The global supplement and vitamin industry market size is expected to experience an imposing growth in the coming years.
While several studies have been monitoring and documenting this extension in the last years, a new research by Fortune Business Insights forecasts an spectacular growth: from USD 129.60 billion in 2021 to USD 196.56 billion in 2028, at a CAGR of 6.13%.
This data speaks of a burgeoning industry that will include what is typically referred to as the “vitamin industry”, the food supplement industry or the nutraceutical industry and comprises products such as vitamin and mineral supplements and dietary products designed for specific goals (from sports-focused and strength-building supplements to those related to weight loss).
In fact, other studies have been confirming the growth of the food supplement industry. Such is the case of a recently published Forbes’ article that put food supplements among the consumer trends to watch out for.
As consumers put an increasing importance on their wellbeing and are more and more informed about the benefits of supplementing their diet, the impact of COVID-19 has also meant a specific demand for vitamins that boost immune health.
But what are the key takeaways in vitamin industry trends and the facts behind the figures? And how can brands join the vitamin industry growth? Keep reading to find out.
Vitamin industry trends
- Consumer demands are targeting specific vitamin industry areas such as immune-system boosts, protein supplements, pediatric and sports nutrition, and multivitamins.
- A strong focus is put on preventative products and health
- Micronutrient intake has become a major concern for many consumers
- In terms of formats, the capsules are the current preferred method, followed by tablets
- Convenient shopping experiences and availability are demanded. Although specialty shops still remain a popular option, people are more and more interested in the availability and convenience of supermarket shopping for their vitamins and supplements.
- Asia Pacific arises as the largest market (driven by China and Japan) in part due to these regions’ history of traditional herbal medicine and the rise of the middle class (and the ensuing disposable income). North American and European markets are also on the rise, as consumers incorporate this new daily habit into their routines. Aging populations are in part also responsible for this growth.
Digitalization has several consequences for the vitamin industry. On the one hand, it means consumers are taking the lead when it comes to getting informed about their vitamin and supplement needs. As information is more easily accessible online, this trend has been intensified by the pandemic and the need to find reliable information about health online.
On the other hand, digitalization is leading to personalization efforts, as digital tools allow for the monitoring of health data and the creation of personalized plans.
These generate additional requirements from the vitamin industry brands, who must develop an adequate online presence.
Growth of natural, organic products
Natural, organic products are preferred by consumers. This preference combines with the search for products that preserve biodiversity and live up to their sustainability claims.
Consumers are increasingly interested in products that help them develop and boost their immunity systems, with vitamin C and vitamin D understood as some of the top favored claims.
In fact, this preference is a key one in creating new opportunities for brands in the vitamin industry, especially so during the first outbreak of the pandemic and its ensuing effects. For instance, the sale of immune boosting products (such as vitamin and probiotic supplements) rose by 15% from April to August 2020 in Australia, according to figures by Statista.
What are the factors driving growth in the vitamin industry?
- COVID-19 and the global increasing focus on health
- Technological and scientific advancements in the field of nutrition, unveiling the potential benefits of supplementing modern diets
- A cultural shift towards preventive wellbeing and a holistic understanding of health
- Legal factors and increasing regulation leading to better food and vitamin industry standards
You might be interested: Innovation in Food supplements, vitamins and minerals: immunity, mental health, organic and natural products
Discover beehive products rich in vitamins: the natural alternatives to join the vitamin industry growth
Honey-related or beehive products stand at the heart of the vitamin industry.
An intrinsic part of human culture, bee-related products have accompanied human beings from times immemorial, building a connection that goes beyond scientific knowledge and taps into emotional areas. This is especially important at a time when mental and emotional support has become key, especially in a post COVID-19 landscape for the nutraceuticals industry.
In such a context, the well-known multiple benefits of honey and other beehive products stand out as consumers search for natural alternatives to supplement their diets and boost their health. In fact, these advantages include:
- Prevention and reduction of upper respiratory tract infections
- Prevention of gastrointestinal disorders
- Boost of energy (including mood enhancements and sports performance)
- Lowering of blood pressure and blood circulation improvements
- Nurturing of bone tissue
- A natural source of bioactive substances (including proteins, carbohydrates, amino acids, fatty acids and minerals)
- Anti inflammatory properties
- Probiotic and prebiotic effects
- A source of antioxidants
- Acceleration of wound healing
As a result, the vitamin industry has responded by including a number of beehive products in their offers, in a series of different formats such as tablets, capsules, powders, liquids, drinks, energy bars and medical confectionery.
At HoneyGreen+ we’re committed to providing the highest-quality wholesale natural beehive ingredients to our clients, helping them join the most crucial vitamin industry trends. Let us guide you through the current beehive products possibilities and their benefits:
A resinous substance that presents tones between red and brown, propolis is collected by honeybees from tree buds and used in beehive construction processes (from filling crevices to fixing and varnishing honeycombs).
The key health benefits of propolis include vitamin A, vitamin B1, vitamin PP and minerals such as chrome, manganese, selenium, zinc and molybdenum.
Discover more about Propolis extract and its benefits
Bee pollen is flower pollen gathered and packed by worker honeybees and used as food. Also known as bee bread and ambrosia, it contains simple sugars, protein, minerals and vitamins including all vitamins from group B, C, D and E, and a high content in beta carotenes.
Honey is perhaps the best known honeybee product, a sweet substance elaborated by bees out of the nectar of flowers. It contains vitamin C, vitamin B1 and vitamin B2, phosphorus, calcium, magnesium, iron, manganese, iodine and zinc.
A substance secreted by honeybee workers between 5 and 14 days of age, it’s fed to potential queen bees during their larvae stage.
It’s an endogenous product, meaning it’s the only one in their production that is not mixed with other substances.
Royal jelly must follow certain processes to guarantee its highest quality. At its best, it’s a source of vitamin B1, B2, B6, E, PP, folic acid, iron, calcium, sodium, manganese, copper, potassium and zinc.
Want to make the most of the vitamin industry’s current growth and join vitamin industry trends related to natural supplements?
Download HoneyGreen’s catalogue and corporate presentation and find out about how to incorporate this ingredient into your production and develop winning formulas for natural-oriented consumers.