Wellness Supplements Market By Product Type, Price, Advantages, Development And Forecast 2023-2032|Nestle, Shaklee Corporation, Otsuka Pharmaceutical Co. Ltd., GNC Holdings Inc., Archer Daniels Midland Company

The Wellness Supplements Global Market Report 2023 by The Business Research Company, provides wellness supplements market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Wellness Supplements Global Market Report 2023, the global wellness supplements market size will grow from $258.51 billion in 2022 to $277.32 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the wellness supplements is expected to grow to $365.17 billion in 2027 at a CAGR of 7.1%.

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.

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The wellness supplements market 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

Product innovations are a key trend gaining p+B216opularity in the wellness supplements market. Major companies operating in the wellness supplements market are developing new products to strengthen their position in the market. For instance, in February 2022, Zeonutra, an Indian-based company manufacturing wellness supplement products launched a slim plus product. This product is organic with unique organic vegan nutritional supplements that contain slimbiome. This can be used by vegan consumers and is helpful in the reduction of weight with natural supplements.

The wellness supplements market report table of contents includes: