The supplement companies are now rapidly growing. Even a few years back, the market was very small. But now, the market is huge. More people understand the benefits of supplements now and how supplements work. Here are the main reasons why supplement companies are successful today.
Previously, consumers were concerned about what was inside the product. But now the concern is more on what is not in the products. Supplements don’t have artificial ingredients and allergens. People now what short list of ingredients on their products. According to a study conducted by the Natural Marketing Institute, the percentage of Baby Boomers who want fewer ingredients in their products have increased from 34% to 51% over the past few years. Most of these people decline to buy a product whose ingredient they cannot pronounce.
No side effects
Prescription medications often have side effects. This has been a growing concern among the consumers. So, they are looking for alternatives to medications. They are now seeking natural products like supplements and trying to adopt an effective lifestyle to lower their dependency on medications.
Increased demand of the Baby Boomers
The Baby Boomer population is approaching 80 million in the U.S. Within a couple of years, 50% of the adult population in the U.S. will be more than 50 years old. They will control 70% of the country’s disposable income. This segment of the population is consuming more protein, vitamin D, omega-3s, and calcium in their diet. So, the demand for supplements is increasing as well.
The media is now talking a lot about the benefits of supplements. So, people are now becoming more aware of the ingredients and the related health benefits. This includes word-of-mouth, social networks, media, friends and relatives, and recommendations from the health care practitioners. Supplements are now being marketed through healthcare professionals. Consumers trust this channel, so more people are buying supplements. FDA has made it clear that dietary supplements keep healthy people healthy, instead of preventing any disease or treating any medical condition. So, the target market of dietary supplements is huge.
Available in different forms
Unlike medicine, supplements are now being produced in various forms that the consumers prefer. Many people don’t like pills, so gummy supplement forms are being developed. There are foods that many people don’t like to consume in their natural form, like various proteins. So, they can take supplements instead to cover the deficiency of proteins in their diet.
More people going to gym
People now have become more health conscious. The number of gym-goers has increased over the past years. More people now want to have a fit body and build muscles. Supplements give them energy to workout harder. It helps to build muscles and recover the body after the exercise faster. Athletes and those involved in sports have a high demand for supplements. As they have lots of physical stress on their body, the supplements help them to keep going. The professional sports people rely on supplements to get the energy and stamina to workout harder and for long hours. Many sports stores, clubs, and gyms now sell supplements. So, it is now accessible to more people.
The sourcing of supplements is important. People now desire to have products hat are sourced naturally. You can now buy supplements from online stores as well. Social media marketing and affiliate marketing have increased the number of online buyers of supplements. Supplements can now be found in superstores as well. Consumers can buy value packs at a lower cost. This has attracted new consumers to the market. The healthcare professionals are also contributing to the growth of the supplement sector. They are creating the perception of high-quality products, and consumers are ready to pay a premium price for products having good quality.
The factors mentioned above are contributing to the success fo the supplement companies. The market opportunities for these products are huge. With some effective strategies, these companies can reach larger markets. But the companies have to focus on producing good quality products. They should not forget that the main reason for the growth of this market is because of quality products. So, they should maintain the quality level of their new products as well.