Millions of Americans take dietary supplements on a daily basis, whether they are in the form of vitamins or something like a nootropic. With the industry’s rapid expansion in just a short amount of time, the question on everyone’s mind is, “What impact has this had on the economy, health, and other industries?”
The answer to this question is surprisingly beneficial. Here’s what America’s use of supplements has affected.
The largest impact can be seen in the stimulation of the economy. While it’s no surprise that national business boosts GDP, just how much has the supplement industry generated?
The Council for Responsible Nutrition (CRN) released an economic impact report in 2016 with astounding findings. Their research showed that the industry contributed over $120 billion dollars to the U.S. economy, or just under 0.70% of the GDP. Of that $120 billion figure, $40 billion is paid out to the roughly 750 thousand employees in the industry while another $15 billion is contributed to taxes.
That’s more revenue than the online gaming and online education industries have made, which earned nearly $20 billion less each that fiscal year. Those numbers account for vitamins and minerals found on supermarket shelves as well as dietary supplements and cognitive enhancers, which you can gather more info on here.
It is suspected that this ever-growing trend in purchasing supplements stems from Americans wanting to take preventive health measures that ultimately save them cost on health care. While the actual benefit of each supplement is widely debated, what is certain is the impact this industry has on others.
Research And Development
It wasn’t all that long ago when the horrors of animal testing were exposed to the public. Since then, not much has been done by corporations to change the way they test a product. That is, until a hundred-billion-dollar industry with a health-centric focus got involved.
Believe it or not, there are testing labs that care about the wellbeing of their animals and enforce humane practices. Unfortunately, their methods are not always as cost effective as some corporate conglomerates would like. Fortunately, the supplement industry takes great strides in bringing consumers a fully healthy and organic product, including paying the extra cost to implement these testing methods.
Testing itself is made to be more animal friendly, humane products from companies like RapID Lab are used, and safe products can hit store shelves without the atrocities of yesteryear’s laboratories. While change may be slow as a whole in this sector, revolutionizing the industry has to start somewhere and the funds generated from supplements are the perfect fuel for change.
The industry has also impacted American ideas on health. Alternative medicine has been around since long before the pharmaceutical industry, but saw a decline since the population began to rely on their prescriptions. That trend has nearly flipped with the rise of supplementation.
Now, Americans take vitamin C for a cold, a multivitamin to stay healthy instead of a doctor check up, and B12 for the energy they need in a day. While this rise in vitamin and mineral usage is in no way detrimental to the healthcare industry, it has become a more widespread way to stay healthy and combat minor infections.
With an incredible impact on the economy, animal testing, and healthcare mindsets within the public, it will be interesting to see how the supplement industry shapes more aspects of our society in the future. For now, the numbers are staggering and the effects are all beneficial.
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