The global dietary supplements market is expected to reach $210.3 billion by the year 2026, with a compound annual growth rate of 8.4%, and is expected to hit $317.04 billion by 2030.
Best of all, supplement businesses have low overhead, require no new employees, and have a business model that is based on monthly subscriptions, which offer high residual recurring revenue, creating long lasting value and predictable income.
Built-in credibility, safety and efficacy
Physician created brands can demand premium prices
Increased differentiation with a physician-backed supplement line
Steady growth of interest in non-pharma alternatives
Ability to leverage science and clinical studies
FDA allows health practitioners to make broader supplement claims
Greater latitude and freedom to leverage clinical data
Competitor analysis is a critical step to determine sales volumes, what is selling, and what mistakes to avoid. Quaintise uses proprietary software to determine Google search volume and Amazon sales results for products addressing your areas of specialty. The following questions need to be answered:
There is a lot that goes into creating your own unique supplement brand line. Having a strong brand name is crucial. Labeling and packaging can influence 70+ % of purchasing decisions. And typically, branded ingredients have a premium cost but can also include strong clinical studies that support their efficacy.
A lot of thought must go into formulation and the manufacturing process of your physician-backed supplements. Your supplement line needs to have the proper planning and formulation process. You also want a strong contract manufacturing partner who will support you and ensure that there is a high level of quality control testing. You also want to ensure your supplements are manufactured in a cGMP compliant facility, located in the USA.
I have had the pleasure of working with Quaintise in developing a premium line of supplv ements from scratch. These brilliant marketing experts have done everything from creating the HPD Rx brand, package design, formula concepting, organize our contract manufacturing, develop our Amazon store and listings, built our website and manage all of our advertising. In less than 2 years, we now have thousands of happy customers and profitable revenues exceeding $1 million. I could have not done this without Quaintise’s talented team – they are the very best.
Quaintise is an invaluable partner to our business. Their creativity and expertise helped us move our brand forward in our highly competitive supplement industry. Their standards of excellence and commitment go beyond exceptional. The rebrand process was thorough, and hit all the high marks needed, they are a pleasure to work with. We highly recommend them.
Quaintise has the expertise in creating a Physician-Backed Supplement Line. It will require an initial investment of at least $150,000 over a year-long term, depending on how many products you are going to market with.