|
• About Us: Vision
• WellGen Overview
• Nutrition Market
• Leadership: Management
• Leadership: Board of Directors
The Market Opportunity
WellGen's immediate opportunities arise from the sizeable global commercial marketplace that includes dietary supplements and functional foods and beverages. The global nutrition industry, which includes functional food, dietary supplements, natural personal care and organic food generated sales of $182 billion in 2003 and grew at a rate of 8.4%. The functional food and natural personal care markets each grew 9% in 2003 and dietary supplements grew 6%. Part of functional food consists of global functional beverages, a $12.5 billion market with more robust growth rates than retail food or beverages, growing at a rate of 6.4% in 2003.
Source: Nutrition Business Journal
Additional opportunities lie in the pet and drug markets. The global prescription and non-prescription drug market exceeded $400 billion in 2002 and is expected to exceed $600 billion by 2007. The pet food market was $35 billion in 2003. The pet food market experienced the greatest growth among these industries, up 13% in 2003.
|
