In recent research, the market research expert, Innova, has highlighted the power of dietary supplements and how consumers have driven growth in this category. Parallel demands and circumstances have significantly impacted the category of dietary supplements.
The first is the consumer desire for better immune health, a direct result of the pandemic. The second is the demand for bettered sleep, relaxation, and emotional balance, which has propelled new product development to cater to these consumer needs.
Within the segment of new product development, immune health is the most influential demand, with one-third of new products delivering an immunity benefit of one form or another.
The introduction of new supplements to the market increased at a CAGR of 33 percent between 2017 to 2021, with sleep-based products growing at a massive CAGR of 74 percent, with the general mood and brain health supplements coming in at a CAGR of 48 percent.
Consumers' demand for supplements that support mental health has coincided with the increase in plant-based ingredients and active botanicals. CBD or hemp has seen the most significant amount of growth, the benefits for which it is popular, including sleep, anxiety relief, and depression, being areas of concern for consumers that need to be addressed and supported. Mushrooms follow this with their benefits of immune and health support, anxiety relief and fatigue reduction being significant to consumers. Ashwagandha is a popular ingredient, with the herb having been claimed to be traditionally used in ayurvedic medicine to decrease symptoms of mild anxiety.
Gut health and its relationship to mental health has also driven innovation in the supplement category. Probiotics are closely associated with gut health, and Innova shared that the broader role of the ingredient was being more widely understood and exploited.
Mental health supplements are expected to grow for the foreseeable future as the connection between body and mental health becomes more prevalent and with the increased consumer concern and knowledge and health.