Rising Inflation Pushes Consumers to Reprioritize Wellness, Growth Persists in Key Areas

Nearly 40% of people prefer alternative medicine and 44% say they try less to turn to modern medicine, according to a new report from Evergi, a platform offered by market research firm Brightfield Group that provides market research. market and consumer for the wellness, food and CPG sectors.

So what does this mean for dietary supplements? The research found that sales of reliable ingredients such as B-12 and vitamin D, and alternative staples such as turmeric and ginger increased in the last quarter.

Reliability is key

“The category as a whole is growing steadily, but the main growth is in a few key vitamins and supplements,” explained Brightfield Group Chief Executive Bethany Gomez. “Over the past year, we have seen an increase in the number of people buying familiar and trusted vitamins that have been thoroughly researched, such as multivitamins, vitamins D and C, and zinc. We have also seen an increase in turmeric and elderberry herbal supplements – and although they are a detour from modern medicine, both are products that people are comfortable with.

Gomez added that over the past quarter, Brightfield has seen growth in more targeted supplements, such as weight loss supplements, mood enhancers, and hair/skin/nail supplements.

Research found vitamin B12, vitamin D, fish oil, and prebiotics and probiotics to be popular among ultra-conscious middle-income consumers.

“These vitamins have known benefits, backed by years of research and science. In a time when people have to squeeze their wallets, they want to spend money on things they deem worthwhile, rather than try less researched supplements These supplements (with the exception of pre/postbiotics) also tend to have a lower price, which means the cost/risk ratio is lower People want to spend their money on things that they know works and that their body needs,”said Gomez.

Brightfield is also noticing more conversations around ingredients like collagen and vitamin C, suggesting the industry could see more growth in these categories in the coming months.

Other trends

Improved waters also increased in the second quarter, with electrolytes and ionized/alkaline water up 12%, suggesting people are looking for more function in their hydration.

Sleep and energy have also continued to increase over the past 6 months. The survey noted that even though the state of the need for digestion was down in its consumption data, social communication continues to increase, suggesting an increase in consumer consumption in this area in the coming months. The growth of conversations about digestive health has been spurred by the increase in discussions about gut health combined with probiotics and IBS.

Additionally, plant-based social conversations continue to show a slow decline as we enter the third quarter. Consumers who follow plant-based diets, such as vegan, vegetarian, and plant-based diets, make up about 10% of US consumers. This group has been slowly declining, with the report suggesting that finances may be to blame for the drop in plant-based consumption.

“Don’t count the herbal category yet,” said Gomez. “There may be a slight pullback from people now, but once their economic outlook picks up, the interest is still there and they will start exploring again. “

Data gathering

Brightfield Group’s Evergi research uses in-depth survey data, social listening and expert analysis to study the impact of the economy on the use of dietary supplements.

The market research company extracts social data from Twitter and Instagram posts using wellness-related keywords. Posts are tagged by product type and subtype, medical conditions, ingredients, needs, and related keywords. Evergi said he plans to add TikTok and other influential data to social media platforms in the future. Gomez said they always use TikTok to stay on top of trends by curating their feed and manually finding the latest and greatest fashions. For example, aloe vera made it into the report for the first time, likely due to a previous TikTok trend touting the health benefits of aloe vera.

With in-depth survey data integrated with social media, users can filter and get answers on: consumer demographics, consumer attitudes and behaviors, brand affinities, usage and interest in a wide range of products and functional ingredients.

Predictions

Gomez said given the economy status, the market is likely to see brands offering more all-in-one functional items.

. “If you can buy a protein powder that also supports your daily immunity and energy needs, that’s a lot more appealing to people than having to buy 3 different products or go without. Buyers are focused on smart spending to get through the economic crisis, and we can expect people to continue having to make choices like this soon,”she says.

About John Tuttle

Check Also

New FDA draft guidelines aim to protect children participating in clinical trials

SILVER SPRING, MD., September 23, 2022 /PRNewswire/ — Today, the United States Food and Drug …