Nutrition and Supplements Market Size, Share, Growth, and Industry Analysis, By Type (Vitamins, Botanicals, Minerals, Proteins & Amino Acids, Fibers & Specialty Carbohydrates, Omega Fatty Acids and Others), By Application (Energy & Weight Management General Health, Bone & Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-cancer and Others), Regional Insights, and Forecast From 2024 To 2031

Nutrition And Supplements Market Report Overview

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The global nutrition and supplements market size was USD 28471.36 million in 2021 and is expected to reach USD 51316.69 million in 2031, at a CAGR of 6.07% during the forecast period.

Nutritional supplements are the products that are consumed to improve diet. It includes vitamins, minerals, herbs, meal supplements, natural food supplements and other related products. They are consumed to boost health and energy, to develop strong immune system, to protect against diseases, to reduce the risk of illness, age related conditions and to support healing process during illness.

Nutritional supplements provide all the necessary nutrients like proteins, minerals and vitamins that are essential to maintain healthy skin, hair, and body. They are used to treat nutritional deficiency in the human body. Health benefits of nutritional supplements include reduction in signs of aging and improved health, strong immunity power to fight against different diseases. These factors are expected to contribute to the growth of the nutrition and supplements market.

COVID-19 Impact: Pandemic Increased the Market Demand

The global COVID-19 pandemic has been unprecedented and staggering, with nutrition and supplements market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Imposition of lockdown due to the COVID-19 pandemic led to a temporary prohibition on production and processing, as well as import and export, across a range of businesses and utilities. One of the biggest problem arrived in supplying the raw materials to manufacture supplements due to irregularities in the transportation system. However, Pandemic had a positive impact on the growth of nutrition and supplements market due to easier access to the internet, rising consciousness among people regarding health and well-being, increase in non-communicable diseases and growing pharmaceutical industries.

Latest Trends

"Increasing Product Launches by Key players to drive the Market Growth "

The growth of market can be attributed to various factors such as the rising consciousness about the benefits of preventive healthcare, and the growing popularity of nutritional supplements. Amway India has launched nutrition supplements in trendy, tasty, convenient and simplified formats like flavourful gummies and mouth dissolving jelly strips under its brand Nutrilite which is specially designed to suit modern lifestyles especially of the busy young millennials. In January 2019, Nestle S.A. opened its first R & D centre in Ireland to focus on scientific research to develop infant nutrition products. Such new launches by key players is expected to boost market growth.

Nutrition And Supplements Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Vitamins, Botanicals, Minerals, Proteins & Amino Acids, Fibers & Specialty Carbohydrates, Omega Fatty Acids and Others

• By Application Analysis

Based on application, the market can be divided into Energy & Weight ManagementGeneral Health, Bone & Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-cancer and Others.

Driving Factors

"Growing Awareness Regarding Benefits of Supplements to Stimulate Market Demand"

Healthcare expenses have been increasing over the years. After the pandemic, people have become extra conscious to maintain a healthy lifestyle. Increase in the occurrence of different diseases, high cost of medical tests, rising consciousness among people regarding preventive healthcare supplements, improvements in healthcare industry are responsible to increase the demand for Nutrition and Supplements.

"Easy Access through E-commerce to Boost Market Growth"

The use of e-commerce platforms has increased due to the pandemic and has further stimulated market growth. E-commerce platforms offer varieties of nutritional supplements with safe and hygienic delivery services. Easy access to nutritional supplements, doorstep delivery, safe payment options, hassle free refunds are the factors that are expected to propel nutrition and supplements market growth.

Restraining Factors

"High Price of Nutrition and Supplements to Hamper Market Demand"

The price of different nutritional supplements varies from place to place. Increasing price of nutrition and supplements due to rising cost of raw materials needed to manufacture it and increase in the healthcare expenses and high cost of investments are the factors that are responsible to hinder the growth of Nutrition and supplements market.

Nutrition And Supplements Market Regional Insights

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"Growing Demand in Asia Pacific Anticipated to Boost Market Expansion "

Asia Pacific is the most dominating region in nutrition and supplements market share. Technological advancements, the availability of multiple supplement options and easy access to different nutritional supplements are the factors responsible for market growth.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Development "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. The top key players in the market are Bionova Lifesciences, Pfizer, GlaxoSmithKline, Archer Daniels Midland, Nu Skin Enterprises, Amway and others. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates the market demand.

LIST OF TOP NUTRITION AND SUPPLEMENTS COMPANIES

• Bionova Lifesciences
• Pfizer
• GlaxoSmithKline
• Archer Daniels Midland
• Nu Skin Enterprises
• Amway
• Bayer
• Glanbia
• Abbott Laboratories
• Herbalife International
• Arkopharma Laboratoires Pharmaceutiques
• Nature’s Sunshine Form
• NBTY Inc.
• Carlyle Group

Report Coverage

This report examines an understanding of the nutrition and supplements market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.