How Riize is leading the changes in the supplement industry
Consumer expectations have changed
While trends toward more natural products began in the 1970s and 80s, consumer interest and demand for naturally sourced, clean and organic products has virtually exploded from the 2000s on. Some of the factors driving this include the amount of information available along with the growing awareness that natural sources are healthier for both the body and the planet. Further substantial changes in consumer behavior began to take place during the pandemic, with more focus on pursuing meaningful, purposeful living. As part of that, health and self-care were redefined and became a greater priority for many people, including incorporating more healthy and natural products. Consumers want more details now. They want to know what is in the natural extracts and ingredients, why they are important, and how the products they consume and use are created.
This trend of increased consumer awareness and higher expectations has affected many different types of products, from clothing, household items and beauty products, to food, drinks, and supplements. Of these, the supplement industry is the one due for some major disruptions, due to its continued rapid growth, product innovations and sheer size and diversity in the number of products available.
The beginning of supplements
Herbal substances and traditional medicines, mostly derived from plants, have historically been taken for therapeutic benefits and to augment, or supplement, the nutritional value of everyday foods. The practice was common in the cultures of many ancient herbalists, including those from Egypt, China, India and Greece. By 50 AD, the Romans, heavily influenced by Greek medical traditions, established cultivation of herbal medicines. However, it could be said that supplements in modern times began with the discovery and identification of vitamins.
At the beginning of the 20th century (1900), only three essential nutrients were recognized within food - those being proteins, carbohydrates and fats. The idea or concept of vitamins (shortened from the term "vital amines") in food came from Polish biochemist Casimir Funk in 1913. It started with his observation that parts of unprocessed rice in chicken diets prevented them from developing certain nervous system dysfunctions. The "vital amine", or vitamin was then isolated in 1926, named thiamine, and later synthesized as vitamin B1 in 1936. Shortly before that, in 1932, vitamin C was also identified and isolated as a way to protect against scurvy. The growth and availability of the vitamins grew rapidly from then on, becoming the multibillion-dollar industry it is today.
Supplements: evolution to revolution
While vitamins are technically supplements, the term has come to include more than just vitamins. The Dietary Supplement Health and Education Act, passed by Congress in 1994, defines a supplement as any product that is intended to augment the nutritional value of everyday food intake, including vitamins, minerals, herbs, botanicals and amino acids.
The supplement market today is the result of a gradual but steady increase in consumer's interest in health and natural products. In every decade since the 1960s and 70s, consumers have increasingly prioritized health, longevity and preventive care, and the supplement industry has responded in-kind with products that have become more and more specialized. No longer is the focus simply on supplements that make you stronger or thinner. There is an increasing market share for supplements to benefit heart, brain, digestive and immune system health, as well as reducing inflammation and age-related disorders. In addition, the latest growth area is in supplements related to lifestyle and self-care, to enhance things like energy and sleep. A growing aging population demographic, along with a growing active lifestyle demographic are fueling many of these innovations in the supplement market. These factors, combined with new technologies in supplement science, isolation and formulation are revolutionizing the industry.
Change is coming
It could be said that the perfect storm is coming in the supplement industry - all the elements are there for major changes and disruptions. This becomes apparent when we look more closely at both the current status and the rising trends.
- Shift from healthcare to self-care
Data shows that consumers are taking more responsibility for their health and wellbeing: 46% say they are pursuing a more nutritious diet, and 30% pursuing regular exercise and taking supplements, with 1 in 5 increasing their supplement use in the last year. The consumer potential with this broader shift from healthcare to self-care has yet to be fully realized.
- Supplement personalization and specialization
There is no one-size-fits-all approach to self-care. More and more, the supplement market is responding with products to match individual nutritional needs and lifestyles. This represents a major shift in the potential for product development and future growth.
- Demand for clean label products
Consumers are looking for transparency in ingredient details and sources. Much of the industry still lags behind in this area.
- Movement toward digital health
Supplements are just one more example of how self-care personalization can be integrated with telemedicine. A supplement program and regimen can now be easily designed and accessed through digital health applications, disrupting the current mass market approach.
- Market saturation
It is estimated there are between 70,000 and 80,000 supplement products currently in the market, with more entering every day. The sheer number of products will most likely lead to disruption through market consolidation.
- Advanced delivery systems
Supplements forms have evolved from traditional capsules and powders, to drinks and food additives, to the most recent and one of the most popular forms - gummies. The next logical step is to a format that delivers an oral form with more supplement potency, more effectively and faster. This is what oral dissolving films (ODFs) do, and their full effect on the overall industry has yet to be realized.
- Market channel fragmentation
Supplements are now represented heavily in brick-and-mortar big box stores, grocery stores, specialty stores and online. The expansion of supplement availability through these various channels is the result of the industry growing to a point that it is no longer an isolated sector. Big pharma, biotech firms and food conglomerates are investing heavily in the supplement industry. The question then becomes if they will bring the innovation in product formulation and specialization that the market is looking for, or will the approach be more of mass production. In any case, the diversity of both products and sales channels is yet another reason why the time is ripe for industry disruption and consolidation.
Leading the way
Much of what is happening in the supplement industry puts Riize and Riize supplement products at the very front of both changes currently happening and those yet to come. Riize was first successfully established as an online telemedicine and digital prescription provider, with unique and highly effective products for sexual health and weight management. Upon moving into supplements, they used the same advanced formulation expertise and technology to create some of the most effective specialized supplements available. When it comes to potential changes and disruptions in the supplement industry, Riize is leading in the following ways:
- The focus at Riize has always been on self-care, with products created to reflect that. Their supplement products are highly personalized in the sense that they are designed to fit into any individual lifestyle and schedule. And they quickly and conveniently provide specialized results - from more energy and vitality to better sleep.
- Riize supplement products are all 100% naturally sourced clean ingredients, with no sugars, additives or fillers.
- Even in a crowded market, Riize products stand out for two reasons: uniqueness and effectiveness.
- Riize is an established leader in delivery form innovation, providing the most advance format available - oral dissolving film (ODF) strips. From pharmaceutical products to supplements, the compound formulations Riize creates for each product ensures maximum delivery of ingredients, directly to the system in the shortest amount of time.
In many ways, Riize is already ahead of any disruptions that may occur in the supplement industry. With a successful background of product development and innovation in a variety of other industries, the executive leadership at Riize brings the experience and momentum needed to establish Riize strips as a new standard in specialized supplements.
"Riize takes anything but a mass market approach to supplement development. We want our supplement strips to provide specific benefits for each individual lifestyle. We are proud of the standard we have set and continue to pursue in the supplement space."
- Reilly Scheuler, CEO
SOURCES
1. https://www.supplysidesj.com/healthy-living/the-disrupted-consumer-s-path-to-wellness-health-and-nutrition-redefined-infographic
2. https://nutraceuticalbusinessreview.com/disruption-is-affecting-the-nutraceutical-sector-here-s-what-industry-players-need-to-know--202971
3. https://www.newhope.com/retailers/supplement-market-ripe-for-disruption
4. https://pmc.ncbi.nlm.nih.gov/articles/PMC10421343/
5. https://www.robinsonpharma.com/trends-in-the-dietary-supplement-industry/
6. https://www.glanbianutritionals.com/en/nutri-knowledge-center/insights/top-5-supplement-trends
7. https://www.bmj.com/content/361/bmj.k2392
8. https://pmc.ncbi.nlm.nih.gov/articles/PMC10844731/
9. https://supplementfactoryuk.com/blog/2018/05/the-history-of-vitamins/
