The news: Procter & Gamble will acquire supplement brand Thorne for $3.8 billion, P&G CEO Shailesh Jejurikar told CNBC ahead of Tuesday's announcement. The deal expands P&G's healthcare business beyond digestive-health brands like Metamucil and Align Probiotic into broader wellness offerings including creatine, multivitamins, and a range of other health supplements. Closing is expected later in 2026, subject to regulatory approval.

Why it matters: Jejurikar pointed to consumer demographics as a key driver of P&G's wellness push, and the data supports that strategy. Shoppers aren't trading down to private label wellness brands, even in a tighter economy, Jejurikar said. Instead, they're becoming more selective about which products are worth the money. For instance, 23% of shoppers who buy supplements and vitamins reported trading up for these products while just 13% reported trading down, per The New Consumer and Coefficient Capital Consumer Trends 2026 report. Millennials and Gen Zers are leading the shift toward premium offerings. Thorne supplements are typically more expensive than mass-market brands, and most of its revenues come from shoppers under 40.

More broadly, health and wellness was the only category with a net increase in spending intent (more consumers expect to increase spending than reduce it), per a December 2025 CivicScience survey. By contrast, categories like home improvement, travel, and investing are seeing net pullbacks.

Implications for CPG and health brands: P&G isn't alone in betting on wellness products and supplements. Just months ago, Unilever acquired superfood gummy maker Grüns, for example. Recent deal activity reflects strong demand from millennials and Gen Z for products that support everyday health.

Consumers are willing to pay a premium for products they perceive as credible and effective. Beyond acquiring Thorne's product portfolio, P&G is betting on Thorne’s reputation of built on practitioner relationships and clinically positioned formulations, signaling confidence that science-backed wellness brands can maintain pricing power at a time when the supplement market becomes increasingly saturated with difficult-to-verify health claims and deceptive promotions.

Go deeper with our recently published report, “The Health and Wellness Market 2026”.