One of the largest areas of the health and wellness market is the supplement industry. These days, there is a supplement for almost anything. Whether you want to maintain your health, improve your sleep, feel more energised or manage certain health conditions, you will most likely be able to find a supplement to help you. Taking supplements is an easy and affordable fix to supporting the health of individuals, which is why they are so popular.
The popularity and versatility of the supplement industry tempt many people to start their own business in this field. Before starting any business, market research is key, so if you are thinking about going into the supplement industry, here are 4 things you need to know and understand before you get started.
Your Potential Audience
Identifying your potential audience is crucial for any business to succeed and is something you should do before setting yours up in the supplement industry. First, you need to know which generations take supplements the most. This will help you to market your business correctly. If you are planning on selling certain types of supplements, you need to know who takes what supplement and how much money it makes in order to succeed. While many people re tempted to target their business towards younger generations, older generations usually need and use supplements more, so it is worth doing what you can to market to those individuals too.
Most Popular Supplements
If you are choosing to sell particular supplements, then stocking at least one popular supplement is a good idea, as this will get people interested in your business. The most popular supplement category is by far vitamins and minerals. These supplements are simple, easily accessible and uncomplicated. People know that taking these supplements will fill vital gaps in their nutrition and support their health, which can appear in the most healthy and balanced diets. The top five supplements in this category include B complex, calcium, vitamin C, vitamin D and the most popular, multivitamins.
Understanding Specialty Supplements
As well as knowing the most popular supplement category, making yourself aware of the top specialty supplements is important too. This is important because specialty supplements are the next most popular category after vitamins and minerals. Just like vitamins and minerals, specialty supplements are fairly straightforward and accessible; however, when it comes to achieving certain goals and levels of health, specialty supplements are more specific and give you that extra support that you know you need to improve your health. The top five specialty supplements are omega 3 fatty acids, fiber, probiotics, CoQ10 and digestive enzymes.
Types of Capsules
Knowing the different supplements that people want is the first step, but in order to make a product people want and to be successful, you need to understand the different types of capsules. Both capsules and tablets are very popular and they both work by transporting the supplement to your body via your digestive tract. However, they both have pros and cons. If you choose to distribute your supplements in capsules, then you should go for empty capsules in the most popular sizes. You should also look into gelatin-free capsules, as this will encourage those with specific diets to purchase supplements from your business instead of others.
There are many aspects of the supplement industry that you need to know before you start up a business in this area. Having a basic understanding and a passion for the industry will make it easier for your business to stand out and succeed in this competitive field, which is the ultimate goal for any entrepreneur.
