Nutritional Supplements Market Report
Nutritional Supplements Market by Form (Tablets, Powder, Liquid, Capsules, Soft Gels, and Others), Product Type (Sports Nutrition, Fat Burner, Dietary Supplements, Functional Food, and Others), Age Group (Kids, Adults, and Geriatric), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Pharmacies, E-commerce, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Nutritional Supplements Overview
Nutritional supplements offer vitamins, minerals, and amino acids, to boost the overall well-being. They come in capsules, powders, fluids, and gummies. A nutritional supplement is mostly consumed orally and contains one or more dietary ingredients. Examples of dietary ingredients include vitamins, minerals, herbs, amino acids, and enzymes. Nutritional supplement can contain vitamin or mineral which are added during processing to improve nutritive value and sometimes to provide specific nutrients.
Global Nutritional Supplements Market Analysis
The global nutritional supplements market size was $xx million in 2022 and is predicted to grow with a CAGR of xx%, by generating a revenue of $xx million by 2032.
COVID-19 Impact on Global Nutritional Supplements Market
During the COVID-19 pandemic, as people became more concerned about their immune health, there was a surge in demand for nutritional supplements that claimed to support immune function. Ingredients like vitamins C, D, and zinc, as well as herbal extracts like echinacea and elderberry, saw a significant increase in sales. The pandemic caused disruptions in the global supply chain, leading to challenges in sourcing raw materials, manufacturing, and distribution. Restrictions on international trade, lockdown measures, and reduced workforce availability impacted the production and availability of nutritional supplements.
The emphasis on immune health is persisting in the post-pandemic period as people remain conscious about protecting their well-being. The demand for immune-boosting supplements increased after the pandemic. The shift towards e-commerce channels for nutritional supplement purchases is in boom even after the pandemic. Consumers have become habituated to the convenience of online shopping and prefer the wide range of options and home delivery services provided by e-commerce platforms. The pandemic raised concerns about the quality and safety of nutritional supplements. In the post-pandemic period, there is increased scrutiny on quality control and safety measures within the industry.
Rising Awareness Regarding Health Benefits of Supplements to Drive the Market Growth
The factors driving the market include rising well-being awareness among buyers, driven by the craving for a solid way of life and preventive healthcare. Consumers are seeking ways to support their overall health and address specific nutritional needs. This customization trend, including genetic testing and personalized recommendations, is gaining traction and driving the market. The rising maturing population moreover contributes to the demand for nutritional supplements as more seasoned adults look to address particular well-being needs. Moreover, the growing scope for sports and wellness exercises has driven a surge in demand for supplements among competitors and wellness followers. for original and thriving dietary supplements.
Regulations and Standard Concerns to Restrain the Market Growth
The nutritional supplements industry is subject to various regulations and standards imposed by regulatory authorities. Compliance with these regulations, such as labeling requirements, claims substantiation, and safety assessments, can pose challenges for market players. Strict regulations and evolving guidelines may impact product development, marketing, and market entry, thereby restricting market growth. Adverse events associated with certain nutritional supplements, such as contamination, adulteration, or mislabeling, can significantly impact consumer trust and confidence. Quality control issues and product recalls can tarnish the reputation of companies and lead to decreased consumer demand. Ensuring product safety, quality, and transparency are critical challenges for the industry.
Development of E-commerce Platforms to Drive Excellent Opportunities
There are opportunities for development within the dietary supplement market. Personalized nourishment may be a promising way, advertising customized details custom fitted to the person’s needs and requirements. The quick development of e-commerce and advanced promoting channels creates opportunities for producers to reach a broader buyer base and improve brand image . The increasing demand for natural supplements presents an opportunity for producers to cater to this inclination and offer clean and genuine supplements. Collaborations and organizations with healthcare experts and wellness specialists can extend distribution channels and upgrade brand validity.
Nutritional Supplements Market Share, by Form, 2022
The powdered form supplements sub-segment accounted for the highest share in 2022. Powdered form supplements are easier to digest as compared to liquid and tablet or capsules. They can be mixed with any liquid easily which can be good for quick absorption and digestion. Powdered form supplements are beneficial for individuals with digestive issues or those who have difficulty in swallowing pills. Powders allow for more flexibility in dosing. Users can easily adjust the amount of powder they consume to meet their specific needs. Powdered supplements can be mixed with water, juice, smoothies, or incorporated into recipes like shakes. Some nutrients are available in powder form, so body can easily absorb and utilize the nutrients more effectively. Powdered supplements can be formulated with minimal additives, for those individuals who prefer a more natural product.
Nutritional Supplements Market Share, by Product Type, 2022
The functional food sub-segment accounted for the highest share in 2022. Functional food is foods that contains other components than nutrients that may be beneficial to health. Beyond fulfilling fundamental dietary needs, such as maintaining gut health, functional foods have shown physiological advantages and can lower the risk of chronic illness. Functional foods frequently include bioactive substances in high concentrations. Dietary fiber, omega-3 polyunsaturated fatty acids, carotenoids, and meals combined with probiotics and prebiotics are all components of functional foods, which can help decrease cholesterol levels. Protein, creatine, branched-chain amino acids (BCAAs), and electrolytes are frequently found in these sports supplements for athletes to assist muscle repair, energy generation, and hydration. The best method to prevent vitamin shortages and maintain excellent health is through a balanced diet.
Nutritional Supplements Market Share, by Age Group, 2022
The adults sub-segment accounted for the highest share in 2022. Adults are often more conscious of their health and wellness compared to children and senior adults. Adults may have specific health goals or concerns such as weight management, improving athletic performance, managing stress, or supporting cardiovascular health. Nutritional supplements can be seen in achieving these goals or addressing specific health needs. Adults often have busy and demanding lifestyles, which may lead to dietary gaps due to time constraints. Nutritional supplements can provide a convenient and efficient way to supplement their diet and ensure adequate nutrient intake. Adults have greater autonomy and decision-making power over their own health choices compared to children who may rely on parents. This autonomy allows adults to explore and incorporate nutritional supplements. Nutritional supplement companies often target their marketing efforts towards adults, emphasizing the benefits and relevance of their products in adult life stages. This targeted marketing can influence adult consumers and contribute to their higher usage of nutritional supplements.
Nutritional Supplements Market Share, by Distribution Channel, 2022
The specialty stores sub-segment accounted for the highest share in 2022. Specialty stores such as health food stores or supplement retailers typically hire knowledgeable staff who can provide information about different nutritional supplements. These experts can help customers navigate through the wide range of products available in that particular store. Specialty stores primarily focus on health and wellness products, including nutritional supplements. Which allows them to make availability of high-quality supplements from various brands, so the customers have access to wide range of supplement options. Specialty stores carry niche or specialized nutritional supplements that may not be readily available in other retail shops or platforms. Specialty stores often provide brochures, pamphlets, or seminars, to educate customers about the benefits, usage, and potential interactions of nutritional supplements. This resource helps customers to make better decisions before buying any nutritional supplement.
Nutritional Supplements Market Share, by Region, 2022
The Asia-Pacific nutritional supplements market generated the highest revenue in 2022. Disposable income and spending power have increased due to the substantial middle-class population in this region. Therefore, more people are ready to spend money on their health and on dietary supplements. In the Asia Pacific region, China has the biggest market for vitamins, herbal remedies, minerals, and dietary supplements. The need for nutritional supplements in the APAC region has been driven by an increase in population in countries like Japan, China, and South Korea. There is an increase in need for nutritional supplementation for the adequate nutrient intake as the people prefer processed and convenient foods over the traditional recipes. The region's expertise in functional foods, cheap raw material costs, and high awareness of the health advantages of nutritional supplements have resulted in market expansion.
Competitive Scenario in the Global Nutritional Supplements Market
Science in Sport PLC manufactures and sells sports nutrition products. The company develops and distributes food, nutritional supplements, and beverages formulated to hydrate, energize, recover, and enhance sports performance. Science in Sport plc, founded in 1992 and is headquartered in London. The company's product lines under SiS include energy bars, shots, gels, and powders; hydration gels, tablets, and powders; recovery rebuild powders; athlete health vitamins & supplements. PhD products include diet range protein; smart high, low sugar foods, bars & snacks; life formulated health products; performance powder. SiS supplies more than 330 professional sports teams & associations globally and is Performance Research Partner to the English Football Association. Its major revenue comes from the UK and includes the Rest of Europe, U.S., and the rest of the world.
Some of the leading nutritional supplements market players are Amway, Nestle, Abbott Nutrition, Herbalife International of America, Inc., PepsiCo, Glanbia plc, Cliff Bar & Company, TheHut.com Ltd., Science in Sports, and Cardiff Sports Nutrition Ltd.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, and LAMEA
Segmentation by Form
Segmentation by Product Type
Segmentation by Age Group
Segmentation by Distribution Channel
Key Companies Profiled
Q1. What is the size of the global nutritional supplements market?
A. The size of the global nutritional supplements market was over $xx million in 2022 and is projected to reach $xx million by 2032.
Q2. Which are the major companies in the nutritional supplements market?
A. Amway, Nestle, and Abbott Nutrition are some of the key players in the global nutritional supplements market.
Q3. Which region, among others, possesses greater investment opportunities in the future?
A. Asia-Pacific possesses great investment opportunities for in the future.
Q4. What will be the growth rate of the Asia-Pacific nutritional supplements market?
A. Asia-Pacific nutritional supplements market is anticipated to grow at xx% CAGR during the forecast period.