The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s nutritional supplements market report forecasts the nutritional supplements market size to grow to $507.43 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.

Learn More On The Nutritional Supplements Market Report 2023 – https://www.thebusinessresearchcompany.com/report/nutritional-supplements-global-market-report

Nutritional Supplements Market Size Forecast
The global nutritional supplements market is expected to grow from $363.92 billion in 2022 to $389.38 billion in 2023 at a compound annual growth rate (CAGR) of 7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The nutritional supplements market size is expected to reach $507.43 billion in 2027 at a CAGR of 6.8%.

Asia-Pacific held the largest nutritional supplements market share, and Latin America was the fastest-growing region in 2022.

Key Nutritional Supplements Market Driver ­– Increase In The Prevalence Of Non-Communicable Diseases
For instance, in December 2021, according to the statistics published by the International Diabetes Federation, a Belgium-based, non-profit diabetes association, 537 million adults (20–79 years) were recorded as living with diabetes, and 6.7 million people died of diabetes in 2021. However, by 2030, it is anticipated that there will be 643 million people worldwide with diabetes. Therefore, the increasing prevalence of non-communicable diseases will drive the growth of the nutritional supplement market.

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Key Nutritional Supplements Market Trend – New Product Innovations
Major nutritional supplement players are focused on developing new products to sustain their marketplace. For instance, in February 2022, Amway India Enterprises Private Limited, an India-based company engaged in the production and development of nutritional supplements, launched nutrition supplements in a unique, tasty, convenient, and simplified format. This new line of products is created, under the umbrella brand Nutrilite as mouth-watering candies and jelly strips that dissolve in the mouth to fit modern lifestyles. Amway has developed this compact nutrition product, especially for the modern lifestyle and millennials.

Nutritional Supplements Market Segment
1) By Type: Vegan Sport Nutrition, Meal Replacement Shakes, Food Supplements, Other Types
2) By Formulation: Tablets, Capsules, Powder, Soft gels, Liquid, Other Formulations
3) By Ingredient: Botanicals, Vitamins, Minerals, Proteins & Amino Acids, Fish Oils, Fibers & Specialty Carbohydrates, Enzymes, Other Ingredients
4) By Distribution Channel: Supermarket/Hypermarket, Retail Pharmacies, Direct Selling, Drug Stores, E-Commerce
5) By End User: Infant, Children, Adults, Pregnant Women, Elderly

Nutritional Supplements Market Major Players and Strategies
Major players in the nutritional supplements market are Abbott Laboratories, The Archer-Daniels-Midland Company, American Health Formulations Inc., Amway Corporation, ARKOPHARMA Laboratories Company Limited, Ayanda GmbH, DuPont de Nemours Inc., DSM Human Nutrition & Health, Herbalife Nutrition Ltd., Pfizer Inc., The Healing Power of Nature, GlaxoSmithKline plc, Bayer AG, Glanbia Plc, Carlyle Group, Stepan Company, Nu Skin, and XanGo.

In August 2021, Nestlé Health Science, a Switzerland-based pharmaceutical and nutritional manufacturing company, acquired The Bountiful Company for USD 5.75 billion. With this agreement, Nestle acquired the Bounty®, Solgar®, Osteo Bi-Flex®, Puritan’s Pride®, Ester-C®, and Sundown brands from Bountiful. Nestlé will establish a dominant position in the fragmented market of vitamins, minerals, and supplements with the acquisition of The Bountiful Co., which has generated constant growth in consumer health care. The Bountiful Company is a US-based company engaged in developing and producing dietary supplements.

The Nutritional Supplements Global Market Report 2023 covers regional data on nutritional supplements market size, nutritional supplements market trends and drivers, opportunities, strategies, and nutritional supplements market competitor analysis. The countries covered in the nutritional supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Nutritional supplements are any vitamin or mineral added to foods or diet that improves the nutritive content of the meal and occasionally supplies only those nutrients that customers are lacking. They are used to enhance diets and usually include vitamins, minerals, herbs, or amino acids.

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