Will innovative trends help to further boost SA's vitamins industry?

Insight Survey’s latest SA Vitamins Industry Landscape Report 2019 uncovers the global and local markets based on the latest information and research. It describes the market drivers and restraints as well as the relevant global and local market trends to present an objective insight into the South African vitamins industry environment, market dynamics and its future.

In 2018, the global vitamins and dietary supplements market was valued at US$152bn. As illustrated in the graph below, the global vitamins and dietary supplements market is expected to grow at a very robust compound annual growth rate (CAGR) of 8.8% over the 2018 to 2022 period to reach US$220bn in 2022. As part of the larger vitamins and dietary supplements market, the global vitamins market is segmented into multivitamins and single vitamins with multivitamins constituting 57.9% of the global vitamins market during 2018.

Source: Statista Graphics by Insight Survey

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Similarly, in the South African market, the vitamins market achieved a strong CAGR of 7.1% at constant prices between 2013 and 2018. Interestingly, within the vitamins market, multivitamins continued their dominance, growing at an even higher CAGR of 7.4% compared to single vitamins. The vitamins market is forecast to continue to grow relatively strongly over the 2019 to 2023 forecast period.

As a rising trend, vitamin IV drips provide the body with all the needed vitamins and nutrients via an intravenous drip directly into the bloodstream. These drips are becoming popular especially among wealthy individuals and celebrities, such as Rihanna, Chris Brown, and John Legend. Locally, vitamin IV drips made their way into the South African market during 2015, with celebrities such as Kahn Morbee and Bobby van Jaarsveld becoming part of the trend.

Consumers are opting for vitamin IV drips as they can receive their IV therapy in a favourable environment, such as an IV spa. In the IV spa, the vitamin IV drips are received in a massage chair, clients have access to Wi-Fi, as well as a selection of drinks. The vitamin IV drip claims to detox the system, cleanse the organs, and provide an immune and energy boost.

However, research has suggested that vitamin IV drips are not always beneficial to consumers. Irene Labuschagne, a dietitian at the Nutrition Information Centre Stellenbosch University (NICUS), has warned that there is a lack of information on the safety of these products.

Another interesting innovation in South Africa is inhalable vitamins, also known as vitamin vaping. Inhaling vitamins is the new-age, healthier alternative to cigarettes which also allows for conviviality as an added benefit to the potential health benefits.

The increasing popularity of vitamin IV drips and inhalable vitamins are recent trends and Insight Survey will closely monitor these innovations to evaluate if there is wider adoption that helps to further boost SA’s vitamins Industry in future.

The South African Vitamins Industry Landscape Report 2019 (146 pages) provides a dynamic synthesis of industry research, examining the local and global vitamins industry from a uniquely holistic perspective, with detailed insights into the entire value chain - from manufacturing to competitor analysis, retailing, pricing and purchasing trends.

Some key questions the report will help you to answer:

• What are the current market dynamics of the global vitamins industry?
  
• What are the latest SA vitamins industry trends, drivers, and restraints?
  
• What are the value and volume trends in the SA vitamins market (2013-2018) and forecasts (2019-2023)?
  
• Who are the key manufacturing and retail players in the SA vitamins industry?
  
• What are the prices of popular vitamins products at retail outlets and pharmacies?

Please note that the 146-page report is available for purchase for R27,500 (excluding VAT). Alternatively, individual sections can be purchased for R10,000 (excluding VAT). For additional information simply contact us at az.oc.yevrusthgisni@ofni or directly on (021) 045-0202.

For a full brochure please go to: South African Vitamins Landscape Report 2019

Please note that we have also released the South African Supplements Industry Landscape Report 2019 (138 pages). The 138-page report is available for purchase for R27,500 (excluding VAT). Alternatively, individual sections can be purchased for R10,000 (excluding VAT).

For a full brochure please go to: South African Supplements Landscape Report 2019

About Insight Survey:

Insight Survey is a South African B2B market research company with more than 10 years of heritage, focusing on business-to-business (B2B) and industry research to ensure smarter, more-profitable business decisions are made with reduced investment risk.

We offer market research solutions to help you to successfully improve or expand your business, enter new markets, launch new products or better understand your internal or external environment.

Our bespoke Competitive Business Intelligence Research can help give you the edge in a global marketplace, empowering your business to overcome industry challenges quickly and effectively, and enabling you to realise your potential and achieve your vision.

From strategic overviews of your business’s competitive environment through to specific competitor profiles, our customised Competitive Intelligence Research is designed to meet your unique needs.

For more information, go to www.insightsurvey.co.za