The growth of the supplement industry of late has been overwhelming, producing statistics that have previously been unheard of. Over 50% of consumers worldwide take vitamins and supplements on a daily basis. In addition, across all demographics in the US, there has been an increase in usage. All ages, genders, and regions of the country have seen an uptick in usage of vitamins, herbal and botanicals, and several other types of supplements on the market today.
In 2021, the supplement market hit record growth at a compound annual growth rate (CAGR) of 14.5%. The growth of this industry can be explained by heightened global health factors and the pandemic itself. The year 2020 saw the first major increase in supplement usage, as new scientific backing for them fostered an increased confidence in their effectiveness. Vitamins have been found to have several health benefits, and many professionals in the field are now pioneering the movement towards a more widespread usage of them.
The vitamin and supplement industry is projected to reach a global value of $98.6 by 2031 as fast changes and new trends have become inevitable. New products and categories of supplements are constantly entering the scene at a staggering rate. Pre-workout supplements are no exception, as most brands have seen millions of revenue to date. Their revolutionary blends of ingredients have consumers hooked, further emphasizing the promising future of this booming industry.