The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.

 As per The Business Research Company’s Nutritional Supplements Global Market Report 2023, 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 nutritional supplemens market size is expected to reach $507.43 billion in 2027 at a CAGR of 6.8%.

What was the major driver in the nutritional supplements market?
Demand for nutritional supplements is being driven by the rising prevalence of noncommunicable diseases. Noncommunicable diseases are medical problems that are not usually caused by an acute infection. These health implications almost always necessitate long-term therapy and care. Several supplements, like alpha-lipoic acid supplementation to address diabetic complications, can help manage noncommunicable diseases like diabetes. According to the International Diabetes Federation, a non-profit diabetes organisation based in Belgium, 537 million individuals (20-79 years) were diagnosed with diabetes in December 2021, and 6.7 million died as a result of the disease. However, by 2030, it is expected that there would be 643 million diabetics globally. As a result, the rising prevalence of noncommunicable diseases will propel the nutritional supplement industry forward.

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What was the key trend in the nutritional supplements market?
New product developments are a prominent trend in the nutritional supplement market. To keep their market share, major nutritional supplement companies are focusing on introducing new products. Amway India Enterprises Private Limited, an India-based company specialising in the production and development of nutritional supplements, for example, developed nutrition supplements in a new, pleasant, convenient, and simple style in February 2022. Under the umbrella brand Nutrilite, this new line of products is produced as mouth-watering candies and jelly strips that dissolve in the mouth to meet modern lives. Amway created this portable nutrition product specifically for the modern lifestyle of millennials.

Which was the largest region in the nutritional supplements market?
Asia-Pacific was the largest region in the nutritional supplements market in 2022. Latin America is expected to be the fastest-growing region in the forecast period. The regions covered in the nutritional supplement report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the nutritional supplements market prominent players?
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.

Key nutritional supplements market segments
The global nutritional supplements market is segmented –
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

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The Nutritional Supplements Global Market Report 2023  provides a comprehensive overview on the nutritional supplements market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

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