The Wellness Supplements Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company’s Wellness Supplements Global Market Report 2024, the wellness supplements sector has exhibited robust growth in recent years. Projections indicate a surge from $281.57 billion in 2024 to $303.79 billion in the same year, with a compound annual growth rate (CAGR) of 7.9%. This expansion in the historical context can be ascribed to heightened health consciousness, demographic shifts towards an aging population, a pivot towards preventative healthcare, the proliferation of retail channels, and the sway of holistic health methodologies.
Forecasts anticipate substantial expansion in the wellness supplements arena in the forthcoming years, poised to reach $417.87 billion by 2028, boasting a CAGR of 8.3%. This upsurge in the predicted period is attributed to a heightened emphasis on immune health, the surge of digital health and e-commerce, trends favoring personalization and customization, and escalating demand for plant-based supplements. Salient trends projected include a focus on regulatory compliance and transparency, global outreach and market penetration, strategic collaborations with healthcare professionals, and the ascent of clean label products.
An increasing focus on healthy lifestyles is expected to propel the growth of the wellness supplements market going forward. A healthy lifestyle keeps an individual energetic and reduces the risk for disease. Exercising, good nutrition, adequate sleep, and the intake of wellness supplements are the foundations of healthy living, which encourages people to incorporate health-improving supplement items into their daily lives. For instance, according to Economic Times, an India-based, business-focused daily newspaper, the number of health-conscious consumers in India would increase from 108 million in the calendar year 2020 to 176 million in 2026. Therefore, increasing focus on healthy lifestyles is driving the wellness supplements market growth.
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The wellness supplements market covered in this report is segmented –
1) By Product Type: Dietary Supplements, Vitamin, Mineral, Protein, Herbal
2) By Functional Food and Beverages : Omega Fatty Acids Fortified Food, Probiotic Fortified Food, Branded Iodinated Salt, Branded Wheat Flour, Energy Drinks, Sports Drinks
3) By Application: Home Care, Hospital, Chemical
Top 5 Major Players:
Key players within the wellness supplements market are strategically directing efforts towards the development of innovative supplements and vitamins, aimed at enhancing customer health and well-being in alignment with escalating consumer demand. For instance, in April 2024, Cura360, a US-based entity dedicated to democratizing healthcare and wellness offerings, unveiled its Wellness Supplements and Vitamins Products range. This unveiling epitomizes a commitment to holistic well-being, underscored by partnerships with esteemed manufacturers, the implementation of a volume discount scheme, and a steadfast dedication to accessibility and affordability. These initiatives aptly address the burgeoning demand for wellness products, dovetailing with critical market drivers such as heightened awareness, a burgeoning aging populace, and an augmented emphasis on fostering healthy lifestyles.
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32. Global Wellness Supplements Market Competitive Benchmarking
33. Global Wellness Supplements Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Wellness Supplements Market
35. Wellness Supplements Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Wellness Supplements Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Wellness Supplements Market, Segmentation By Functional Food And Beverages, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Wellness Supplements Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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