Global Nutritional Supplements Market is Expected to Foresee Significant Growth During the Forecast Period. Asia-Pacific to Witness the Highest Growth
- Vikas Kumar
- December 30, 2021
- CONSUMER GOODS, NEWS
- Nutritional Supplements Market Growth, Nutritional Supplements Market News, Nutritional Supplements Market share, Nutritional Supplements Market size, Nutritional Supplements Market Trend
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The global nutritional supplements market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 7% during the forecast period (2021-2027).
Promoting healthy diets and lifestyles to reduce the global burden of noncommunicable diseases requires a multisectoral approach involving the various relevant sectors in societies. A rise in communicable and non-communicable diseases across the globe is resulting out in the demand for immune products such as supplements which are acting as a growth catalyst to the nutritional supplements market. In addition, a healthy diet helps to prevent malnutrition in all its forms as well as a range of noncommunicable diseases (NCDs) and conditions. However, increased production of processed foods, rapid urbanization, and changing lifestyles have led to a shift in dietary patterns. People are now consuming more foods high in energy, fats, free sugars, and salt/sodium, and many people do not eat enough fruit, vegetables, and other dietary fiber such as whole grains. Therefore, a rise in consumer awareness about the health benefits of health and wellness products over food is leading to the growing demand, globally.
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A growing emphasis on the diet among individuals across the globe is leading to the growing demand for healthy food and diets including nutritional supplements. As per FAOSTAT, the availability of calories per capita from the mid-1960s to the late 1990s increased globally by approximately 450 kcal per capita per day and by over 600 kcal per capita per day in developing countries. However, this change is not equal across regions. Moreover, the per capita supply of calories has remained almost stagnant in sub-Saharan Africa and has recently fallen in the countries in economic transition.
The rising number of the spine and back-related injuries among end0-users coupled with the offering of the latest technology-enabled Nutritional Supplements is adding pace to the growth of the market. As Per Centers for Disease Control and Prevention found that roughly 25% of adults sit for more than 8 hours a day. Back pain is one of the most common Trusted Source medical problems in the United States. About 1 in 4 adults in the country have at least 1 day of back pain in any 3 months.
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The COVID-19 has also resulted in the generation of opportunities for manufacturers of health-oriented products, especially nutritional supplements. The market has been prompted with the increase in consumer perception of these products to help maintain immunity and its efficiency in fighting the deadly virus. This in turn surges the demand for associated markets, including nutritional supplements.
Based on the Product Type, the market is fragmented into Dietary Supplements, Sports Supplements, Functional Food, and Others. The functional food segment grabbed the major market share and dominated the market. Moreover, the market of this segment would proliferate in the forthcoming years as consumers are increasingly looking for specific health benefits from food due to which the demand for functional food is witnessing an uptick. As per Statista, the global functional food market is expected to increase from USD 177.77 Mn in 2019 to USD 267.92 Mn by 2027.
Based on the End-User, the market is fragmented into Infants, Children, Adults, Pregnant and Geriatric. The adults’ segment grabbed the leading market share and dominated the market. The growing awareness about the healthy diet coupled with the impact of improper nutrition is leading to the growing demand for nutritional supplements in adults. As per CDC, less than 1 in 10 US adults and adolescents eat enough fruits and vegetables.
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Additionally, the report provides detailed initiatives that are being taken in the field of Artificial Plants. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and the Rest of APAC), Rest of World has been conducted. Asia Pacific region dominated the market and grabbed major market share in 2020. However, the North America region is expected to witness the highest CAGR during the forecast period on account of the rising consumer awareness about nutrient insufficiency due to improper food consumption, an emerging number of malnutrition suffered people, etc. As per a study by Oregon State University, About 75% of the US population (ages ≥1 year) do not consume the recommended intake of fruit, and more than 80% do not consume the recommended intake of vegetables
Global Nutritional Supplements Market Segmentation
Market Insight, by Product Type
- Dietary Supplements
- Sports Supplements
- Functional Food
Market Insight, by Ingredients
- Fatty Acids
Market Insight, by Form
Market Insight, by Consumer Group
Market Insight, by Distribution Channel
- Hypermarkets & Supermarkets
- Pharmacy Stores
- Online Channels
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Abbott Nutrition
- Archer Daniels Midland (ADM)
- American Health
- Arkopharma Laboratoires Pharmaceutiques
- Herbalife International of America, Inc
- Glanbia plc.