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Nutritional Supplements Market 2022, Industry Analysis By Product, Consumer Group, Formulation, Sales Channel & Forecasts 2030

Market Overview
The global nutritional supplements market size was valued at USD 295.3 billion in 2019 and is projected to grow at a CAGR of 6.7% during the forecast period 2020-2027. Growing consumer awareness and increasing consumer willingness to spend on nutritional supplements are among the few factors that are anticipated to drive the nutritional supplement market during the forecast period. Rise in geriatric population and increasing prevalence of lifestyle diseases, including obesity and diabetes, further boost demand for nutritional supplement among consumers inclined toward a healthy lifestyle. In addition, rise in disposable income and increase in number of distribution channels for health supplements coupled with improved accessibility further propel market growth.

Increasing consumer awareness about preventive healthcare along with growing self-directed consumers significantly contribute toward the growing demand for nutritional supplements in the market. Emerging local players, growing partnerships & collaborations, and growing adoption of plant-based ingredients as well as traditional remedies are further expected to boost the demand for nutritional supplements in the market. However, ongoing reformations in regulatory framework for nutritional supplements in a number of countries including Brazil, U.S., Australia, and China is one of the key factor limiting market growth. In addition, growing incidence of counterfeiting & misbranding of supplements may hamper growth of this market over the forecast period.

Moreover, brand recognition is one of the essential factors that influences purchase decision of consumers buying any health supplements. The regular users of any health supplement tend to purchase the same brand. Professional athletes relying on supplements and sports drinks are more conscious about product brands than occasional users or lifestyle-focused consumers. Nutritional supplement companies are constantly working with athletes, fitness gurus, and celebrity trainers as a part of their marketing strategies to engage large number of consumers.

Rising health consciousness and consumer interest for active living is another key factor driving demand for nutritional supplements across the globe. Unhealthy diet is one of the leading reasons for increase in the risk of diabetes, cardiovascular diseases, cancer, and obesity. According to International Diabetes Federation, more than 12.5 million cases of diabetes were reported in Brazil in 2017. As per American College of Cardiology, 6.5 million people in the U.S. suffered a heart failure in 2018. According to National Institute of Health, Americans spent around USD 2.1 billion annually on weight loss dietary supplements, usually in pill form. Consumers are increasingly realizing the benefits of these supplements, which is expected to positively affect the market growth.

Segments Covered in the Report-
Product Type (Revenue, USD Million, 2016 – 2027)
• Sports nutrition
o Sports food
§ Protein bars
§ Energy bars
o Sports drinks
§ Isotonic
§ Hypotonic
§ Hypertonic
o Sports supplements
§ Multivitamins
§ Probiotics
§ Omega -3
§ Carbohydrate
§ Protein
§ Vitamins
§ Minerals
§ Amino Acids

For More Insights, Download Sample Copy of Nutritional Supplements Market:

• Fat burners
o Caffeine
o Soluble fiber
o Protein
o Green tea extract

• Dietary Supplements
o Vitamin
o Mineral
o Enzymes
o Amino acids
o Omega -3

• Functional Foods
o Probiotics
o Omega -3
o Others

Consumer Group Type (Revenue, USD Million, 2016 – 2027)
• Infants
• Children
• Adults
• Pregnant
• Geriatric

Formulation Type (Revenue, USD Million, 2016 – 2027)
• Tablets
• Capsules
• Powder
• Liquid
• Softgels
• Others

Distribution Channel Type (Revenue, USD Million, 2016 – 2027)
• Supermarket/Hypermarket
• Retail Pharmacies
• Direct Selling
• Drug Stores
• E-Commerce

Regions covered in global Nutritional Supplements Market report-
• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific
• Middle East & Africa

Product Insights
Based on product, our scope of study has segmented the market into sports nutrition, fat burner, dietary supplements and functional foods. As of 2019, functional foods segment accounted for the largest market share of 58.7% in nutritional supplements market. In addition, rise in demand for nutritional and enriching food additives such as omega 3 fatty acids, vitamins & minerals, fibers and others coupled with rise in consumer awareness related to health and fitness is further expected to propel the segment growth.

However, sports nutrition emerged as the fastest growing segment at a CAGR of 9.2% over the forecast period. Growing number of health & fitness centers and rising consumer interest in sports are anticipated to contribute to the demand for sports nutrition products in the next few years.

Consumer Group Insights
Based on consumer group, nutritional supplements market has been segmented into infants, children, adults, pregnant, and geriatric. In 2019, children segment held the largest share of 28.5% in 2019 and is further expected to grow at fastest rate of 7.5% during 2020-2027 owing to growing prevalence of children suffering from malnutrition coupled with rise in number of product launches for children and infants.

Increasing awareness about the benefits of nutritional & dietary supplements among parents are the key factors contributing to the largest market share of the children age group segment. The supplements targeted for pediatric population help in improving their physical and mental health. Moreover, increase in disposable income is expected to propel the market growth over the forecast period.

Formulation Insights
Based on formulation, nutritional supplements market has been segmented into infants, tablets, powder, capsules, softgels, liquid and others. In 2019, powder segment held the largest share of in 2019 owing to higher preference for nutritional supplements in powder form as compared to softgels and pills due to easy intake across all age groups. Moreover, high commercial availability of nutritional supplements in powder form is another factor likely to aid the segment growth.

However, tablets and pills are the segments anticipated to grow at lucrative CAGRs over the forecast years owing to the fact that tablets are one of the preferred forms of supplements owing to their availability in various forms. Enteric-coated tablets, sublingual & buccal tablets, chewable tablets, effervescent tablets, and sustained release tablets are the most common types of dietary & nutrition supplement tablets available in the market. Manufacturing of tablets is comparatively cheaper and they are widely accepted by patients of all age groups. In addition, shelf life of these dosage forms is higher compared to liquid and powder forms.

Distribution Channel Insights
The nutritional supplements market on the basis of distribution channel has been segmented into supermarket/hypermarket, retail pharmacies, direct selling, drug stores and e-commerce. In 2019, retail stores accounted for the largest revenue share owing to high consumer base for retail stores. Conventional retail stores are implementing various business strategies such as provision of personalized nutritional consulting prior to purchasing any supplement, thereby strengthening their business hold.

However, e-commerce segment is anticipated to grow at the fastest CAGR owing to increase in number of self-directed consumers boosting the adoption of online sales channel for purchasing nutrition products. In addition, availability of high discounts on different brands of nutritional supplements further attracts a large consumer base.

Regional Insights
The nutritional supplements Market study examines the performance of market across six key regions, viz. North America, Western Europe, Eastern Europe, Asia Pacific, Latin America and Middle East & Africa. In 2019, Asia Pacific accounted for the largest revenue share of 40.5% in nutritional supplements market owing to high presence of domestic market players, emerging contract manufacturing facilities in countries including China, India & Philippines, increasing awareness about health & fitness, availability of cheap API’s, and others.

However, Latin America is expected to be the fastest growing market over the forecast period at a CAGR of 8.52%. Growing prevalence of obesity & diabetes, rise in disposable income, and increasing inclination toward active lifestyle are some of the key factors expected to drive demand for nutritional supplements over the forecast period.

Competitive Market Insights
Competitive landscape analysis in the report covers 12-15 key players in global nutritional supplements Market. Some of the leading companies profiled in this study include Abbott Nutrition, Amway, Nestle, Pfizer, Bayer AG, GNC Holdings, Herbalife International of America, Inc., Sanofi and Glanbia plc. Companies are undergoing formation of multiple partnerships and mergers & acquisitions in order to increase their portfolio and expand their footprint across new regions. In addition, companies are focusing on product differentiation and bundling strategies in order to capture larger market share. An extensive competition analysis allows for an exhaustive market structure assessment. This section further offers insights on recent market developments, emerging opportunities, impactful trends and dormant business tactics.

Report Scope
A recent market intelligence report added to the repository of Credible Markets, titled “Nutritional Supplements – Market Analysis and Forecast 2016 – 2027”, provides an extensive analysis of the global nutritional supplements market. The analysis and forecast is backed by the fact-based historic and current growth scenarios of the market. The report offers valued insights on the well-assessed market sizing (value) and growth projections for a stipulated period, 2016 – 2027.
The data has been meticulously gathered from some of the top industry experts and thorough secondary research. This information is authentic and dependable, and enables deeper understanding of nutritional supplement requirements and their market potential at global as well as regional levels. It intends to help potential market entrants with their strategic business planning.

Click Here, Direct Purchase of Nutritional Supplements Market Research Report

Detailed Analysis of Market Taxonomy:
The global nutritional supplements market report begins with a brief outline of the market taxonomy covering product, consumer group, formulation and distribution channel analysis, along with an overview of the scope of its research. Detailed trend and opportunity assessment with respect to each product, consumer group, formulation and distribution channel segment and associated sub-segments is the highlight of this section of the report. It then provides readers with a summary of the report that offers insights on market outlook and overall competition scenario in the nutritional supplements landscape. Relevant information and recent developments in nutritional supplements sector has been covered here. The market study then sheds light on the quick market background and its analysis with respect to nutritional supplements market research.
The report, in addition to analyzing the various socio-economic, political and technological aspects defining the performance of global nutritional supplements market, focuses on the overall scope of penetration and market attractiveness. The key market variables and their impact analysis with respect to the growth patterns of global nutritional supplements market are also evaluated in detail inside the report. It further provides information about the strategic background of market landscape, followed by the analysis of overall impact of the recent, current and upcoming strategic alliances and similar financial deals across the industry on performance of nutritional supplements market.

Covid-19 Impact Analysis:
Under an exclusive section that unleashes the covid-19 impact analysis on nutritional supplements market, the report attempts to track the evolution of growth path of market from 2019, through 2020, and post the medical crisis. While the pandemic has compelled entire industry to shift its preferences, it has turned the industry and its sub-sectors upside down within no time. The report covers deep-dive analysis of this impact particularly on the nutritional supplements market.

Nutritional Supplements Market 2022, Industry Analysis By Product, Consumer Group, Formulation, Sales Channel & Forecasts 2030

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Last Updated: 26-Jul-2022