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What is the Anticipated CAGR of the Nutritional Supplements Market Over the 2024-2033 Forecast Period?

The market size of nutritional supplements has exhibited robust growth in the past few years. Its value, set to increase from $390.7 billion in 2023 to $419.71 billion in 2024, will experience a compound annual growth rate (CAGR) of 7.4%. This expansion during the historical period can be credited to factors such as an aging population, evolving lifestyles, the popularity of sports and fitness, e-commerce development, and the surge of veganism.

The market size for nutritional supplements is anticipated to experience significant expansion in the forthcoming years. It is projected to reach $569.83 billion in 2028, with a compound annual growth rate (CAGR) of 7.9%. Factors contributing to this growth during the predicted period include personalized nutrition, increased interest in genetic testing, intelligent packaging, readiness for epidemics, and focus on sustainability. Key trends during this forecast period encompass CBD and hemp-based supplements, plant-sourced proteins, supplements designed for mental well-being, collagen supplements, and brain health supplements.

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What Are the Driving Forces Behind the Growth of the nutritional supplements Market?

The elevated prevalence of non-communicable diseases is promoting the demand for the nutritional supplement market. These illnesses, which are not typically sourced from an acute infection, demand lengthy treatment and care. For instance, diabetes, a common non-communicable disease, can be controlled by several supplements like alpha-lipoic acid, which helps mitigate diabetic complications. The International Diabetes Federation, a Belgium-based non-profit diabetes association, released data in December 2021 indicating that 537 million adults aged between 20–79 years were diabetic, and the disease claimed 6.7 million lives in that year. Furthermore, it’s projected that by 2030 there will be 643 million diabetic individuals globally. Therefore, the thriving prevalence of non-communicable diseases is playing a critical role in propelling the nutritional supplement market’s growth.

What Are the Core Segments of the Nutritional Supplements Market?

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

What Are the Key Innovations Reshaping the Nutritional Supplements Market?

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What Regions Are Influencing the Dynamics of the Nutritional Supplements Market?

Asia-Pacific was the largest region in the nutritional supplements market in 2023. Latin America is expected to be the fastest-growing region in the forecast period. The regions covered in the nutritional supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Nutritional Supplements Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the nutritional supplements market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Nutritional Supplements Market Include

1. Nutritional Supplements Market Executive Summary

2. Nutritional Supplements Market Segments

3. Nutritional Supplements Market Size And Template Market Growth Rate

4. Key Nutritional Supplements Market Trends

5. Major Nutritional Supplements Market Drivers

……

25. Key Mergers And Acquisitions In The Nutritional Supplements Market

26. Top Nutritional Supplements Companies

27. Nutritional Supplements Market Opportunities And Strategies

28. Nutritional Supplements Market, Conclusions And Recommendations

29. Appendix

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