Growth in the global market in 2021 remained healthy at 6.7%, up from the 5.9% projected last year. Growth is estimated to drop to 4.3% this year amidst turbulent economic times, but this slowing is more a normalization following the record 11% seen during the COVID-19 related boom of 2020. Keep in mind that the global market is now nearly $50 billion larger than it was just five years ago.
The U.S. supplement market has always been the largest in the industry, consistently making up about one-third of global sales over the last decade. In 2019, the trajectory of sales in all of Asia was projected to surpass the U.S., but after the pandemic-driven growth record in the U.S. in 2020, that momentum shifted. The global industry ended 2021 with the U.S. at 35.5% market share and the combined Asian countries at 32.3%.
By 2025, NBJ estimates, global sales will reach nearly $200 billion, double the size it was in 2012. NBJ’s annual Global Supplement Business Report breaks down the impact of the global pandemic and the current economic landscape on this industry across 22 countries and regions, both emerging and established with nuanced markets.
For more data and insights on the global supplement market, check out NBJ’s Global Supplement Business Report, available here.