People worldwide are realizing the importance of good health, which is fueling a surge in interest in everything that promotes it.More people are looking for treatments to cure themselves and to help them stay healthy well into their later years. Health is not only a goal. It is both a lifestyle decision and a flourishing consumer market. Sales of print on demand supplements have increased dramatically over the last decade, and many new companies have entered the market. Over the forecast period 2020-2025, the global Dietary Supplements market is expected to grow at a CAGR of around 7.20 percent.
WHATS DRIVING THE RISE IN PRINT ON DEMAND SUPPLEMENTS?
1. A growing elderly population.
Much has been written about how the aging of the baby boomers will affect the economy. Their sheer numbers will shift healthcare spending and realign markets, creating significant new opportunities. The phenomenon can already be seen in the vitamin and dietary supplement industries. 57.6 percent of U.S. adults aged 20 and up used a dietary supplement, with women (63.8 percent) using more than men (50.8 percent).
2. Increased consumer awareness of the importance of preventative healthcare.
A glance at magazine racks, TV lineups, and news articles reveals that many Americans have an almost insatiable hunger for preventative healthcare information. Celebrity doctors, online forums, and magazines provide diet and lifestyle advice and regular information about new products. This onslaught of information has been a major motivator for consumer purchases.
The efforts of print on demand providers, who have increased their marketing efforts aimed directly at consumers, have also contributed to increased consumer awareness. Such marketing focuses on new product innovation and improved product effectiveness and safety. As a result, it has effectively influenced a wide range of customers.
3. The self-directed consumer is on the rise.
Gone are the days when general practitioners provided all of the answers to their patients. Consumers are increasingly using alternative channels to self-diagnose and identify specific health needs. According to research, 74% of U.S. adults use the internet, and 61% have looked for health information on the internet. Furthermore, 49% have visited a website that provides information about a specific medical condition or problem. The majority of people use the internet before and after going to the doctor.
This trend has benefitted greatly print on demand providers because many customers are taking their health into their own hands. Print on demand businesses have urged this self-directed behavior by improving their education and marketing efforts. Furthermore, as customers become more educated, they become more interested in personalized print on demand solutions. They are using online tools provided to create a personalized treatment plan.
4. Proliferation of channels.
Print on demand companies are highly fragmented, and they are utilizing new sales channels to reach a wide and varied set of customers. This fragmentation is caused by a general lack of brand awareness and consumer loyalty. Retailers contributes to channel proliferation as they have grown in popularity due to improved product quality and white label options. Internet sales have increased significantly, and this trend is expected to continue as customers become more accustomed to the convenience of online shopping to make repeat purchases.
5. A shift away from ingredient-specific messaging and toward broader brand positioning.
Print on demand marketing has traditionally been focused on promoting a specific ingredient that discusses a consumer health need. This emphasis resulted in a market where print on demand products became commercialized, and customers had difficulty distinguishing between brands. To combat this, marketers have recently started to customize their customer communication to focus on a comprehensive benefits platform, intending to encourage the use of a broader range of products. They also utilize the benefits platform to achieve a differentiated, premium market positioning.
Strong category growth is expected to continue as consumers’ interest in health grows, and retailers work to position themselves as one-stop health and wellness locations. Taking on these challenges, however, is well worth it. The print on demand space expansion over the next decade provides a once-in-a-lifetime opportunity for manufacturers and retailers to capitalize on a strong growth sector. If you want to profit from this growth, Fulfillplex can assist you. Visit us now to learn more and get a quote.