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A Look at the Vitamin and Supplement Industry

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Vitamin and Supplement

Supplement usage is a concept that has become increasingly more common in recent years. Of consumers worldwide, 55% to 60% take vitamins and supplements on a daily basis. This overwhelming growth of the supplement industry can be seen around the world, but in the US especially it has skyrocketed. In fact, every demographic has seen a sizable increase. All ages, all genders, and all regions of the country are joining the wave of this newest health craze.

Supplements of all kinds are entering the spotlight. In the past year, American adults have consumed vitamins, specialty supplements, herbals and botanicals, and many others in high volume. The entire market hit record growth in 2021 at a CAGR of 14.5%. These numbers are only projected to rise as the pandemic and other global health factors continue to impact people worldwide. Aging populations with a high percentage of at-risk people are major contributors to supplement usage. In addition, mortality rates are increasing, as the world death rate has increased for four years in a row. As expected, COVID-19 also caused a rise in supplement sales. In 2020, household purchases of vitamins rose to 90%. In addition, all demographics increase vitamin use by 74% to 75%.

New scientific backing for vitamins has fostered an increased confidence in their effectiveness. Studies show that vitamins can improve physiological, cognitive, and functional outcomes. Also, they can reduce injuries and improve general performance during workouts. Vitamins and supplements can even slow the rate of brain shrinkage. 

This development of commercial supplements has been pioneered by field experts. Trustworthy figures like Dr. Banafsheh Bayati, Karen Howard, and Dr. Uma Naidoo are only a few of the people who are shaping the supplement industry. These industry leaders have dedicated their professional lives to studying the safety and impacts of these supplements on the general public while pushing this movement forward. It is because of their work that the vitamin and supplement industry is projected to reach a global value of $98.6 by 2031. With a growth rate of 7.6%, fast changes and new trends are inevitable.

The anticipated future of the supplement industry is promising. New categories of products are constantly entering the scene. In fact, sleep gummies on the market are up 1,483% over the past five years. Irish moss is up 650%, and mushroom coffee up 203% over the same time period. In addition, DTC supplement brands are also rising. Truvani is comfortable with $4.4 million in revenue, Trubrain with $11.8 million, and Your Super a shocking $70 million in revenue.

Pre-workout is just another sector of the supplement industry that will continue to grow in popularity. New and effective ingredients are taking center stage, raking in curious and loyal consumers. Ingredients like beta-alanine for muscle fatigue, caffeine for energy, and citrulline for muscle building are at the top of the list. 

The vitamin industry will only continue to grow and its nutritional complexity will only deepen. It is imperative to know the industry inside and out, for one’s personal health and the safety of those that they influence.

Based in LA, Alice Blake is a senior reporter for Kivo Daily. She primarily covers entrepreneurs.

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