Health Products Industry News in the United States

Market size and growth: As the world's largest dietary supplement market, the US dietary supplement market is expected to reach $71.16 billion by 2032, with a compound annual growth rate of 5.80%, with a market size of $42.85 billion in 2023.
·Consumer Trends:
·Popular categories: For the 52 weeks prior to October 8, 2023, the top ten health categories by sales volume in both natural and traditional channels in the United States were Cold&Flu, Digestive Health, Energy Support, Sleep Health, Exercise Performance, Cardiovascular Health, Bone Health, Stay hydrated, Weight loss, and Cognitive Health. Among them, the four categories of water supplementation, exercise performance, hangover therapy, and premenstrual syndrome (PMS) all increased by over 20% year-on-year. The category of water supplementation increased by as much as 49.08% year-on-year, with a compound annual growth rate of 42.30% in the past three years.
·Ingredient requirements: SPINS has predicted six breakthrough functional ingredients in the future based on the rapidly growing functional ingredients in the low to medium sales health category, namely cinnamon, propolis, beetroot, magnesium, angelica, and creatine.
·Industry Impact: According to a report released by the Council for Responsible Nutrition (CRN) in the United States, the total economic impact of the dietary supplement industry in 2023 was $158.6 billion, a 23% increase from the 2016 report, and contributed over $20 billion in tax revenue in 2023. Employees who work directly for dietary supplement companies earn over $19 billion in wages, totaling nearly $45 billion in total wages.
·Enterprise News: WOCYSV plans to invest in the construction of a 20 billion/year plant capsule project in the United States to further expand the US and surrounding markets, with a planned investment amount not exceeding 500 million yuan.