Industry Analysis & Industry Trends
The Vitamin and Supplement Stores industry has toughened up after lacklustre growth during the post-financial crisis years. Over this period, consumer expenditure on vitamins and supplements fell, amid low sentiment and increased levels of savings. Consumers seeking vitamins and supplements shifted to cheaper, low value-added varieties sold through supermarkets, grocery stores and pharmacies. However, as the economy picked up, consumers again returned to specialist vitamin and supplement stores. The industry has been further assisted by recovering consumer confidence and growing health consciousness. Employee product knowledge has been a key area of industry growth, with customers willing to pay extra for advice on healthy eating and suitable dietary supplements... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Vitamin and Supplement Stores industry operates with a low level of market share concentration. With no major players commanding a significant market share, the industry is highly fragmented. Healthy Life has the highest number of franchised stores in the market, which together are estimated to account for 15.1% of the market. GNC LiveWell stores are collectively estimated to account for 4.0% of industry revenue.
Over the next five years, a greater number of vitamin and supplement stores are expected to enter the market and capitalise on the growing demand for health products. These will include both franchised and independently owned stores... purchase to read more