Data Shows Why You Should Private Label Weight Loss Supplements Before The New Year
Recently, research studies predict a continuous increase in demand for weight loss supplements. By the year 2020, the demand is expected to reach nearly five billion dollars in revenue. An in-depth analysis is provided in the Global Weight Loss Supplement Market 2016-2020 Report.
Emerging Trends & Greater Demand
In 2015, North America moved into the number one position leading the market. Increasing customer awareness, improvements in product offerings, and focused promotions are a few of the factors driving the growth in private label weight loss supplement sector. Continued “fast growing” demand over the next four years is highly anticipated as noted by lead analysts.
2015 Market Distribution in USD millions
- Retail Stores – 2208
- Direct Selling – 624
- Online Sales – 607
- Other – 259
Retail Store Market Segment
Currently, the largest segment in the market for weight loss supplements is the retail store. In 2015, the value of the segment was 2.2 billion USD. This segment includes supermarkets as well as drug stores. Larger retail stores can offer a wider range of options to their customers. Factors contributing to the increase in retail sales include growth of middle class, amplified number of working women, and increase in urbanization.
Direct Selling Market Segment
The next largest market segment offering weight loss supplements (including private label brands) is direct selling. In 2015, the value of this sector held 624 million USD in sales. Advantages of direct selling include more personal service to customers, feedback options, and lower operational costs.
Online Selling Market Segment
Last year, the online selling market segment provided 607 million USD in sales. This sector is the fastest growing market for weight loss supplement sales, including private label options. Individuals are seeking more convenience to shop and purchase online. Products are available around the clock, highly convenient, and are shipped directly to the customer.
Positioning for Increased Demand
With increasing demand for private label weight loss supplements, positioning your company for success is highly important. Better sales opportunities are simply part of the benefit of offering private label products. Consider the following incentives.
- Control over pricing, design, and distribution
- Customization of logos and taglines
- Personalization for the shoppers’ experience
- Gain higher customer loyalty
- Provide private label products at lower prices
- Increased value offered to customers
- Capitalization on increasing demand
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