Vitamin and Supplement Category Deep Dive

Goals

To understand key growth categories of vitamins and supplements and their projected market size/share and emerging trends that are expected to impact these categories with any relevant financial projections in the next one to three years in order to begin white space analysis for a client.

To understand the competitive landscape for the vitamin and supplement industry to include information on companies that are positioned for growth and their projected market size/share as well as new brands with promising business models in order to begin white space analysis for a client.

Early Findings

Our background research on the vitamin and supplements industry revealed insights. Here are some key pieces of information we found:

Key Growth Categories

  • The vitamin and supplements industry is continuing to experience growth overall in the US as Americans become more health-conscious and new products are introduced.
  • Vitamin and supplement manufacturing in the US industry consists of: vitamins and minerals, herbs and botanicals, specialty, sports nutrition, and meal supplements.
  • Key growth categories globally are weight management supplements and sports nutrition.
  • The popularity of herbal supplements is another key growth category that is anticipated to globally "drive market growth in the future."

Emerging Trends

  • Worldwide, "rising consumer awareness about preventive healthcare and the rapidly rising geriatric populace is likely to contribute substantially towards the dietary supplements market revenue over the coming years", and global revenue for the dietary supplements market is set to reach US$ 220.3 billion dollars by 2021.
  • Increased media coverage of health and wellness and advertisement of products is also an emerging trend that will "generate lucrative demand" globally for vitamins and supplements in the near future.

Proposed next steps:

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