The industry presents unique supplement trends for 2024 that you as a private label owner can leverage to stay ahead of your competition and cater to an increasingly discerning customer base. From the booming interest in sports nutrition to the demands for personalized and plant-based supplements, understanding these trends is essential if you aim to become a leader in this dynamic market.
The sports nutrition market has seen a surge in recent years, attributed to a growing consumer interest in physical fitness and a healthy lifestyle. The size of the global sports nutrition market is predicted to reach USD 75 billion by 2030, according to a report by Grand View Research. Its compound annual growth rate is expected to hit 7.5% from 2024 to 2030.
In 2024, sports nutrition continues to trend because of its expanded scope. It now includes not just professional athletes but also fitness enthusiasts and everyday consumers seeking enhanced physical performance and recovery. The trend is supported also by emerging research on the efficacy of sports supplements in enhancing exercise performance.
Here’s what you can do: Focus on developing products with proven efficacy, possibly incorporating trending supplements like creatine or whey protein into your product portfolio. Collaborations with fitness experts and athletes for endorsements can also be an effective marketing strategy.
The beauty-from-within concept has gained traction due to the increasing consumer understanding of the connection between nutrition and skin health. According to a report by Verified Market Research, the size of the beauty supplements market was estimated at USD 2.90 billion in 2023 and is expected to increase at a CAGR of 5.55% by 2030.
As consumers continue to prefer holistic approaches to beauty, supplements offering benefits like skin hydration, anti-aging, and hair health are becoming increasingly popular. The trend aligns with the broader wellness movement, emphasizing overall health as the foundation of beauty.
Here’s what you can do: Focus on formulating supplements with clinically proven ingredients for skin health, such as collagen, conducting research to substantiate claims, and marketing products as part of a holistic beauty routine.
Beauty supplements are now a part of a holistic approach.
The demand for supplements with clinically proven ingredients is rising due to increased consumer awareness and skepticism about the efficacy of dietary supplements. Consumers are more informed. That’s why they seek evidence-based products that provide tangible health benefits. The regulatory environment is also becoming stricter, making clinically proven claims more important.
McKinsey’s recent survey found that for approximately 50% of consumers in the US and the UK clinical effectiveness was important when making a purchase, compared to only 20% who said the same about natural or clean substances. Moreover, a survey by Euromonitor International found that 85% of buyers are willing to pay more for beauty products that have proven efficacy or benefits.
For example, we use the Peptan collagen peptides in our bovine and fish collagen. The reason is simple. These peptides are backed by scientific research so we can ensure the highest quality and efficacy for your consumers.
Here’s what you can do: Include scientifically-backed ingredients in your products, partner with health experts for product validation, and emphasize the clinical evidence in marketing efforts. Make sure that your supplier has certificates to ensure the highest quality of your products.
The shift towards plant-based supplements is driven by the rising vegan and vegetarian population, along with a general consumer shift towards more natural, environmentally-friendly products. The market for vegan supplements is anticipated to grow at a CAGR of 6.7% from 2022 to 2027.
In 2024, this trend is strengthened by a growing awareness of the health and environmental benefits of plant-based diets. Consumers are increasingly seeking out supplements that align with their ethical and health values.
Here’s what you can do: Incorporating plant-based supplements into your product portfolio, ensuring ethical sourcing of ingredients, and communicating the environmental and health benefits of these products are important strategies. Moreover, certification for vegan and organic products can add credibility.
The popularity of vegan and vegetarian diets supports the growth of plant-based supplements.
Personalized supplements have been gaining momentum due to advances in technology and a growing consumer preference for personalized health solutions. Predictions by Grand View Research expect the personalized nutrition and supplements market to experience a CAGR of 15% between 2023 and 2030.
A 2023 study by Vesta found that especially younger generations, 71% of GenZ and Millennials to be more precise, are interested in personalized supplements. The trend is fueled by technological advancements such as AI, genetic testing, and data analytics, allowing for more precise customization of supplements to individual needs. It is also related to the rise of wearable technology which has been a mainstay in the top 3 global fitness trends since 2016.
Here’s what you can do: Implement a system for personalized assessments, utilize AI and data analytics to formulate custom supplements, and ensure a seamless customer experience from assessment to delivery. With private label manufacturing, we can tailor your supplements to the needs of your target group.
Each of these supplement trends presents a unique opportunity for growth and innovation.
However, it demands a proactive approach. Developing products that resonate with these evolving consumer preferences, investing in research and technology to substantiate claims, and ensuring ethical and sustainable practices will be key differentiators in a competitive landscape.