Vitamins & Supplements 23/24: Sector Outlook
Published 31 May 2023
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.
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.
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.
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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