Views: 9 Author: Golden Horizon Biologics Publish Time: 2020-04-20 Origin: Golden Horizon Biologics
Under the envelope of the new coronavirus, the global dietary supplement market has experienced rapid growth
Recently, IRI has tracked the sales of multiple product channels in the United States, including pharmacies and convenience stores (but not vitamin stores, such as Vitamin Shoppe).
Survey shows product sales are higher than during recession
Judging from the data of previous years, even during the economic recession, the sales of dietary supplements are rarely affected. Because consumers see nutritional supplements as a type of consumer expenditure to maintain health.
For example, during the 2008 US economic recession, when various industries faced a cold winter, in contrast, the sales of dietary supplements increased, and the entire market performed well during the economic recession. In the 52 weeks to June 2009, the market rose 5%, which is a fairly good growth state.
This new coronary pneumonia epidemic has made people more aware of the importance of health, because the virus's prevalence is centered on health and disease, and the sales of dietary supplements are also faster than in the 2008 economic downturn.
Unlike the past, the epidemic of the disease has caused people to focus on their own health and the health of their relatives and friends. Although consumers will worry about their financial status under the influence of shutdowns and production, they are not as good as health.
The latest IRI data shows that during the period of the new coronary pneumonia pandemic, sales of dietary supplements have skyrocketed. From the perspective of overall sales, first of all, the statistics of the past year are included. In the 52 weeks ending March 8, 2020, the overall market has increased by more than 6%.
In the week ending March 8, 2020, during this period, American consumers gained a new understanding of the severity of new coronary pneumonia, and concerns about coronavirus began to expand. During that week, overall dietary supplement sales soared to more than 35%.
Immune raw materials and products become market winners
Market data found that sales of certain nutritional products have soared at an unprecedented rate. Many of these products are aimed at immune health.
Ingredients such as vitamin C, vitamin D, zinc, and elderberry (sales soaring in 2019) are considered to be the beneficiaries of the current situation, and market sales have also grown by leaps and bounds.
In the week ending March 8, 2020, elderberry sales increased by 415%. Compared with a 170% increase in the past year, sales volume has reached its peak.
Zinc sales have similarly increased. In the 52 weeks ended March 8, 2020, zinc sales increased by 15%, but in the week ended March 8, 2020, zinc sales surged by 255%.
Due to the epidemic, more and more people are restricted to indoors, and vitamin D, the sunshine vitamin, also continues to receive market attention. In the week ending March 8, 2020, sales increased by 22%.
Demand and growth are not only seen in immune supplements, although sales of these products have soared the most. Even natural personal care is increasing. Suddenly, people realize that a healthy lifestyle is also important.
In terms of raw material suppliers, Maypro found that the prices of herbal medicines such as echinacea and astragalus have risen sharply, and interest in the company's Morinaga BB536 probiotic has also suddenly increased.
Immunization categories will be permanently expanded, and each category will continue to grow in the short and long term. Consumers will be attracted by immunity, and will shift this interest to other categories, the frequency of taking multivitamins will increase.
Multivitamins benefit a lot
As consumers pay more attention to ways to maintain overall health, multivitamins also benefit from it.
For example, in the market tracked by IRI, adult multivitamin tablets already have a market of $ 1.6 billion. Adult multivitamin sales have increased by 1% in the past year. 1% of the US $ 1.6 billion is not a small number, but in the week ending March 8, 2020, sales growth accelerated to 23%.
At the same time, sales of children's multivitamins are also increasing because parents want to keep their children healthy during this time. The much smaller category of children ’s multivitamins also increased by more than 2% in 2020, and the week that people actually went out and tried to arm themselves, the category increased by 47%.
Multivitamins are one of the products consumers take for a long time, and people try to protect themselves and their children. Proper diet, proper exercise, good sleep, and multivitamins are a good choice, which can prevent some nutritional defects in the diet.
Steve Mister, President and CEO of the Reliable Nutrition Association (CRN), said consumer interest in dietary supplements is rising. Since the new coronavirus entered the United States, there has been a growing interest in supplements for many reasons: some people use immune-enhancing products because they want to really protect their immune function. Others take multivitamins and minerals every day because they just want to make sure they take in all the nutrients and ensure that their bodies can maintain their best condition under all these stresses. There are other products, such as sleep products, melatonin sales are also very good, because people think that sleep helps to form a strong immune function, so they hope to get a good sleep.
The purchase of dietary supplement products will not be a purchase that consumers may cut during the recession. As people get deeper into the recession, they will be more likely to give up other things. For example, even before the current flu pandemic, consumers are reducing their spending on dining out, fitness clubs, nail salons, and hair salons. During the recession, these can be considered as discretionary expenditures, but now they no longer exist.
Vitamins and dietary supplement products are regarded as a control measure for a small part of life. Consumers are taking something like vitamins and nutrients to enhance their immunity or stay healthy. This is done to protect their safety.
In fact, although dietary supplements cannot treat or prevent disease, they can help the body maintain overall health. Dietary supplements are not used to diagnose, treat, cure, or prevent disease, but this does not mean that they cannot play a role in supporting overall health and wellness during such crisis periods.
People may not be able to get nutritious food for one reason or another, so dietary supplement products can help them bridge the nutrition gap. If a person does not get enough nutrition through diet and / or supplement products, their immune system will be further damaged. Therefore, although dietary supplements have no direct effect on the new coronavirus itself, it makes sense to maintain overall health during this extraordinary period.