Press release
Wellness Supplements Market 2024-2033: Future Outlook, Industry Share, Global Trends And Key Players Analysis
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033The Business Research Company offers in-depth market insights through Wellness 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 wellness supplements market size has grown strongly in recent years. It will grow from $281.57 billion in 2023 to $303.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to growing health awareness, aging population demographics, shift towards preventive healthcare, expansion of retail channels, influence of holistic health practices.
The wellness supplements market size is expected to see strong growth in the next few years. It will grow to $417.87 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to elevated focus on immune health, digital health and e-commerce growth, personalization and customization trends, rising demand for plant-based supplements. Major trends in the forecast period include regulatory compliance and transparency, global expansion and market penetration, collaborations with healthcare professionals, rise of clean label products.
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Market Segmentation:
The wellness supplements market covered in this report is segmented -
1) By Product Type: Dietary Supplements, Vitamin, Mineral, Protein, Herbal
2) By Functional Food and Beverages : Omega Fatty Acids Fortified Food, Probiotic Fortified Food, Branded Iodinated Salt, Branded Wheat Flour, Energy Drinks, Sports Drinks
3) By Application: Home Care, Hospital, Chemical
Major Driver - Driving Growth In The Wellness Supplements Market Through Healthy Lifestyles
An increasing focus on healthy lifestyles is expected to propel the growth of the wellness supplements market going forward. A healthy lifestyle keeps an individual energetic and reduces the risk for disease. Exercising, good nutrition, adequate sleep, and the intake of wellness supplements are the foundations of healthy living, which encourages people to incorporate health-improving supplement items into their daily lives. For instance, according to Economic Times, an India-based, business-focused daily newspaper, the number of health-conscious consumers in India would increase from 108 million in the calendar year 2020 to 176 million in 2026. Therefore, increasing focus on healthy lifestyles is driving the wellness supplements market growth.
Competitive Landscape:
Major companies operating in the wellness supplements market report are Archer Daniels Midland Company, Pfizer Inc., Nestle SA, Bayer AG, Abbott Laboratories, Suntory Holdings Ltd., Otsuka Pharmaceutical Co Ltd., Haleon plc, Amway Corporation, Glanbia plc, Herbalife Nutrition Ltd., The Bountiful Company, GNC Holdings Inc., USANA Health Sciences Inc., Shaklee Corporation, Jamieson Intermediate Holdings Ltd., New Chapter Inc., Pukka Herbs Ltd., Gaia Herbs Inc., MegaFood LLC, Traditional Medicinals Inc., Olly Nutrition, Herb Pharm LLC, Herbaland Naturals Inc., Ritual Foods Pvt Ltd., Fungi Perfecti LLC, Banyan Botanicals Corp, Herbalist & Alchemist Inc., Garden of Life LLC
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https://www.thebusinessresearchcompany.com/report/wellness-supplements-global-market-report
Top Trend - Better Product With Added Vitamin And Supplements Products In Wellness Supplements
Major companies in the wellness supplements market are focusing on developing supplements and vitamins, to improve the health and wellness of customers, aligning with the growing demand for wellness supplements. For instance, in April 2023, Cura360, a US-based company aiming to make healthcare and wellness products and services more accessible and affordable, launched Wellness Supplements and Vitamins Products. This launch is characterized by a focus on holistic well-being, marked by partnerships with renowned manufacturers, a volume discount plan, and a commitment to accessibility and affordability, addressing the increasing demand for wellness products in line with key market drivers such as rising awareness, a growing aging population, and a heightened emphasis on healthy lifestyles.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Wellness Supplements Market Characteristics
3. Wellness Supplements Market Trends And Strategies
4. Wellness Supplements Market - Macro Economic Scenario
5. Wellness Supplements Market Size And Growth
…..
27. Wellness Supplements Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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