Supplement Industry: How Much Money Do Supplements Make?

The supplement market has had recent years of tremendous growth, and it is anticipated that this trend will continue in the years to come. Grand View Research estimates that the global market for dietary supplements was worth USD 123.28 billion in 2019 and is projected to increase at a CAGR of 8.2% from 2020 to 2027. It is obvious that the supplement sector is profitable given its rapid growth rate.

Herbalife, based in Los Angeles, California, and founded in 1980, is one of the top businesses in the dietary supplement sector. Herbalife is a multi-level marketing business that offers a range of dietary supplements, products for managing your weight, and personal care items. The business has a global presence in more than 90 nations and a network of more than 4 million independent distributors.

Michael O. Johnson, the company’s CEO since 2003, is the owner of Herbalife. Johnson’s net worth is thought to be over $40 million USD, according to Forbes. Depending on the product type and quantity ordered, Herbalife prices vary. A pack of Herbalife Protein Bars costs about $25, while a canister of Herbalife Formula 1 Nutritional Shake Mix costs about USD 45.

The Indian Ministry of Consumer Affairs outlawed Herbalife in 2016 on worries about the legitimacy of multi-level marketing systems. Herbalife has now resumed operations in India, though, after adapting its business strategy to adhere to local laws.

Another organization in the dietary supplement sector with a history of more than 70 years is Solgar. Solgar is a division of the NBTY Group, which is owned by the private equity company The Carlyle Group. One of the largest transactions in the dietary supplement market at the time was the Carlyle Group’s acquisition of NBTY in 2010 for USD 3.8 billion.

In conclusion, the supplement industry is a wealthy industry that will likely expand over the next few years. Solgar and Herbalife are only two examples of prosperous businesses in the sector. Supplement prices vary, but the industry as a whole brings in billions of dollars a year, making it profitable for those who invest in it.