Newark, Sept. 13, 2024 (GLOBE NEWSWIRE) -- The global nutritional supplements market is experiencing rapid growth, driven by increasing health awareness and lifestyle changes. Consumers are more focused than ever on wellness, which has led to a surge in demand for vitamins, minerals, and other dietary supplements. The global nutritional supplements market was valued at USD 378.84 billion in 2023 and is projected to grow at a CAGR of 7.01% from 2024 to 2033, reaching USD 745.94 billion by 2033. The market's growth is largely driven by increasing global health awareness, as more people become conscious of the impact of an unhealthy lifestyle, particularly in the wake of the pandemic.
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The rising prevalence of non-communicable diseases (NCDs) has further fueled the demand for nutritional supplements aimed at improving overall health. According to the WHO, NCDs account for 41 million deaths annually, and the demand for immunity-boosting supplements saw a significant rise during the pandemic. As a result, the focus on general health and well-being has become a top priority for many.
Leading companies in the industry include Nordic Nutraceuticals, The Healing Company Ltd., Sheng Chang Pharmaceutical Company, Herb Pharm, Columbia Nutritional, John Schumacher Unity Woods Yoga Centre, AYUSH Ayurvedic Pte Ltd., Ramamani Iyengar Memorial Yoga Institute, Pure Encapsulations, LLC.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 7.01% |
| Market Size in 2023 | USD 378.84 billion |
| Market Size in 2033 | USD 745.94 billion |
| Historical Data | 2020-2022 |
| No. of Pages | 236 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Product, Formulation, Consumer Group, Distribution Channel |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Nutritional Supplements Market Growth Drivers | Global awareness of and focus on wellness and good health is rising |
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Market Dynamics
Drivers:
Global awareness and focus on wellness and good health are increasing, with consumers actively seeking ways to enhance their overall well-being. Nutritional supplements are seen as a convenient and accessible method to support and improve health, especially in modern lifestyles characterized by stressful schedules, limited time for meal preparation, and reliance on processed or quick meals. These supplements help fill nutritional gaps and provide essential nutrients that may be lacking in regular diets.
Restraints:
The regulatory environment for dietary supplements varies across countries, with some regions having less stringent regulations than those for prescription drugs. This can lead to inconsistencies in quality control, manufacturing standards, and product safety. The lack of uniform regulations may also raise concerns about product efficacy, misleading advertising, and potential risks associated with certain ingredients.
Opportunities:
The demand for natural and organic alternatives is growing across various consumer products, including nutritional supplements. Consumers are increasingly seeking supplements free from chemical additives, made from organic or natural ingredients, and produced sustainably. Manufacturers can capitalize on this trend by offering healthier and environmentally sustainable supplement options. Additionally, the rising popularity of fitness and sports activities is driving the growth of the sports nutrition market. Athletes, fitness enthusiasts, and individuals looking to improve physical performance are seeking supplements that enhance energy, endurance, muscle recovery, and overall fitness. Specialized sports nutrition products can be developed to cater to this expanding market.
Market Segmentation
by Product:
• Sports Nutrition
• Fat Burners
• Dietary Supplements
• Functional Food & Beverages
by Formulation:
• Tablets
• Capsules
• Powder
• Soft gels
• Liquid
• Others
by Consumer Group:
• Infants
• Children
• Adults
• Pregnant
• Geriatric
by Distribution Channel:
• Supermarkets/Hypermarkets
• Specialty Stores
• Online
• Others
In addition, the convenience of e-commerce platforms and the expansion of personalized nutrition have further boosted market opportunities. Popular products include protein supplements, omega-3 fatty acids, and multivitamins, which cater to a broad range of consumer needs—from general wellness to specific health goals.
As more people prioritize health, the nutritional supplements market shows no signs of slowing down, with innovations and new product launches continually shaping its future.
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