Business
Thorne is on pace for $650 million in sales as Gen Z fuels a supplement boom — despite subscription fatigue
Supplement brand Thorne is on pace to reach $650 million in annual revenue this year, fueled by Gen Z and millennial shoppers who are increasingly focused on improving their health, CNBC has learned.
The 42-year-old supplement brand, which L Catterton took private in 2023, has sustained a compound annual growth rate of over 30% since the acquisition, according to the company. Between 2022 and 2025, its revenue more than doubled from $229 million to over $500 million, according to filings and the company.
Meanwhile, the number of consumers who shop with the brand directly has grown to about 7 million, up from around 4 million at the end of 2023, fueling a 63% surge in direct-to-consumer sales, the company said.
“A lot of what we’ve done in the last few years has been streamlining and focusing and in some ways, simplifying our go-to-market, being really clear about who is our consumer that we’re serving, what are they looking for from brands as you move forward, and looking back at our heritage,” said CEO Colin Watts, the former CEO of The Vitamin Shoppe. “… Our expectation is this is going to be a billion-dollar brand over the next few years.”
Thorne’s growth comes as the market for vitamins, minerals and supplements balloons in the U.S. — buoyed in part by the “Make America Healthy Again” movement and by health-conscious young shoppers who are looking to optimize their health and improve things like sleep and nutrition. The vitamins, minerals and supplements market reached $125 billion in the U.S. in 2025 and is projected to grow 11% by 2027, according to data collected by consulting firm AlixPartners.
“As the science has gotten better and as, frankly, the consumer has taken more control over their health, there’s been a shift in spending and a shift in focus towards ‘what can I do proactively to manage my health in the future?'” Watts said.
Thorne’s Magnesium Glycinate and Ginseng Plus supplements.
Courtesy: Thorne
The surge in interest in dietary supplements, which was a popular gifting category over the recent holiday season, has created an opportunity for major retailers like Walmart, Target and Amazon, consumer product companies like Nestlé and smaller brands like Thorne. It also reflects a broader generational shift reshaping the industry. Once dominated by older consumers focused on preventative health, today the category is increasingly driven by younger shoppers interested in performance, personalization and daily wellness routines.
“When I started looking and working in this market 25 years ago, this was a boomer-driven market; you basically focused on servicing the boomers, that’s how you won in the market. So the reality is, today’s market is a Gen Z, millennial market,” Watts said. “One of the big Gen Z millennial trends is, they don’t think about supplementation as prevention. They think about it as performance. It’s like, ‘I want to sleep better. I want to have more energy. I want to deal with my anxiety. I want to work out better.’ These are the kinds of things that they’re very, very focused on.”
About 60% of Thorne’s total revenue comes from shoppers under the age of 40, who are spending about 1.5 times more than their parents did on wellness, Watts said. He estimated about half of those shoppers under 40 are subscribers, despite a broader hesitation among some younger consumers to commit to recurring subscription plans.
“One of the reasons that Gen Z hates subscriptions is because it drives them crazy — drives me crazy, frankly — to put something on a subscription and then see it cheaper somewhere else,” Watts said. “We are very disciplined about our pricing .… We don’t, you know, high, low, promote the brand. It is fairly consistent.”
To entice shoppers to subscribe and offer a break on high pricing, Thorne offers free shipping and a 10% discount on each refill order. Subscriptions can come as often as every two weeks or as far apart as four months. When shoppers subscribe to three or more products, they can save 20%.
As the supplement industry grows, so does scrutiny surrounding ingredients, claims and manufacturing, especially among younger shoppers who often want to know how products are produced. Supplements are not regulated by the FDA for safety or effectiveness, putting pressure on brands to conduct their own testing that they can integrate into marketing campaigns.
“We spend a lot of time trying to make sure that we can demonstrate the science, that we can demonstrate the efficacy. We’re one of the few brands, for example, that has worked with the Mayo Clinic now for over 14 years,” Watts said. “We’ve also worked with a lot of top sports teams. We’re the official supplement of the UFC. We’re working with various different tennis associations … all of this basically forces us to raise our game, because these are folks that are even more discerning than the average consumer.”
When asked if the company has ambitions to go public again, Watts said there’s “no rush” to do so. He called an IPO one potential route, along with a potential strategic acquisition by a larger firm.
“Like any private equity firm, I think [L] Catterton will look for the right opportunity, for the right exit, at the right time,” Watts said. “Right now, as we look at where we’re going to grow — through bricks-and-mortar retail, through international expansion, through larger expansion moving forward — there’s also a lot of strategic companies that are out there that might see a brand like Thorne as a very powerful asset within their overall portfolio.”
Business
Stock market today: Nifty50 opens below 22,800, Sensex tumbles over 800 points as oil prices stay above $110 – The Times of India
Stock market today: Dalal Street opened in red on Tuesday, with benchmark indices slipping 0.9% as oil prices continued to rise and US President Donald Trump’s deadline for Iran nears. While Nifty50 began the day below 22,800, Sensex fell over 800 points in early trade to touch 73,282.41. As of 9:20 am, Nifty50 was trading at 22,765.45, down 202.80 or 0.88%. BSE Sensex made slight recovery, down 694.03 points or 0.94% to 73,412.82.This fall comes after a sharp rebound in the previous session, when both Sensex and Nifty recovered strongly, erasing early losses triggered by rising crude oil prices as tensions continued to intensify in the Middle East. Traders attributed the rise to intense buying in banking and IT stocks, along with a strengthening rupee, that lifted investor’s confidence.During the volatile session on Monday, the 30-share BSE Sensex surged 787.30 points, or 1.07%, to settle at 74,106.85. During intraday trade, it had jumped 887.91 points, or 1.21%, to touch 74,207.46. Market breadth remained firmly positive, with 3,207 stocks advancing, 1,147 declining and 190 remaining unchanged on the BSE.The 50-share NSE Nifty also ended higher, rising 255.15 points, or 1.12%, to close at 22,968.25. Rupee, however, stayed firm on Tuesday, opening at 93.0025 per US dollar, rising 0.06% from its previous close of 93.06 against the greenback.In global markets, oil prices climbed while equities showed a mixed trend as investors assessed Donald Trump’s latest deadline for Iran to reopen the strategic Strait of Hormuz or face being “decimated”.West Texas Intermediate rose 2.6% to $115.34 per barrel, and Brent North Sea crude gained 1.3% to $111.24 per barrel. Across Asia, Tokyo’s Nikkei 225 slipped 0.2% to 53,323.41 in early trade, while Shanghai’s Composite index rose 0.5% to 3,899.09. Hong Kong’s Hang Seng Index remained closed for a holiday.In currency markets, euro weakened to $1.1530 from $1.1543 on Monday, while the pound dipped to $1.3216 from $1.3236. The dollar strengthened against the yen to 159.86 from 159.68. The euro also edged lower against the pound to 87.25 pence from 87.27 pence. In the US, the Dow Jones Industrial Average ended 0.4% higher at 46,669.88, while London markets were closed for a holiday.
Greggs is launching a chicken version of its customer favourite sausage and vegan rolls in a permanent addition to its menu.
The Chicken Roll – described by the high street baker as “seasoned chicken wrapped in layers of crisp, golden, glazed puff pastry” contains 305 calories and will cost £1.35 when it goes on sale on Thursday.
It follows the Sausage Roll and the pork free Vegan Roll.
To celebrate the final launch of the “trilogy”, Greggs is allowing customers the chance to be among the first to taste the new roll with a 20-minute slot between 3.30pm and 9pm on Wednesday (April 8) at a pop-up location at 15 Bateman Street, in London’s Soho.
Places will be given on a first-come first-served basis but, in a nod to the trilogy theme, guests must arrive as part of a trio of friends or family.
Visitors will be able to pair their three complimentary rolls with a free chicken-themed cocktail or mocktail.
A Greggs spokeswoman said: “They say the best things come in threes, and our iconic roll trilogy is no exception.
“We can’t wait for our customers to experience the Chicken Roll as the ultimate headline act of our flaky franchise.”
Over the past year, Greggs has come under pressure from cautious shoppers affected by the rising cost of living, higher tax and labour costs, and the growing use of weight-loss treatments.
Last month, the Newcastle-based firm reported that statutory pre-tax profits fell by 17.9% to £167.4 million for the year to December 27, compared with a year earlier.
It also told shareholders that total sales grew by 6.8% to £2.15 billion over the year, with like-for-like growth buoyed by its continued store opening programme.
Greggs said it had 121 net store openings in 2025, expanding its shop estate to 2,739 locations by the end of the year.
It is targeting around 120 further openings this year as it highlighted ambitions to grow to “significantly more than 3,000 UK shops over longer term”.
Applied Nutrition is significantly expanding its product range to cater to customers using weight loss drugs, following a substantial increase in demand over the past year.
The health and wellness brand said it has identified a key business opportunity stemming from the sharp rise in Britons using GLP-1 treatments, such as Mounjaro and Wegovy.
The London-listed company, which already offers GLP-1-friendly high-protein ready meals launched in late 2025, confirmed that new products specifically designed for this market will be introduced later this year.
“The GLP-1 user is a growing customer. We see this as a consumer at the start of their weight loss journey who is now looking at how the medication can help them,” Thomas Ryder, founder and chief executive of the Liverpool-based firm, said.
“There is an opportunity, as those customers often need supplements and need smaller portions. I think this is a catalyst for the health and wellness space if we have that consumer in mind.
“We do have a number of products we will bring to market in this area because we do see that area growing.”
At least 1.6 million Britons have used weight loss jabs in the past year, according to research by University College London.
Applied Nutrition has reported strong growth, driven by targeting new customer opportunities and diversifying its sales channels, including expansion into UK retail stores.
In March, the company announced robust financial results, with pre-tax profits soaring by 77.1% to £20.9 million for the six months ending 31 January, compared to the previous year.
Sales also saw a significant uplift, rising by 56.5 per cent to £74.5 million over the same half-year period.
However, the firm cautioned that sales volumes in the Middle East are expected to be affected by the ongoing conflict in the region.
Applied Nutrition said it still expects to meet revenue targets for the year of around £140 million.
The company added: “Importantly, we have managed similar disruption in the past, supported by the agility of our operations.
“In this instance, we are working closely with customers to adapt our routes into the region and logistics arrangements to safeguard continued supply to those customers.”
Turkiye’s apparel exports ease 2.8% in Jan-Feb 2026
Stock market today: Nifty50 opens below 22,800, Sensex tumbles over 800 points as oil prices stay above $110 – The Times of India
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