Consumer attitudes related to mental health and emotional wellbeing are expected to continue to drive the need for innovation to improve mood and reduce stress, according to ingredients and supplement manufacturer Nexira Health. An Innova Market Insights report cited by the company reveals that 53% of global consumers have taken action to improve their physical wellbeing, while 44% have acted to improve their mental and emotional wellbeing.
Nexira also noted that supplement launches over the past five years have increased by 26%; after immune health, the second most launched claim is brain-mood health (+25%). To emphasise wellbeing and mood health in 2023, Nexira is highlighting Serenzo, a supplement ingredient based on sweet orange essential oil formulated with acacia gum designed specifically for mental and emotional wellbeing. In a 12-week consumer study, Serenzo supplementation reduced subjective feelings of stress by 50%, significantly improved mental load and appeared to boost mood and emotional wellbeing.
Nicholas Hall Writes: Isn’t it strange how the pandemic has changed public perception of consumer healthcare? Perhaps it was to be expected that consumers would move away from the previously unstoppable prevention trend and spend more of their disposable income on treatments with tangible benefits. But who could have predicted that in the search for immunity, consumers would be more attracted to general products like vitamin C and multivitamins than more specific brands. The relative failure of antiviral products like ColdZyme is a real mystery to me. If these brands cannot succeed during the worst pandemic the world has experienced in the hundred years since the Spanish flu, when can they? On the other hand, consumers have reached out directly to OTCs and supplements that improve the quality of sleep and reduce stress. This will put a massive premium on the price that potential acquirers will have to pay for mega-successful brands like Prevagen and Natrol.
With these growing lifestyle niches, the market seems even more wide open to new entrants. Nestlé Health Science and Unilever have made big inroads into the VMS sector, with particular success in e-Commerce, which accounts for 40-50% of their health & wellbeing businesses. It seems that Big Tobacco is also circling and may look to dig deeper in attractive adjacent categories such as CBD; and I am fascinated by the news story that the packaged fruits marketer, Dole, is keen to reposition itself after 170 years as primarily a purpose-led health & wellness company.