2020 is a year of some massive changes. COVID-19 pandemic has made us all think about our health and the ways to improve our immune system. FMCG Gurus has recently analyzed how COVID-19 has affected nutraceutical trends, and the attitude of customers towards nutritional supplements this year.
FMCG Gurus is dedicated to providing market research about consumer trends and behaviors across supplement, food, and beverage industries. Their mission is to map these trends, present them, and help businesses set their strategy and achieve goals.
According to the results of their survey, the good news is that more people are looking for ways to improve their health. Although 6 in 10 customers rate their health status as good, they are actively seeking ways to improve it. When asked about what those improvements were, participants mostly mentioned eating healthier foods, exercising more, and trying to improve their sleep habits.
When it comes to nutritional supplements, 21% of consumers incorporated them into their everyday lives in an attempt to improve health.
30% of nutraceutical users have been consuming them for less than six months. These numbers show that there is a considerable portion of new supplement consumers, who are more worried about their health in light of COVID-19 pandemic. In fact, 57% of consumers are now concerned about their immune systems because of the pandemic.
The results highlight the impact of coronavirus on global supplement trends, and these events will probably continue to shape it in the months and possibly years to come.
Consumer preferences showed that capsules and tablets were the most popular choice for nutritional supplement form. 81% of the people stated that they would spend more money if nutraceuticals offered to improve their immune system health.
That indicates that consumers can recognize top quality products, and are interested in paying more to get better efficacy. However, 62% of consumers would be interested in subscription-based product offers with lower prices, as consumers can often find nutritional supplements expensive.
Out of the consumers that weren’t using nutraceuticals at the time, 27% reported using them in the past. The most common reason for stopping is high prices, with 67% of people choosing this as a reason not to use nutritional supplements anymore.
People who have never consumed nutritional supplements have a firm stand, as 67% prefer to acquire needed nutrients from foods and beverages. This calls for supplement companies to invest more time in educating customers, as both parties can benefit from better education. People will learn the benefits of using dietary supplements, while brands can acquire more potential customers. More than 50% of people said they would possibly incorporate nutraceuticals into their daily routine if they were better informed about ingredients and products.
While the COVID-19 pandemic continues, it will be interesting to see how consumer opinion on dietary supplements changes, as people will have to choose between health-enhancing benefits and possible financial instability.