Thinking About Selling Astaxanthin Supplements?
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.
A Couple Of Factors To Consider
When considering your next product, the first key point to remember is that different supplements represent different potential opportunities.
For example, some nutritional supplements might have limited competition. 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.
On the other hand, another supplement option may be massively popular worldwide, and the progress may be gradual, but the sales upside would be higher. Depending on your product launch strategy and chosen marketplace, these supplement options may be 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 overlooked by first-time private label business owners. 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 a consumer that they need a product is a lot harder than simply already giving them what they already want.
Next, let’s examine the benefits and the business behind selling astaxanthin supplements so that you’re able to make an educated decision on whether they will work well with your brand’s product lineup.
A Closer Look At Astaxanthin Market Indicators…
Each supplement offers unique market challenges and advantages. For this reason, it is essential to invest some time in researching vital market indicators in detail. This will allow you to determine the potential opportunity that astaxanthin supplements could offer your brand and yourself!
Search Engine Popularity
In a 12-month time frame ending in September of 2020, terms relating to astaxanthin received an average of 83,000+ monthly searches in the U.S. on Google alone. However, between May 24th, 2020, and June 7th, 2020, there was a significant, 100% spike that could be observed.
This spike in popularity is likely directly connected to the supplement’s skin-protection and tanning properties. This can be deduced from the 1,150% search increase for the related phrase “astaxanthin tan” during the astaxanthin spikes which accounted for over 22,000 impressions. We will elaborate on this correlation later in the article. Additionally, the sudden rise in the supplement’s search popularity may also be due to the simultaneous publication by Yahoo Finance News about the anticipated expansion of the global astaxanthin market due to the FDA’s decision to approve its use in several feed products and as a coloring agent in various foods.
Prior to the May 2020 spike, search engine statistics had remained stable since October 2015, and then returned to “normal” levels of popularity in July 2020.
When looking at the popularity of search terms relating to astaxanthin, “how much astaxanthin per day,” and “astaxanthin supplements” were among the most popular related search terms. The latter term experienced a 100% increase in popularity in the last 12-month period ending in September 2020. This finding suggests that more people are investigating the supplement for personal consumption. Consistent search volume and market stability over time are both encouraging indicators when looking to offer an astaxanthin supplement in today’s market.
Sales data pertaining to astaxanthin suggests a stable opportunity for those looking to meet the demands of this popular supplement. According to market research, the global market size for astaxanthin supplements in 2020 is around $94 million. The data also predicts that the worldwide market will be worth as much as $134.7 million by 2026. With those numbers in consideration, it would place the projected Compound Annual Growth Rate for the astaxanthin market at 5.2% between 2021-2026.
Additionally, statistics from e-commerce marketplaces such as Amazon indicate a stable global market for astaxanthin supplements. This is due to the lower number of reviews held by the top brands, which provides a reasonable angle of entry for those looking to become established within the astaxanthin market.
Why Do Consumers Buy Astaxanthin?
Astaxanthin is found naturally in trout and shrimp, among other sea creatures, as well as yeast. Anstaxanthin is classified as a carotenoid pigment.
According to a study by the MDPI Journal of Nutrients, astaxanthin has been found to potentially act as an internal sunscreen providing significant protection against harmful UV rays. The same study also goes on to describe that with prolonged use, the supplement also offers the additional potential side effect of slight pigmentation coloration similar to tanned skin.
Furthermore, several research studies have also cited the potent antioxidant properties of this substance. One such study concluded that astaxanthin displayed some of the most concentrated and highest antioxidant activity levels when put up against free radicals. Another study about its antioxidant properties also suggests that combining oral and topical doses of astaxanthin could help reduce the size and appearance of age spots, smooth wrinkles, and help restore skin moisture. There is also significant science suggesting that astaxanthin can contribute to better overall heart health and support male fertility.
Nutraceutical vs. Pharmaceutical
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.
Key Factors Affecting Astaxanthin Potency
When vetting astaxanthin supplements, the potency of the supplement is key to consumers. One study regarding astaxanthin concluded that the bioavailability of astaxanthin could be increased with the addition of fatty substances. This finding suggests that eating fatty foods when consuming the supplement could lead to higher potency. Astaxanthin supplements that contain lipid-based formulations may also offer a higher bioavailability rate thus a higher potency level.
Which Astaxanthin Supplement Is Right For You?
Private Label Express offers a wide selection of stock astaxanthin 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 all printing and packaging in your name, ensuring the product is fully branded and ready to go when you receive it. We offer many other private label supplements besides astaxanthin, contact us and we can tell you more.