Vitamin & Supplement Manufacturing in the US - Industry Market Research Report

Healthy forecast: An aging population and growing health consciousness will benefit the industry

Rising pharmaceutical drug prices, increased media coverage on health and wellness trends and a rise in research on diet-related illnesses have encouraged consumers of all ages to turn to dietary supplements. Due to increased demand for health supplements caused by the COVID-19 outbreak, industry revenue grew at a CAGR of 1.6% to $39.8 billion over the past five years. However, revenue growth will slow as demand normalizes to pre-pandemic levels. In 2023 alone, rising household income levels and sports participation rates will cause revenue to rise 1.0%, with profit reaching 6.5%.

Vitamin and supplement manufacturers primarily develop and manufacture products that are consumed by mouth and contain an ingredient intended to supplement the diet. Key groups within this industry include standard vitamin and mineral supplements, as well as sports nutrition products and herbal supplements. This industry excludes manufacturers of energy drinks, infant formula and prescription or over-the-counter (OTC) medications used to prevent or treat illnesses.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.