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.
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