The US vitamins market grew by 4% in current value terms through 2012, to reach US$9.3 billion. As the base for vitamin users continued to grow, many focused on targeted benefits which fed into the strength of sales of single vitamins such as vitamin D and vitamin B.
Through the recession, the industry managed to grow on the back of decreased access to health insurance, which led consumers to purchase vitamins as alternatives to expensive prescription drugs.
Multivitamins maintained 2% current value growth and single vitamins also maintained the same 7% current value growth that it did in the previous year. Certain single vitamins such as vitamin D, C and B saw the strongest levels of growth while Vitamin E was more moderate at just over 1% for 2012.
The ageing baby boomer population also bolstered growth within the US vitamin market through 2012. An increased focus on healthy living coupled with the focus on the cost of medical care in the wake of healthcare legislation propelled concern amongst the elderly to invest in vitamins and dietary supplements.
The share of the elderly purchasing vitamins and dietary supplements grew by 10% in value size in 2012, and has shown a compound annual growth rate (CAGR) of 7% since 2007.
A variety of vitamin manufacturers are trying out different delivery formats including chews, gummies, RTDs and melts. In order for companies to reach out to broader audiences they have had to create formats which are more accessible and simple for consumers with on-the-go lifestyles. Additionally, customers are more easily inclined to purchase vitamins which taste better and are smaller.
The US vitamins market remains extremely fragmented, with the top five companies accounting for a 20% combined value share. Living Essentials took the lead with a 6% value share in 2012, closely followed by NBTY with a share of 5.4%.
Over the coming years the growing consumer education concerning effective public healthcare and preventative measures to sustain health will not abate, and as such, vitamins and dietary supplements will continue to reap the rewards of that growing awareness.
For more information on the US vitamins market, see the latest research: US Vitamins Market
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