Laws for Nutraceutical Companies in Florida
Florida Laws Governing the Nutraceuticals Industry
Nutraceuticals is now a billion-dollar industry that’s projected to reach $133.4 billion by 2025. Because of the demand in the market for supplements that help people lose weight, improve their health, and just live a better lifestyle, a lot of entrepreneurs are starting their own nutraceuticals business in states like Florida where there’s a huge demographic for these products.Now if you want to start an online nutraceuticals business in Florida or anywhere else in the country, you need to start by learning about the rules that will allow you to operate legally in the state.
Nutraceuticals Industry Rules & Regulations in Florida
Labeling Nutraceuticals Properly
With the nutraceuticals industry growing at lightning speeds, there is also a huge risk for unregulated products circulating on the market. That is why the FDA has regulated the labeling of dietary supplements on a federal level through the agency’s Center for Food Safety and Applied Nutrition (CFSAN). As an entrepreneur, you need to understand the rules on proper labeling in Florida to ensure that you comply with them. In fact, proper labeling should be at the top of your list if you’re getting into the nutraceuticals business in 2021. According to the FDA, proper labeling of all dietary supplements should contain information like a statement of identity, net contents, name, and address of the manufacturer or distributor, supplement facts panel, directions for use, and other necessary ingredients. It’s also important to include country of origin markings, as this will be checked by Customs and Border Patrol. Any issues with a product’s labeling should be reported to the FDA within 30 days after it is released on the market.
Vitamin & Supplement Ingredients
The FDA doesn’t review nutraceutical products, but it issues regulations about the labeling, registration, and, of course, ingredients that businesses need to comply with or risk losing their right to operate their business. Before you start manufacturing your supplements, you need to understand that the FDA requires that all the ingredients in a dietary supplement have to be permitted for use either through a new dietary ingredient application or exemption. Your facility may also be required to register with the FDA under the Bioterrorism Act.
Nutraceutical Claims and Marketing
No nutraceutical companies should make claims about their products being able to cure, prevent, or diagnose diseases. Both the FDA and FTC work together in regulating promotional materials and marketing campaigns by reviewing websites, infomercials, and product brochures – even for top-selling nutraceuticals – to make sure that they comply with the regulations of the agency. To avoid any problems regarding these matters, it’s very important to create marketing materials that don’t make any claims and focus on how a product can help consumers with their needs.
Florida is implementing stricter laws for nutraceuticals businesses to not only protect consumers but also to help businesses run their operations safely. So if you are planning to start your own business in the nutraceuticals industry, it would be a smart move to learn all about the nutraceuticals business laws in Florida, then open a high-risk merchant account with a reputable credit card processor.
Contact us today to schedule a free consultation to set up payment processing for your nutraceuticals business with First Card Payments.
My interest in the financial world started to blossom in High School. However, my parents tell me I use to watch financial programs before the age of 5. So, I guess I was born with the Financial bug. In high school I was accepted into their Finance Academy, which I attended for 4 years. In addition to graduating high school, I accumulated a substantial amount of financial knowledge few people experience at such a young age. During which time, I won the State of Florida Stock Market Contest and I also finished in the top 100 in the CNBC stock market contest which had over 1 million participants throughout the country (including some of Wall Street’s elites) with a take home prize of $1 million. These achievements allowed me to be invited to many shows and events with top people in their fields of business from around the world.