The Nutritional Supplements Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Nutritional Supplements Global Market Report 2024, 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 CBD and hemp-based supplements, plant-based proteins, mental well-being supplements, collagen supplements, brain health supplements.
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.
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The nutritional supplements market covered in this report is segmented –
1) Nutritional Supplements Market By Type: Vegan Sport Nutrition, Meal Replacement Shakes, Food Supplements, Other Types
2) Nutritional Supplements Market By Formulation: Tablets, Capsules, Powder, Soft gels, Liquid, Other Formulations
3) Nutritional Supplements Market By Ingredient : Botanicals, Vitamins, Minerals, Proteins & Amino Acids, Fish Oils, Fibers & Specialty Carbohydrates, Enzymes, Other Ingredients
4) Nutritional Supplements Market By Distribution Channel: Supermarket/Hypermarket, Retail Pharmacies, Direct Selling, Drug Stores, E-Commerce
5) Nutritional Supplements Market By End User: Infant, Children, Adults, Pregnant Women, Elderly
Top Major Players
The Archer-Daniels-Midland Company
Pfizer Inc.
Bayer AG
Abbott Laboratories
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 nutritional supplements market report table of contents includes:
1. Executive Summary
2. Nutritional Supplements Market Characteristics
3. Nutritional Supplements Market Trends And Strategies
4. Nutritional Supplements Market – Macro Economic Scenario
5. Global Nutritional Supplements Market Size and Growth
…..
32. Global Nutritional Supplements Market Competitive Benchmarking
33. Global Nutritional Supplements Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Nutritional Supplements Market
35. Nutritional Supplements Market Future Outlook and Potential Analysis
36. Appendix
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