Record growth supplement market
The supplement market has been growing continuously since 1997 but nothing compares to its sudden spike in 2020. Due to the global pandemic, consumers are more and more conscious of their diet and general health.
A newfound awareness for one’s wellbeing has driven the demand for healthy supplements to the roof, directly effecting the global supplement industry. Due to a never-before need the supplement market in the U.S. saw a record growth of 14.5% in 2020 alone, reaching $56B. A growth of 14.5% is equal to $7B, that’s the same amount as the United Nations yearly peacekeeping operations or U.S. Halloween spending in 2015!
From a broader point of view, we can also see positive data about the global supplement market: 9.7% growth in 2020 reaching a new record of $156B. This spike in supplement consumption may be sudden but it is not surprising considering the fact that health was the star of most major headlines and discussions last year, causing in the U.S. alone the cold, flu and immunity market to grow by 72% surpassing the $5B benchmark. Experts from the NBJ believe this trend is here to stay and agree that a strong growth in the general health category is set to continue. Considering all this information PERSONALIZED NUTRITION is the next phase in condition driven supplements. Its growth is enormous, at around 50% in 2020 in the U.S.
Survey based nutrition still makes up the majority of the personalized nutrition market meanwhile the historical top 2 categories of supplement sales, vitamins and herbs & botanicals led the market with the strongest growth rate: vitamins grew 22%, herbs and botanicals grew 17%. This data combined with the fact that more and more consumers shop from home has skyrocketed online sales and e-commerce increasing growth by 87,3% in 2020 and considering the fact that many people are expected to continue shopping online once the pandemic is over makes it a very interesting and lucrative business to explore. This is where we come in, at IPRONA we are dedicated to creating and perfecting tailor-made beverage solutions for our customers. And with our one of a kind branded CurrantCraft®; ElderCraft® and CherryCraft® product line we can offer a product that has a purely European supply chain, is fully traceable and has beneficial natural effects that have been proven by clinical studies. ElderCraft® improves the immune system, Currantcraft® benefits mental performance whereas Cherrycraft® helps recovery post-exercise.
If you are interested in the implementation of these health product ideas, or if you would like to work on an individual development project, taking advantage of our expertise and experience, please do not hesitate to contact us.
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