Health Supplement Stores Industry Profile

Companies in this industry sell vitamins, minerals, and dietary supplements from physical retail locations. Major companies include GNC Holdings, Vitamin Shoppe, and Vitamin World (all based in the US), along with Holland & Barrett (UK).

Worldwide supplement sales through all channels are projected to approach $177.5 billion in 2023 expected to expand at a CAGR of 9.1% from 2024 to 2030, according to Grand View Research. North America along with Asian countries, notably China, followed by North America, and Sweden are the countries that have the top revenues.

The US health supplement store industry includes about 10,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $6 billion. Dietary supplement usage in the US is at an all-time high, with more than 80% of adults taking supplements, according to The Council for Responsible Nutrition.

COMPETITIVE LANDSCAPE

Health supplement stores compete with discount stores, supermarkets, drugstores, mail order and internet retailers, health food stores, and direct sellers of supplements, including multi-level marketing organizations. The highest concentrations of vitamin, mineral, and health supplement sales are in supermarkets and superstores, followed by online merchants and specialty stores. Among brick-and-mortar chains, dollar stores are a fast-growing growing retail channel, posting double-digit increases in supplement sales. Amazon is the largest seller of nutritional supplements, accounting for about 40% on e-commerce sales, according to Statista.

Health supplement stores compete with discount stores, supermarkets, drugstores, mail ...