Nutritional supplements are specially designed products meant to enhance the diet and provide necessary nutrients that may be lacking or insufficient in a person's regular diet. These supplements are specifically formulated to augment the usual food intake and improve overall health, well-being, performance, or the prevention and treatment of specific ailments. Diverse types of nutritional supplements are accessible, including pills, capsules, tablets, powders, and liquids. These products typically consist of vitamins, minerals, amino acids, herbs, or other dietary components intended to enhance the nutritional content of one's diet.
The rising incidence and effects of chronic diseases, such as cardiovascular diseases, diabetes, obesity, cancer, and other problems, pose a substantial barrier to the global healthcare system and economy. According to the World Health Organization (WHO), chronic diseases result in the annual demise of 17 million adults below the age of 70. Nutritional supplements can help prevent or manage many diseases by providing essential nutrients, antioxidants, anti-inflammatory chemicals, and other beneficial components that can modulate risk factors and improve results.
Moreover, there is a prevalent prevalence of dietary insufficiencies, such as iron, iodine, vitamin A, and others, specifically in low- and middle-income countries. These shortcomings substantially influence the well-being and progress of millions of individuals. A survey published in NLM reveals that about 2 billion people globally suffer from iodine deficiency (ID), and approximately 50 million display clinical symptoms. Nutritional supplements can efficiently correct these deficiencies and improve the affected individuals' nutritional status and overall well-being. Hence, these factors drive the global market.
In recent years, prominent companies have escalated the launch of novel dietary supplements on the market, motivated by a rising inclination towards preventive healthcare. For instance, in October 2022, Bayer's consumer health division introduced Supradyn Immuno+, a daily supplement designed to enhance the body's immune system. This addition broadens the spectrum of multivitamin supplements offered by the Supradyn brand. These supplements possess qualities that improve both daily and long-term immune function.
Moreover, in October 2023, Ancient Nutrition, a well-known company in the field of health and wellness, introduced the world's first nutritional supplement formulas that have received triple certification. This collection comprises 16 probiotics and herbal functional mushroom items, all of which have received the esteemed Regenerative Organic Certified® (ROC™), USDA Organic, and Non-GMO certifications. Ancient Nutrition strives to serve as a model for other companies to emulate, offering consumers a choice that supports a larger movement of products that go beyond organic. Consequently, these launches are anticipated to create lucrative market expansion opportunities.
Asia-Pacific is the most significant global nutritional supplements market shareholder and is expected to expand substantially during the forecast period. This can be attributed to surging disposable income, urbanization, increased health consciousness, and rising demand for natural and herbal products. The market participants are also actively involved in strategic activities to enhance their market domination. In September 2022, Centrum debuted in India through Haleon, formerly known as GlaxoSmithKline Consumer Healthcare. The company has introduced the Centrum Multivitamin range in India, acknowledging the varied nutritional needs based on gender and age. The series has four different types of multivitamins: Centrum Women, Centrum Men, Centrum Adults 50+, and Centrum Kids.
Furthermore, in December 2023, Vitals Brand Co., Ltd launched a new e-commerce site that combines high-quality nutritional supplements to cater to the needs of the contemporary generation and health-conscious clientele. The website aims to establish itself as the foremost destination in Thailand for supplements. The tagline, "Live life to the fullest with Vitals," encourages folks to embrace a vibrant and health-conscious way of living. Such factors propel regional market growth.
The key global nutritional supplements market players are Glanbia PLC; Abbott; Nestlé Health Science; PepsiCo; Herbalife International of America, Inc.; Clif Bar & Company; Science in Sport plc; THG PLC; Amway Corp.; CSN, and others.