Nutritional Supplements Grew by 8 % in the U.S. in 2012, States Packaged Facts10 Oct 2012 • by Natalie Aster
Throughout the recession and its “New Normal” aftermath of frugal spending, the nutritional supplements market held steady as Americans embraced supplements as less costly alternatives to pure-play medical options such as doctor visits and prescription medications. During 2012, supplement sales rose 7% to $11.5 billion, and are forecasted to reach $15.5 billion by 2017.
Now, with U.S. consumers beginning to loosen their budgetary belts, nutritional supplement marketers must work to keep their products integral to consumer health regimens. Key to this pursuit are targeted products featuring highly publicized ingredients that are solidly backed by science and take a page from functional food competitors.
At the same time, supplement marketers must use adroit target marketing on their prime demographics: those over age 65 and the up-and-coming aging Baby Boomers currently swelling the senior brackets. Nor can the industry take its eye off the younger demographics who are its longer-term future but whose supplement usage rates have been declining, or the emergent Hispanic population, whose supplement usage rates are below average but gradually rising.
Marketwide, product efficacy and credibility remain crucial, with supplement developers increasingly relying on scientific evidence supporting the benefits of taking nutritional supplements to bolster the industry’s image in the eyes of consumers and of the healthcare practitioners who advise them. With market regulation and scrutiny at an all-time high, it’s more important than ever for the industry to produce and feature products with substantiated health benefit claims.
In this vein, condition-specific supplements continue to grow in range and importance, and will remain a key driver of sales and new product development across myriad segments including joint, brain, heart, and beauty, with many of these products honing in on age-related issues. At the other end of the condition-specific spectrum, children’s supplements have been doing well, demographically book-ending the overall market in way that suggests solid future prospects.
The “Nutritional Supplements in the U.S., 5th Edition”, a fully updated Packaged Facts report, examines the market for nutritional supplements within the context of broader health and beauty care trends in new product development and marketing, including vitamins, minerals, herbals, homeopathics and combination products. It charts industry sales and composition, providing retail sales breakouts for four main product categories (general supplements, multivitamins, 1 & 2 letter vitamins and liquid supplements) and for over a dozen condition-specific segments (children’s, joint health, calcium/bone health, eye health, women’s, vitamin C/immunity, digestive health/probiotic, men’s, brain health, heart health, omega, cosmetic, energy, and CoQ-10).
Nutritional Supplements in the U.S., 5th Edition
Published: September, 2012
Price: US$ 3.500,00
The report thoroughly examines market drivers, the competitive situation, mass-market marketer and brand shares, marketing trends (including product illustrations), and consumer trends. Key data sources include a proprietary Packaged Facts national consumer survey conducted in August 2012; Experian Simmons national consumer surveys covering category and brand usage levels and trends as well as demographic and psychographic patterns; and Information Resources, Inc. InfoScan Reviews, quantifying nutritional supplement marketer and brand shares at the mass-market level across four product categories.
More information can be found in the report “Nutritional Supplements in the U.S., 5th Edition” by Packaged Facts.
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