Burlingame, May 28, 2024 (GLOBE NEWSWIRE) -- The global wellness supplements market is estimated to be valued at USD 270.10 Bn in 2024 and is expected to reach USD 454.86 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031, according to Coherent Market Insights. The growing health consciousness among consumers and increasing preference for preventive healthcare are driving demand for wellness supplements globally.
Market Dynamics:
The wellness supplements market is driven by the increasing health consciousness among population and rising prevalence of lifestyle diseases. Population around the world is seeking alternatives to maintain well-being and prevent the onset of diseases. Moreover, busy lifestyles and irregular routines have compelled people to take supplements in order to fulfill their daily nutrition needs. These factors are contributing to the growth of the global wellness supplements market.
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Market Trends:
Increased spending on preventive healthcare and rise in disposable income levels: Recent trends have shown that individuals are willing to spend more on goods and services that promote health and well-being. There is also a rise in disposable income particularly in developing nations which allow people to spend more on wellness supplements for nutrition and health maintenance. Growing popularity of herbal supplements: Herbal supplements are gaining extensive traction among consumers as they associate plant-based products with natural and organic ingredients. People are inclined towards herbal supplements due to the perception of absence of any side effects.
Wellness Supplements Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2024 | $270.10 billion |
| Estimated Value by 2031 | $454.86 billion |
| Growth Rate | Poised to grow at a CAGR of 7.7% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Supplement Type, By Application, By Form, By Distribution Channel |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Rising health consciousness • Preference for natural and clean label products |
| Restraints & Challenges | • Stringent regulatory guidelines • Side effects associated with some supplements |
Market Opportunities:
Within the supplement type segment, proteins supplements are expected to hold the largest market share over the forecast period. Rising health consciousness and focus on building muscle mass among consumers is driving the demand for protein supplements. Whey protein is the most popular form of protein supplement used by bodybuilders and athletes due to its high nutritional value.
The weight management application segment is anticipated to witness significant growth during the forecast period. Increasing prevalence of obesity worldwide due to sedentary lifestyles and unhealthy eating habits is propelling the demand for dietary supplements that aid in weight loss or weight management. Supplements containing green tea extracts, caffeine, and fiber are widely used for weight loss and management.
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Recent Developments:
In February 2024, Herblife announced the launch of the Herbelife GLP-1 Nutrition Companion to meet the nutritional needs of people taking GLP-1 and other weight-loss medicine.
In May 2023, Roquette, invited the health and nutrition market to explore a more versatile, stable, and consumer-focused future for probiotics supplements with the introduction of PEARLITOL.
Key Market Takeaways:
The wellness supplements market size was valued at US$ 270.10 billion in 2023 and is anticipated to witness a CAGR of 7.7% during the forecast period 2024-2031. Growth of the market is attributed to rising health issues such as digestive disorders, cardiovascular diseases and diabetes prompting consumers to incorporate dietary supplements in their daily routines.
On the basis of supplement type, the proteins segment is expected to hold a dominant position over the forecast period, owing to increased consumption of protein supplements among athletes and bodybuilders for muscle gain.
By application, the weight management segment is anticipated to witness highest growth during the forecast period, due to rising obesity rates worldwide driving demand for supplements that aid weight loss.
Based on form, the gummines & softgels segment currently dominates the market due to high convenience and ease of consumption.
Regionally, North America is projected to be the leading regional market over the forecast years due to growing health awareness and increased expenditure on wellness products in the region.
The key players operating in the wellness supplements market include Abbott, Reckitt Benckiser Groups PLC, Hexagonnutrition Ltd., Nestle Danone, Baxter, Fresenius Kabi AG, B. Braun SE, Perrigo Company Plc, Sun Pharmaceuticals Industries Ltd., Centrum, BASF SE, DSM, Zeon Lifescience Ltd., Cipla Inc., and ADM. These players are focusing on new product launches and expansions to strengthen their market position.
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Market Segmentation
By Supplement Type:
- Proteins
- Carbohydrates
- Multi-Vitamins and Antioxidants
- Fibers
- Minerals
- Others
By Application:
- Inflammatory Bowel Diseases
- Metabolic Diseases
- Weight Management
- Women's Health
- Allergic Disorders
- Immune Health
- Others
By Form:
- Gummies & Softgels
- Capsules & Tablets
- Powder Form
- Liquid Form
- Others
By Distribution Channel:
- Online
- Company Websites
- Third Party Aggregators
- Offline
- Hypermarkets/Supermarkets
- Specialty Stores
- Drug & Pharmacy Stores
- Others
By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
Browse More Insights:
• Global Workout Supplements Market: Global Workout Supplement Market size is expected to reach US$ 36.38 Bn by 2030, from US$ 17.61 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 10.9% during the forecast period.
• Global Bodybuilding Supplements Market: The global Bodybuilding supplements market size is expected to reach US$ 38.12 Bn by 2030, from US$ 22.31 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 7.9% during the forecast period.
• Prebiotics for Dietary Supplements Market: Global prebiotics for dietary supplements market is estimated to be valued at US$ 2,205.9 million in 2022, and is expected to exhibit a CAGR of 10.2% over the forecast period (2022-2030).
• DHA Supplements Market: The global DHA supplements market is estimated to be valued at US$ 1,385.8 million in 2021 and is expected to exhibit a CAGR of 7.0% during the forecast period (2021-2028).
About Us:
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