Globally, consumers are taking proactive steps to maintain their health, by making use of Vitamin products. However, as consumers become more engaged and knowledgeable regarding Vitamins, it is becoming increasingly important to ensure that the products they consume meet their individual needs, in terms of both composition and format. This has led to industry players offering specialised offerings and product formats, to cater to a more engaged and demanding consumer.
Insight Survey’s latest South African Vitamins Industry Landscape Report 2022 carefully uncovers the Vitamins industry (including the impact of COVID-19), based on the latest intelligence and research. In particular, it describes the latest global and local market trends, innovation and technology, drivers and challenges, to present an objective insight into the South African Vitamins industry environment and its future.
Globally, the Vitamin Supplements market was estimated to be worth approximately US$46.9 billion in 2021. Furthermore, as per the graph below, the global Vitamin Supplements market value is forecast to increase by a compound annual growth rate (CAGR) of 6.2%, to reach approximately US$71.4 billion by 2028.
In South Africa, the local Vitamins market is also expected to grow in the coming years. More specifically, the local Vitamins market is expected to grow at a CAGR of 14.3%, for the forecast period 2022 to 2026. This growth in the market can be attributed to several factors, including local and global consumers becoming more proactive in terms of their health, and by extension, their Vitamins consumption.
More specifically, consumers are taking a more active approach in terms of preventative health, as well as ensuring they are getting the Vitamins they need. This has even extended to consumers testing their Vitamin levels at home, through at-home test kits, such as OmegaQuant’s Vitamin B12 test, which was recently released into the market.
Moreover, consumers are also actively seeking out personalised Vitamin products and services, to ensure they are getting the exact Vitamins they require. For instance, services such as VitaminMe and Vitamin Club, offer South African consumers tailormade Vitamin products, ensuring users are getting the Vitamins they require. Furthermore, Vitamin Club ensures a statistical match between an individual and their recommended subscription, ensuring consumers are getting the right Vitamins in the correct dosage.
This demand for products that better meet consumers’ unique Vitamin needs has also extended to the format of Vitamin products. This includes the introduction of Vitamin patches, such as those offered by The Patch Brand, as well as the increased popularity of alternative formats such as drops, fast-acting Vitamin tablets, and Vitamin gummies.
In particular, gummy Vitamins are becoming particularly popular among global and South African consumers. These products are often more palatable and easier to ingest, when compared to traditional pill formats. As a result, more consumers are seeking out gummy Vitamin products that better align with their individual tastes and lifestyles.
Global examples of popular Vitamin gummies include, Nourished’s 3D-printed, personalised Multivitamin gummies, as well as new products offered by global brands, such as Vitamin Kitchen and Persona Nutrition. In addition, in the South African market, NeoVita’s range of adult gummy Vitamins include products such as Daily Multivits, Luscious Hair for men and women, Radiant Skin, Incredible Immunity, and Glamour Boost.
The South African Vitamins Industry Landscape Report 2022 (127 pages) provides a dynamic synthesis of industry research, examining the local and global Vitamins industry (including the impact of COVID-19) from a uniquely holistic perspective, with detailed insights into the entire value chain – from key global and South African market trends, innovation and technology, drivers, and challenges, as well as manufacturer, distributor, retailer, and pricing analysis.
Some key questions the report will help you to answer:
- What are the current market dynamics of the global and South African Vitamins industry?
- What are the latest global and South African Vitamins industry trends, innovation and technology, drivers, and challenges?
- What are the market value and volume trends in the South African Vitamins industry (2016-2021) and forecasts (2022-2026), including the impact of COVID-19?
- Which are the key manufacturers, distributors, and retail players in the South African Vitamins industry and what brand/products do they offer?
- What is the latest company news for key Vitamins players in terms of products, new launches, and marketing initiatives?
- What are the prices of popular Vitamin brands and products across South African retail outlets and pharmacies?
Please note that the 127-page full report is available for purchase for R30,000.00 (excluding VAT). Alternatively, individual sections can be purchased for R12,500.00 (excluding VAT). For additional information simply contact us at firstname.lastname@example.org or directly on (021) 045-0202 or (010) 140- 5756.
For a full brochure please go to: South African Vitamins Industry Landscape Brochure 2022
About Insight Survey:
Insight Survey is a South African B2B market research company with more than 15 years of heritage, focusing on business-to-business (B2B) market research to ensure smarter, more-profitable business decisions are made with reduced investment risk.
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