Unlike most of the large, traditional OTC players, small, independent OTC companies have recently recorded double-digit sales growth. These companies often outpace market growth by offering unique brands, uncommon and often natural ingredients, focused distribution, and a strong online presence, frequently combined with compelling digital marketing that resonates with today’s OTC consumers. Identifying these market disruptors and learning the factors that make them resonate with consumers and retailers is crucial. Continue reading
Kline will be publishing the 3rd edition of its Natural OTCs: Impact of Non-Drug Products on the U.S. OTC Market study later this month. One of the fastest-growing companies that emerged from the research is Irwin Naturals, based in Los Angeles, California. Founded in 1994, Irwin Naturals is a producer of soft gel-based herbal formulas sold in more than 90,000 retail outlets and online. The company markets a series of targeted herbal formulas in different lines for men, women, weight management, performance, and joint, heart, brain, and mood and energy support.
Select vitamin brands aimed at eye and brain health had significant sales gains in 2016, according to Kline’s just-published Nonprescription Drugs USA 2016 study. Preservision adult multivitamins for eye health, which is marketed by Valeant Pharmaceuticals, experienced sales growth over 20.0% in 2016, driven by a switch from print to television media for the brand and claims that “only Preservision’s formula has been proven to reduce the risk of progression of moderate to advanced Age-related Macular Degeneration (AMD) in the National Eye Institute’s Age-related Eye Disease Study (AREDS).” Preservision contains high potency antioxidants and minerals, such as 1,000mg omega-3 fatty acids, lutein, and zeaxanthin, and claims to be “the only clinically proven formula.”Continue reading
The U.S. market for nutritional supplements and wellness products is massive and valued at over $30 billion in annual retail sales. This remains an area that elicits strong consumer interest as people seek to preserve and improve their health and avoid illness. Products like digestive enzymes, vitamins and minerals, weight loss and management systems, and energy supplements provide many benefits for consumers, but confusion lingers among consumers due to the number of products available and nebulous product claims.
Mass nutrition brands sold through drug chains, mass merchandisers, health food stores, and specialty retailers account for the lion’s share of the market. Continue reading