Table of Contents
Overview
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- What you need to know
- Definition
Executive Summary
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- Overview
- VMS market growth remains steady
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- Figure 1: Total US sales and fan chart forecast of vitamins, minerals, and supplements, at current prices, 2013-23
- The issues
- Prior experience is the strongest influencer among key consumers
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- Figure 2: Previously used brand as purchase influencer, by age, June 2018
- Value-driven young adults are the future of the market
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- Figure 3: Agree - usually buy store brand, by age, June 2018
- Medical professionals lack engagement in VMS market
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- Figure 4: Agree - would be helpful if doctor recommended specific brands of VMS, by age, June 2018
- The opportunities
- Focus on functional benefits; stay current with health trends
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- Figure 5: Reasons for taking a vitamin, mineral, or supplement, June 2018
- Deliver on short-term benefits to appeal to young adults
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- Figure 6: Select reasons for taking a vitamin, mineral, or supplement, by age, June 2018
- Consumers want guidance
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- Figure 7: Important to describe benefits for taking specific VMS, by age, June 2018
- Brand messaging should be more inclusive
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- Figure 8: Select important product factors, by total and Black, non-Hispanic, June 2018
- What it means
The Market – What You Need to Know
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- Steady growth will persist
- All segments growing, supplements post largest gains
- Functional food and drinks impede on need for OTC VMS
- High consumer confidence a positive indicator
- Sleep issues lend themselves to VMS opportunities
- Take into account growing US diversity
Market Size and Forecast
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- VMS market growth remains steady
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- Figure 9: Total US sales and fan chart forecast of vitamins, minerals, and supplements, at current prices, 2013-23
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- Figure 10: Total US retail sales and forecast of vitamins, minerals, and supplements, at current prices, 2013-23
Market Breakdown
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- All segments post gains
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- Figure 11: Total US retail sales and forecast of vitamins, minerals, and supplements, by segment, at current prices, 2013-23
Market Perspective
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- Functional food and drinks impede on need for OTC VMS
Market Factors
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- Sustained high consumer confidence a positive indicator
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- Figure 12: Consumer sentiment index, January 2007-April 2018
- Sleep issues are prevalent; impact energy levels
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- Figure 13: Internal sleep aid usage and interest, December 2016
- Multicultural consumer growth highlights the need for varied approaches
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- Figure 14: Population by race and Hispanic origin, 2013-23
Key Players – What You Need to Know
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- Free-from claims grow along with brands targeting digestive, mental, and eye health
- Private label is making inroads
- Crowded market and changing children’s trends challenge brands
- Beauty, brains, and getting up in the morning
What’s In?
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- Free-from claims on the rise
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- Figure 15: Vitamins and dietary supplements launches with a “free from” claim, rolling years September 2013-August 2018
- Seeking digestive balance
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- Figure 16: Total US Sales growth and forecast of probiotics, at current prices, 2012-21(est)
- Treating mental health by relieving stress
- Supplementing eye health
- Private label making gains, yet needs to continue to be nimble
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- Figure 17: Agree - usually buy store brand, by age, June 2018
What’s Struggling?
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- How to stand out in a jam-packed market
- Mainstay kid brands struggle in the face of natural preferences
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- Figure 18: Multi-outlet sales of select kid focused vitamins, rolling 52 weeks 2017 and 2018
What’s Next?
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- Beauty trend spotlight: collagen supplements
- Give the brain a natural boost
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- Figure 19: Awareness of nootropic cognitive supplements, June 2018
- Help consumers rise and shine; and also establish a VMS routine
- Innovation spotlight
- Updating the delivery system
- At home tests determine optimal VMS mix
The Consumer – What You Need to Know
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- VMS use is established
- VMS fill in the wellness gaps for the majority, specific benefits appeal
- Previous experience drives purchases
- An online presence is essential for VMS brands
- Guidance wanted, premium quality required, customization for the young
- Solid interest in doctor direction, mental health, and beauty benefits
Product Usage
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- Use is prevalent
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- Figure 20: Usage of vitamins, minerals, and supplements, June 2018
- A person’s age is linked to their VMS usage
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- Figure 21: Usage of select vitamins, minerals, and supplements, by age, June 2018
- Young women are pursuing a beauty boost
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- Figure 22: Usage of beauty supplements, by gender and age, June 2018
Reasons for Use
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- Covering the general health bases is a given; focus on the differentiators
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- Figure 23: Reasons for taking a vitamin, mineral, or supplement, June 2018
- Younger adults want specific, short-term benefits
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- Figure 24: Select reasons for taking a vitamin, mineral, or supplement, by age, June 2018
- Dads are looking for peace of mind, but also defined boosts
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- Figure 25: Select reasons for taking a vitamin, mineral, or supplement, by parental status, June 2018
- Deliver on functional benefits for Black and Hispanic consumers
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- Figure 26: Select reasons for taking a vitamin, mineral, or supplement, by race and Hispanic origin, June 2018
Brand Purchase Influencers
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- Tried and true is the strongest influencer
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- Figure 27: Brand purchase influencers, June 2018
- Older adults stick with what’s familiar; younger adults want guidance
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- Figure 28: Select brand purchase influencers, by age, June 2018
- Young adults seek natural options
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- Figure 29: Brand purchase influencer - natural brand, by age, June 2018
- Asian adults drawn to a sale
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- Figure 30: Sale influence purchasing of specific brand, by race and Hispanic origin, June 2018
Online Information Sources
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- An online presence is essential for VMS brands
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- Figure 31: Online information sources, June 2018
- Young adults are online savvy; WebMD is the age equalizer
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- Figure 32: Online information sources, by age, June 2018
- Connect with Hispanic consumers through social media
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- Figure 33: Use of social media to learn about VMS, by race and Hispanic origin, June 2018
Important Product Factors
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- Guidance wanted, premium quality required
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- Figure 34: Important product factors, June 2018
- Young adults demand more (but at a value price)
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- Figure 35: Select important product factors, by age, June 2018
- Customization preferences decrease with age
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- Figure 36: Importance of customized and subscription service features, by age, June 2018
- Benefits and customization reach Black consumers
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- Figure 37: Select important product factors, by total and Black, non-Hispanic, June 2018
Trend Perceptions
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- Personal medical endorsement desired
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- Figure 38: Agree - would be helpful if doctor recommended specific brands of VMS, by age, June 2018
- Interest in supplements to enhance mental health is strong
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- Figure 39: Agree - interest in supplements for mental health, by age, June 2018
- Drop the “beauty” and focus on specific appearance benefits
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- Figure 40: Interest in beauty-related supplements, June 2018
- Don’t forget about (young) men
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- Figure 41: Agree - interest in beauty related supplements, by gender and age, June 2018
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Fan chart forecast
- Consumer survey data
- Abbreviations and terms
- Abbreviations
Appendix – The Market
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- Figure 42: Total US retail sales and forecast of vitamins, minerals, and supplements, at inflation-adjusted prices, 2013-23
- Figure 43: Total US retail sales and forecast of vitamins, minerals, and supplements, by segment, at current prices, 2013-23
- Figure 44: Total US retail sales of vitamins, minerals, and supplements, by segment, at current prices, 2016 and 2018
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Appendix – Key Players
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- Figure 45: Multi-outlet sales of vitamins and minerals, by leading companies, rolling 52 weeks 2017 and 2018
- Figure 46: Multi-outlet sales of vitamins, by leading companies and brands, rolling 52 weeks 2017 and 2018
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- Figure 47: Multi-outlet sales of minerals, by leading companies and brands, rolling 52 weeks 2017 and 2018
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Appendix – The Consumer
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- Figure 48: TURF Analysis – Important product factors, June 2018
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- Figure 49: Table – TURF Analysis – Important product features, June 2018
- Methodology
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