The growth of nutraceutical supplements is one of the defining stories in alternative healthcare because more and more people across America are becoming conscious of healthy living. This not only means regular exercise and physical activity and healthier diet but also intake of dietary supplements. These dietary supplements compensate for the deficiency in certain minerals and vitamins that are needed to stay healthy and ward off illnesses.
Today, the US supplements market is worth around $45 billion and is growing at around 8-9% annually. That’s a huge market size for a newly developing industry, which is going to grow even faster in the days ahead. The industry is characterized by private label manufacturing wherein the branding and marketing is owned and managed by resellers.
Easy for newcomers to own a supplement brand
Unlike most other industries, the white label CBD market is structured to make it as easy as possible for newcomers to enter. There are two primary sides that you could choose in order to enter the dietary supplements market – as a reseller with branding rights or as a manufacturer.
It is very rare for newcomers to get into private label supplement manufacturing because of the huge capital investment required but it is not unheard of. The most popular mode of entering the supplements market is in the capacity of a reseller wherein you get the branding rights for the specific products you want to sell.
The key is to find the right manufacturing partner
It is really a convenient deal that private label CBD manufacturers offer to the resellers. You will get the product with the right to brand, market and sell, while the production is taken care of by your manufacturing partner. You will obviously have to agree to a procurement price with the manufacturer and then decide the markup to sell it.
Do your research about the industry and speak to people with industry experience to gain enough knowledge that will help you to ask the right questions to your marketing partner. They should be legitimate and have all the necessary certifications to operate as private label supplement manufacturers. Most importantly, they should have Food and Drugs Administration (FDA) and Good Manufacturing Practices (GMP) certifications.
Look for manufacturers who offer turnkey services
As a new entrant into the world of business, there couldn’t be a better start for you than to get branding rights to sell products manufactured by private label supplement manufacturers. However, as a new entrant with limited investments to make it would be ideal if you did not have to worry about inventory cost.
You may ask, ‘How is that possible?’ Rest assured, you can get your private label dietary supplement manufacturer to provide you with turnkey or end-to-end services. It means, your manufacturing partner will design and fabricate the packaging, design and print the labeling, fill and seal the products, and dispatch it to your customers.
When you have that kind of a manufacturing partner, you not just get the freedom to focus on brand building, marketing and selling high quality supplements but also make suggestions. For instance, cannabidiol or CBD-based supplements are fast gaining popularity in the market and you may ask your manufacturing partner to supply you private label CBD supplements.