The supplement market is booming, with a record CAGR (14.5%) set in 2021. There are a lot of global health trends that have influenced the growth of this industry. Populations are aging- 1 in 6 people will be over the age of 2030. There has also been an increase in global mortality rates and death by illness, so it is imperative that people improve their health through the help of supplements. The COVID-19 pandemic has made consumers even more conscious of their health. Purchasing trends reflected this sentiment, as household purchase of supplements rose to 90% during 2020.
There are many types of supplements that focus on different aspects of health maintenance, such as specialty, sports nutrition, and weight management supplements. Vitamins are also a very important supplement that can help improve psychological, cognitive, and functional outcomes. They are able to reduce injuries, improve performance during workouts, and slow the rate of brain shrinkage. As supplements become more popular, there will be some major improvements and changes to the industry. For example, there has been the rising popularity of new supplements such as sleep gummies, Irish moss, and mushroom coffee. This dynamic industry is one to watch in the future.