Burlingame, Aug. 23, 2023 (GLOBE NEWSWIRE) -- The global nutritional supplements market was valued at $325.4 Billion in 2022 and is estimated to exhibit a CAGR of 7.3%, in terms of value, over the forecast period (2023-2030), and is expected to reach US$ 572.4 Billion by 2030, according to a new study conducted by Coherent Market Insights, Inc. Nutritional supplements are created for complementing diet with specific minerals, vitamins, herbs, or other substances. These supplements address the nutritional gas and enhance overall health. Nutritional supplements can be found in different forms such as powders, pills, or liquids. These supplements are capable of helping people to overcome certain nutrient deficiencies or heath goals; however, they cannot replace a balanced diet.
Key Industry Insights & Findings from the report:
In April 2021, Persona Nutrion, launched the first ever daily gummy vitamin packs for families. These vitamins can address different health goals including immune health, relaxation, skin health, every day health support, and focus enhancement.
In January 2020, Herbalife Nutrition introduced novel Beta Heart, designed specifically for maintaining cholesterol levels in the blood. The new product is comes with vanilla flavor and are available in a 15 grams sachet.
Global nutritional supplements market is expected to exhibit a CAGR of 7.3% during the forecast period. The nutritional supplements market is growing rapidly in response to the increase in awareness about having a healthy diet for completing nutritional requirements.
On the basis of Ingredient, Vitamin Segment is expected to dominate the market during the forecast period and this is attributed to the widespread consumption of supplements around the world, along with minerals and proteins.
On the basis of Form, Capsule Segment is expected to dominate the market during the forecast period and this is attributed to the availability of different forms of encapsulated products that are driving the bioavailability of active ingredients.
On the basis Product Type, Sports Supplements Segment is expected to dominate the market during the forecast period and this is attributed to the rise in number of individuals focused on their health and fitness to lead a healthy lifestyle.
On the basis Distribution Channel, Pharmacy Stores Segment is expected to dominate the market over the forecast period and this is attributed to need for preventing inappropriate use of nutritional supplements, they are increasingly being sold in pharmacy stores.
On the basis of Geography, Asia Pacific is expected to hold a dominant position over the forecast period, due to rise in rise in health-consciousness in customers resulting into increased adoption of health-enhancing supplement products in their daily life.
Read full market research report, "Nutritional Supplements Market, By Ingredient (Vitamin, Protein, Fatty Acids, Botanical, Minerals, and Others), By Product Type, and By Region, Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030", published by Coherent Market Insights.
Key Trends and Analysis of the Global Nutritional Supplements Market:
Major players in the global nutritional supplements market are focused on adoption of various growth strategies such as launch of new products, to target expansion of their business around the world. For instance, the Best Body Nutrition Company introduced a chocolate flavored protein shake in 2015. The new protein shakes comprises 50 grams of protein in every bottle. Such strategic product launches are trending in the global nutritional supplements market, which are likely to boost the market growth in the near future.
Nutritional Supplements Market Report Coverage
| Report Attribute | Details |
| Market size value in 2022 | US$ 325.4 billion |
| Forecast Period: | 2023 to 2030 |
| Growth rate | CAGR of 7.3% from 2023 to 2030 |
| Base year for estimation | 2022 |
| Historical data | 2017 - 2021 |
| Forecast period | 2022 - 2030 |
Market Drivers:
Growing consumption of nutritional food
Prevalence of malnutrition is on the rise across the world. As per the UNICEF, in 2020, nearly 149.0 million children under the age of 5 were suffering malnutrition, while 40.1 million were overweight, and 49.5 million were weighted. The prevalence of obesity and overweight is increasing all over the globe. Countries with low income are majorly impacted by the underweight issues, while countries with high income are impacted by obesity issues. Due to this, consumption of nutritional food is increasing. This is further anticipated to augment growth of the global nutritional supplements market over the forecast period.
Reduced use of traditional ingredients
The use of traditional ingredients in diets is decreasing as people around the world are adopting healthy diet and lifestyles. Many companies are involved in development of a novel line of products and manufacturing new products that come in form of soft chews and gummies having different flavor that have no taste of medicine. Such products are eliminating the use of traditional ingredients such as coatings, colors, and preservatives. As a result, demand for nutritional supplements is likely to increase in the coming future, further driving growth of the market.
Market Opportunities:
Growing adoption of plant-based foods and superfoods to create multiple growth opportunities in the global nutritional supplements market during the forecast period. Market players are involved in development of novel products that are not like traditional medications. With increasing adoption of healthy lifestyle and healthy diet, the demand for plant-based foods and superfoods is on the rise. This is creating many opportunities in the market, which is likely to augment the market growth in the coming years.
Detailed Segmentation:
- Global Nutritional Supplements Market, By Ingredient:
- Vitamin
- Protein
- Fatty Acids
- Botanical
- Minerals
- Others (Fibers, Specialty Carbohydrates, etc.)
- Global Nutritional Supplements Market, By Form:
- Capsule
- Powder
- Tablet
- Liquid
- Others (Soft Gels, etc.)
- Global Nutritional Supplements Market, By Product Type:
- Dietary Supplements
- Sports Supplements
- Beauty Supplements
- Others (Specialty Supplements, etc.)
- Global Nutritional Supplements Market, By Distribution Channel:
- Hypermarkets/Supermarkets
- Pharmacy Stores
- Online Channels
- Others (Departmental Stores and Specialty Stores, etc.)
- Global Nutritional Supplements Market, By Region:
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- Italy
- France
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- Middle East
- Africa
- North America
- Company Profiles
- Abbott Laboratories
- Archer Daniels Midland (ADM)
- American Health, Inc.
- Amway Corporation
- Arkopharma Laboratoires Pharmaceutiques
- Ayanda
- DuPont
- DSM
- The Nature's Bounty Co.
- Herbalife International of America, Inc.
- Stepan Company
- Pfizer Inc.
- Nestle S.A.
- Nature's Sunshine
- GlaxoSmithKline
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