A Look at the Supplements Industry

supplements industry

As the supplements industry grows faster than ever, it is important to understand the trends and scope of the market. Today, 55 to 60% percent of consumers worldwide take supplements on a daily basis, whether that be vitamins, specialty supplements, herbals, or more. In America, a substantial intake is fairly universal across demographics, with 79% of females and 74% of males participating. 

The supplement market hit record growth in 2021 with a compound annual growth of 14.5%. This can largely be attributed to global health factors such as an aging population, an at-risk global population, and increased mortality rates, as well the onslaught of the Covid-19 pandemic. With its arrival in 2020, household purchases of vitamins rose to 90%. These purchases have genuine scientific backing, as vitamins may provide a variety of health benefits to the consumer. These include improved physiological, cognitive, and functional outcomes. 

With pioneers such as Eli Faraggi, CEO and founder of focus company Innobev, the future looks bright for the supplement industry. As new supplement categories enter the scene, the industry is projected to reach a global value of $98.6 and a growth rate of 7.6%. Additionally, the pre-workout supplement sector is expanding, with new ingredients, companies, and blends taking center stage. In this new era, be sure to research which type of supplement is right for you.

The Big Business of Supplements
Source: PreWorkout.org