Vitamins & Supplements 23/24: Sector Outlook
While growth is slowing, the pandemic swept new consumers into the sector and helped cement supplements’ role in wellness regimens. We highlight the latest category hotspots (with a particular focus on performance nutrition), explore how format preferences are evolving and chart how brands are engaging with customers through companion digital platforms – signalling a key direction for supplements.
Sector in Flux
Supplement Hotspots
Non-Pill Formats Proliferate
Digitally Delivered Holistic Care
Growth is stalling as the sector normalises following a pandemic-era boom (read V&S 2021: Sector Outlook) and confronts inflation-weary shoppers. But with more consumers having developed a supplement habit – which they see as integral to their health regimens – companies outside the sector are now widening their wellness remit by launching supplements.
Growth is stalling as the sector normalises following a pandemic-era boom (read V&S 2021: Sector Outlook) and confronts inflation-weary shoppers. But with more consumers having developed a supplement habit – which they see as integral to their health regimens – companies outside the sector are now widening their wellness remit by launching supplements.
Summary
Sector in Flux | Growth is stalling as the sector normalises following a pandemic-era boom (read V&S 2021: Sector Outlook) and confronts inflation-weary shoppers. But with more consumers having developed a supplement habit – which they see as integral to their health regimens – companies outside the sector are now widening their wellness remit by launching supplements. |
Supplement Hotspots | Several sub-sectors are booming, most notably performance nutrition (often a gateway to supplements for younger consumers) and joint care – both of which are shifting their focus to broader audiences. Products addressing key overlooked needs of women and children are also doing well. |
Non-Pill Formats Proliferate | The gummy boom triggered a shift away from pills, as explored in The Future of Vitamins & Supplements. While US sales of tablet supplements dropped 7%, and softgels declined 4% year-on-year in March 2023, powder products are now soaring (Spins, 2023). Look also to candy-like formats and other concepts straddling the food/supplements line. |
Digitally Delivered Holistic Care | Forward-thinking companies are positioning their supplements within branded ecosystems that use data derived from wearables, biomarker testing and/or behavioural science techniques to help customers reach their wellness goals and optimise routines. This strategy acknowledges that supplements alone aren’t a cure-all and positions brands as health coaches through companion digital platforms. |
Vitamins & Supplements 23/24: Sector Outlook
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Offering access to over 350 consumer and cross-industry reports annually, Stylus Membership is your window to tomorrow’s most exciting opportunities.
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