplement products is complicated enough already. But smart manufacturers need to stay ahead of regulatory scrutiny, especially in the wake of CBD’s sudden popularity.
Researching ingredients to back up label claims has always been a slow process for supplement manufactures that’s involved reviewing catalogs, searching the internet for information, and calling suppliers for samples.
But what if you could create and manage specifications, qualify suppliers, scorecard them, quickly find the ingredients that match your specifications, compare CoAs to lab results, and immediately know if all compliance documentation was complete and up-to-date, receive instant alerts on any supply chain threat, and easily manage your label claims. Would you want to live in that world or stay where you live right now?
“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