FLOURISHING E-COMMERCE IN THE SUPPLEMENT MARKET
Growth in e-commerce sales has been one of the most significant changes seen in the supplement industry over the last few years.
The wellness market was already growing before COVID-19, with European millennials generally having more interest in overall health and wellness products, by drinking less alcohol, smoking less cigarettes, and going to the gym more.
Once the pandemic began, e-commerce became the new purchasing channel for many users, and the consumer demand for dietary supplements quickly rose.
For instance, the outbreak of the pandemic in Poland had a significant impact on the volume of product sales: from February to March 2020, products from the health category, such as dietary supplements or OTC drugs hit a sales record.
Dietary supplements, especially vitamin C, elderberry, and general wellness supplements, are majorly consumed to enhance the intake of essential nutritional components in the human body.
In the post-pandemic, will supplement consumers go back to their prior purchasing habits from bricks and mortar retailers? Or is the e-commerce trend here to stay?
Many of the consumers who switched to online supplement purchasing during the pandemic will continue to do so.
The European dietary supplements market was valued at 14,995.3 million USD in 2020, and it is expected to reach a CAGR of 5.49% from 2021 to 2026. According to Nutrition Business Journal’s “Supplement Business Report”, supplement e-commerce is expected to overcome 10 billion USD in 2022 (reaching almost 20% of all supplement sales).
Vitamins, minerals, herbs/botanicals, sports nutrition, meal supplements are all segments whose e-commerce value will keep growing in the next years.
Major players in the European dietary supplements market as Amway, Glaxosmithkline PLC, Reckitt Benckiser Group PLC, and NutraHealth PLC, are increasing their investments in research to expand and maintain their presence in the market, as well as developing innovative products to keep up with consumers’ needs.