Brandon Casteel | Consumer Trends: Vitamins & Supplements + Sports Nutrition
UNPA Members' Retreat 2024
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28m
Brandon Casteel presents an overview of trends in the vitamin and supplement industry based on data from Spins, a market research company.
Key points include:
1. Spins aggregates point-of-sale data from over 120,000 brick-and-mortar stores in the US, as well as some e-commerce platforms.
2. Overall, the vitamins and supplements category is up 4% year-over-year, with performance nutrition and superfood supplements showing the highest growth.
3. Hydration is the fastest-growing health focus, up more than 50% year-over-year.
4. Gummies are declining in sales, while soft gels and powders are growing.
5. Minerals, especially magnesium, are showing strong growth within the vitamins and minerals category.
6. Women's health-specific supplements are flat overall, but products focused on hair, skin, and nails are growing over 100%.
7. Natural pre-workout supplements are growing rapidly, while traditional pre-workouts are declining.
8. Weight loss-specific supplements are declining, possibly due to the rise of GLP-1 medications and regulatory changes.
9. Protein supplements and meal replacements continue to grow, with protein appearing in more diverse product categories.
10. Functional beverages are growing at twice the rate of vitamins and supplements, with ingredients like mushrooms and ashwagandha being incorporated.
Brandon emphasizes the importance of understanding consumer trends and the potential impact of social media and influencer marketing on the supplement industry.
Slides here: https://drive.google.com/file/d/105l66ZzDJMmtsBgeOaNv11wmoY9hg59L/view?usp=sharing
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