As 2020 continues, the vitamin and supplement industry is booming more than ever, boasting a global market at around $120 billion. However, consumer habits are constantly changing, and today’s health, wellness, and fitness fads are critical components within the dietary supplement industry.
For instance, the desire to live a sustainable life is a pushing factor for many people when purchasing nutritional supplements. Companies have to address the needs of such consumers by selling supplements that focus on healthy living and natural ingredients, e.g., algae supplements.
Additionally, there are plenty of industry trends that are likely to impact the nutritional supplement industry this year. Here are some of the top trends to look out for in 2020.
1. Plant-based products
According to the Natural Products Insider, the plant-based retail market from April 2018 to April 2019 grew by 11%. Some of the key areas for this market include dietary supplements and plant-based proteins.
In 2020, there is an increasing urge among consumers for allergen-free, cruelty-free, and vegetarian-friendly supplements. Therefore, companies need to reach such audiences by selling supplements made without the use of animal ingredients.
2. Naturally-sourced supplements
2020 is the year where consumers are more aware of their health and are taking the initiative to prevent instead of cure health complications. Their buying decisions are also influenced by the eco-friendliness and natural quality of supplements in the market.
Naturally-sourced supplements, which don’t contain any synthetically-produced ingredients such as artificial flavorings, are seeing an annual growth rate of 5%. Therefore, they are worth a try if you want to satisfy consumers that want natural products.
In the nutrition industry, transparency is increasing awareness of issues that relate to business operations and supplement quality. For example, it includes providing consumers with information such as ingredient sourcing, quality of supplements, allergen claims, distribution, storage, and product manufacturing.
Research shows that customers choose transparent supplement brands first, making it vital for companies to prioritize transparency.
You’re going to hear a lot of this word in 2020 and beyond. Sustainability will apply to all aspects of the supply chain in the nutraceutical industry. From the sourcing of ingredients at the raw material stage to the processing and creation of those ingredient sinto their final forms. Sustainable manufacturing practices from ingredient to production will be developed. Packaging will also undergo a revolution of sustainability driven by consumer demand and new technologies.
Mushrooms are edible fungi that have health benefits. Mushrooms are making a come back because of the ability to put into multiple delivery forms such as capsules, tablets, liquids, powders, and even gummies. They are also making their way into the cosmetics industry.
Many trends will come and go. It’s important to look at the underlying science and evidence behind these ingredients and trends and compare to how they fit within your health goals and needs.