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 …
