Many businesses and entrepreneurs are often looking for trends in their markets that will help them to make the best business decisions. The supplement market has faced some significant changes in recent years, especially in 2020 with the Coronavirus pandemic.
At SVC Labs, we are experts at manufacturing supplements including drops, capsules & tablets, vitamins & minerals, powders, raw ingredients, sachets, stick pack, and more. We provide our clients with a seamless private label supplement service that allows them to create a new brand with optimum ease and cost-efficiency.
In this article, we will be analysing and discussing the supplement industry in 2020. We will talk about the current product trends, the changes in the market, and how the Covid-19 pandemic has influenced the purchasing decisions of many consumers.
The Top Supplement Market Products in 2020
People are stressed – whether this is due to uncertainty surrounding jobs, business owners working harder than ever to try and stay afloat, or concerns around health.
Stress leads to an increase in sympathetic nervous system activity, which increases adrenaline. Of course, a surge in adrenaline isn’t going to benefit the quality of sleep. Then, worrying about not getting enough sleep increases this even more – and so, the cycle continues.
This widespread stress seems to be increasing the demand in the sleep supplement market in 2020. Remedies that claim to help you relax and improve your sleep are becoming increasingly popular and the market is growing.
Collagen is a bit of a buzz word at the moment. We can derive collagen from fish, eggshell membranes, and other animal sources. It’s also found within the human body. The most common reasons for use is to improve skin health and relieve joint pain. In addition to this, collagen is thought to improve plumpness in the skin – as a result, it can act as an anti-ageing ingredient in many skin care products.
A 2019 consumer report identified collagen as one of the top 3 selling dietary supplement ingredients. It was responsible for approximately $105.9 million in sales in the U.S, and this growth has continued into 2020.
MCT (medium-chain triglycerides) is derived from coconut oil. It’s a special type of fatty acid that can support weight management and reduce inflammation. Consumers tend to use MCT oil to help aid fat loss and increase energy – these are 2 things that consumers will always have an interest in!
We saw an increase of almost 80% in sales growth in 2019, meaning the demand for MCT oil products in 2020 is larger than ever.
Nootropics has also become a buzz word in 2020. the name Nootropics refers to a range of different supplements – such as citicoline and alpha GPC – which are also often known as cognitive enhancers.
The brain naturally produces these types of chemicals. They can improve and prevent cognitive decline, such as memory. They may even help with cognitive disorders like dementia, Alzheimer’s, or stroke recovery.
Nootropics have become popular for a pretty obvious reason – who doesn’t want to enhance their cognitive power? As people become more familiar with what Nootropics actually are, this growth will continue to rise.
It seems like, every year, fitness, bodybuilding, and going to the gym becomes more and more popular. Protein powders are no longer only for the top athletes – the average gym-goer is now using protein powders to help increase muscle growth.
Whey protein, pea protein, and hemp proteins are the most popular types of protein powders – the latter 2 being plant-based or vegan alternatives to traditional whey protein. These are all extremely beneficial for muscle synthesis, meaning they can help to improve strength, muscle mass, and muscle recovery.
It’s difficult for gym-goers to meet the recommended daily protein intake needed to boost muscle mass using food alone. This is why so many people are turning to supplementation to help them. This popularity is on the rise thanks to fitness-oriented social media influencers showing that using protein powder is vital if you want to be like them!
Creatine is another one for the gym-goers out there. It exists naturally in the body and helps to fuel our muscles, giving us the energy required to be active. People use creatine supplements to help boost their performance in the gym – it can improve strength, increase lean muscle mass, and help the muscles to recover more quickly. As a result of this muscular boost, it can cause bursts of speed and energy. This can be very beneficial for people doing high-intensity activities like weight-lifting or sprinting.
Creatine can come in the form of powders or liquids. It’s thought that the rise in popularity in the Creatine supplement market in 2020 has a similar cause to that of protein powders – these 2 will likely continue to grow in tandem in the coming years.
Curcumin is a specific part of the turmeric plant that is responsible for many of the health benefits associated with turmeric. And yes, turmeric is another buzz word in the health and wellness space right now.
Curcumin is considered to be a superfood. Its often used as an ingredient in fruit and vegetable powders, but it can also be isolated. These supplements are meant to have many health benefits, including preventing heart disease, Alzheimer’s, Cancer, Arthritis, and depression. Plus, it has natural anti-inflammatory and antioxidant effects.
How the Supplement Market Has Changed in Recent Years
The global wellness market is expected to reach a value of $294.4 billion by the end of 2020, at a CAGR (compound annual growth rate) of 6.4%. This is huge in comparison to $183.1 billion in 2015.
The dietary supplement market in 2020 is predicted to augment at an even larger CAGR of 8.91% between 2019 and 2028.
But what is causing this growth?
We have seen a social change in recent years whereby a more positive outlook on the sports nutrition market has developed. Plus, there is an increase in the popularity of gyms – this fitness, bodybuilding, gym-oriented lifestyle is becoming more and more the norm. This is a huge driving factor for the increase in sports nutrition supplement demand.
We’ve also seen rapid urbanisation and a rise in disposable income, and this is coupled with growing awareness regarding health issues. People are obsessed with preventative healthcare – the media, celebrity doctors, and magazines have spawned a growing interest in this subject. These factors are expected to propel the 2020 supplement market growth over the coming years.
There has also been rising popularity and awareness of veganism. People – especially in the younger generations – are becoming more conscious of how the mass-production of animal products can negatively impact the environment, meaning veganism – or at least a decrease in animal product consumption – is becoming more and more prevalent. This has lead to more demand for vegan supplements, such as hemp and pea protein powders.
Furthermore, private-label supplements are becoming more of an attractive alternative to national, branded products. New branding, new formulations, better packaging, and more specific & tailored products are a more appealing solution to consumers – especially those seeking very specific solutions. Retailers are stocking other wellness brands more than ever before.
And lastly, one thing that has boosted the supplement market massively is general e-commerce growth. Online sales are more popular now than ever! It’s incredibly easy for people to shop online, especially with companies like Amazon taking the world by storm. The online shopping experience has improved and increased the comfort-level for consumers. There is better online education and more targetted marketing, meaning online supplement sales are booming.
Has Coronavirus Boosted the Supplement Market in 2020?
It’s pretty logical to assume that Coronavirus would boost the 2020 supplement market since people are naturally becoming more conscious about their health and preventing infection.
During the beginning of the pandemic (between March and June), a U.S study showed that digestive health and immunity were the top reasons that people used supplements. Vitamin D, vitamin C, probiotics, and zinc were the top supplements sold.
Consumer demand is increasing as customers want to support their immune health and boost their wellness. The widespread fear of Covid-19 is making people more conscious about protecting their immunity, and that of their families and loved ones. Not to mention the growing need for anxiety-reducing supplements!
Since the beginning of March, weekly VMS (vitamins, minerals, and supplements) sales have experienced a growth of approximately 20-140%, plus an amplified social media interest. This demand and growth is projected to continue in the coming years.
Finally, you may have heard about the rumours that vitamin D can prevent Coronavirus. Research has actually been done to support this – it showed that a vitamin D deficiency was liked to a higher risk of developing Coronavirus. So, it’s thought that widespread vitamin D supplementation could prevent the growth of this pandemic.
Further research is being done currently to determine the factuality of these claims, but in the meantime, people are still seeking vitamin D just to be safe. This demand is increasing and, if the research shows what we think it will, this will continue to increase.
How You Can Start Your Own Supplement Brand
The best way to start your own supplement brand is to white-label. White-labelling is the process of rebranding a product made by a manufacturer so that you can sell it under your own label.
The time, money, resources, energy, and expertise required to manufacture a supplement range from scratch is phenomenal. That’s why people white-label! You can take advantage of existing expert work and resources, but still sell YOUR product in YOUR way under YOUR label.
At The Simple Company (SVC Labs), we have different white-label packages to suit all clients’ individual needs. You can choose which services you require from the following:
- Research & Development – we can create specialist formulations from scratch in order to meet your specific criteria.
- Branding & Design – our professional graphic designers can design your labels.
- Labelling & Packaging
- Fulfilment & Drop Shipping
If you don’t need all of these services, you just pay for what you do need! Check out our white-label packages in more detail here.
If you want a super quick and straightforward manufacturing solution, you can choose our 48hr package. This option uses Vanilla Stock – this is pre-existing, ready-to-go stock that is unlabelled, meaning you can simply brand the products as your own and get straight to selling! This has a turnaround of just 48 hours (the clue’s in the name, right?).
You provide the dream, and we do the rest. Simply pick your product, pick your packaging, and sell! It’s really that easy.
Contact us today to find out more.
Follow us on Instagram @simple.wellness.co to see more about white-label supplements.