{"id":3650,"date":"2023-02-14T07:52:00","date_gmt":"2023-02-14T11:52:00","guid":{"rendered":"https:\/\/creativethirst.com\/blog\/?p=3650"},"modified":"2023-11-12T12:58:45","modified_gmt":"2023-11-12T16:58:45","slug":"2023-state-of-the-dietary-supplement-market","status":"publish","type":"post","link":"https:\/\/creativethirst.com\/blog\/2023-state-of-the-dietary-supplement-market\/","title":{"rendered":"2023 State of The Dietary Supplement Market"},"content":{"rendered":"\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"307\" data-id=\"3725\" src=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/02\/2023-state-of-the-dietary-supplement-market-1024x307.jpg\" alt=\"State of the dietary supplement market\" class=\"wp-image-3725\" srcset=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/02\/2023-state-of-the-dietary-supplement-market-1024x307.jpg 1024w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/02\/2023-state-of-the-dietary-supplement-market-300x90.jpg 300w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/02\/2023-state-of-the-dietary-supplement-market-768x230.jpg 768w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/02\/2023-state-of-the-dietary-supplement-market.jpg 1353w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Key Trends: <\/strong>Vitamin and Dietary Supplement Market 2023 Report<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Supplement Industry Snapshot<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The online vitamin and supplement industry grew all throughout the Covid-19 pandemic in 2020 through 2021 and will continue to grow in 2023.<\/li>\n\n\n\n<li>The rapid growth of the eCommerce sector due to the pandemic in 2020 resulted in a number of new and existing nutritional supplement brands selling 100% direct to consumers online.<\/li>\n\n\n\n<li>Supply chain disruption caused by the pandemic will continue to present problems for supplements in 2023. Those that have multiple sources of supply will win.<\/li>\n\n\n\n<li>We also saw increased competition due to increased demand, as more people focused on health and wellbeing. Particularly in the immune system support segment. This will likely level off over the next 2 to 3 years.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Will supplement sales continue to rise in 2023?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The website medGadget reported on a study conducted by Fact.MR that through 2023 sales for nutritional supplements will rise by 6.7% Compound Annual Growth Rate (CAGR) from 2017 through 2023. During that time period, the CAGR will surpass a value of $97,688 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">NBJ expects a lasting boost to the industry through 2024 and beyond, driven by the effects of the pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And the dietary supplement market is forecasted to rise as high as $272 Billion by 2028.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key market drivers in a \u201cPost\u201d Covid\u2019s world<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Not surprisingly, sales of immune health, stress relief, and heart health grew during the Covid-19 pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Covid\u2019s impact on the supplement and vitamin industry will continue. It may never really stop since a post covid world may not actually be a thing. We\u2019re over 2 years in and we have no idea if we\u2019re in the middle or the end of this. &nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">One of the biggest drivers of the supplement market in 2023 will continue to be consumer awareness and prioritization of wellness and prevention. This shift in consumer attention to a proactive prevention approach to health changes a few things.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">First the business model. Opening up telemedicine and online consulting of wellness. This is a big opportunity for every supplement company out there. I\u2019m thinking of this opportunity as more of a line extension on the brand. For an existing supplement company, your customers already know your brand. So adding a nutritional consultation service on top is a natural fit and a great value add for your brand.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Second, the mindset of the consumer has changed. Now a proactive approach to the treatment and prevention of potential diseases is the starting point. Whereas pre-Covid it has always been said in the direct response space that prevention never sells. The bigger pain point in the mind of the customer is where the money is. That was and always has been the case. But this shift in consumer sentiment because of the pandemic makes it easier to sell prevention and wellness. This shift in consumer behavior toward prevention may stay longer than Covid. And that\u2019s a good thing for the supplement market.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Let\u2019s all binge Netflix and work from home<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Another key driver to supplement growth has been the shift to a more sedentary lifestyle due to the early lockdowns in 2020. Two years later, many people are still working from home and as a result, have not only watched a ton of Netflix but are now firmly entrenched in a new lifestyle.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The new commute from the bed to the home office is one of the main drivers for the demand for food supplements. Food supplements aka \u201csuperfoods\u201d popularity are rising as a result of the bad eating habits we\u2019ve all adopted while stuck at home. The pandemic created the rise of healthy indulgence and I don\u2019t see any slowdown in the superfood trend anytime soon.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Elephant In The Room &#8211; Inflation<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Whether inflation has kicked in or not is debatable. But I don\u2019t think anyone would disagree prices are going up. And the increased cost of healthcare is no exception. Health spending in the U.S. increased by 4.6% in 2019 to $3.8 trillion. Slightly faster than what was observed in 2017. Add to that the cost of Covid-19 testing and vaccines and add inflation on top and it creates the perfect storm effect for rising prices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The effect of this shifts more attention to prevention. Prevention through the use of supplements in an attempt to reduce long-term health costs at the individual consumer level.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This could mean a brighter future for the health supplement market in 2023 and beyond.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>We All Want Privacy<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">On top of all this, there\u2019s been a major shift in browser privacy in 2021 from Apple going to war with Facebook and Google. Apple\u2019s update of iOS 14.5 Safari\u2019s third-party cookie tracking has reached havoc on many health supplement ad accounts. More so on Facebook than anywhere else but Google ads have also been affected in a negative way.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This has undoubtedly caused the cost of acquiring a customer to go up in 2021 and it will continue to do so in 2023, along with more competition driving up the ad bidding prices. It is becoming more expensive to acquire a customer in general across the board because of browser privacy which has a direct impact on advertising attribution. Personally, I think this is only a short-term problem. Google is already making advertising modeling innovations that go beyond the cookie. And I wouldn\u2019t be surprised that by the end of 2023, this won\u2019t be an issue any longer. Not sure what the solution will be but I\u2019m sure there will be one, or a new ad platform will appear for direct marketers to jump to.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a result, though, Facebook advertising for health supplements may be taken down a few pegs. And shift even more toward influencer marketing in 2023.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>All in all 2023 looks like it\u2019s going to be the start of some changes for the health supplement market<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The change in how people view health from cure to preventative will have repercussions on everything from marketing opportunities to how people buy supplements online.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a result, we\u2019ll continue to see an increase in foundational supplement sales. Supplements like multivitamins, B complex, magnesium, vitamin C, D, and Zinc. As more and more millennials and younger people continue to push this trend upward. This increase in general awareness of supplements will be good for the market as a whole. Rising tides rise all ships.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As people change how they view their health, few things will be here to stay. Two of the biggest are virtual wellness and healthy snacking.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The year 2023 will also continue to push the healthspan meta trend further. Healthspan is a twist on Lifespan. Which is defined as years of life that are healthy and free of disease rather than simply anti-aging and beauty. Which affects how these health niches might shift their positioning. To match the sentiment of where the culture is currently going.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Healthspan will lean into how healthy we can live regardless of age. We\u2019ll see this trend of supporting health with diet, lifestyle, and supplements not in mid-to-late age, or only when a health issue arises, but throughout our lives. It\u2019s more than just immune support from covid. It also ties into the healthy snacking superfoods trend.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some supplements to look out for in 2023 towards this trend include anti-inflammatories, supporting healthy blood sugar balance, reducing free radicals, and always supporting immune resilience.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"250\" height=\"375\" src=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/revenue-ceiling-250.jpg\" alt=\"\" class=\"wp-image-5168\" style=\"width:190px;height:auto\" srcset=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/revenue-ceiling-250.jpg 250w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/revenue-ceiling-250-200x300.jpg 200w\" sizes=\"auto, (max-width: 250px) 100vw, 250px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><strong>Breakthrough The Supplement Revenue Ceiling<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This diagnostic reveals the specific bottlenecks limiting your supplement brand&#8217;s revenue growth and provides a clear optimization pathway for breakthrough.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-left is-layout-flex wp-container-core-buttons-is-layout-63375db1 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter is-style-fill\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/creativethirst.newzenler.com\/f\/break-through-the-supplement-revenue-ceiling-1\">GET YOUR DIAGNOSTIC<\/a><\/div>\n<\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-4fc3f8e1 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/hsbm.buzzsprout.com\"><img loading=\"lazy\" decoding=\"async\" width=\"392\" height=\"380\" src=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/health-supplement-mastery-podcast-logo.png\" alt=\"Health Supplement Business Mastery Podcast\" class=\"wp-image-4566\" style=\"width:194px;height:auto\" srcset=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/health-supplement-mastery-podcast-logo.png 392w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/health-supplement-mastery-podcast-logo-300x291.png 300w\" sizes=\"auto, (max-width: 392px) 100vw, 392px\" \/><\/a><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"wp-block-paragraph\">Listen to the <a href=\"https:\/\/hsbm.buzzsprout.com\" target=\"_blank\" rel=\"noreferrer noopener\">Health Supplement Business Mastery Podcast<\/a> for for dietary supplement entrepreneurs and marketers. <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/podcasts.apple.com\/gb\/podcast\/health-supplement-business-mastery\/id1501188717\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"150\" src=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/apple-podcast.png\" alt=\"\" class=\"wp-image-4567\" srcset=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/apple-podcast.png 400w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/apple-podcast-300x113.png 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/open.spotify.com\/show\/6tzo0If1DvE5QMJaAPjrRY\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"373\" src=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/spotify-podcasts.png\" alt=\"Listen to the health supplement business mastery podcast on Spotify\" class=\"wp-image-4569\" srcset=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/spotify-podcasts.png 1000w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/spotify-podcasts-300x112.png 300w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/spotify-podcasts-768x286.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/feeds.buzzsprout.com\/889189.rss\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"260\" src=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/google-podcast-1024x260.png\" alt=\"Listen to the health supplement business mastery podcast on Google Podcasts\" class=\"wp-image-4568\" srcset=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/google-podcast-1024x260.png 1024w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/google-podcast-300x76.png 300w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/google-podcast-768x195.png 768w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/google-podcast.png 1072w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Key Trends: Vitamin and Dietary Supplement Market 2023 Report Supplement Industry Snapshot Will supplement sales continue to rise in 2023? The website medGadget reported on a study conducted by Fact.MR that through 2023 sales for nutritional supplements will rise by 6.7% Compound Annual Growth Rate (CAGR) from 2017 through 2023. During that time period, the&hellip; <a class=\"more-link\" href=\"https:\/\/creativethirst.com\/blog\/2023-state-of-the-dietary-supplement-market\/\">Continue reading <span class=\"screen-reader-text\">2023 State of The Dietary Supplement Market<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3650","post","type-post","status-publish","format-gallery","hentry","category-conversion-rate-optimization","post_format-post-format-gallery","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>2023 State of The Dietary Supplement Market<\/title>\n<meta name=\"description\" content=\"2023 State of The Dietary Supplement Market\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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