CHICAGO, Oct. 16, 2023 /PRNewswire/ — The Industry Transparency Center (ITC) is excited to unveil three new insight reports, the first roll out from its 2023 Consumer Insights program. Now available for purchase and immediate download on ITC’s website, this first tranche includes supplement consumer insights from 6 countries, featuring all ingredient categories, then a deep dive into prebiotics, collagen and curcumin. This 6th annual survey covers supplement users; in the next few weeks results from ITC’s 2023 Functional Foods & Beverage consumers will be released.
“It’s exciting to see this data in use. Companies are measuring branded ingredient awareness, identifying gaps and white space, and re-thinking target demographics. It’s a fluid market and you’ve got to be smart and efficient – ITC Insights allows companies to make confident early moves to smash their competition,” said Len Monheit, CEO, Industry Transparency Center.
Some key insights from the 2021 ITC Insights Supplement Consumer Survey data:
- General health and well-being are overwhelmingly mentioned as reasons for taking health supplements (70%).
- Overall supplement users said they take supplements to help with lack of energy and that’s largely driven by respondents in Italy and is the top response in Australia as well; anxiety and stress is next in both countries as well as being the top response in the US.
- Criteria was adjusted in 2023 to try and remove more consumers who weren’t familiar with branded ingredients, which resulted in appreciation and willingness to pay dropping slightly, but there’s still strong appreciation for branded ingredients.
- Quality was the attribute global supplement consumers were most willing to pay a premium for with over 10% of respondents willing to pay over a 20% premium.
Conducted in Spring 2023, the ITC Insights Supplement Consumer Survey encapsulates the buying behaviors and priorities of dietary and food supplement consumers (3500 in total) from the US, UK, Germany (DE), Italy (IT), South Korea (KR), and Australia (AU). In order to participate, respondents for this survey must be supplement users.
The reports commence with an examination of general supplement usage, covering popular categories like multivitamins, vitamin D, and omega-3s. A subsequent, intricate analysis is focused on specific ingredient categories. The comprehensive study evaluates health concerns, shopping preferences, spending habits, and considerations for branded ingredients among consumers. Additionally, the reports explore the pivotal factors influencing purchases, information sources that consumers rely upon, and their values oriented around trust, transparency, and sustainability.
ITC remains at the forefront of fostering industry transparency, providing pivotal insights that not only unveil prevailing trends but also anticipate future trajectories in the consumer supplement landscape. These reports are instrumental for industry stakeholders aiming to navigate and thrive amidst the dynamic market conditions.
Stay tuned for subsequent reports, slated for release before the year concludes, as we continue to unveil insights that shape and define the global supplement and health ingredient industry. For more information or to access the reports, visit ITC’s website.
About the Industry Transparency Center
The Industry Transparency Center (ITC) is a strategy and insights firm driving transparency in the health ingredients and natural products industries through four key pillars: Insights, Stewardship, Strategy, and Community. ITC provides guidance to organizations across the globe via strategic insights, category stewardship, world-class events and thought leadership. ITC also operates the Global Prebiotic Association, Collagen Stewardship Alliance and Coconut Coalition of the Americas. Learn more at ITCStrategy.com
Industry Transparency Center
SOURCE Industry Transparency Center