Prospects for the US supplements sector as it emerges from the pandemic “look damn good” say the authors of a major new category report.
The latest edition of the annual Supplement Business Report, researched and compiled by specialists at Nutrition Business Journal (NBJ), shows that the US supplement market grew 7.5% in 2021 to be worth $59.91 billion. This was up on the predicted growth rate and is seen as evidence of continuing strong levels of consumer interest in VMS products, following the record growth of 14.5% in 2020.
The NBJ report says that the effects of Covid in 2020 and 2021 were experienced differently in individual categories and channels. Some growth curves have since normalised, others are normalising and some appear to have been much less impacted by the pandemic.
The report notes that supplement sales in 2021 were a “staggering 23.1% larger than we saw in 2019”. Setting aside the “historic growth of 2020”, 2021 remains a stand-out year for “the most dollars added to the market in a single year”, it adds.
The report’s authors say predicting the new normal for future market growth is challenging, and they expect to see some of kind of “correction” in 2022. However, they add that the prospects for the supplements sector “look damn good” and anticipate an “industry pushing $70 billion in 2025…with lots of room for winners”.
For more information about the 2022 NBJ Supplements Business Report click here.