The Analyst’s Take: Trends in the $7.5B multivitamin market

On first thought, a deep dive into multivitamins sounds pretty boring. After all, the category is as old as the supplement industry itself. Not to mention that growth has been sluggish, remaining in the low single digits since hitting 0.4% in 2014—well below total supplement growth. But upon taking a closer look, it is clear multivitamins are crucial to the strong growth of the supplement market as a whole in 2020.

Multivitamins represent the largest single category tracked by Nutrition Business Journal; they are estimated to bring in $7.5 billion in annual sales this year. Multivitamins are also the most popular supplements among U.S. adults, according to the Council for Responsible Nutrition, with 58% reporting that they regularly took a multivitamin in 2019. So it comes as no surprise that growth in this category supports growth in the overall industry.

Growth in multivitamins is projected to reach 17.1% in 2020, up from just 3.7% in 2019. Interestingly, that 3.7% growth rate last year was considered a rebound—the highest rebound the category had seen since 2013. Multivitamin sales were already improving prior to the pandemic thanks to an increase in formulas targeting specific conditions and demographics, as well as strong growth in gummy delivery formats.

Now, record growth is being driven largely by multivitamins that support immunity and general health and wellness. Sales of multivitamins targeting immunity alone are projected to more than double in 2020. The global pandemic has led to record growth for the supplement industry, and multivitamins are clearly at the core of that growth. It is safe to say that 2020 is not boring, and maybe multivitamins aren’t so boring either.

Learn more in Nutrition Business Journal's 2020 Supplement Business Report, the industry's go-to guide for data and insights on the supplement market.