Global Nutritional Supplements Market Size, Share, Demand Analysis 2031

(MENAFN- Straits Research) Introduction

Nutritional supplements are specially designed products meant to enhance the diet and provide necessary nutrients that may be lacking or insufficient in a person's regular diet. These supplements are specifically formulated to augment the usual food intake and improve overall health, well-being, performance, or the prevention and treatment of specific ailments. Diverse types of nutritional supplements are accessible, including pills, capsules, tablets, powders, and liquids. These products typically consist of vitamins, minerals, amino acids, herbs, or other dietary components intended to enhance the nutritional content of one's diet.

Market Dynamics Rising Prevalence of Chronic Diseases and Nutritional Deficiencies Drives the Global Market

The rising incidence and effects of chronic diseases, such as cardiovascular diseases, diabetes, obesity, cancer, and other problems, pose a substantial barrier to the global healthcare system and economy. According to the World Health Organization (WHO), chronic diseases result in the annual demise of 17 million adults below the age of 70. Nutritional supplements can help prevent or manage many diseases by providing essential nutrients, antioxidants, anti-inflammatory chemicals, and other beneficial components that can modulate risk factors and improve results.

Moreover, there is a prevalent prevalence of dietary insufficiencies, such as iron, iodine, vitamin A, and others, specifically in low- and middle-income countries. These shortcomings substantially influence the well-being and progress of millions of individuals. A survey published in NLM reveals that about 2 billion people globally suffer from iodine deficiency (ID), and approximately 50 million display clinical symptoms. Nutritional supplements can efficiently correct these deficiencies and improve the affected individuals' nutritional status and overall well-being. Hence, these factors drive the global market.

New Product Launches Create Tremendous Opportunities

In recent years, prominent companies have escalated the launch of novel dietary supplements on the market, motivated by a rising inclination towards preventive healthcare. For instance, in October 2022, Bayer's consumer health division introduced Supradyn Immuno+, a daily supplement designed to enhance the body's immune system. This addition broadens the spectrum of multivitamin supplements offered by the Supradyn brand. These supplements possess qualities that improve both daily and long-term immune function.

Moreover, in October 2023, Ancient Nutrition, a well-known company in the field of health and wellness, introduced the world's first nutritional supplement formulas that have received triple certification. This collection comprises 16 probiotics and herbal functional mushroom items, all of which have received the esteemed Regenerative Organic Certified® (ROCTM), USDA Organic, and Non-GMO certifications. Ancient Nutrition strives to serve as a model for other companies to emulate, offering consumers a choice that supports a larger movement of products that go beyond organic. Consequently, these launches are anticipated to create lucrative market expansion opportunities.

Regional Analysis

Asia-Pacific is the most significant global nutritional supplements market shareholder and is expected to expand substantially during the forecast period. This can be attributed to surging disposable income, urbanization, increased health consciousness, and rising demand for natural and herbal products. The market participants are also actively involved in strategic activities to enhance their market domination. In September 2022, Centrum debuted in India through Haleon, formerly known as GlaxoSmithKline Consumer Healthcare. The company has introduced the Centrum Multivitamin range in India, acknowledging the varied nutritional needs based on gender and age. The series has four different types of multivitamins: Centrum Women, Centrum Men, Centrum Adults 50+, and Centrum Kids.

Furthermore, in December 2023, Vitals Brand Co., Ltd launched a new e-commerce site that combines high-quality nutritional supplements to cater to the needs of the contemporary generation and health-conscious clientele. The website aims to establish itself as the foremost destination in Thailand for supplements. The tagline, "Live life to the fullest with Vitals," encourages folks to embrace a vibrant and health-conscious way of living. Such factors propel regional market growth.

Key Highlights

• The global nutritional supplements market size was valued at USD 25 billion in 2022. It is estimated to reach USD 612.92 billion by 2031, growing at a CAGR of 6.05% during the forecast period (2023–2031).
• Based on product type, the global nutritional supplements market is bifurcated into sports nutrition, dietary supplements, functional food, fat burner, and others. The functional food segment dominates the market during the forecast period.
• Based on form, the global nutritional supplements market is segmented into powder, tablets, capsules, liquid, soft gels, and others. The powder segment is the most significant contributor to the market.
• Based on consumer groups, the global nutritional supplements market is bifurcated into infants, children, adults, pregnant, and geriatric. The adult segment owns the highest market share.
• Based on the distribution channel, the global nutritional supplements market is bifurcated into brick-and-mortar and e-commerce. The brick-and-mortar segment contributed to the largest market share.
• Asia-Pacific is the most significant global nutritional supplements market shareholder and is expected to expand substantially during the forecast period.

Competitive Players

Glanbia PLC

Abbott

Nestlé Health Science

PepsiCo

Herbalife

International of America, Inc.

Clif Bar & Company

Science in Sport plc

THG PLC

Amway Corp.

CSN

Recent Developments

Market News

• In January 2024, Shaklee, a prominent company in the health and wellness industry, introduced a novel range of supplements specifically formulated to address various health and wellness issues prevalent in today's society. These supplements target concerns such as stress, mood, energy, sleep, gut health, hair, skin and nails, healthy aging, and women's health.
• In September 2023, Dnine Sports introduced a collection of products specifically tailored to cater to the distinct requirements of athletes, especially those who play cricket at a professional level. The company has introduced nutrition supplements, such as whey protein, all of which have undergone thorough testing by FSSAI, ISO, and GMP.

Segmentation

By Product Type

• Sports Nutrition
• Dietary Supplements
• Fat Burner
• Functional Food
• Others

By Forms

• Powder
• Tablets
• Capsules
• Liquid
• Soft Gels
• Others

By Consumer Group

• Infants
• Children
• Adults
• Pregnant
• Geriatric

By Distribution Channel

• Brick and Mortar
• E-commerce

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

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