Is SA's supplements market being enhanced from the inside out?
Global and South African consumers' view of wellness has evolved over the past few years, especially considering the Covid-19 pandemic. In particular, consumers are increasingly viewing their health and wellbeing through a broader and more holistic lens, with their view of health encompassing both physical and mental health, as well as a healthy appearance. This has resulted in more consumers opting for Supplement products that can improve their overall wellbeing, as well as a host of new products being launched, that offer both internal and external benefits to make consumers look and feel better.
Insight Survey’s latest SA Supplements Industry Landscape Report 2022 carefully uncovers the global and local supplements market (including the impact of Covid-19), based on the latest information and research. It describes the latest global and local market trends, innovation and technology, drivers, and challenges, to present an objective insight into the South African Supplements market environment and its future.
Globally, the Dietary Supplements market is expected to experience continued growth over the forecast period, at a compound annual growth rate (CAGR) of 8.7%. As a result of this growth, the total value of the market is expected to reach approximately US$128.6bn in 2028, from US$71.8bn in 2021, as illustrated in the graph below.
Within a local context, the South African Dietary Supplements market is expected to grow at an even stronger rate, with an expected CAGR of 13.5%, between the forecast period 2022 to 2026. This growth, both locally and globally, can largely be attributed to the increasing prioritisation of a holistic approach to health and wellness, with consumers increasingly turning towards Supplements that meet both their internal and external wellness needs.
This includes consumers making use of Supplements to improve their internal health and wellbeing, such as improving their mental health, cognitive function, stress levels, as well as immunity, and even digestion.
This has been exacerbated in recent times, due to the Covid-19 pandemic, which has had an immense impact on consumer mental health, especially in terms of stress and anxiety levels. As such, more consumers have been making use of Supplements as part of their active stress management, and a range of new products has been launched to assist with easing anxious minds. For example, HG&H Pharmaceuticals’ released its new Zembrin product, which is an evidence-based botanical Supplement that assists with the management of stress levels.
Furthermore, the consumption of nootropics has been gaining momentum in South Africa, especially amongst students, professionals, and shift workers, who typically work long hours. Popular products, such as The Prime Mind and SpermidineLIFE Original 365, are being used for their cognitive health benefits, including assisting with improving concentration, brain health, and mood, as well as being used to boost energy and enhance memory.
In terms of external wellness, nutricosmetics have remained a major trend in the global and South African Supplements market, with consumers seeking products that provide cosmetic benefits and improve skin health from the inside out. These include collagen Supplements, such as Le Bleu’s Pure Marine Collagen Supplement and Heaven Skin Care’s new Collagen Drops, as well as anti-aging products, such as LifeTime Supplements’ new Resveratrol product, which has recently been released into the South African market.
Additionally, an increased focus has been placed on a healthy weight and body, with consumers making use of Supplements to assist with achieving their weight goals and physical appearance. For example, Life Extension has recently launched its new Body Trim and Appetite Control nutritional Supplement formula, together with a smartphone app to support weight management. Similarly, in South Africa, Exipure South Africa recently launched a new herbal weight loss Supplement that is formulated to promote fat burning and day-to-day weight control.
The South African Supplements Industry Landscape Report 2022 (143 pages) provides a dynamic synthesis of industry research, examining the local and global Supplements industry (including the impact of Covid-19) from a uniquely holistic perspective, with detailed insights into the entire value chain – market size, industry trends, latest innovation and technology, key drivers and challenges, as well as manufacturer, distributor, retail, and pricing analysis.
Some key questions the report will help you to answer:
- What are the current market dynamics of the global Supplements industry (Dietary Supplements, Sports Non-Protein Supplements, and Weight Loss Supplements)?
- What are the latest global and South African Supplements industry trends, innovations and technology, drivers, and challenges?
- What are the market size value and volume trends in the South African Supplements market (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 Supplements industry and what brands/products do they offer?
- What is the latest company news for key Supplements players in terms of products, new launches, and marketing initiatives?
- What are the prices of popular Dietary Supplements, Sports Non-Protein Supplements, and Weight Loss Supplements brands and products across South African pharmacies and retail outlets?
Please note that the 143-page report is available for purchase for R30,000.00 (excluding VAT). Alternatively, individual sections can be purchased for R12,500.00 (excluding VAT). For more information, please email info@insightsurvey.co.za or call our Cape Town office on (021) 045-0202 or Johannesburg office on (010) 140- 5756.
For a full brochure please go to: South African Industry Landscape Report 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) 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.
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For more information, go to www.insightsurvey.co.za.
Insight Survey is a South African B2B market research company with almost 15 years of experience. We specialise in telephone interviews, online surveys, industry analysis and competitive intelligence to help improve or grow your business.
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