Biotech
Wednesday, June 12th, 2024 2:47 pm EDT
Key Points
- The weight loss boom is leading consumers to spend more on protein supplement products, as highlighted by The Vitamin Shoppe’s 2024 Health & Wellness Trend Report, an annual study of 2,000 Americans.
- The increased use of weight loss treatments like GLP-1 drugs has prompted consumers to seek ways to replace essential nutrients like protein, addressing concerns about muscle loss and other side effects associated with these medications.
- The Vitamin Shoppe has observed a significant rise in sales of protein supplements, meal replacement products, and unflavored protein powder, indicating a growing demand for nutritional support. Additionally, the company has launched a telehealth service offering access to branded weight loss drugs, reflecting a shift towards comprehensive weight management strategies integrating medication, nutrition, and physical activity.
The Vitamin Shoppe’s 2024 Health & Wellness Trend Report reveals a growing consumer interest in protein supplements, driven by the weight loss boom and the use of GLP-1 medications. This annual study, surveying 2,000 Americans, highlights key trends in the nutritional supplements industry, showing that as more people use weight loss treatments like GLP-1 drugs, they seek ways to replenish essential nutrients like protein, which can be depleted by these medications and associated muscle loss.
CEO Lee Wright notes this period as a “time of meaningful evolution” with innovations such as GLP-1 medications increasing focus on healthy nutrition. Social media also amplifies interest in various health and wellness products. Wright mentioned on CNBC’s “Squawk on the Street” that the surge in weight loss products is beneficial after a decline in vitamin and supplement spending post-pandemic.
The Vitamin Shoppe has shifted its focus towards protein supplements, multivitamins, fiber, and probiotics through its “GLP-1 Nutritional Support” program. In 2023, sales of ready-to-drink protein beverages rose by 10% compared to the previous year. Additionally, in the first four months of 2024, sales of meal replacement products and unflavored protein powder increased by 13% and 12%, respectively.
Wright emphasizes the importance of a holistic approach to weight loss, ensuring consumers not only lose weight but also maintain muscle mass through adequate protein intake and exercise. The customer base for weight loss products is expected to triple as more Americans seek to lose weight.
In early May, The Vitamin Shoppe launched a telehealth service, “Whole Health Rx,” offering access to branded and compounded GLP-1 weight loss drugs. The service recently expanded to include additional weight loss options like Zepbound and Wegovy, along with diabetes treatments Ozempic, Mounjaro, and Rybelsus.
For the first time, GLP-1s were featured in the company’s trend report. The survey found that 52% of respondents would consider increasing exercise and activity to manage or lose weight, 26% would prioritize diet programs, and 17% would seriously consider using GLP-1 medications. This data underscores a shift towards comprehensive weight management strategies combining medication, nutrition, and physical activity.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/06/11/glp-1-weight-loss-boom-spurs-protein-sales-vitamin-shoppe-says.html
