Boston, MA -- (ReleaseWire) -- 06/18/2014 -- Children's health continued to be extremely important and helped push the category as parents shelled out more dollars to boost the health of their children. In 2013, paediatric vitamins and daily supplements experienced 12% growth amounting to US$660 million. As parents are able to increase their budgets, the lessons learned during the recession are still ingrained in their minds. As such they are looking for ways to prevent unnecessary medical bills by keeping their children healthy by any means possible. These preventative measures have helped the category grow. In particular, the increasing use of gummies and similar products are driving a tremendous amount of the growth of paediatric vitamins and daily supplements, as children are much more easily convinced to consume them.
In vitamins and dietary supplements overall, the 5-Hour Energy brand continued to lead the category with a 4% value share. However, the company is losing share as other companies are growing at a faster rate. In 2013, the 5-Hour Energy brand grew 3% while the entire industry grew by 6% in current value terms. Nature Made grew 11% closing the gap with 5-Hour Energy.
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Rising healthcare costs, baby boomers and increased consumer health concerns will continue to propel the vitamins and dietary supplements industry. Vitamins and dietary supplements is expected to experience a CAGR of 6% in value sales at constant 2013 prices over the forecast period to reach US$32.4 billion. Along with continued growth in consumer education concerning effective public healthcare and preventative measures to sustain health in the general population, baby boomers represent an enormous opportunity for dietary supplement marketers as self-care becomes more important. Dietary supplements can be expected to play a key role in terms of feeding into the above-mentioned trends.
Discover the latest market trends and uncover sources of future market growth for the Vitamins and Dietary Supplements industry in USA with research from Euromonitor's team of in-country analysts.
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If you're in the Vitamins and Dietary Supplements industry in USA, our research will save you time and money while empowering you to make informed, profitable decisions.
The Vitamins and Dietary Supplements in USA market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
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