Three NBJ insights to help you prepare for Expo West
1. New Hemp CBD products span categories, but the bulk of sales still comes from supplement Initial NBJ estimates indicate the Hemp CBD market brought in nearly $900 million in 2019. Across categories, growth was strongest in topicals, at an estimated 180% as mainstream grocery and drug chains added product lines. There is also a lot of buzz around food and beverage products, such as sparkling water and chocolate with added Hemp CBD, though sales in 2019 were fairly small, under $20 million. Hemp CBD supplements, including tinctures, oils, capsules and gummies, continue to draw the largest market size, with an estimated 69.5% of sales in 2019. 2. Non-pill delivery formats of supplements now represent over half of annual sales Consumer interest in novel and alternative delivery formats continues to surge, with annual sales of non-pill formats eclipsing pill-format sales for the first time in 2019. Expect to see product launches across a variety of formats, with a particular focus on fun, novel concepts and convenience. Growth has been strongest in the past year in shots, though gummies have gained the most market share over the past five years. This trend is spanning all supplement categories, from vitamins and minerals to specialty products like collagen. 3. Immunity supplements continue strong growth, with estimated 8% lift in 2019 The combined cold, flu and immunity category has always trended with the severity of the cold and flu season – growth is stronger in years with a bad flu season. Given the 2017-2019 severe flu seasons, it makes sense that growth for cold, flu and immunity supplements spiked to 9.9% in 2017 and 7.5% in 2018. Initial estimates point to continued momentum in the category, with growth of over 8% in 2019. Even beyond the highly publicized illness, consumer demand is increasing for immunity and cold prevention, as well as more holistic and homeopathic solutions for cold and flu symptoms.
|