USD 358.8 billion
Nutritional Supplements Market Size, Share, Growth Analysis, By Form(Powder, tablets, capsules, liquid), By Distribution channel(Online, Offline), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2320 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
65
|Figures:
75
Nutritional Supplements Market Insights
Nutritional Supplements Market size was valued at USD 381.40 billion in 2022 and is poised to grow from USD 405.43 billion in 2023 to USD 660.96 billion by 2031, at a CAGR of 6.3% during the forecast period (2024-2031).
The global market for immunity-boosting supplements and dietary supplements has witnessed significant growth due to the increasing demand for such products. The COVID-19 pandemic, which affected a large number of people worldwide, heightened the need for immune support and overall health.
The sales of immunity-boosting supplements and dietary supplements saw a substantial increase during this time. The rising prevalence of diseases like diabetes, obesity, and cardiovascular diseases has also driven the demand for nutritional supplementation as people focus on maintaining a healthy lifestyle.
Governments in developing nations have taken initiatives to address malnutrition and improve the health conditions of their populations, further contributing to market growth. The accessibility of dietary supplements has been enhanced through online platforms and retail channels, making it easier for consumers to purchase these products.
The growth of e-commerce platforms has played a significant role in expanding the market, providing better product visibility and reaching a wider range of consumers across different age groups and socio-economic backgrounds.
Furthermore, there is a growing trend towards plant-based foods and superfoods, as well as innovative product formats such as gummies and dissolvable tablets. Companies in the nutritional supplement industry are focusing on developing new products that are not only effective but also enjoyable to consume.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Supermarkets/hypermarkets
Fastest Growth
Supermarkets/hypermarkets
Growth Rate
6.3% CAGR
Global Nutritional Supplements Market by region
Country Share for North America (%)
To get more reports on the above market click here to Buy The Report
Nutritional Supplements Market Segmental Analysis
The global market for nutritional supplements is categorized by form, distribution channel, and region. Based on form, the market is segmented into powder, tablets, capsules, liquid, soft gels, and others. Based on distribution channel, the market is segmented into Online and Offline. Geographically, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Analysis By Form
The largest segment in the global market for nutritional supplements by form is typically the tablets and capsules segment. These forms are popular among consumers due to their convenience, ease of consumption, and longer shelf life.
The fastest-growing segment in the global market for nutritional supplements is softgel capsules as they have gained popularity due to their advantages over traditional tablets and capsules. Gummy supplements have experienced significant growth, particularly in the vitamins and minerals category. They appeal to consumers, especially children and those who have difficulty swallowing pills. Gummies often come in various flavors, shapes, and colors, making them more enjoyable to consume.
Analysis By Product
Vitamins remain the largest product type in the nutritional supplement market. They are widely consumed to fill nutritional gaps and promote overall well-being. With rising health consciousness and increased awareness of vitamin deficiencies, this segment continues to dominate the market.
The demand for mineral supplements is increasing due to factors like inadequate mineral intake from diets and a growing aging population seeking to support bone health and combat deficiencies.
The herbal supplements segment is experiencing remarkable growth owing to the rising trend of natural and organic products. Consumers are seeking herbal alternatives for various health concerns, including immune support, cognitive health, and stress management. Additionally, the use of traditional herbs from Ayurveda and Chinese medicine has gained popularity, further driving this segment's expansion.
Global Nutritional Supplements Market by distribution channel
To get detailed analysis on other segments, Request For Free Sample Report
Nutritional Supplements Market Regional Insights
The largest market for nutritional supplements is currently North America. The region's dominance can be attributed to factors such as the increasing health consciousness among consumers, a well-established healthcare infrastructure, and a rising aging population seeking preventive healthcare solutions. The United States is a major contributor to this market due to its large consumer base and strong demand for dietary supplements.
In terms of the fastest-growing region, Asia Pacific is witnessing rapid expansion in the nutritional supplements market. The region's growing population, rising disposable incomes, and increasing awareness about the benefits of dietary supplements are driving the market growth. Countries like China and India are leading the way, as they have seen a surge in middle-class consumers who are willing to spend on health and wellness products.
Global Nutritional Supplements Market by geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Nutritional Supplements Market Dynamics
Drivers
Rise in Awareness about Healthy Lifestyle
- The global market is witnessing growth due to the rising awareness among consumers regarding preventive healthcare and the demand for health-enhancing products such as food additives. The market is further driven by continuous innovation from both established and emerging players. For example, The GHT companies introduced a new line of vegan nutritives in response to the growing demand for plant-based products that support weight management. This focus on developing animal-free alternatives reflects the industry's commitment to meeting evolving consumer preferences.
Restraints
Limited Availability and Alternatives
- The growth of the dietary supplements market may be hindered by factors such as the increasing prices of regular supplements and the high cost of pre immunized supplements. Additionally, the limited availability of organic supplements and consumer preference for organic products could pose challenges to market expansion. However, supplement manufacturers are actively pursuing technological advancements to reduce production costs and make products more affordable for consumers. These efforts aim to overcome the barriers and ensure wider accessibility of dietary supplements in the market.
Request Free Customization of this report to help us to meet your business objectives.
Nutritional Supplements Market Competitive Landscape
The nutritional supplements market is highly competitive, characterized by a multitude of players striving for market share and growth. The landscape is dominated by both established pharmaceutical and healthcare companies, as well as emerging startups and niche players. These companies employ various strategies to maintain their competitive edge, such as extensive product portfolios, strong distribution networks, aggressive marketing campaigns, and continuous research and development efforts. They focus on product innovation, leveraging scientific advancements and consumer trends to develop new formulations and address specific health concerns.
Top Player’s Company Profiles
- Abbott Laboratories (United States)
- Glanbia plc (Ireland)
- GNC Holdings Inc. (United States)
- Nu Skin Enterprises Inc. (United States)
- NBTY Inc. (United States)
- Nature's Bounty Co. (United States)
- Bayer AG (Germany)
- USANA Health Sciences Inc. (United States)
- GlaxoSmithKline plc (United Kingdom)
- Nestlé S.A. (Switzerland)
- Archer Daniels Midland Company (United States)
- Danone S.A. (France)
- Forever Living Products International Inc. (United States)
- DSM Nutritional Products (Netherlands)
- Otsuka Holdings Co., Ltd. (Japan)
- The Nature's Way Co. (United States)
- Church & Dwight Co. Inc. (United States)
Recent Developments
- In April 2021, Persona Nutrition, a prominent personalized vitamin program, announced the launch of the globe’s first daily gummy vitamin packs for the whole family. These vitamin packs are designed to address various health goals, including relaxation, immune health, skin health, focus enhancement, and everyday health support.
Nutritional Supplements Key Market Trends
- There is a rising trend of personalized nutrition, with consumers seeking customized supplements based on their individual health goals and genetic makeup. This has led to the emergence of DNA-based testing and tailored supplement formulations. Another significant trend is the growing preference for natural and organic supplements, as consumers prioritize clean labels and sustainable sourcing. Plant-based and vegan supplements are also gaining popularity. Furthermore, online retail platforms are playing a crucial role in the market, offering convenience and accessibility to a wide range of nutritional supplements. Overall, these market trends reflect the evolving consumer preferences and the increasing importance placed on health and wellness today.
Nutritional Supplements Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global nutritional supplements market is expected to witness promising growth prospects in the coming years. Manufacturers are continuously innovating and diversifying supplement formats to cater to different consumer preferences. Beyond traditional pills and capsules, supplements are now available in various forms such as gummies, powders, liquids, and effervescent tablets. These novel formats appeal to a broader audience, including those who have difficulty swallowing pills.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 381.40 billion |
| Market size value in 2031 | USD 660.96 billion |
| Growth Rate | 6.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Nutritional Supplements Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Nutritional Supplements Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Nutritional Supplements Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Nutritional Supplements Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Nutritional Supplements Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Nutritional Supplements Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
