Nutritional Supplements Market Size
Global Nutritional Supplements Market reached USD 365.5 billion in 2022 and is expected to reach USD 595.4 billion by 2031 growing with a CAGR of 6.2% during the forecast period 2024-2031. The nutritional supplements market trend is shifting towards personalized and condition-specific supplements.
For instance, companies are developing targeted products for specific demographics, like prenatal vitamins for pregnant women or joint health supplements for the elderly.
The nutritional supplements market is a thriving industry driven by increasing health awareness and a growing focus on preventive healthcare. Consumers are seeking dietary solutions to complement their lifestyles, leading to a surge in demand for vitamins, minerals, and herbal supplements. E-commerce and digital marketing advancements further boost market growth by providing convenient access and engaging consumers with personalized offerings.
Some people's calcium intake can be significantly increased by nutritional supplements and antacid drugs. According to estimates, Americans who utilize supplements daily take in an average of 300 mg of calcium daily. In addition, calcium-containing antacids, supplying 200–400 mg of Ca per tablet, are consumed by about 18% of USA adults.
Market Scope
| Metrics | Details |
| CAGR | 6.2% |
| Size Available for Years | 2023-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | By Product Type, Form, Age Group, Distribution Channel, and By Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Rising Health Consciousness and Growing Aging Population Propel Nutritional Supplements Market
The nutritional supplements market trend is driven by the escalating health consciousness among consumers, who are becoming increasingly proactive about their well-being. The demand for dietary supplements is rising as individuals become more conscious of the value of healthy nutrition and how it affects overall health. To enhance their energy levels, immunity, and vitality, consumers are actively looking for items that complement their meals and assist overcome nutritional gaps.
Moreover, the growing aging population is a significant driver of the nutritional supplements market. As the number of senior citizens rises, more attention is being paid to preserving health and mobility as we age. Vitamins, minerals, and joint assistance supplies are a few examples of nutritional supplements that are tailored to this group's particular health requirements. The desire of the aging population to maintain their quality of life increases the need for supplements that support healthy aging, which is a major factor in the market's ongoing expansion.
Expanding Fitness and Wellness Culture Fuels Nutritional Supplements Market Growth
Another driver of the nutritional supplements market is the burgeoning fitness and wellness culture worldwide. As more individuals prioritize their health and actively engage in physical activities, the demand for sports supplements and protein products has skyrocketed. Fitness enthusiasts and athletes seek products that can enhance their performance, support muscle recovery, and optimize their exercise routines.
Protein supplements, amino acids, and other sports-specific nutritional products are becoming more popular as people realize how crucial nutrition is for accomplishing fitness objectives. The rise in popularity of dietary supplements like herbal extracts and antioxidants that enhance overall wellness has also been attributed to the trend of advocating a holistic approach to wellness that includes both physical fitness and mental health.
The Growing Nutritional Supplements Market Faces Challenges with Misinformation and Regulatory Complexity
One key restraint of the nutritional supplements market is the potential for misinformation and false claims. There is a chance of deceptive marketing and inflated health advantages attached to some supplements as the market grows in popularity. Customers may be scammed into buying products that do not produce the desired benefits or have not been supported by scientific research.
Addressing this concern requires regulatory oversight and transparency from manufacturers. Companies must give accurate and fact-based information about their products if they want to keep the trust of their customers and assure long-term prosperity. Despite this obstacle, the market for nutritional supplements is still expanding due to the rising number of health-conscious people looking for dietary supplements to boost their well-being and general health.
Market Segment Analysis
The global nutritional supplements market is segmented based on product type, form, age group, distribution channel, and by region.
Dietary Supplements Dominating the Global Nutritional Supplements Market by Unleashing Vital Health Benefits
The global nutritional supplements market has been segmented by type into dietary supplements, sports supplements, beauty supplements, and others.
Among all of these segments, dietary supplements command a 40% market share in the global nutritional supplements market. Dietary supplements are available in different forms, which include tablets, drugs, powders, and drinks, and capsules are pretty helpful for those who are vitamin deficient. Vitamin supplements contain vitamins like vitamin C, vitamin D, and B complex vitamins. These vitamins support overall health and wellness.
Mineral supplements also come under the dietary supplements segment. Minerals like iron, zinc, and calcium, help to maintain some physiological processes and boost bone health. Plant-derived supplements like herbal supplements are offers natural remedies for various health issues. These supplements serve enormous health benefits and offer convenient options for individuals, who are seeking their health well-being.
Market Geographical Share
North America Leads Global Nutritional Supplements Market with 45% Market Share
In the North Americas region, the market for nutritional supplements has experienced substantial growth, driven by specific factors and consumer preferences unique to this area. currently, north america regions hold a 45% market share in the global nutritional supplements market. The usage of herbal supplements has gained traction among health-conscious people those seeking natural and plant-based remedies for various health benefits.
Nowadays the demand for sports supplements has witnessed a surge, particularly in the United States and Canada, where fitness and athletic activities are highly popular and people seek products to support their performance and recovery. Most people in north america, take protein supplements as their daily routine, and also omega-3 Supplements, multivitamins, and antioxidant supplements are also gaining traction, especially among those following active lifestyles, athletes, and fitness enthusiasts.
Major Key Players
The major global players in the market include Abbott Nutrition, Amway, Nestle, Glanbia Plc, Herbalife International of America, Archer Daniels Midland, PepsiCo, Nature’s Bounty Co., DuPont, and American Health, Inc.
COVID-19 Impact
Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
Covid-19 Impact:
The Covid-19 pandemic has significantly impacted the Nutritional Supplements market. As people became more health-conscious during the crisis, the demand for supplements surged, with a focus on immune-boosting products like vitamins C, D, and zinc. Online sales saw a notable increase as consumers sought contactless purchasing options.
However, disruptions in supply chains and production led to temporary shortages and price fluctuations. The pandemic also prompted increased research and development in the sector to meet evolving consumer needs. Overall, Covid-19 has driven both challenges and opportunities in the Nutritional Supplements market, reshaping consumer behavior and industry dynamics.
Key Developments
- On April 28, 2023, Genetic Nutrition, UK’s premium sports supplement brand launched its high-quality health and wellness brand in India. Founded by international superbike racer Sandesh Prasanna Kumar, the brand is dedicated to providing the highest quality supplements to Indians.
- On September 12, 2022, Tata Consumer Products Ltd. (TCPL), Indian based company, announced that it entering into the health supplements segment with the launch of Tata GoFit, a range of health supplements for women. Tata GoFit has been specially developed for women and has an innovative and differentiated formulation with digestion-friendly enzymes and gut-friendly probiotics.
- On Apr 12, 2021, Fitday, a Hyderabad-based health supplements startup, announced plans to launch 50 brick-and-mortar stores by 2023 across India with an investment of Rs 60 crore, riding on a surge in health consciousness among the population as the coronavirus pandemic rages on.
Why Purchase the Report?
- To visualize the global nutritional supplements market segmentation based on product type, form, age group, distribution channel, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of nutritional supplements market-level with all segments.
- The PDF report consists of a cogently put-together market analysis after exhaustive qualitative interviews and an in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The global nutritional supplements market report would provide approximately 69 tables, 71 figures, and 190 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
