02.07.23
A third (34%) of people who take vitamins, minerals, and dietary supplements (VMS) have increased their usage since the start of Covid, including nearly half (47%) of Millennials, according to new research from Mintel. Overall, 78% of Americans are VMS users, according to the market intelligence agency.
Supporting overall physical health (66%) and immune system (62%) are the top two reasons for VMS use. Compared to consumers overall (34%), Millennials (43%) are more intent on supporting their mental wellbeing through VMS use.
“While the pandemic negatively impacted multiple areas of consumers’ lives, the shift it created in how consumers view and approach their health has benefitted health and wellness brands, particularly within the vitamin, mineral, and dietary supplements (VMS) space,” said Dorothy Kotscha, health and wellness analyst, Mintel Reports US.
“Immune health concerns no longer only hold seasonal significance,” she added, “and consumers have a heightened focus on the importance of both physical and mental wellbeing. As greater attention is placed on one’s mental health, VMS brands can tap into this trend by focusing on formulas that contain brain-boosting and mood-regulating ingredients such as magnesium, vitamin D, curcumin, and L-theanine.”
While consumers continue to create health routines around VMS products, “there are signs of fatigue within the market, said Kotscha.
“Usage of multivitamins, for example, has remained flat over the past year, indicating that interest is being directed elsewhere. Brands will need to focus on innovation and emerging health concerns in order to embrace changing consumer sentiment. Ingredient transparency will be increasingly important as consumers seek to understand the role ingredients play in their VMS products.”
While use of vitamins remained flat over the past two years (77% in 2021), usage of supplements increased by 13 percentage points, up from 51% in 2021. Specifically, single-letter vitamins and mineral supplements have seen a gradual uptick in usage over the last five years.
Single-letter vitamin use increased from 47% in 2018 to 52% in 2022, while mineral supplement use increased from 33% to 42%. Mintel research shows consumers are looking to optimize their health by focusing on vitamins and minerals they may be lacking for a more personalized approach, rather than a one-size-fits-all multivitamin.
“Customization and personalization are more important than ever as consumers are increasingly interested in broadening their approach to health,” Kotscha said. “Single-letter vitamins may erode the widespread usage of multivitamins as consumers desire greater control over their VMS regimens. Major VMS players should take a close look at ways to offer customized products in a variety of formats and distribution channels in order to optimize the way that they meet their customers' unique needs.”
Supporting overall physical health (66%) and immune system (62%) are the top two reasons for VMS use. Compared to consumers overall (34%), Millennials (43%) are more intent on supporting their mental wellbeing through VMS use.
Slowing Market Growth
While sales of VMS surged during the pandemic, increasing 22% between 2019-2020 to reach $31.52 billion in 2020, growth leveled out in 2022 when sales grew an estimated 4.1% to reach $35.64 billion. Sales are set to grow a further 5% in 2023 when the market is expected to hit an estimated $37.44 billion, according to Mintel.“While the pandemic negatively impacted multiple areas of consumers’ lives, the shift it created in how consumers view and approach their health has benefitted health and wellness brands, particularly within the vitamin, mineral, and dietary supplements (VMS) space,” said Dorothy Kotscha, health and wellness analyst, Mintel Reports US.
“Immune health concerns no longer only hold seasonal significance,” she added, “and consumers have a heightened focus on the importance of both physical and mental wellbeing. As greater attention is placed on one’s mental health, VMS brands can tap into this trend by focusing on formulas that contain brain-boosting and mood-regulating ingredients such as magnesium, vitamin D, curcumin, and L-theanine.”
While consumers continue to create health routines around VMS products, “there are signs of fatigue within the market, said Kotscha.
“Usage of multivitamins, for example, has remained flat over the past year, indicating that interest is being directed elsewhere. Brands will need to focus on innovation and emerging health concerns in order to embrace changing consumer sentiment. Ingredient transparency will be increasingly important as consumers seek to understand the role ingredients play in their VMS products.”
Single-Letter Vitamins and Supplements
The majority of consumers take some sort of vitamin or supplement; 78% take a vitamin and 64% take a supplement, according to Mintel data.While use of vitamins remained flat over the past two years (77% in 2021), usage of supplements increased by 13 percentage points, up from 51% in 2021. Specifically, single-letter vitamins and mineral supplements have seen a gradual uptick in usage over the last five years.
Single-letter vitamin use increased from 47% in 2018 to 52% in 2022, while mineral supplement use increased from 33% to 42%. Mintel research shows consumers are looking to optimize their health by focusing on vitamins and minerals they may be lacking for a more personalized approach, rather than a one-size-fits-all multivitamin.
“Customization and personalization are more important than ever as consumers are increasingly interested in broadening their approach to health,” Kotscha said. “Single-letter vitamins may erode the widespread usage of multivitamins as consumers desire greater control over their VMS regimens. Major VMS players should take a close look at ways to offer customized products in a variety of formats and distribution channels in order to optimize the way that they meet their customers' unique needs.”
