According to Straits Research, the global nutritional supplements market size was valued at USD 361.25 billion in 2023 and is projected to reach USD 612.92 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.05% during the forecast period (2023–2031). This report provides an in-depth analysis of the market’s dynamics, key trends, opportunities, and challenges, along with comprehensive segmentation data and insights into leading players.
Market Key Trends
The nutritional supplements market is witnessing unprecedented growth due to increasing consumer awareness about health and wellness. The post-pandemic era has emphasized the importance of boosting immunity, which has further fueled the demand for dietary supplements, functional foods, and sports nutrition products. Additionally, rising disposable incomes, urbanization, and evolving consumer lifestyles are driving the consumption of these products across various demographics.
Moreover, advancements in biotechnology and research have paved the way for innovative product formulations, catering to specific needs such as cognitive health, weight management, and prenatal nutrition. The integration of digital platforms for product sales and consumer education also plays a pivotal role in shaping the market landscape.
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Driving Factors
Health Awareness: Increasing health consciousness among consumers globally is a major driver of market growth.
Aging Population: The geriatric population’s growing reliance on nutritional supplements for bone, joint, and cardiovascular health is expanding market demand.
Athletic Performance: Rising interest in sports and fitness activities has led to increased adoption of sports nutrition products.
Digital Transformation: The e-commerce boom has made nutritional supplements more accessible to consumers worldwide.
Personalized Nutrition: Advancements in personalized nutrition solutions based on individual genetic and metabolic profiles are gaining traction.
Opportunities
The nutritional supplements market offers a plethora of opportunities for growth:
AAAA: Expanding into untapped markets, particularly in emerging economies, presents significant growth potential.
Functional Foods: Innovations in functional foods and beverages that provide health benefits beyond basic nutrition can open new revenue streams.
Sustainability: Consumer demand for plant-based, organic, and sustainable supplements is rising, encouraging companies to invest in eco-friendly production methods.
Technological Integration: Leveraging AI and data analytics to provide personalized recommendations and enhance the customer experience.
Nutritional Supplements Market Segmentation
By Product Type:
Sports Nutrition
Dietary Supplements
Fat Burner
Functional Food
Others
By Form:
Powder
Tablets
Capsules
Liquid
Soft Gels
Others
By Consumer Group:
Infants
Children
Adults
Pregnant Women
Geriatric
By Distribution Channel:
Brick and Mortar
E-commerce
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Key Players in the Nutritional Supplements Market
The market is characterized by the presence of prominent players who continuously innovate to maintain a competitive edge. Among the leading companies are:
Amway Corporation
Herbalife Nutrition Ltd.
Abbott Laboratories
Glanbia PLC
Bayer AG
Pfizer Inc.
Blackmores Limited
The Nature’s Bounty Co.
Nestlé Health Science
Others
Conclusion
The global nutritional supplements market is poised for robust growth, driven by evolving consumer preferences, technological advancements, and increasing demand for health-centric products. Companies investing in RD, sustainability, and digital innovation are well-positioned to capitalize on these trends.
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Why Straits Research?
Straits Research is a leading provider of actionable market insights and strategic analysis. Our team delivers accurate, data-driven reports tailored to meet the needs of businesses navigating dynamic market landscapes. With a commitment to excellence and a global perspective, Straits Research equips decision-makers with the tools they need to drive growth and innovation.
