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Vitamins and Dietary SupplementsMarket Trends Not to be distributed without permission.CONNECT WITH US 2018 Euromonitor InternationalVitamins and Dietary Supplements Market TrendsCompiled of extracts from our Vitamins and Dietary Supplements report series Euromonitor International1 Introduction2 Key findingsPreventionNew consumersGlobal regulationsRising start-ups and e-commerceCustomisation4 Overview of the vitamin and dietary supplements (vds) industryvds in Western Europe: Growing ageing population is reshaping vds demandvds in North America: Probiotic supplements influencing growthvds in Latin America: Consumers become more aware of the benefits of vds productsvds in Asia Pacific: Increasing opportunities for herbal / traditional dietary supplementsvds in Middle East and Africa: Increased accessibility and awareness drives demand8 ConclusionContents Euromonitor InternationalTrends towards healthy lifestyles and disease prevention are generating growth opportunities and challenges for vitamins and dietary supplements (vds) firms, especially among consumers looking to avoid expensive healthcare costs and enjoy healthier lives. However, regulation is simultaneously becoming stricter. Companies are adjusting to a new, connected and more informed consumer demanding clean label supplements. Creating healthier, more diverse portfolios will drive growth in this new scenario. Consumers have increased their expenditure on vds since 2011. North America, Australasia and Asia Pacific saw the highest increase in vds purchases. Greater awareness about healthy ageing and the broader availability of products with specific positioning around functional health claims have contributed to this increase. Contamination and adulteration of vds remains a global concern. While not as regulated as the over-the-counter (otc) industry, there are increasing efforts by regulatory agencies to stay more alert regarding safety, recalling products, looking into unsupported claims, revoking manufacturing licences and taking legal action when necessary. Introduction Euromonitor InternationalPreventionDemand for supplements as a tool to prevent medical conditions and stay healthy has increased as consumers and public health agencies aim to reduce and prevent chronic diseases and increase healthy life spans.New consumersA more connected and more informed consumer is challenging the vds industry. Access to information and connectivity have impacted consumer behaviour, creating new consumers requiring greater customisation and healthier products. Companies increasingly need to find ways to connect with these new consumers, as well as meeting their needs for aspects such as clean label supplements.Global regulationsGlobally, regulations around health claims and ingredient quality are becoming stricter. With ingredient adulteration cases and product recalls broadly covered by the media, regulatory agencies are working harder to implement manufacturing “pharma like” standards for vds firms. This means that many product health claims require strong research involving clinical trials and ingredients sources need clearer traceability and labels, which, in turn, could improve consumer trust.Key FindingsKey Findings 3 Euromonitor InternationalRising start-ups and e-commerceMajor retailers and manufacturers are being challenged by rising start-ups and online growth. Many leading retailers and producers continue to expand through M&As and partnerships to gain market share in a fragmented vds marketplace. However, the speedy proliferation of new start-ups launching a wide range of products, especially via online platforms, is challenging the industry.CustomisationCustomisation and technology bring new opportunities. The combination of direct-to-consumer genetic testing and use of self-monitoring devices, web and mobile apps, and easy remote access to medical consultations is transforming prevention. This is a great opportunity for the vds industry to connect with and monitor consumers more closely to better match their needs, while creating more partnerships with health facilities around prevention. Euromonitor Internationalvds in Western Europe: Growing ageing population is reshaping vds demandWhile Western Europe is growing at the slowest global pace, the rise of the ageing population, a growing emphasis on prevention and increasing interest in online self-education and e-commerce are still supporting growth. The region shows increasing opportunities for combination dietary supplements and probiotic supplements to support healthy ageing and digestive health. The healthy living trend supported growth among key players such as the UK and Italy, where the latter is culturally used to taking supplements. Italy is the largest market in Western Europe and dietary supplements constitute 76% of vds value sales (usd2 billion) in 2018 with consumers increasingly opting for combination dietary supplements for prevention and probiotic supplements to support digestive health. In Germany, the second biggest market, demand is not only supported by the senior population with over 30% of 60+ consumers report taking a multivitamin in 2017, and increasing health awareness, but also by growing veganism and vegetarianism, with consumers looking for more plant-based protein supplements.With more access to the internet and online information, many European consumers are going to their phones first to find out what the best vds options are. More consumers are buying vds online and more vds start-ups firms popping up online to offer their products directly to consumers. vds in North America: Probiotic supplements influencing growthNorth America is the global frontrunner in vds. The new administrations philosophy around regulatory rollback and increased incentives to raise local production could accelerate both growth and competition. The key product influencing growth in North America is probiotic supplements. Probiotic supplements are increasingly positioned as beneficial not only for digestion but also for immunity, allowing for broader use scenarios for prevention. Overview of the Vitamin and Dietary Supplements (vds) IndustryOverview OF the vitamin and dietary supplements (vds) industry 5 Euromonitor InternationalThe US is expected to see high growth in probiotic supplements, fish oils / omega fatty acids, and protein supplements. Demand for probiotics stems from greater consumer awareness of digestive issues, such as Irritable Bowel Syndrome (ibs) and food sensitivities, as well as publicised research emphasising the importance of healthy microflora. Meanwhile, marketing from cardiovascular health associations, and innovations such as gummies and plant- sourced, vegan, and non-gmo oils, have helped the demand for fish oils / omega fatty acids.US Fastest Growing vds Categories % Retail Value cagr 2016-20210 1 2 3 4 5 6 7 8 9Probiotic SupplementsProtein SupplementsCo-Enzyme Q10Eye Health SupplementsEchinaceaGlucosamineSingle VitaminsTonicsMultivitamins% CAGR 2016-2021 Source: Euromonitor Internationalvds in Latin America: Consumers become more aware of the benefits of vds productsGrowing preoccupation with health, greater concern for long-term disease prevention and greater product variety are driving the vds market in Latin America. The low current per capita consumption rate leaves much potential for growth, as consumers become more aware of the benefits of vds products and disposable incomes rise along with the middle-income segment. Brazil and Mexico are the largest markets in the region, together representing 66% of vds value sales.The vds market in Latin America is expected to grow by 2.3% cagr over 2017-20226 Overview OF the vitamin and dietary supplements (vds) industry Euromonitor InternationalVitamins and Dietary Supplements: Latin America % Y-o-Y Growth 2012-2022Retail Value rsp usd millionIn Brazil and Mexico vitamins saw higher growth than dietary supplements over 2012-2017. Consumers are seeking healthier lifestyles and complementing their diets with multivitamins. Multivitamins are perceived as more convenient, especially for consumers with hectic lifestyles in these countries. A growing middle class in the region is also positively affecting retail value. Consumers have greater disposable income, enabling them to buy products previously beyond their budgets. The region offers significant potential for growth and affordable products are key to appeal to the growing cohort of middle-income consumers. Among other factors, the ageing population across the region is driving growth. Consumers are increasingly choosing disease prevention over disease treatment to improve their health and reduce healthcare costs later.vds in Asia Pacific: Increasing opportunities for herbal / traditional dietary supplementsIn Asia Pacific, trends around healthy lifestyles and prevention among older consumers trying to avoid expensive healthcare costs and extend healthy lifespans are generating growth opportunities for vds firms. Growth is concentrated mainly through two channels: direct selling and online retail. The region -25%-20%-15%-10%-5%0%5%10%15%01,0002,0003,0004,0005,0006,0007,0002012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022Y-o-YgrowthRetail ValueRSPUSDmillionRetail Value RSP Y-o-Y growthSource: Euromonitor International
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