The Covid-19 Pandemic: A Catalyst for the Supplement Industry
In 2020, we faced one of the biggest health scares of our lifetime: The Covid-19 pandemic. With the lives of their friends and families at risk, consumers worldwide turned to the supplement market. During the pandemic, all demographics increased vitamin use by 74 to 75%, with household purchases rising to 90% overall. To put that into monetary terms, supplement sales of women, men, and children’s vitamins rose by a total of 1.09 billion.
This unprecedented growth did not pause in 2021, with the industry reaching new records at a compound annual growth rate of 14.5%. Newfound scientific backing for vitamins has increased consumer confidence in them. Research shows that vitamins may improve physiological, cognitive, and functional outcomes, as well as reduce injuries and improve performance during workouts. Additionally, they may reduce the rate of brain shrinkage.
While the future of the supplement industry is unclear, we know it will both feature new categories, companies, and ingredients. The popularity of novelty supplement irish moss has increased 650% over the last five years, numbers that are reflected in other products. The popularity of DTC supplement brands are also rising, with the revenue of company truBRAIN hitting 11.8 million. Finally, new pre workout ingredients such as beta-alanine and caffeine are now used by 87% and 86% of supplement manufacturers respectively. As the supplement industry and its nutritional complexity grows, it is more important to understand than ever.
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