The U.S. Vitamin & Supplement Manufacturing industry is worth $35.6 billion.
Overall, the U.S. supplement industry is the second largest in the world, projected to generate a revenue of $4.06 billion in 2023.
Further, at least 77% of Americans now take at least one supplement, making them popular among all age groups and demographics.
Yes, the U.S. supplements industry is growing.
From 1975 to 2015, American supplement use increased by 25%, until over half the population used supplements by 2014. Further, this trend is expected to continue going forward. For example:
The U.S. dietary supplement market is expected to grow by 78.9% in less than ten years, to $56.7 billion by 2024.
The global Supplement industry is expected to have a CAGR of 6.9% between 2021 and 2026.
The global beauty supplement market has one of the highest CAGRs in the industry, at a projected 9.5% through 2026.
And those are just a few examples, as it’s clear almost every type of supplement has a rapidly growing market.
The average American spends $96.50 per trip on vitamins and supplements.
Of course, the amount spent on supplements also varies considerably by age. Older Americans unequivocally spend more on supplements than younger Americans.
Those from the Greatest Generation (the oldest living generation) spend the most on supplements, at $129.58 per purchase. Then, continuing in the order of age: Baby Boomers spend an average of $111.59, followed by Gen X ($82.06) and Millennials ($62.73).
Yes and no.
Most dietary supplements are regulated by the FDA and FTC under the Dietary Supplement Health and Education Act of 1994 (DSHEA). This means consumers must have access to information about ingredients, warning letters, recalls, and other important information.
However, 74% of Americans are concerned that supplements are not backed by trustworthy research. In part, this may be connected to the fact that nutritional supplements and other types of supplements aren’t actually regulated by the FDA and, therefore, aren’t always as trustworthy.
There are around 450 major supplement companies across the U.S.
Some of the largest include Nature Made, Kirkland Signature, Klean Athlete, Life Extension, and Amazon Elements. Overall, supplements from these popular companies and others are sold across 15,070 health supplement stores in the United States.
There are over 29,000 different dietary supplements available to U.S. consumers.
And if that isn’t enough, there are also approximately 1,000 new supplements added to the market every single year. That’s also especially impressive, given that there are less than 500 companies that make these supplements in the U.S.
What are the top 3 supplements sold?
The top 3 supplements sold in the US are multivitamins, vitamin D, and omega-3s.These three are especially associated with health benefits, with multivitamins being used for general health, vitamin D for mood support and bone health, and omega-3s for heart and brain health.
With a market worth $35.6 billion in the U.S. and $165.71 billion globally, Supplements have been growing in popularity for decades. As of 2022, at least 77% of Americans take at least one supplement, with older demographics having even higher percentages. On the whole, Americans spend $30.2 billion on supplements every single year.
Overall, the U.S. supplements industry is expected to continue its impressive growth. With a CAGR of up to 8%, the market is expected to grow by 78.9% in less than ten years, to $56.7 billion by 2024.