Press release
Nutritional Supplements Global Market Report 2024 - By Size, Share, Trends, Growth, Forecast To 2033
Nutritional Supplements
The Business Research Company offers in-depth market insights through Nutritional Supplements Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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 and hemp-based supplements, plant-based proteins, mental well-being supplements, collagen supplements, brain health supplements.
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Market Segmentation:
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
Major Driver - Nutritional Supplement Market Growth Fueled By Rising Non-Communicable Diseases
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.
Competitive Landscape:
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.
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Top Trend - Pioneering Plant Protein Powder By Tata Consumer Products
Major companies in the nutritional supplement market are focusing on product launches, such as plant protein powder, a dietary supplement* derived from various plant sources that provides a concentrated and convenient form of plant-based proteins. For instance, in September 2022, Tata Consumer Products, an India-based fast-moving consumer goods company, launched GoFit plant protein powder, boasting a plant-based composition to meet the rising demand for plant-centric supplements and emphasizing health and wellness in alignment with contemporary preferences for products supporting a healthy lifestyle. The product strategically aids Tata Consumer Products in market diversification, tapping into the growing demand for high-quality, plant-based nutritional supplements, and reinforces its position as an innovative player meeting evolving consumer needs.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Nutritional Supplements Market Characteristics
3. Nutritional Supplements Market Trends And Strategies
4. Nutritional Supplements Market - Macro Economic Scenario
5. Nutritional Supplements Market Size And Growth
…..
27. Nutritional Supplements Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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