The supplement industry continues to grow at a rapid pace. In fact, over half of the human population now takes vitamins and supplements every day. The current trends in the supplement market are overwhelming across all demographics in the US. All ages, genders, and regions of the country have bought into this new health craze. In addition, there is no descrimination between supplement types. In the past twelve months, American adults have consumed vitamins, speciality supplements, herbals and botanicals, sports nutrition supplements, and weight management supplements at a significantly high level.
The supplement industry hit record growth in 2021 with a compound annual growth rate (CAGR) of 14.5%. The crazy part? These numbers are only projected to rise. The reasoning behind this boom in growth for the supplement business is multifaceted. First, global health factors like aging populations, an at-risk population, and increased mortality rates have had an impact. Studies show that 1 in 6 people will be over 60 years old by 2030, and the world death rate has increased for four years in a row. In just 23 years, worldwide deaths due to illness rose 10%. It is for these reasons, in combination with the pandemic that so many people are turning to these products. In 2020, supplement sales saw anywhere between a 19% and 33% increase in all age and gender categories. In this same year, household purchases of vitamins rose to a shocking 90%.
There has been recent scientific backing by experts for vitamins that has fostered this increased confidence in their effectiveness. Pioneering field scientists have found that vitamins may improve physiological, cognitive, and functional outcomes. They also may reduce injuries and improve performance during workouts, as well as greatly improve brain health and well-being. This development of commercial supplements has moved to the forefront of experts’ focus in recent years. Scientists and leaders like Dr. Banafsheh Bayati of Perelel and Dr. Uma Naidoo of Harvard Medical School are shaping the industry alongside their revered colleagues.
It is because of their work and their faith in these products that the supplement industry is projected to reach a global value of $98.6 by 2031. This would predict a growth rate of 7.6%, signaling fast changes and a slew of upcoming trends. The anticipated future of the vitamin industry involves a continued consistent introduction of new products and supplement categories. For example, sleep gummies have seen a 1483% increase over the past five years. Irish moss has seen a 650% increase in that time period, and mushroom coffee a 203% increase.
DTC supplement brands specifically are also on the rise. Companies like Truvani, TruBrain, and Your Super have seen millions in revenue since their conception. Pre-workout brands like these and several other competitors will also continue to grow as new ingredients take center stage. Beta-alanine and caffeine are the leading most popular ingredients as they help with muscle fatigue and elevate energy while exercising. However, citrulline, tyrosine, taurine, and creatine are other massively popular and sought-after ingredients that many consumers are interested in. These substances can improve muscle building, encourage positive hormone release, and improve overall performance.
As new companies continue to emerge, new blends and ingredients are appealing to consumers everywhere. The market is ever-expanding, and the products that people are obsessing over are only becoming more complex with time. It is important to know, inside and out, what one is putting in their body to ensure safety and well-being when delving into the world of supplements. In a post pandemic world, at a time when global health is the top priority, an industry of this type has maximum potential to change so many lives.