Are tailored supplements best suited to meet SA’s market needs? – Insight Survey – Bizcommunity.com

Globally, consumers are seeking out products tailored to their unique needs and requirements, and this is no different in the supplement market, as more supplement products targeting the needs of specific consumer groups become available. These include nutricosmetic supplements, which combine nutrition with anti-ageing and beauty benefits; nootropics (smart nutraceuticals), which are aimed at boosting mental energy; as well as supplement products specifically designed to aid in the prevention and treatment of various disorders in children.

In 2020, the global dietary supplements market is estimated to have reached a total value of approximately $69.6bn, as illustrated in the graph below. Furthermore, this figure is expected to continue to grow at a compound annual growth rate (CAGR) of 6.9%, to reach a value of $97.2bn by 2026.

Globally, and in South Africa, several trends have been emerging, including the rise of product categories such as nutricosmetics, which includes supplements that combine nutrition, anti-ageing and beauty benefits. More specifically, some of the popular supplements within the nutricosmetics category include collagen, hyaluronic acid and astaxanthin, all of which offer a combination of health and beauty benefits.

Supplements focused on enhancing and boosting brain functioning are also becoming increasingly popular, as consumers become aware of the link between nutrition and brain health. Additionally, growing ageing populations mean that these types of Supplements are likely to be a growing trend, as these consumers seek to improve brain functioning.

Nootropics (smart nutraceuticals) have been identified as a prominent trend within the supplements market. These supplements are aimed at boosting mental energy, enhancing brain blood flow and brain cell performance and protecting the brain from stress. It has been suggested that prominent nootropic supplement product, Huperzine A, boosts levels of the neurotransmitter, acetylcholine, thereby fighting dementia and memory loss.

Several South African manufacturers have also released supplement products, designed to meet the needs of other targeted consumer groups, such as Simple Spectrum Solutions SAs recently launched supplement product. This product is specifically designed to address the nutritional requirements of children, aiding in the prevention and treatment of attention deficit hyperactivity disorder (ADHD) and autism spectrum disorder (ASD).

Going a step further, some players now offer supplements that go beyond meeting the needs of consumer groups, offering fully customisable supplements to meet the unique supplement needs of individual consumers. For example, Tailorblend and Tailored4Me both allow consumers to create supplement products that can be customised to meet their exact supplement requirements. This approach to supplementation is taken even further by Tailored4Me, which makes use of blood tests, as well as demographic information, to create custom supplements for individual consumers.

Tailored and customisable supplement products, which meet consumers unique needs, are likely to continue to drive the growth of the local supplement market, with more local players capitalising on this rapidly growing trend by introducing new, innovative and uniquely tailored products that meet the needs of South African consumers.

The South African Supplements Market Report 2021 (60 pages) provides a dynamic synthesis of industry research, examining the local and global supplements industry from a uniquely holistic perspective - from key global and South African market trends to the latest market innovation and technology, drivers and challenges.

Some key questions the report will help you to answer:

For a full brochure please go to: South African Supplements Market Report 2021

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Are tailored supplements best suited to meet SA's market needs? - Insight Survey - Bizcommunity.com