This report highlights the results of Euromonitor International’s 2024 Voice of the Consumer: Health & Nutrition Survey, uncovering key trends in relation to the consumer health industry. Consumer trends explored include the battle between branded and generic OTCs, the rise of holistic health, and the evolution of the vitamins and dietary supplements space.
This report comes in PPT.
The definition of health continues to shift beyond traditional factors linked to physical wellbeing, with consumers increasingly requiring holistic solutions that also encompass their mental, emotional and nutritional needs. Greater awareness and focus on this has contributed to more consumers rating themselves as healthy in 2024 than in 2019. Despite this progress, more could be done by consumer health players to address areas of need such as stress and anxiety.
The market for women’s health products within consumer health remains relatively untapped, and presents significant growth opportunities, as the appetite among women to self-medicate is strong. Women are showing an inclination to self-medicate to treat issues such as maternal health, menopause and menstrual pain, but many feel that these treatments are ineffective. As such, more attention and investment is required in the industry to address these health needs.
Branded OTC products remained more popular among consumers than generic alternatives in 2024, owing to longstanding loyalty and recommendations from health professionals. However, this preference has softened, as consumers are becoming more selective regarding the categories in which they purchase branded products, as a result of high inflation in recent years and their consequently having to absorb price rises.
Knowledge of vitamins and dietary supplements continues to grow steadily, but consumer habits vary considerably by gender and generation. Older groups are more heavily reliant on advice from healthcare professionals, while Gen Z and Millennials use a broader array of sources. Millennials are more likely to use traditional digital channels, like online browsing and social media, while Gen Z consumers tend to utilise emerging resources, like fitness apps.
It is the aggregation of OTC, Vitamins and Dietary Supplements (VDS), Sports Nutrition, and Weight Management and Wellbeing
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