The form factor boom layers beauty onto health &
wellness, and it’s going to challenge VMS
operators
You wake up, drink your AG1, chew your multivitamin gummy, and
swallow your BPC-157 and TB-4 oral peptide supplements.
If you haven’t heard of the latter combination, it’s
known as the “Wolverine stack”—so-called for its
rapid healing properties (“wounds close faster, tendons knit
together” extolls one retailer)—and it is not approved
by the FDA or for human use. Regardless, it is a top seller on
e-commerce supplement sites and through social media, sought out by
self-informed consumers in the body-building world or those in
pain.
We see the spike in adoption of the Wolverine stack as a trend
for the beauty, health, and wellness industry, which is being
disrupted by medical-adjacent treatment plans. Consumers are
embedding supplementation into their lives as part of a more
holistic, results-based approach to wellbeing, beauty, and
achievement. The AlixPartners Professional VMS Survey finds
shifting loyalties among a curious population looking to optimize.
Consumers are increasingly looking to practitioners for their
initial recommendations, education, and even purchases before
switching to Amazon for continuing buys (brand websites see only
48% retention on the second buy). Vitamins, minerals, and
supplements (VMS) are on the rise both in areas where there is
sufficient research, and in new and emerging areas where product
claims overshadow quality, safety, and efficacy.
The U.S. VMS market topped $125 billion in 2025, per
Euromonitor. Active nutrition is projected to grow 11% through
2027.From changing diets to the rise of longevity
programs/products, and a deterioration in access to healthcare, a
host of conditions have combined to attack the old paradigm.
Legacy beauty and upstart producers alike will have to adapt to
the new use-case. Manufacturers and retailers will want to
capitalize on the VMS gold rush but need to adhere to the quality
and safety standards that helped overcome the previous industry
reputation of someone mixing ingredients in their garage.
Regulators may have an appetite to loosen restrictions on peptides,
which would open the door to greater adoption and growth.
More, more, and more: Why the VMS industry is changing
From the availability of consumer-level healthtech to a more
informed consumer and a blurring of the beauty/health/wellness
categories, there are a few major trends driving change in this
space.
The rise of continuous monitoring and growth of
self-directed healthcare: From Apple Watches, Whoop, and
the Oura ring to consumer-level glucose monitors from companies
like Abbott and Dexcom, healthtech has grown with the consumer desire
to be informed about their health at all times.
The growing reliance on data to make health decisions, or
self-diagnose conditions, has occurred as healthcare services have
become more expensive and harder to access—average wait times
to see a general practitioner in the U.S. are up ~20% in some cases in urban metro areas to
30 or more days, per AMN Healthcare—and have been passed over
for alternative voices. Accordingly, we’ve seen a rise in
self-treatment or doctor-directed treatment with VMS. This
isn’t limited to men or women. Both appear to have an appetite
to spend in the VMS category, although they may be targeted
differently.
Beauty and nutrition have become inextricably
linked: We keep hearing “beauty from the inside
out,” in reference to dietary impact on physical appearance
and health. VMS has capitalized on this, with companies like
Nutrafol offering capsules to treat hair loss treatment for men and
women, Thorne offering diagnostic testing complemented with
matching supplements for internal and external needs, and people
drinking lemon water and olive oil to “tighten up” and to
maintain their youthful glow.
“Beauty from the outside-in” is also fully in play as
cosmetic companies incorporate traditionally ingestible
supplements. AlixPartners research found that 85% of consumers buying holistic beauty products
want detailed ingredient information. How many skincare
routines include peptides, collagen, vitamin C, or a nutrient
additive? Go to your local Sephora or browse the shampoo aisle at
the grocery store. The secret additive that drives your desired
outcome is in everything.
Private label is showing strength as consumers seek out
specific ingredients: As with beauty, marketing and sales
are the growth drivers in VMS. Where R&D lies and how much
spend should be allocated is more company dependent, but consumers
are always looking for a next-level product, and private label
products have more share than the largest branded products. No
company has more than a 5% share. Once booming brands that are in
decline or stagnating continue to show up in the beauty space and
private label is playing a greater role in retailers’
assortment. As small players in beauty and wellness look for
manufacturing partners, the opportunity for private label remains
huge.
Despite the appearance of endless products and brands, as the
VMS market grows, private label is responsible for a large portion
of the footprint, though it is very fragmented.
The all-in-one experience: Med spas, gyms,
wellness centers and retreats have exploded in growth. Walking around cities, it
seems like there is a consumer treatment center on every corner.
Although many specialize, there are some that look to become a
one-stop shop, from doing blood tests and writing prescriptions to
tailoring your diet and providing physical manipulation.
The retail footprint is massive. Direct-to-consumer and Amazon
are the preferred method of purchase for recurring vitamin and
supplement purchases. However, the retail footprint is massive.
Going to a location—whether a doctor or a different provider
for initial learnings—has a lot of power. Generationally,
this is huge with Gen Z, more likely to bond and socialize with
wellness activities in a sauna for R&R than spend a night out
drinking. In retail, it looks to be only a matter of time before we
see VMS products in beauty retailers and beauty products in VMS
retailers. Ulta has already started with products like Mary
Ruth.
Discovery comes from providers and e-commerce
So, how can VMS manufacturers and retailers reach this
burgeoning market?
All channels are showing growth, but practitioner-related
referrals and e-commerce lead the way. As we’ve discussed,
growth in this space is driven by a desire for information about
personal health that can be put in action to fuel
self-improvement—the AlixPartners Consumer Sentiment Index
found that med spas/salons and doctors’ officers now rank #4
and #5 for specialty beauty destinations. Thus, providers’
recommendations or one of the many strains of influence (yes, even Reddit) are what convert consumers into
users of a product.
Even among consumers who receive a recommendation for a specific
VMS regimen from a healthcare provider, 92% still conduct
additional research, per AlixPartners’ professional VMS survey,
and women are twice as likely as men to continue to investigate
benefits and uses.
Once consumers have tried a product, 9% of those referred by a
provider switch to Amazon, and around 20% of those who originally
purchased via a DTC channel look to buy it from the e-commerce
giant, according to VMS survey data. There could be many drivers of
this behavior, whether it be cost, convenience, or an indication
that few brands offer the full suite of VMS products that comprise
consumers’ tailored regimens.
Higher-priced brands are leading the way for branded
products
To win, companies need to have the right marketing, the right
channels, the right products, and a differentiator. Across the
value chain, luxury is outperforming mass and value, due in part,
we believe, to the associations with biotech innovation,
associations with scientific advancement, and elite fan bases.
The opportunity is huge, but the product has to work
Even among consumers who are purchasing VMS products after a
recommendation from a healthcare provider, product quality and
brand reputation are the most frequently important purchase
factors. Pricing (per dose, not just per bottle) is also an
important factor for nearly a third of consumers.
As the VMS boom plays out, consumers will have a growing
opportunity to test and switch products. The winners will be the
companies selling science-backed products that provide results and
win trust.
The consumer looking for the right “stack” won’t
take their physician or trainer at their word—they will weigh
the effect of the product against pricing and brand identity.
Companies looking to outperform the competition need to:
Be deliberate and intentional in building brand, consumer,
customer and product strategies, knowing the consumer piece is
driven increasingly by practitioners and influencers.
Drive customer and consumer education, leveraging
science-backed research and maximizing value of certifications and
quality.
Optimize portfolio and make sure investments are aligned with
trends and growing brands, products, and regions.
Build efficient and quality focused operations that enable
speed to market and agility, bring operations into the 21st
Century, and balance cost with operational effectiveness.
Optimize footprint and supply chain, especially with tariff
risks and impacts and the increasing power of private
label/co-manufacturers.
Like the products their consumers are taking, companies need a
serious stack of operations improvement to capitalize on the rich
potential in front of them.
AlixPartners Professional VMS Survey conducted July
2025.
Contributors: Raj Konanahalli, Michael Bronstein, Abby Sattler,
Wyatt Puscas
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
