Nutritional Supplements Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

Published Date : Jan 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Nutritional Supplements market size is expected to be worth around US$ 524.4 billion by 2028, according to a new report by Vision Research Reports.

The global Nutritional Supplements market size was valued at US$ 370.9 billion in 2020 and is anticipated to grow at a CAGR of 7.4% during forecast period 2021 to 2028.

Growth Factors

Growing consumer awareness and increasing consumer willingness to spend on nutritional supplements are the key factors driving the market. In addition, rise in disposable income and increase in the number of distribution channels for these dietary products, coupled with improved accessibility, propel market growth.

Rise in geriatric population and increasing prevalence of lifestyle diseases, including obesity and diabetes, further boost demand for nutritional supplements among consumers who are inclined towards a healthy lifestyle. According to the International Diabetes Federation (IDF), more than 12.5 million cases of diabetes were reported in Brazil in 2017. Increase in consumer awareness regarding preventive healthcare and rise in self-directed consumers significantly contribute to the growing product demand.

Emerging local players, growing partnerships and collaborations, rise in mergers and acquisitions, and growing adoption of plant-based ingredients as well as traditional remedies are further expected to impel the product demand. For instance, in December 2018, PepsiCo, Inc. acquired Health Warrior, Inc., a U.S.-based nutrition company, to expand its portfolio in nutrition bars. However, ongoing amendments in the regulatory framework of dietary ingredients and products in many countries, including U.S., Brazil, Australia, and China, are a key challenge impeding market growth.

Report Highlights

the functional foods segment held the largest share of 58.7% in the market. Factors such as an increase in consumer awareness about the benefits of a healthy diet and a rise in demand for nutritional and fortified food additives are contributing to the segment growth. In addition, the presence of a large number of commercialized products is a key factor propelling the growth of the functional foods segment.

Growing demand for probiotics for maintaining digestive wellness is also one of the significant factors propelling the growth of this segment. Recent product innovations and rising mergers and acquisitions are resulting in market expansion, thereby contributing to its large market share. The functional food market is fragmented and leading to the proliferation of new niches, which, in turn, is supporting its growth.

The sports nutrition segment is expected to register a CAGR of 9.1% over the forecast period. Rising consumer interest in sports activities is one of the key factors for its increased growth. Moreover, increasing number of health and fitness centers involved in the endorsement of sports nutrition brands is expected to boost the demand for sports nutrition products over the forecast period. According to the International Health, Racquet & Sportsclub Association (IHRSA), the number of health clubs in the U.S. increased by 5.2% from 36,540 in 2016 to 38,447 in 2017.

The children segment accounted for the largest revenue share of 27.3% in 2020. Factors contributing to its increased market share include an increasing number of new product launches for this category and a rise in the number of children suffering from malnutrition. 

The children segment is likely to emerge as the fastest-growing segment over the forecast period. Advantages associated with nutritional supplements in maintaining general health, boosting immunity, and reducing nutritional deficiency is a key reason responsible for increasing the demand among children. In addition, ongoing research activities to introduce unique flavors and packaging for children is one of the factors expected to boost its demand among children in the coming years.

The adult segment holds a significant share owing to the high adoption of nutritional supplements and the presence of a large population in this age group. The risk of developing chronic diseases is high among this age group, which increases their dependency on preventive alternatives.

The powder is one of the rapidly growing segments in the market. Ease in consumption of supplements in the powdered form among all the age groups is a key factor propelling the demand for powdered formulations. In addition, the availability of a large number of powdered supplements is one of the significant factors that contribute to its increased market share. Increased adoption among active athletes and lower manufacturing costs are expected to bolster the growth of the powder segment during the forecast period. Powders are generally flavored and colored and can be dissolved in any beverage of the patient’s choice, which, in turn, is driving its demand.

Established retail stores are formulating some strategies to maintain their share in the retail business. For instance, in 2017, Vitamin Shoppe launched Brand Defining Stores in around nine locations to increase customer engagement and enhance their overall experience. These stores are easier to navigate and have sports nutrition and protein sampling station, which lets consumers try products before purchase. The huge presence of specialty stores is one of the major factors driving the growth of the bricks and mortar channel. For instance, GNC has more than 4,800 retail stores while Vitamin Shoppe has around 785 stores across the U.S.

E-commerce is expected to expand at the fastest CAGR of 7.4% over the forecast period. An increasing number of e-commerce platforms, rising self-directed consumers, and a surge in the number of discounts on online platforms are boosting the demand for e-commerce. For instance, in July 2018, Optimum Nutrition, a global sports nutrition brand, offered discounts on many best-selling products for a 72-hour sale on Amazon Prime Day.

Asia Pacific dominated the market and accounted for a 39.5% share of the total revenue. Key factors contributing to the high demand include the presence of a large number of local players, availability of cheap active pharmaceutical ingredients (APIs), and emerging contract manufacturing hubs, like China, India, and the Philippines. Rising health consciousness and growing interest in sports activities also contribute to regional market growth.

The growing popularity of traditional products is creating growth opportunities for local players to grow. In addition, digital infrastructure is improving in countries such as India and China, which offers huge opportunities for online platforms. Many multinational companies are partnering with local players to strengthen their presence in this region. For instance, in 2018, Jamieson Wellness, a Canadian vitamin and supplement manufacturer, entered into a five-year agreement with MedPlus, an Indian pharmacy chain, to expand its business in Asia.

Key Players

Amway; Abbott Nutrition; Nestle; Herbalife International of America, Inc.; and Glanbia plc. 

Market Segmentation

  • Product Outlook 

    • Sports Nutrition

      • Sports Food

        • Protein Bars

        • Energy Bars

      • Sports Drinks (RTD)

        • Isotonic

        • Hypotonic

        • Hypertonic

      • Sports supplements

        • Multivitamins

        • Probiotics

        • Omega -3

        • Carbohydrate Supplements

          • Maltodextrin

          • Dextrose

          • Waxy Maize

          • Karbolyn

        • Protein

          • Egg Protein

          • Soy Protein

          • Pea Protein

          • Lentil Protein

          • Hemp Protein

          • Casein

          • Quinoa Protein

          • Whey Protein

            • Whey Protein Isolate

            • Whey Protein Concentrate

        • Vitamin

          • Vitamin A

          • Vitamin B

          • Vitamin C

          • Vitamin D

          • Vitamin E

        • Minerals

          • Calcium

          • Potassium

          • Magnesium

          • Iron

          • Zinc

        • Amino Acids

          • Bcaa

          • Arginine

          • Aspartate

          • Glutapure

          • Beta Alanine

          • Creatine

          • L-Carnitine

    • Fat Burners

      • Caffeine

      • Soluble Fiber

      • Protein

      • Green Tea Extract

    • Dietary Supplements

      • Vitamin

      • Mineral

      • Enzymes

      • Amino Acids

      • Conjugated Linoleic Acids

    • Functional Foods

      • Probiotics

      • Omega-3

      • Others

  • Consumer Group Outlook

    • Gen Z (Age 5 - 19)

      • Sports Nutrition

      • Dietary Supplements

      • Fat Burners

      • Functional Foods

    • Millennials (Age 20 -39)

      • Sports Nutrition

      • Dietary Supplements

      • Fat Burners

      • Functional Foods

    • Gen X (Age 40 - 59)

      • Sports Nutrition

      • Dietary Supplements

      • Fat Burners

      • Functional Foods

    • Baby Boomers (Above 60 Age)

      • Sports Nutrition

      • Dietary Supplements

      • Fat Burners

      • Functional Foods

  • Formulation Outlook

    • Tablets

    • Capsules

    • Powder

    • Softgels

    • Liquid

    • Others

  • Sales Channel Outlook 

    • Brick & Mortar, By Type

      • Direct Selling

      • Chemist/Pharmacies

      • Health Food Shops

      • Hyper Markets

      • Super Markets

    • Brick & Mortar, By Product

      • Sports Nutrition

      • Dietary Supplements

      • Fat Burners

      • Functional Foods

    • E-commerce, By Product

      • Sports Nutrition

      • Dietary Supplements

      • Fat Burners

      • Functional Foods

  • Regional Outlook

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • Spain

      • Italy

      • France

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

      • Singapore

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

The Nutritional Supplements market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Nutritional Supplements market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Nutritional Supplements market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Nutritional Supplements market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Nutritional Supplements market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Nutritional Supplements capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Nutritional Supplements by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Nutritional Supplements market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Nutritional Supplements market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Nutritional Supplements market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Nutritional Supplements industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Nutritional Supplements market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Nutritional Supplements market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Nutritional Supplements market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Nutritional Supplements market. These factors have benefited the growth of the global market for Nutritional Supplements. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Nutritional Supplements. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Nutritional Supplements are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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