Vitamin and Supplement Industry Statistics 2024 | Surprising Facts & Data
After having looked at the consumer side of supplements, nutrition, and dieting, we’ll spend this article looking at some numbers from the market and industry side of things. Many of these data are forecasted, but some are retrospective. This article is purely informational, and not prescriptive for any investment purposes.
For information regarding individual supplement use, please see our stats on Dietary Supplements.
General Overview
The broad strokes of the global market project not only tremendous revenue, but compounding growth for vitamins and supplements overall.
- Global Supplement market was $151.9 Billion in 2021.
Another source has the US Market at $45.3 Billion in the same year.
According to the National Center for Complementary and Integrative Health, Americans spend $30 Billion out of pocket on “complementary approaches.” [1]
US Markets for dietary supplements could grow to $56.7 Billion by 2024. [2]
$39.8 Billion of those sales are forecast to be Vitamins. [3]
- The growth rate is expected to grow at 8.9% for the next decade.
- Growth is expected to compound – This calculates to $355 Billion for the whole market by 2030
- Vitamins account for 30.8% of that total market.
- Botanical (Herbal) supplements are the second largest segment, and expected to grow by 9.2% compounded.
- Americans spend almost $13 Billion on “natural products”, out of pocket, about a quarter of what they spend on prescription drugs.
- The largest growth is expected in the protein supplement market with projections as high as 13.4% compounded annually.
- Tablets (pills) are the largest type of supplement delivery, at 33.6% of the revenue of the whole market.
- However, in the Sports Nutrition market, powder supplement account for 40% of sales.
- Liquid supplements have the highest forecasted growth rate, at 12.1%.
- Weight Loss/Management is the number one reason for supplement use, accounting for 30.6% of total sales.
- Perhaps because of COVID, the largest area of growth is expected in immunity support, at 8.8%.
- Despite the growing use of internet sales, brick and mortar sales still had 81% of all supplement sales.
- 33.9% of offline sales were in supermarkets and big-box stores.
- Sports Nutrition supplements continue to be sold at a 75% rate in brick-and-mortar stores.
- North America is still the largest continental market, at 34.8% of world sales.
- North America is also still expected to grow by 5.6% [5]
Demographics
While most of our data is focused on the aggregate market, some key insights can be deduced from individual and demographic data.
- Millennials spent over $63 per purchase on vitamins and supplements.
- The average for the whole market is $130 per purchase. [6]
- Total, about 59 Million Americans spend money on supplements, herbs, and vitamins.
- Around 4.1 million of those sales represent children consumers.
- These numbers average out to $510 annually per person.
- Higher income brackets spend more, but a lower percentage of their income;
- Family Income < $25,000 → $435 spent.
- Income > $100,00 → %590 spent.
The following data were collated via survey, as opposed to sales or market research. They can offer contrast and conflation with previous data. For more information on attitudes and uses of individuals, please see our separate fact sheet on supplements.
- 57.6% of adults say they’ve used a supplement this month,;
- 63.8% of women, 50.8% of men.
- Persons over 60 had the highest response rate of supplement use (80.2%).
- The most common supplements used were:
- Multivitamin/Minerals
- Vitamin D
- Omega-3s
Sports Nutrition
With the majority of sales in the Vitamin and Supplement market geared toward “weight loss,” it may serve to contour findings and insights with a more focused subset of data.
- Sports Nutrition Sales hit $42.9 Billion globally.
- The compounded growth rate for this market is 7.4%. [7]
- If those numbers hole, the Sports Nutrition total market will be valued at $87.6 Billion in ten years.
- Of these $42.9 Billion in 2022, 42.3% are supplement sales ($18.15 Billion).
- People identifying as “fitness enthusiasts” had 40% of sports nutrition sales.
- 43.8% of people going to the gym use supplements.
- 35% of all supplements are consumed post-workout.
- Once Again, North America has the largest share of a supplement market; 45% of sports nutrition sales went to the US, Canada, and Mexico.
References
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Sam is a passionate health and fitness enthusiast who has been interested in supplements, fitness, and wellness for over 10 years. He is the founder of Great Green Wall - the health and wellness brand and has completed multiple fitness certificates, including personal training and nutrition certifications. Sam has been working as a personal trainer for the past three years and is dedicated to helping his clients achieve their fitness goals and lead healthier lifestyles. He believes that a healthy lifestyle is crucial to a happy and fulfilling life and is committed to sharing his knowledge and passion with others.
Sam,
What is the RDA for most vitamins and minerals in all the major brands?
Hi D,
Thanks for reaching out! The Recommended Dietary Allowances (RDAs) for vitamins and minerals can vary depending on age, sex, and life stage (like pregnancy). These aren’t specific to brands but are general guidelines set by health organizations.
For example, for adults, the RDA for vitamin D is typically around 600-800 IU/day, while for vitamin C it’s around 75-90 mg/day.
As for different brands, they can formulate their products to provide different amounts of these nutrients. Some might aim to provide 100% of the RDA for many vitamins and minerals, while others might provide more or less.
I think it is always a good idea to read the label of any supplement to see how much of each nutrient it has, and to talk with a healthcare provider if you’re unsure about what you need.
I hope that helps,
Sam