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How well is SA's vitamins and supplements market?

Stimulated by an ageing global population and increased focus on health, wellness and preventative healthcare, there has been significant growth in the vitamins and dietary supplements market. Interestingly, the global market has managed to appeal to all consumer segments with no discrimination in terms of dietary habits, culture, age or gender. We investigate if the South African market has followed the global growth trend or become another victim of the sluggish South African economy.

Insight Survey’s latest South African Vitamins and Supplements Landscape Report 2018 carefully unfolds the global and local Vitamins and Supplements markets based on the latest information and research. It looks at market trends, drivers and restraints as well as market growth to present an objective overview of the South African Vitamins and Supplements market and its future.

The global Vitamins and Dietary Supplements market was valued at US$132.8bn in 2016 and is projected to grow at a compound annual growth rate (CAGR) of 8.8% up to 2022. The Asia-Pacific region continues to lead the global market and is expected to dominate the market up to 2022. Within the Asia-Pacific region, China, Japan and South Korea represent the three largest markets and Dietary Supplements is currently the leading product market segment.

Source: : Graphics by Insight Survey
Source: Euromonitor: Graphics by Insight Survey

Despite the challenging economy, value sales in the Vitamins market increased significantly between 2012 and 2017 with a compound annual growth rate (CAGR) of 12.9% over the period. The Dietary Supplements market also increased at a compound annual growth rate (CAGR) of 10.9% over the same period.

Following global trends, growth within the South African market continues to be fuelled by higher levels of consumer awareness about well-being and preventative healthcare. There has also been a strong trend in terms of self-care and online purchasing. Furthermore, the increase in the prevalence of lifestyle diseases and the rise of the active lifestyle trend has significantly driven sales of Vitamins and Supplements. Immune-Boosting Supplements and Probiotics have gained massive popularity as boosting immunity and good digestive health remains high on the health ‘wish list’.

However, the Vitamins and Supplements industry also faces several challenges that could hamper the strong growth being witnessed. For example, the tightening of regulatory requirements and legislation governing Complementary and Alternative Medicines (CAM’S) under which Vitamins and Dietary Supplements are classified continues to pose a significant challenge for the growth of the local Vitamins and Supplements market.

The South African Vitamins and Supplements Landscape Report 2018 (97 pages) provides a dynamic synthesis of industry research, examining the local and global Vitamins and Supplements industry from a uniquely holistic perspective, with detailed insights into the entire value chain – from manufacturing to retailing, market size trends, industry trends, industry drivers & challenges, competitor and pricing analysis.

Some key questions the report will help you to answer:

  • What are the current market dynamics of the global Vitamins and Supplements industry?
  • What are the SA Vitamins and Supplements industry trends, drivers, and restraints?
  • What is the market size and volume trends (2012-2017) for the SA Vitamins and Supplements industry?
  • Who are the key manufacturing and retail players in the SA Vitamins and Supplements industry?
  • What are the prices of the most frequently purchased Vitamin and Supplement brands across SA retail outlets?

Please note that the 97-page PowerPoint report is available for purchase for R25,000 (excluding VAT). Alternatively, individual sections can be purchased for R9,000 (excluding VAT). For additional information simply contact us at az.oc.yevrusthgisni@ofni or directly on (0)21 045-0202.

For a full brochure please go to: South African Vitamins and Supplements Landscape Report 2018

About Insight Survey:

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

We offer B2B 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.

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19 Feb 2018 12:03