The burden loss boom is pushing consumers to spend more on protein complement products, in response to latest data from The Vitamin Shoppe’s 2024 Health & Wellness Trend Report.
The report is an annual study of two,000 Americans that gives insight into top consumer trends within the dietary supplements industry. As more Americans take weight reduction treatments similar to GLP-1 drugs, in addition they are looking for ways to switch key nutrients like protein, because the medications are related to muscle loss and other unwanted side effects.
“It is a time of meaningful evolution,” said The Vitamin Shoppe CEO Lee Wright in the corporate’s annual report.
“Innovations similar to GLP-1 medications [are] driving increased attention on the importance of healthy nutrition while social media continues to create surges of interest in a big selection of health and wellness supplements and products,” Wright added.
Wright told CNBC’s “Squawk on the Street” on Tuesday morning that the expansion in weight reduction products is a welcome catalyst after consumers pulled back on vitamin and complement spending following the pandemic.
The Vitamin Shoppe logo.Â
John Greim | LightRocket | Getty Images
The corporate has been leaning more into protein supplements, multivitamins, fiber and probiotics through its “GLP-1 Dietary Support” program. The Vitamin Shoppe reported a ten% sales bump in ready-to-drink protein beverages in 2023 versus the prior 12 months.
Meanwhile, sales of meal alternative products and unflavored protein powder for the primary 4 months of 2024 rose 13% and 12%, respectively.
“We’re working with a council of doctors and nutritionists to make certain we offer consumers with a holistic approach to their weight reduction journey,” Wright said. “You don’t need to simply drop some weight, you wish to lose fat. You should make certain you are exercising and getting protein as well.”
Wright expects the shopper base for weight reduction products to triple as more Americans attempt to drop some weight.
In early May, The Vitamin Shoppe also launched its own telehealth service, “Whole Health Rx,” which incorporates access to branded and compounded GLP-1 weight reduction drugs. Last week, the corporate added additional branded weight reduction options Zepbound and Wegovy, together with diabetes treatments Ozempic, Mounjaro and Rybelsus, which had already been available.
This was the primary 12 months GLP-1s appeared in the corporate’s trend report.
When asked which methods they might seriously consider to administer or drop some weight, 52% of respondents said they might increase exercise and activity, while 26% said they would prioritize weight loss plan programs. Meantime, 17% said they might seriously think about using GLP-1 medications.
