Nutritional Supplements Market Size Will Expand USD 688.9 BN by 2032
Nutritional supplements market size is anticipated to grow from USD 360.2 Billion to USD 688.9 Billion in 10 years. Growing awareness of global health issues has greatly accelerated market expansion. Asia Pacific region led the market in 2022 with the largest market share of 35.6%.
Newark, Oct. 23, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 360.2 Billion in 2022 nutritional supplements market will reach USD 688.9 Billion by 2032. The repercussions of leading an unhealthy lifestyle are becoming more widely recognised than they were prior to the pandemic. The increased prevalence of non-communicable diseases, or NCDs, has increased the use of dietary supplements to enhance overall health. The WHO estimates that NCDs result in 41 million deaths yearly, and during the epidemic, the market for supplements that improve immunity grew. People’s general health and well-being have become of utmost importance.
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Report Coverage Details
|Market Size in 2022||USD 360.2 Billion|
|Market Size in 2032||USD 688.9 Billion|
|No. of Pages in Report||236|
|Segments Covered||Product, Formulation, Consumer Group, Distribution Channel|
|Drivers||Rising focus on wellness and good health|
|Opportunities||To serve this expanding market, specialist sports nutrition solutions can be created|
|Restraints||lack of consistent rules|
Key Insight of the Nutritional Supplements Market
Asia Pacific emerged as the most significant market, with 35.6% market revenue share in 2022.
Asia Pacific dominated the market, with a market share of around 35.6% in 2022. The sector has grown in this area due to the region’s capacity to create functional meals, the accessibility of raw materials, and the general public’s high degree of awareness about the benefits of nutritional supplements.
The functional foods & beverages segment accounted for the largest market share of 56.1% in 2022.
The functional foods & beverages segment dominated the market, with a market share of around 56.1% in 2022. Functional foods and beverages are designed to provide certain health benefits or to treat specific medical conditions.
The powder segment accounted for the largest market share of 35.4% in 2022.
The powder segment dominated the market, with a market share of around 35.4% in 2022. Powder formulations have taken over the market, replacing soft chews and soft gels as the favoured option.
The adult segment accounted for the largest market share of 24.8% in 2022.
The adult segment dominated the market, with a market share of around 24.8% in 2022. The majority of nutritional supplement users are adults, and they are increasingly realising the need of maintaining good health.
The supermarkets/hypermarkets segment accounted for the largest market share of 42.3% in 2022.
The supermarkets/hypermarkets segment dominated the market, with a market share of around 42.3% in 2022. Supermarkets and hypermarkets let customers buy a range of nutritional supplements from various suppliers simply in one place.
Driver: Rising focus on wellness and good health
The emphasis on wellness and excellent health is growing on a global scale. Consumers are actively engaged in preserving their health and seeking out ways to improve their overall wellbeing. Supplemental nutrition is seen to be an approachable and useful way to promote and enhance health. Modern life is often characterised by hectic schedules, little time for food preparation, and a growing reliance on prepared or fast food. Supplemental nutrition is a practical means of making up for nutritional inadequacies and giving people access to essential nutrients that may be absent from regular meals.
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Some of the major players operating in the nutritional supplements market are:
• TheHut.com Ltd.
• Science in Sports
• Glanbia plc
• Cliff Bar & Company
• Cardiff Sports Nutrition Ltd
• Abbott Nutrition
• Herbalife International of America, Inc.
Key Segments cover in the market:
• Sports Nutrition
• Fat Burners
• Dietary Supplements
• Functional Food & Beverages
• Soft gels
By Consumer Group:
By Distribution Channel:
• Specialty Stores
• Asia Pacific (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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