Press release
Nutritional Supplements Market Insights 2024-2033: Trends, Outlook, Demand, and Market Overview
Nutritional Supplements Market
The Business Research Company presents an extensive market research report on the Nutritional Supplements Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The nutritional supplements market size has grown strongly in recent years. It will grow from $390.7 billion in 2023 to $419.71 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to aging population, changing lifestyles, sports and fitness trends, e-commerce growth, rise of veganism.
The nutritional supplements market size is expected to see strong growth in the next few years. It will grow to $569.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to personalized nutrition, growing interest in genetic testing, smart packaging, epidemic preparedness, sustainability focus. Major trends in the forecast period include CB*D and hemp-based supplements, plant-based proteins, mental well-being supplements, collagen supplements, brain health supplements.
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Key Market Players:
Major companies operating in the nutritional supplements market report are The Archer-Daniels-Midland Company, Pfizer Inc., Bayer AG, Abbott Laboratories, GlaxoSmithKline plc, Otsuka Pharmaceutical Co Ltd., DuPont de Nemours Inc., Koninklijke DSM NV, Amway Corporation, Nutrilite Products Inc., Nestlé Health Science SA, Glanbia plc, Herbalife Nutrition Ltd., Carlyle Group Inc., The Carlyle Group Inc., Stepan Company, GNC Holdings Inc., Nu Skin Enterprises Inc., USANA Health Sciences Inc., Arkopharma Laboratories Company Limited, Iovate Health Sciences International Inc., Now Health Group Inc., Xango LLC, Garden of Life LLC, Pharmavite LLC, Nature's Bounty Co, Herb Pharm LLC, American Health Formulations Inc., Ayanda GmbH, BioTech USA, Himalaya Global Holdings, The Biomedical Research & Longevity Society, MegaFoods Products Madras Private Limited, MusclePharm Corporation, SmartyPants Vitamins Inc., Thorne Research Inc., Vitabiotics Ltd., Vitacost.com Inc.
Market Drivers:
The increasing prevalence of non-communicable diseases is driving demand for the nutritional supplement market. Non-communicable diseases refer to a group of medical conditions that are usually not caused by an acute infection. These health consequences typically require long-term treatment and care. Noncommunicable diseases such as diabetes can be managed by several supplements, including alpha-lipoic acid supplementation to address diabetic complications. For instance, in December 2021, according to the statistics published by the International Diabetes Federation, a Belgium-based, non-profit diabetes association, 537 million adults (20-79 years) were recorded as living with diabetes, and 6.7 million people died of diabetes in 2021. However, by 2030, it is anticipated that there will be 643 million people worldwide with diabetes. Therefore, the increasing prevalence of non-communicable diseases will drive the growth of the nutritional supplement market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/nutritional-supplements-global-market-report
The nutritional supplements market covered in this report is segmented -
1) By Type: Vegan Sport Nutrition, Meal Replacement Shakes, Food Supplements, Other Types
2) By Formulation: Tablets, Capsules, Powder, Soft gels, Liquid, Other Formulations
3) By Ingredient : Botanicals, Vitamins, Minerals, Proteins & Amino Acids, Fish Oils, Fibers & Specialty Carbohydrates, Enzymes, Other Ingredients
4) By Distribution Channel: Supermarket/Hypermarket, Retail Pharmacies, Direct Selling, Drug Stores, E-Commerce
5) By End User: Infant, Children, Adults, Pregnant Women, Elderly
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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