Nutritional Supplements Market Size, Competition Analysis, Growth Trends, and Share Analysis By 2024-2031 | Abbott Laboratories, Archer Daniels Midland (ADM)

The Nutritional Supplements Market is estimated for strong growth during 2024-2031 as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Nutritional supplements include vitamins, minerals, botanicals, fatty acids, and other ingredients that are added to the diet to enhance health. They are available as pills, capsules, powders, gel tabs and liquids.

Market Dynamics:

The nutritional supplements market is expected to exhibit significant growth over the forecast period owing to increasing consumer health consciousness and rising disposable incomes. Additionally, changing lifestyles along with growing geriatric population are also favoring the market growth. According to United Nations, between 2020 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. Supplements are widely adopted by the aging population to meet their nutritional needs. Furthermore, growing awareness about preventive healthcare and benefits of maintaining healthy diet are further propelling the demand for nutritional supplements.

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Top Key Players are Covered in this Report:

★ 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

Market Segmentation:

★ By Ingredient: Vitamin, Protein, Fatty Acids, Botanical, Minerals, Others
★ By Form: Capsule, Powder, Tablet, Liquid, Others
★ By Product Type: Dietary Supplements., Sports Supplements, Beauty Supplements, Others
★ By Distribution Channel: Hypermarkets/Supermarkets, Pharmacy Stores, Online Channels, Others

Key Region/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Nutritional Supplements Market Drivers, Restrains, Opportunities and Trends

1. Increasing Demand for Dietary Supplements due to Changing Lifestyle and Eating Habits

With the changing lifestyle and increasing workload, people are relying more on packaged and ready to eat foods which lacks essential nutrition. This has increased the risks of malnutrition and deficiency related diseases. Moreover, Urbanization and nuclear family system has disrupted the traditional joint family system where elderly used to take care of nutrition in families. All these factors have increased the demand for dietary supplements as a preventive healthcare measure to fulfill the gaps in daily nutritional intake.

2. Rising Health Consciousness and Focus on Preventive Healthcare

In today's time people are more conscious about their health and wants to stay fit. They understand the importance of having balanced nutrition for overall wellbeing. Also, with rising incomes people are willing to spend more on their health and fitness. This increased focus on preventive healthcare through balanced diet and supplementation is fueling the growth of nutritional supplements market globally.

3. Stringent Government Regulations on product formulation and approval process

Nutritional supplement products are categorized under food products in many markets and hence have to comply with stringent norms for new product approval and formulation regulations. Any non-compliance may lead to product withdrawal, fines or even lawsuits. This increases the compliance cost and lengthy approval process acts as a major restrain for the market particularly for new and small players. Getting regulatory approvals is a long drawn process thus delaying the time to market for new products.

4. E-commerce Platforms Opening New Sales Channels

With the rapid growth of e-commerce across regions, new sales channels have opened up for nutritional supplement brands. This provides an opportunity to reach wider customer base beyond physical stores. Moreover, e-commerce platforms help brands to market customized products for different target segments, bundle offers and supplement customization. The personalized shopping experience on digital platforms is attracting more customers especially millennials and working professionals who actively shop online.

5. Increased Adoption of Clean Label and Organic Products

Consumers today are more inclined towards organic, vegan, non-GMO and clean label products owing to rising health awareness. They want transparency in ingredients and production process. This has propelled nutritional supplement makers to offer clean label products using organic and naturally sourced ingredients without artificial preservatives. This preference for clean label products without unnecessary chemicals is a major trend in nutritional supplement industry globally. Companies fulfilling these consumer demands through product innovation will have competitive edge.

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The report answers a number of crucial questions, including:

➥ Which companies dominate the global Nutritional Supplements market?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the Nutritional Supplements market economy globally?

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Nutritional Supplements Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.