Pomegranates contain a complex mixture of gallotannins, ellagitannins, ellagic acid and anthocyanins. However, label claims on pomegranate supplements (PS) may not correlate with actual content of antioxidants, polyphenols or tannins. Nineteen PS were evaluated for their authenticity by determining ellagitannin composition by RP-HPLC and studying the relationship between total polyphenols as measured by the Folin–Ciocalteau assay and antioxidant capacity by oxygen radical absorbing capacity (ORAC), free radical scavenging properties by 1,1-diphenyl-2-picrylhydrazyl (DPPH) radical and ferric reducing antioxidant power (FRAP). Only a limited number of pomegranate supplements were authentic. Product labels were inconsistent with polyphenol composition and antioxidant content. A majority of the samples (n = 13) contained disproportionately high amounts of ellagic acid and low or no detectable pomegranate tannins. Only six products had tannin composition that resembled pomegranates (punicalagin, punicalin, ellagitannins and gallotannins). PS-01 (natural pomegranate extract) was the most representative of pomegranate fruit polyphenols with 99% total pomegranate polyphenol and the highest antioxidant capacity across all measures. Correlations between total polyphenols and antioxidant content were high (R2 > 0.87) in products that had polyphenol composition resembling pomegranates. Products that contained high amounts of ellagic acid and low or no detectable pomegranate tannins had poor correlations between total polyphenols and antioxidant content. The results indicate that reliable labeling information, better standardization, improved manufacturing practices and regulation of the market is required to assure consumers of the quality of pomegranate supplements.