This report from Key Note looks at the UK market for vitamins, minerals and supplements (VMS). This includes the following products: single vitamins; multivitamins; fish and plant oils; glucosamines; minerals; and a variety of supplements. Products that are essentially herbal or homeopathic remedies are excluded from this definition; they are classified as alternative medicines and are analysed in a separate Key Note report. In addition, this report refers only to retail sales of VMS products, through chemist's shops and drugstores, grocery multiples, health-food shops, via direct mail and online.
Until recently, there had been growth in sales of multivitamin/multimineral formulations, single vitamins, glucosamine products and omega-3 fish oils. However, sales of many of these products are now falling, as are those of other minerals and supplements (particularly cod liver oil). Major influences on the market include the changing regulatory situation for VMS products in Europe and regular scientific reports questioning the value of taking many of these products. This has contributed to slow or negative market growth, and has resulted in consolidation among manufacturers.
The UK's ageing population profile will continue to benefit sales of VMS products, since in general consumption increases with age. Manufacturers are increasingly producing vitamin and supplement formulations that are targeted more specifically at age-related conditions, such as those affecting the heart, brain, eyes and joints. Some of the most successful VMS products in recent years have been those containing glucosamines, CoEnzyme Q10 and omega-3 fish oils. Additionally, there is greater overall interest in healthy lifestyles and greater affluence among the older population.
Sources of information used in this report include food and health trade associations and institutes, Government studies, manufacturers' websites, trade journals, sales data from IRI (Information Resources International) and TNS (Taylor Nelson Sofres), advertising data from Nielsen Media Research and consumer data from BMRB International's Target Group Index (TGI). Additionally, NEMS Market Research was commissioned by Key Note to carry out original research into consumer attitudes towards VMS products.
This report is available to current London Business School staff, students and faculty from Key Note Online which can be found on the A-Z list of library databases via Portal.
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