MarketLooks: Nutritional Supplements

 
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Published Oct 1, 2004 | 26 Pages | Pub ID: ML1055366

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Title: U.S. Market for Nutritional Supplements: Vitamins, Minerals and Dietary Supplements, The

Published: October 2004

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The following is the abstract from the full report:
Pegging 2003 sales at approximately $4.8 billion through all channels, including mass-market, health/natural, and direct/Internet, The U.S. Market for Nutritional Supplements covers nutritional supplements including vitamins, minerals, herbal supplements, nonherbal supplements and other types of food supplements, exploring this market within the value-added context of broader food and beverage trends representing both synergies and drawbacks. For example, what effect is the ongoing explosion of nutraceuticals, vitamin- and mineral-fortified products, and targeted "phoods" having on nutritional supplements, and how can supplement marketers ride these waves to their own advantage?

The U.S. Market for Nutritional Supplements examines key competitive trends and pinpoints opportunities for current and prospective marketers, taking into account the potential impact of increased government regulation of supplements, in the form of pending GMPs (Good Manufacturing Practices) and the ominous Senate Bill 722. The four principal mass-market categories—general supplements, multi-vitamins, 1 & 2 letter vitamins, and liquid supplements—are quantified to the marketer/brand share level by IRI data, and further substantiated by extensive qualitative analysis. The report documents market size and composition; marketing, new product, and retail trends, providing forecasts through 2008 and detailed consumer profiles of key demographics, based on the Spring 2004 Simmons Market Research Bureau data, with detailed breakouts by gender, race/ethnicity, and households with children.

Introduction
With the rapid influx of functional foods, supplements are increasingly competing directly with
foods.


Market Size and Growth
During the five-year period from 2000 to 2004, the market grew by a total of 7.5%.


Market Composition
General supplements account for over half (50.7%) of IRI-tracked sales of nutritional
supplements


Factors to Market Growth
Sales of nutritional supplements rise and fall according to the changing tides of public perceptions
of product safety and effectiveness, which are heavily influenced by the media.


Projected Market Growth
Total U.S. retail sales of nutritional supplements will reach approximately $6.1 billion in 2009.


The Market Leaders
Private-label products collectively claim more than triple the share of the top-ranked branded
competitor.


Competitive Overview
Competition is more concentrated at the mass-market level that at the health/natural store level.


Marketing Dynamics
The driving trends in the market are toward natural/organic and premium products.


Retail Trends
With 34% of sales, supermarkets are the leading outlet for nutritional supplemen

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