Women's health, sustainability, promotions top SPINS CPG trends list for 2024
Women’s health and nutrition sees more innovation, product launches
In 2024, SPINS expects that the women’s health category will grow as more sophisticated products come to market, DTC brands will continue to push into retail, more sports nutrition products will be release, and more women founders will get into the space.
Historically, the women's health space faced headwinds from women being underrepresented in clinical research, and women's health clinical trials being underfunded compared to men's health studies, SPINS said. The Initiative on Women’s Health Research, led by First Lady Jill Biden, is a recent effort that is addressing these disparities, SPINS noted.
Women's sports nutrition products are also currently underrepresented in the market and primarily focus on weight loss and fat burn claims, and in 2024, products will be created with functional ingredients to address specific needs, SPINS said.
Overall, 3% of sports nutrition products are dedicated to women, compared to 88% for men, and the health focus of these products consists of 64.3% for weight loss, 21.4% for energy, and 14.3% for other, according to SPINS data for the 52 weeks, ending Nov. 4, 2023.
Consumer see sustainability as optional, as certified Upcycled grows
Despite the real-world impacts of climate crisis becoming more apparent, consumers often still see sustainability as "optional," as they cite taste, price, healthfulness, and convenience above environmental sustainability, SPINS noted. When asked about whether climate friendliness impacts their purchase choices, 35% of shoppers said yes, 43% said no, and 22% were unsure, according to IFIC data shared in the SPINS report.
Sustainable products have seen a 3% decline in units, according to MULO data for the 52 weeks, ending Nov. 5, 2023. Certified Fair Trade USA saw $49m in sales and a 26% decline in units, Certified Plant Based Foods Association saw $792m in sales and a 12% decline in units, and Certified B Corp dropped 6% with $12bn in sales for the same period.
However, animal-specific claims and farming-focused claims saw growth. Certified Greener World - Animal Welfare achieved $13m in sales with a 13% increase in units, Certified Regenerative Organic saw $39m in sales and a 39% increase in units, and Labeled Pasture Raise achieved $1bn in sales and 11% in unit growth, for the 52 weeks, ending Nov. 5, 2023.
Upcycling continues to see growth as well and snacks that were certified Upcycled saw 146.5% increase in sales and a 133.1% increase in units, according to SPINS data for the 52 weeks, ending Nov. 5, 2023.
2024 becomes all about the promotions
When it comes to the retail landscape, "2024 will be about promotions" and lower prices, as inflationary pressure continue to moderate throughout the year, SPINS said. CPG brands and retailers are going to focus on a variety of pricing strategies, including temporary price reductions, while using promotional activates like displays and store features to promote their products alongside these price cuts.
Recently, promotions picked up around the holiday season and 34.6% of dollars were sold on promotion during the last four weeks, compared to 33.2% for the last 12 weeks, and 31.4% for full the 52 weeks, ending Dec. 3, 2023
