Revisiting 2022-23 Emerging Supplement Trends - How Are We Doing So Far?
It’s always a little risky to make predictions about nutritional supplement industry trends. Using the best information available, you make predictions on the direction the market is going to go—but that doesn’t always mean you’ll be right.
Earlier in 2022, I made predictions about supplement trends 2022 when I wrote “Types of Supplements: 2022-23 Trends”. So that we’re near the end of 2022, it's time to check in and see how I did so far!
Collagen Supplement Trends
The first product category I addressed was collagen. I previously stated that the collagen supplement market size “is estimated to grow at a CAGR of 9.0% between 2021 and 2028.” Since we haven’t reached the end of the forecast period yet, we can’t say how this will pan out, but according to NBJ Collagen Report 2022[i], growth is strong at 14.6%. So, I’d say that the actual growth rate exceeded my prediction — which is a good thing.
Result: On Track
Vitamin & Mineral Supplement Trends
According to my prediction, the vitamin and minerals supplement market size was slated to reach a CAGR of about 6.85%. According to “Vitamin and Minerals Global Market Report 2022”[ii], the CAGR looks like its about 6.0% — so I missed it by 0.85%. Still, pretty close.
Result: On Track
Immunity-Boosting Supplement Trends
I previously wrote, “The global immunity-boosting supplement market is expected to reach $28 billion by 2027 at a CAGR of 7.5%.” Unfortunately, I wasn’t able to obtain any up-to-date numbers at the time of this writing, but I did find another prediction about dietary supplements to boost immune health—and it blows my earlier prediction out of the water. According to Growth Plus Reports, “the global Immune health supplement market will clock US $130.4 billion by 2030” and will “grow at 10.9% CAGR during the forecast period of 2022-2030”[iii]. I’m not sure what’s going to happen here, but this category is one to watch.
Result: Off Track
Sports Nutrition and Bodybuilding Supplement Trends
I previously indicated that the global value of the sports nutrition market was $15.6 billion in 2019. I then predicted that “the global sports nutrition market is estimated to grow at a CAGR of 8.9% between 2020 and 2027”. Current data indicates that in 2020, “the real-time market size reached a revenue of about $17.5 billion, and the market is predicted to grow at a CAGR of 12.9% during the forecast period…from 2019-2026”[iv]. It looks as though, in one year, there was substantial growth in the category. More impressive is the jump in the projected CAGR.
It is worth mentioning that this is a trending yet crowded category. If you want to introduce a sports nutrition supplement next year, I advise you to spend considerable time developing your product. Specifically, you want to ensure it contains ingredients that resonate with today’s consumers, is expertly flavored, and is packaged to stand out online and on the shelf. An experienced, full-service supplement contract manufacturer like NutraScience Labs can provide you with all these services.
Looking at the sports nutrition trends 2022, my prediction appears to have been within the realm of reasonable.
Result: On Track
Sleep, Stress Support and Cognitive Health Supplement Trends
In re-reading my prediction about the trending supplements in 2022 in this category, I don’t like how I did it. I simply stated that “the global brain and cognitive health supplement market is anticipated to grow by 8.5% in the next 6 years – reaching $13 million in 2027”. I just addressed cognitive (brain health) in my prediction.
In hindsight, I should have broken them out into individual category trends. So that’s what I’m going to do now, starting with brain health - New data[v] suggests that the brain health supplements market will reach $15.59 billion by 2030, growing at a CAGR of 8.31%. I can believe that there will be $2.59 billion in growth between 2027 and 2030, so my prediction on this seems accurate — and the difference between a CAGR of 8.5% and 8.31% also seems pretty much in line.
- In 2017, the U.S. market for sleep supplements was almost $600 million. Now it is more than twice the size at over $1.2 billion and is projected to exceed $1.4 billion by 2025.[vi]
- The stress supplements market is projected to reach a value of $756.6 million by 2028, growing at a CAGR of 6.75%.[vii]
Result: Incomplete Since My Prediction Should Have Been More Specific
Vegan-Friendly Supplements
I previously stated, “The current global vegan supplements market value is over $17 billion”. While this statement still holds, it is interesting how statisticians slice and dice the numbers. Unbeknownst to me, this didn’t include the full value of the organic pea protein market size. So, get ready for this. According to Vantage Marketing research[viii], the organic pea protein market stood at $18.40 billion in 2021 and is expected to grow at a CAGR of 11.8% and reach $40.17 billion by 2028. I don’t know about you, but that increase blows my mind!
Result: Off Track – Keep a Close Watch on This Category Though
Conclusions
So, how would I rate my predictions so far? I’d give myself a B. I got all the categories right and was correct that they would have meaningful growth, but I didn’t always get the level of growth correct. Still, I’ll take that for a win!
References:
[ii] Vitamin And Minerals Global Market Report 2022. October 2022.
[iii] Immune health supplement Market Size to Grow at 10.9% CAGR During the Forecast Period of 2022-2030 | Growth Plus Reports.
[iv] Global Sports Nutrition and Supplements Market Anticipated to Generate a Revenue of $35,350.0 Million and Rise at a CAGR of 12.9% during the Forecast Period 2019-2026. Research Dive. September 13, 2022.
[v] Brain Health Supplements Market is projected to reach USD 15.59 Billion by 2030, growing at a CAGR of 8.31%: Straits Research. Straits Research. August 04, 2022
[vi] Polito R. Monitor: Bigger sleep supplements market requires new strategies. Natural Products Industyr Health Monitor. Aug. 2022.
[vii] Stress Relief Supplements Market Research Report. Market Research Future. November 2022.
[viii] Organic Pea Protein Market Size to Reach USD 40.17 Billion by 2028 - Powered by Growing Vegan Population and Popularity of Plant-Based Products – Vantage Market Research. Vantage Market Research. February 22, 2022.
