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Nutritional supplements Market in Demand: Sentiment is Shifting Towards Growth

Nutritional supplements

Nutritional supplements

The global nutritional supplements market was valued at 248.1 million in 2018 and is expected to exhibit a CAGR of 6.9% in terms of value over the forecast period (2019 – 2027), and is expected to reach 436.1 million by 2027.

Nutritional supplements consist of vitamins, minerals, proteins, and other necessary ingredients. Health benefits associated with consumption of nutritional supplements are reduction in signs of aging and improved cardiovascular health, among others. Increasing awareness about health benefits of nutritional supplements is driving growth of the global nutritional supplement market. Nutritional supplements are used in order to treat nutritional deficiency in the human body.

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North America has witnessed second largest market of the nutritional supplements market in 2018. U.S. is expected to be the major market in this region over the forecast period. This growth is attributed to increasing use of dietary supplements owing to rising awareness regarding health benefits of consumption of these supplements as it provides nutrients such as minerals and vitamins. According to U.S. Pharmacopeia Convection, in 2016, the dietary supplements are used by 80% of adults in the U.S.

Based on product type, the sport supplement segment held significant market share in the global nutritional supplement market as key players are adopting strategies such as partnerships & collaborations to expand their presence in the sports supplements segment. For instance, in March 2018, Fonterra, a dairy nutrition company, partnered with a startup, Foodspring, which is into active nutrition, by investing in its parent company, Goodminton AG.

Major players in the global nutritional supplements market include 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, and GlaxoSmithKline.

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