The nutritional supplements market is big and getting bigger! According to the Council for Responsible Nutrition, in 2022 75% of Americans used dietary supplements – and the majority of supplement users were regular users. Worldwide, the market for nutraceutical products, which was valued at $382.51 billion in 2022, is projected to soar to $722.49 billion by 2028, representing a compound annual growth rate of 7.5%.
What trends will be powering this growth in dietary supplements in 2024 and beyond? Here’s an overview of what we’re seeing…
Health and wellness trends
There are a few big stories in the health and wellness trends space, all of which are continuations of trends that have already gotten underway:
• Performance nutrition, including sports nutrition – From professional athletes to recreational athletes, older adults who want to participate in their favorite activities for as long as possible to young eSports enthusiasts interested in supplements to support their peak performance (see our previous article on Market Opportunities for eSports Supplements), performance nutrition is extremely popular.
In fact, sports nutrition has been one of the fastest-growing categories for the past two years. Sales of sports nutrition supplements, including capsules, functional beverages and powders, increased 9.7% in 2022. Growth is anticipated to continue into 2024 and beyond.
Within the functional sports nutrition beverage subcategory, interest in hydration and electrolyte replenishment has been trending upwards. In addition, in the performance nutrition space many consumers are looking for clinically-validated proof of efficacy as well as “clean labels,” including an interest in plant-based supplements.
• Beauty from within – As we have previously reported (see “Planning a Product Launch in the Growing Beauty Supplements Market?”), the beauty supplements market is expected to grow 43% between 2018 and 2026. Given the fact that the “inside-out approach” to sustainable beauty and wellness was virtually unheard of prior to that, this health and wellness trend is an excellent example of how the nutritional supplements market continues to grow and evolve.
Popular ingredients in the beauty from within category include resveratrol, MSM and collagen, which in this case is used to help improve skin, hair and joint health.
• Gut Health – With researchers continuing to explore the relationship between gut health and overall health, including the microbiome and the gut-brain axis, products that support gut health continue to grow in popularity. The “biotic bundle” of prebiotics, probiotics and postbiotics are well-positioned in this health and wellness trend.
• Total wellness, including mood, sleep and cognitive support – In many instances, consumers’ interest in total wellness overlaps with their interest in performance nutrition and/or sustainable beauty. This is where categories start to blur. As Scott Dicker, market insights director for SPINS, explains, “People are figuring out this is ‘total wellness.’ If I get better sleep I’m less stressed. If I get better sleep, I’m probably going to do my activities better. And also, on the flip side, if I’m more active, I’m less stressed out.”
Popular products and ingredients in the total wellness category include:
• Nootropics for brain health and cognition support, including L-theanine taken with caffeine, and creatine.
• Magnesium and melatonin to aid sleep.
• Sleep gummies are a popular formulation option for sleep aids. Exploding Topics reports that search growth of “sleep gummies” is up 568% over the past 5 years.
• Magnesium to support mood.
• Ashwagandha, an adaptogen that has been a leading market seller for the past few years, for a number of purported benefits, including reducing stress and regulating cortisol levels.
Vitamins and minerals trends
Even though over 58% of US adults take at least one vitamin supplement each day, the Nutrition Business Journal has seen a sharp decline in vitamin sales since 2022. To overcome this, one of the likely vitamins and minerals trends for 2024 will be a greater focus on a more “specialized solutions” approach.
Brands are also seeking to differentiate their products by focusing on delivery and flavor systems. That said, there is evidence that the market for gummies may have peaked, as there is a limit to how many supplement “candies” people wish to consume each day in the name of health and wellness. Brands that want to capture the demand for flavorful supplements while presenting a truly unique product should consider CapsCanada’s FLAVOR-CAPS empty capsules. FLAVOR-CAPS are flavored empty capsules that both taste and smell delicious. It’s a great way to offer your customers a tasty alternative to gummies.
Trends in herbal supplements
The Nutrition Business Journal is projecting a nearly six percent growth in herbs and botanicals (which already make up 19% of total dietary supplement sales) in 2024, primarily because these are positioned to meet the demand for specialized or focused ingredients mentioned above.
One of the big standouts in the herbal supplements market is mushrooms, an adaptogen that’s being used to regulate blood sugar levels, enhance energy, and support immune function, general wellness, mood and cognition. Growth in sales of herbal supplements featuring mushrooms has quadrupled since 2018. Herbal supplements featuring mushrooms are available in a wide range of formats, from HPMC capsules to mushroom coffee.
Organic supplements and sustainable supplements
We see these trends overlap with the continuing demand for plant-based supplements and clean labels. CapsCanada supports brands that want to capitalize on these trends with our K-CAPS® HPMC capsules made with natural colorants. These vegetarian capsules are free of animal products, artificial colorants, GMOs, titanium dioxide, preservatives, starches and common allergens. They are also Kosher and Halal certified and have received vegan registration from the Vegan Society.
Regarding organic supplements and sustainable supplements, it is also worth noting that an estimated five percent of Americans follow some form of vegan or vegetarian diet. These consumers not only look for products that are vegan or vegetarian, many also seek out supplements specifically designed to prevent the nutritional deficits that can occur on these diets.
Conclusion
What will your brand be doing to capitalize on these trends? If your plans involve capsules, CapsCanada is here for you. Please contact us for a consultation or to request a sample. Our formulation experts are here to help you succeed.
