The weight loss industry has been alive and well since the release of the first diet book in 1558 – but it has certainly come a long way since its limitations on the amount of food to eat and the glasses of wine to drink [1].
Today, diets aren’t just about restricting food intake or cutting out certain food groups. Things like juice cleanses and medical supplements are becoming so popular that there are still new opportunities for physicians and clinic owners to venture into private label weight loss products. Also known as white label health supplements, these supplements offer some competitive advantages.
The Thriving Market for Private Label Weight Loss Products
In the 2022 Weight Loss Supplements Global Market Report, the global weight loss supplements market is said to be expected to grow to $55.41 billion in 2026 at a compound annual growth rate of 12.83% [2]. With a growing obese population that is contributing to global mortality and morbidity, there is a growing need for weight loss products [3]. Clinics can leverage the many manufacturers to create their own private label supplement brands.
4 Benefits of a Private Label Weight Loss Supplement Business
While there are many benefits of starting a private label weight loss supplement business, here are the main advantages of doing so.
Enhanced brand recognition
Experts in the marketing and advertising industry have consistently demonstrated that custom-branded products contribute to better brand recognition [4]. Healthcare providers can introduce their own private label weight loss products through visual cues such as custom colors and packaging to elevate their reputation. They not only get to expand their clinic’s product portfolio but can enhance patients’ loyalty when they find reliability in such a competitive market.
Highly potential profit margins
Beyond brand recognition, these private label products also offer attractive profit markups for clinics and physicians. Manufacturers often provide these products at wholesale prices, which means that the private label can dictate their own retail prices. With this level of price control, there is a lot of potential for higher profit margins, as well as the chance to compete on price with larger retail chains.
Quality control and regulatory compliance
Clinics working with reputed and trusted private label supplement manufacturers can take charge of the quality control process for their own branded supplements. These manufacturers follow set guidelines from the Food and Drug Administration (FDA) to ensure that each product meets strict safety, efficacy, and security standards [5].
Manufacturing your own private label supplements also means you have full control over formulas and ingredients. By infusing a product range with high-quality ingredients that cater to your patients’ specific needs, you can offer a highly personalized and customized set of supplements. This might include things like meal replacements, vitamin supplements, and post-bariatric surgery formulas that could be useful to patients.
Embrace innovation
White label health supplements go beyond traditional pills and powders. With innovations in supplement delivery methods, clinics can opt for chewable tablets or drinkable shots to stand out from the competition. Exploring creative, problem-solving options that center around the patient can encourage wider acceptance and usage [6].
Conclusion
There’s no question that starting a private label weight loss supplement business as a healthcare provider presents a fantastic opportunity for financial growth and enhancing a professional reputation. Capitalizing on the thriving market and strict quality controls of the FDA while embracing innovation can allow physicians to reap many benefits, so long as the demand for weight loss solutions continues to surge.
