US Vitamins, Minerals and Supplements Market Report 2024
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Report Summary
The US vitamins, minerals and supplements (VMS) market is poised for significant growth, projected to reach $37.4 billion in 2024 with a 3.2% increase from the previous year. This growth is driven by a shift towards personalized health solutions, with consumers increasingly seeking VMS products tailored to their unique needs. Additionally, delivery formats such as gummies, powders, and liquids are addressing pill fatigue, enhancing consumer engagement.
Consumer education remains crucial as a large segment of the market lacks awareness about the benefits of VMS products. This presents an opportunity for brands to establish themselves as trusted advisors through enhanced educational content. Regulatory changes, such as new laws in New York state and potential national legislation, will also play a significant role in shaping the market dynamics.
Overall, the VMS market is set to expand, with long-term projections indicating a market size of $41.1 billion by 2029. Brands that focus on personalization, innovation, and consumer education are likely to thrive in this evolving landscape.
This report looks at the following areas:
- Market factors influencing product success in VMS space
- Usage of VMS products and reasons for cessation
- Usage motivators and purchase influencers
- Preferred VMS product formats
- Innovations in the VMS market
- Consumer attitudes and behaviors around VMS products
Personalized VMS solutions, innovative delivery formats, and enhanced consumer education are crucial for brands to thrive in the evolving market landscape.
David Hamlette, Research Analyst; Health and Wellbeing
Market Definitions
This Report focuses on consumer behaviors when using and purchasing vitamins, minerals and supplements.
This Report includes nonprescription, over-the-counter VMS in all formats including liquid, tablet, gummy or chewables. The market has been divided into the following segments:
- vitamins including multivitamins (products that contain a combination of vitamins in one), and one- and two-letter vitamins (products that contain only one or two specific letter vitamins such as vitamin C tablets)
- minerals such as supplements based on mineral ingredients (eg calcium, iron)
- dietary supplements such as CoQ-10, glucosamine and chondroitin products and other specific supplements; targeted supplement combinations, such as women’s health or joint health formulations; and herbs/botanicals, such as echinacea and St. John’s wort
This Report excludes homeopathic products, prescription vitamins and vitamin-enhanced/-enriched food products (eg orange juice enriched or enhanced with calcium, energy drinks enhanced with vitamins or supplements, nutritional bars). Sales of vitamins, minerals and supplements through network (multilevel) marketing and practitioners are also excluded.
Table of Contents
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Executive Summary
- What you need to know
- Market size & forecast
- Market predictions
- What consumers want & why
- Opportunities
-
Market Dynamics
- Market context
- The US expanded by 1.4% in Q1 2024
- Graph 1: quarterly real GDP growth, 2020-24
- Consumer sentiment remains down, but is expected to rebound soon
- Graph 2: consumer sentiment index, 2022-24
- Market drivers
- BPC and mental wellbeing are merging with the VMS space
- Physical health is also becoming a priority for aging generations
- NY state law aims to restrict minor VMS usage
- The Dietary Supplement Listing Act could affect national VMS production routines
- GLP-1 medicine wave can propel VMS sales
- Market size and forecast
- Focus less on allergens and more on clean formulas
- Graph 3: VMS claims trended, 2022-24
- Retail sales and forecast of vitamins, minerals, and supplements
- Retail sales and forecast of vitamins, minerals and supplements at current prices
- Market segmentation
- Retail sales of vitamins, minerals and supplements, by segment
- Market share/brand share
- Sales of vitamins, minerals and supplements products, by company
- Sales of vitamin products, by company
- Sales of mineral and supplement products, by company
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Consumer Insights
- Consumer fast facts
- Product usage and reasons for cessation
- Nearly 40% of the US market still does not plan to utilize any sort of VMS in their routine
- Graph 4: VMS product usage and lapse, 2024
- Connect with Gen Z on an emotional level to keep them loyal
- Graph 5: select VMS product usage and lapse, by age and generation, 2024
- Brands successfully foster emotional connection through aesthetics
- Parents, especially fathers, are consistent with their VMS routine
- Graph 6: VMS product usage and lapse, by gender and parental status, 2024
- Win fathers over by keeping it simple and encouraging experimentation
- Barriers to longevity stem from lack of education around VMS
- Graph 7: reasons for VMS cessation/no usage, 2024
- Graph 8: reasons for VMS cessation/no usage, 2024
- Educate consumers on logistics and importance of VMS
- Graph 9: Reasons for VMS cessation/no usage, by age, 2024
- Remove decision fatigue of multi gen households through VMS bundles
- VMS usage motivators
- VMS no longer just for diet and general health maintenance
- Graph 10: VMS usage motivators, 2024
- Tailor women's products to maintenance, and men's products to alleviation of symptoms
- Graph 11: select VMS usage motivators, by gender, 2024
- Inclusive language will expand Black consumers' perceptions of VMS uses
- Graph 12: select VMS usage motivators, by race, 2024
- Purchase influencers
- Build consumer trust by offering products with quality ingredients and clear uses
- Graph 13: VMS purchase influencers, 2024
- Align age-specific products with age-driven desires, factoring in financial capability
- Graph 14: VMS purchase influencers, by age + household income, 2024
- Understand parents' VMS needs based on the ages of their children
- Graph 15: VMS purchase influencers, by parental status +age of children, 2024
- VMS product formats
- Tablets, capsules, and gummies continue to lead preferred formats in VMS
- Graph 16: VMS preferred format, 2024
- Curb pill fatigue: highlight other formats, such as powders, creams, and drops
- Graph 17: select VMS preferred format, by age, 2024
- Curb pill fatigue: highlight other formats, such as powders, creams, and drops
- Innovate traditional formats for older consumers
- Graph 18: select VMS preferred format, by age, 2024
- Innovations in VMS products
- Consumers are open to trying to new VMS products
- Graph 19: usage and interest in VMS innovations, 2024
- Use tailored media as an avenue to increase both interest and usage for those not using socials
- Graph 20: interest in VMS innovations, by social media usage monthly, 2024
- Use tailored media as an avenue to increase both interest and usage for those not using socials
- HABIT gives online shoppers a hands-on experience
- Differentiate VMS purchases from parents' needs and children's needs
- Graph 21: usage and interest in VMS innovations, by parental status + gender, 2024
- Highlight traditional eastern ingredients to push AAPI consumers from interest to usage
- Graph 22: usage in VMS innovations, by race – Asian or Pacific Islander, 2024
- Graph 23: interest in VMS innovations, by race – Asian or Pacific Islander, 2024
- Highlight traditional eastern ingredients to push AAPI consumers from interest to usage
- Elix uses specialists to increase comfortability with Traditional Chinese Medicines (TCM)
- Attitudes and behaviors around VMS
- Private label, issue-specific products will see success in the VMS space
- Graph 24: VMS attitudes and behaviors, 2024
- Grant older women peace of mind while tracking their supplements
- Graph 25: select VMS attitudes and behaviors – prefer VMS products that focus on one ingredient, by age + gender, 2024
- Encourage VMS routine from a "sexy" angle
- Graph 26: Select VMS attitudes and behaviors – only take VMS products when I feel ill or low energy, by gender and marital status, 2024
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Innovation and Marketing strategies
- Launch activity and innovation
- Neutrogena personalized supplements
- Brands recognize not everyone wants multicomponent formats
- Incorporate familiar foods to encourage supplements outside of just dietary health
- Partner weight loss side effects with alleviation of symptoms
- Marketing and advertising
- Olly encourages creating realistic wellness goals
- Track your VMS intake like a motherf***er with Ritual
- Redefine who "health experts" are the VMS space
- Opportunities
- Address specific health concerns in products
- Graph 27: select VMS purchase influencers, 2024
- Graph 28: select VMS attitudes and behaviors, 2024
- Address specific health concerns in products
- Enhance educational content around VMS usage
- Look to BPC for innovative formats
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Appendix
- Market definition
- Consumer research questions
- Consumer research methodology
- Generations
- Abbreviations and terms
- Vitamins, minerals and supplements fan chart table
- Forecast methodology
- Forecast fan chart methodology
- Retail sales of vitamin, minerals and supplements, by channel
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