When it’s time to introduce a new supplement product to your brand line up, experienced sellers understand the importance of doing proper market research before making the financial investment. Many dread choosing the “wrong product” to move forward with, making this part of the qualification process key to your continued success.
When considering your next product, the first key point to remember when making your selection is that different supplements represent different potential opportunities. For example, some nutritional supplements might have limited competition, so establishing your brand presence and gaining sales momentum may be easier in the beginning, but the potential sales upside may be limited as a result. Another supplement option may be massively popular worldwide, and by making early progress depending on your product launch strategy and chosen marketplace, the progress may be gradual, but the sales upside would be higher and well worth the extra time and effort. A third product opportunity may be what is considered an “industry staple” – they have displayed tried and true market resiliency over the years, making them a less volatile and more stable type of product to choose. Though it may not serve as the centerpiece of your product lineup, it could potentially be the perfect complementary option.
Another key factor to consider is which direction the product’s popularity seems to be trending in – does your research indicate an upward or downward trend?
Doing proper research is a vital step, but it is often an overlooked part of having a private label business by many first-timers. Your brand could have a great message, ethically-sourced raw materials, and effective supplements, but without the demand, it doesn’t stand much of a chance at gaining traction. No matter how good the marketing may be, if consumers don’t see a need for it, they won’t buy it. And convincing someone they need something is a lot harder than simply already giving them what they want.
We will examine the benefits and the business behind selling ashwagandha supplements so that you’re able to make an educated decision on whether or not it is the type of supplement that will work well with your brand’s product lineup.
As we mentioned earlier, each supplement will have its market advantages and challenges, so let’s examine a few market indicators in more detail to determine what kind of opportunity ashwagandha supplements represent for you and your brand.
When examining general search activity for terms surrounding Ashwagandha, it’s key to note that over the 5 years between 2015 to 2020 it has continued to grow in popularity considerably. During that same span of time, ashwagandha has increased in search volume by as much as 80%, and its year-over-year growth rate has increased pace as of 2020, giving it a very intriguing future outlook if this growth continues to demonstrate the same resilience as it has in the past.
Since 2017, it has demonstrated the unique ability to assimilate new, seasonal traffic allowing it to reach higher, sustained plateaus of activity year-over-year.
Currently, ashwagandha is averaging around 350,000 unbranded searches in the U.S. per month during the 12-months before August 2020. Two of the top-searched, function-related terms during that time are “ashwagandha for sleep” and “ashwagandha for anxiety” which we will cover a bit later in this article under the subheading discussing why consumers buy ashwagandha.
According to a recent industry report, sales of ashwagandha (Withania somnifera) herbal supplements in the U.S. mainstream market grew a whopping 165.9% in 2018, putting total sales at $7.5 million. While ashwagandha has been a steady seller in the U.S. natural herbal supplement market, these numbers indicate that the ingredient is beginning to gain real traction with the mainstream audience. According to the report, Ashwagandha was one of only four herbal ingredients on the report’s top-40 mainstream-seller list to see sales growth over 40% in 2018. Ashwagandha also continues to hold court in the U.S. natural herbal supplements channel. Ashwagandha ranked among the top 10 selling U.S. herbal supplement ingredients, with 16.9% growth and $12.4 million in sales in 2018.
Sales of ashwagandha in the U.S. natural channel continued to grow in 2019-at 8.7% to $13.3 million in 2019.
Examining marketplaces like Amazon reveals that top ashwagandha sellers are capable of sustaining monthly sales into the tens of thousands – demonstrating the current sales potential of this lucrative adaptogen. In fact, many sellers outside of the top 15 are able to move in excess of 1000 units per month on average. Competition is high, but with the right strategic approach and some patience you can carve out considerable market share for your brand.
Adaptogens are plants that can potentially help mitigate stress. Ashwagandha is often regarded as an effective and safe adaptogen. As we alluded to earlier in our search data observations, “ashwagandha for sleep” and “ashwagandha for anxiety” are two of the top searched function-related terms associated with ashwagandha supplementation.
These two important functions are not the only reasons people have been supplementing their diets with this adaptogenic herb, though. Some studies have suggested that ashwagandha supplementation played a significant role in helping to increase testosterone levels and fertility in men, may help increase muscle mass and strength and may help mitigate particular brain function issues.
When looking to determine effectiveness, keep in mind that dietary supplements are not intended to treat, cure, or prevent any diseases. Though nutraceuticals are routinely used to support certain health benefits, they are different from pharmaceuticals. Nutraceuticals are natural and work with the body’s chemistry to produce certain desired effects over time. Pharmaceuticals, on the other hand, are synthetically created to hack your body’s chemistry for a more immediate and dramatic effect. Understanding the difference between the two is key.
Private Label Express offers a wide selection of supplement solutions for you to choose from allowing you to find the perfect product to suit your brand and set you apart from the competition.
Your purchase includes complimentary label design, printing, and application, ensuring the product is fully branded and ready to go when you receive it.
We offer many other private label supplements besides ashwagandha, Contact us today for more information.
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