Overview and Scope
Nutritional supplements are any vitamin or mineral added to foods or diet that improves the nutritive content of the meal and occasionally supplies only those nutrients that customers are lacking. They are used to enhance diets and usually include vitamins, minerals, herbs, or amino acids.
Sizing and Forecast
The nutritional supplements market size has grown strongly in recent years. It will grow from $390.7 billion in 2023 to $419.71 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to aging population, changing lifestyles, sports and fitness trends, e-commerce growth, rise of veganism.
The nutritional supplements market size is expected to see strong growth in the next few years. It will grow to $569.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to personalized nutrition, growing interest in genetic testing, smart packaging, epidemic preparedness, sustainability focus. Major trends in the forecast period include CBD and hemp-based supplements, plant-based proteins, mental well-being supplements, collagen supplements, brain health supplements.
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Segmentation & Regional Insights
The nutritional supplements market covered in this report is segmented –
1) By Type: Vegan Sport Nutrition, Meal Replacement Shakes, Food Supplements, Other Types
2) By Formulation: Tablets, Capsules, Powder, Soft gels, Liquid, Other Formulations
3) By Ingredient : Botanicals, Vitamins, Minerals, Proteins & Amino Acids, Fish Oils, Fibers & Specialty Carbohydrates, Enzymes, Other Ingredients
4) By Distribution Channel: Supermarket/Hypermarket, Retail Pharmacies, Direct Selling, Drug Stores, E-Commerce
5) By End User: Infant, Children, Adults, Pregnant Women, Elderly
Asia-Pacific was the largest region in the nutritional supplements market in 2023. Latin America is expected to be the fastest-growing region in the forecast period. The regions covered in the nutritional supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing prevalence of non-communicable diseases is driving demand for the nutritional supplement market. Non-communicable diseases refer to a group of medical conditions that are usually not caused by an acute infection. These health consequences typically require long-term treatment and care. Noncommunicable diseases such as diabetes can be managed by several supplements, including alpha-lipoic acid supplementation to address diabetic complications. For instance, in December 2021, according to the statistics published by the International Diabetes Federation, a Belgium-based, non-profit diabetes association, 537 million adults (20–79 years) were recorded as living with diabetes, and 6.7 million people died of diabetes in 2021. However, by 2030, it is anticipated that there will be 643 million people worldwide with diabetes. Therefore, the increasing prevalence of non-communicable diseases will drive the growth of the nutritional supplement market.
Key Industry Players
Major companies operating in the nutritional supplements market report are The Archer-Daniels-Midland Company, Pfizer Inc., Bayer AG, Abbott Laboratories, GlaxoSmithKline plc, Otsuka Pharmaceutical Co Ltd., DuPont de Nemours Inc., Koninklijke DSM NV, Amway Corporation, Nutrilite Products Inc., Nestlé Health Science SA, Glanbia plc, Herbalife Nutrition Ltd., Carlyle Group Inc., The Carlyle Group Inc., Stepan Company, GNC Holdings Inc., Nu Skin Enterprises Inc., USANA Health Sciences Inc., Arkopharma Laboratories Company Limited, Iovate Health Sciences International Inc., Now Health Group Inc., Xango LLC, Garden of Life LLC, Pharmavite LLC, Nature’s Bounty Co, Herb Pharm LLC, American Health Formulations Inc., Ayanda GmbH, BioTech USA, Himalaya Global Holdings, The Biomedical Research & Longevity Society, MegaFoods Products Madras Private Limited, MusclePharm Corporation, SmartyPants Vitamins Inc., Thorne Research Inc., Vitabiotics Ltd., Vitacost.com Inc
The nutritional supplements market report table of contents includes:
Executive Summary
Market Characteristics
Market Trends And Strategies
Impact Of COVID-19
Market Size And Growth
Segmentation
Regional And Country Analysis
……..
Competitive Landscape And Company Profiles
Key Mergers And Acquisitions
Future Outlook and Potential Analysis
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