The health supplement industry is one of the fastest growing areas of the consumer health market, globally. Key drivers of health supplement demand include an aging population, increasingly health-conscious consumers, and the popularity of sports as hobbies. Health supplements are becoming an enormous industry globally encompassing a large, and increasing, number of products ranging from protein powder and amino acids, vitamins and minerals to snacks and shakes. Marketing and branding of health supplements is being transformed by digitalisation and social media. The advantages for businesses in the health supplement industry are many and growing.
A health conscious industry
Increasing health consciousness globally can be seen by the decline in adult smokers and new smokers aided and sustained by Government policy. Recent trends in aging populations, sports and health consciousness have led to healthy sales for health supplement providers be they hospitals, pharmacies or entrepreneurs. Increased trends in jogging and marathon running as well as celebrity chefs, fine dining and well-being are further indicators of growing health consciousness. All these trends are increasing, and sustainable, boosting the awareness for health supplements and creating profitable synergies and increasing marketing opportunities for businesses that provide health supplements.
The sports nutrition market is healthy
Sports nutrition is important for professional, and amateur, athletes but also adults who use their work life balance for health and well-being, including adventure holidays. Products like protein and creatine are the cornerstones of the health supplement industry and are used as the foundation for most sports nutrition supplements. Recently the need for convenience and speed has become a priority for sportsmen and women, as well as busy professionals, and new product development has followed with sales of drinks and protein bars increasing. New product development of health supplements is increasing and ongoing.
Aging population
It is estimated that by 2050, there will be two billion people over 60 years old. As we all age our nutrition needs change. We also face challenges in remaining active and easily consuming food as we did before. Then there are chronic illnesses such as diabetes 2 and sarcopenia. It is becoming increasingly recognised that the food and nutrition industries have perhaps the most significant means to ensure healthy aging. Consider these challenges with a growing global aging population and the health supplement industry has a bigger, wider market to provide for that welcome new, specialised, health supplements.
Youthful markets
That young people are interested in health and fitness is not news, but this is being reinforced by social media. The internet is used for digital purchases of most things and the advent of data analytics matches the information on people’s handphones with easy online ordering, payment and delivery. New younger consumers want a bigger range of supplements, at affordable prices, faster. This accelerates the demand, and speed of payment, for health supplements, from global sources.
Digital transformation
Traditional businesses are currently being transformed by digital sales, and digital marketing. The commercial world is online and health supplements can be sold easily and quickly through online platforms enabling fast expansion of domestic, and international, sales of health supplements. Social media affects what products are sold and how they are packaged. Instagram has a big influence on what packaging looks like and information on products too. Health supplement providers can make their own private label brand products desirable for different consumers, just as the beauty and personal care industry has successfully done.
Packaging and branding
Often, the only differentiator between each product is the packaging and branding. The same is true of health supplements. Most health supplements use the same basic components and ingredients, so packaging innovation is important to remain competitive and capture market share. This means that health supplement providers must use innovative styles and containers, as well as high-quality graphics and easy-to-digest information to convince buyers. Private label branding can achieve this and build your own successful health supplement business.
Increasing numbers of consumers who are more health conscious, and are more knowledgeable about health supplements products, can be more easily reached with digital marketing by private label brands. These different aspects of the health supplement business provide interesting challenges for smart professionals to harness and leverage. All these factors make the business of health supplements extremely attractive to entrepreneurs, private hospitals and pharmacies who would like to take advantage of the ever-growing global market for health supplements.
Please contact us for an initial business discussion on the advantages of the health supplement industry for your business.
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