Home Pharmaceuticals Nutritional Supplements Market Size to Hit $612.92 billion by 2031

Nutritional Supplements Market

Nutritional Supplements Market Size, Share & Trends Analysis Report By Product Type (Sports Nutrition, Dietary Supplements, Fat Burner, Functional Food, Others), By Forms (Powder, Tablets, Capsules, Liquid, Soft Gels, Others), By Consumer Group (Infants, Children, Adults, Pregnant, Geriatric), By Distribution Channel (Brick and Mortar, E-commerce) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, -

Report Code: SRPH55831DR
Study Period 2020- CAGR 6.05%
Historical Period 2020-2022 Forecast Period -
Base Year 2023 Base Year Market Size
Forecast Year Forecast Year Market Size
Largest Market Asia Pacific Fastest Growing Market North America
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Market Overview

The global nutritional supplements market size was valued at USD 361.25 billion in 2022. It is estimated to reach USD 612.92 billion by 2031, growing at a CAGR of 6.05% during the forecast period (2023–2031). In recent years, there has been a surge in chronic illnesses as well as nutritional deficiencies owing to lifestyle changes globally. This has surged the demand for nutritional supplements as people focus more on preventive healthcare. Moreover, the key players in the market are introducing novel nutritional supplements to enhance their market share, thereby creating opportunities for market expansion.

Nutritional supplements are specifically formulated products intended to augment the diet and supply essential elements that may be deficient or inadequate in an individual's customary food consumption. These supplements are designed to enhance the regular consumption of food and promote better health, well-being, performance, or the prevention and treatment of specific illnesses.

Nutritional supplements are available in various forms, like pills, capsules, tablets, powders, and liquids. These products generally include vitamins, minerals, amino acids, herbs, or other dietary elements designed to improve the diet's nutritional value. They are distributed through diverse channels, including pharmacies, supermarkets, health food stores, online platforms, and direct sales.

Market Dynamics

Global Nutritional Supplements Market Drivers

Rising Prevalence of Chronic Diseases and Nutritional Deficiencies

The rising prevalence and impact of chronic diseases, including cardiovascular illnesses, diabetes, obesity, cancer, and other conditions, are presenting a significant obstacle to the worldwide healthcare system and economy. The WHO reports that chronic diseases cause an annual death toll of 17 million individuals under the age of 70. Nutritional supplements can aid in preventing or managing various diseases by supplying vital nutrients, antioxidants, anti-inflammatory substances, and other advantageous components that can regulate the risk factors and enhance the outcomes.

Furthermore, there is a widespread occurrence of nutritional deficiencies, including iron deficiency, iodine deficiency, vitamin A deficiency, and others, particularly in low- and middle-income nations. These deficiencies have a significant impact on the health and development of millions of individuals. According to a report published in NLM, almost 2 billion individuals worldwide experience iodine deficiency (ID), with roughly 50 million exhibiting clinical symptoms. Nutritional supplements can effectively rectify these deficits and enhance the affected people's nutritional status and overall well-being. These factors propel the global market.

Growth in Geriatric Population

The global geriatric population is increasing, resulting in a higher need for health and wellness products. An aging population has emerged due to declining birth rates and rising life expectancy. According to the United Nations Report, the worldwide population of 65 and above reached 771 million in 2022, accounting for around 10% of the global population. Projections suggest that it is expected to grow at 16% by 2050 and is further predicted to increase to 24% by 2100. Several specific health concerns, including joint support, cognitive function, and bone health, are frequently addressed by nutritional supplements for the elderly, which drives market expansion.

Global Nutritional Supplements Market Restraint

Lack of Regulation and Standardization

A significant challenge affecting the global market is the need for more regulation and standardization of the products, which can undermine their quality, safety, effectiveness, and genuineness. In contrast to medicines, nutritional supplements do not undergo thorough testing and approval by regulatory bodies, like the US Food and Drug Administration, the European Medicines Agency (EMA) in the EU, and others, before their introduction to the market.

Furthermore, the manufacturers and dealers of nutritional supplements ensure that their goods, labeling, claims, and ads comply with regulations and are accurate. These standards might differ significantly between countries and regions. Such circumstances lead to perplexity and skepticism among consumers, as they may lack the means to authenticate their products' constituents, dosage, efficacy, purity, and provenance. Moreover, it can subject patients to potential hazards, including adverse side effects, interactions, contamination, adulteration, and fraudulent practices.

Global Nutritional Supplements Market Opportunities

New Product Launches

In recent years, major companies have increased the introduction of new nutritional supplements in the market, driven by a growing preference for preventative healthcare. For instance, in October 2022, Bayer's consumer health division announced the introduction of Supradyn Immuno+, a daily immunity booster. This expands the Supradyn brand's range of multivitamin supplements, which provide properties that enhance both daily and long-term immunity.

Furthermore, in October 2023, Ancient Nutrition, a prominent health and wellness company, unveiled the world's inaugural nutritional supplement formulae that have obtained triple certification. This innovative collection consists of 16 probiotics and herbal functional mushroom categories items, all of which have obtained the prestigious Regenerative Organic Certified® (ROC™), USDA Organic, and Non-GMO certifications. Ancient Nutrition aims to set an example for other firms to imitate and provide consumers with an alternative supporting a broader movement beyond-organic products. These launches are expected to generate lucrative opportunities for nutritional supplements market growth.

Regional Analysis

Based on region, the global market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Asia-Pacific Dominates the Global Market

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 in the region. The market participants are also engaged in strategic initiatives to augment their nutritional supplements market share dominance. For instance, in September 2022, Centrum made its first appearance in India through Haleon, previously recognized as GlaxoSmithKline Consumer Healthcare. The business has launched the Centrum Multivitamin line in India, recognizing the diverse nutritional requirements based on gender and age. The series has four distinct variations of multivitamins, i.e., Centrum Women, Centrum Men, Centrum Adults 50+, and Centrum Kids.

Similarly, in December 2023, Vitals Brand Co., Ltd introduced a new e-commerce platform that consolidates premium nutritional supplements to meet the demands of the modern generation and health-conscious customers. The platform aspires to position itself as Thailand's leading destination for supplements. It promotes the tagline, "Live life to the fullest with Vitals," urging individuals to adopt a lively and health-conscious lifestyle.

Moreover, the government and regulatory authorities are implementing various measures that improve the nutritional consumption of individuals in this region. For instance, in February 2023, the Chief Minister of Tamil Nadu, M K Stalin, initiated a specialized feeding initiative for newborns and children attending government schools. As part of the program, the government intends to distribute Ready-to-use Therapeutic Food (RUTF) to children up to eight weeks old. Mothers of 11,917 newborns up to six months old will also receive a kit containing iron syrup and other nutritional supplements. These factors are expected to enhance the expansion of the regional market.

The North American nutritional supplement market experiences significant penetration and acceptance due to the well-informed and health-conscious nature of consumers who actively seek goods that enhance their health, wellness, and overall quality of life. The region is characterized by the prominent presence of industry leaders and renowned brands, like Pfizer, Amway, Herbalife, Abbott, and others. These businesses offer various goods and services to satisfy the constantly shifting needs of customers.

Moreover, the region is experiencing the introduction of numerous new firms venturing into the market for nutritional supplements. For instance, in November 2023, Vinatura Supplements, a recently established brand of nutritious supplements, was introduced in the United States. The brand is dedicated to offering premium supplements that foster well-being and support a healthy lifestyle. Therefore, these factors accelerate the market growth in this region.

Report Scope

Report Metric Details
Segmentations
By Product Type
  1. Sports Nutrition
  2. Dietary Supplements
  3. Fat Burner
  4. Functional Food
  5. Others
By Forms
  1. Powder
  2. Tablets
  3. Capsules
  4. Liquid
  5. Soft Gels
  6. Others
By Consumer Group
  1. Infants
  2. Children
  3. Adults
  4. Pregnant
  5. Geriatric
By Distribution Channel
  1. Brick and Mortar
  2. E-commerce
Company Profiles Glanbia PLC Abbott Nestlé Health Science PepsiCo Herbalife International of America, Inc. Clif Bar & Company Science in Sport plc THG PLC Amway Corp. CSN
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global market is bifurcated into product type, form, consumer group, and distribution channel.

Based on product type, the global nutritional supplements market is bifurcated into sports nutrition, dietary supplements, functional food, fat burner, and others.

The functional food segment dominates the market during the forecast period. Functional foods are specifically formulated to offer further health advantages beyond their fundamental nutritional composition. These foods generally include bioactive chemicals that can benefit health when ingested as part of a regular diet. Functional foods are intricately linked to the notion that specific foods can enhance overall health and aid in preventing or managing diverse health issues.

Moreover, the primary stakeholders are launching innovative products in this category to enhance their market dominance. In November 2022, the Functional food business You Again launched a selection of raw wildflower honey infused with herbs and botanicals. This product line aims to enhance digestive health and boost immunity. These factors enhance the growth of the segment.

Based on form, the global nutritional supplements market is segmented into powder, tablets, capsules, liquid, soft gels, and others.

The powder segment is the most significant contributor to the market. Powdered nutritional supplements are dietary supplements that are in a powdered form and intended to be blended with liquids or food before ingestion. These supplements generally contain highly concentrated vitamins, minerals, amino acids, plants, or other advantageous components. Powdered nutritional supplements have numerous benefits, rendering them a favored option for many persons.

Powders can be readily blended into various liquids, such as water, juice, smoothies, or shakes. Due to their adaptability, they are well-suited for individuals who experience challenges in swallowing pills or capsules. In addition, they can be readily blended with various beverages, such as water, juice, smoothies, or shakes. Due to their adaptability, they are well-suited for individuals who experience challenges in swallowing pills or capsules.

Based on consumer groups, the global nutritional supplements market is bifurcated into infants, children, adults, pregnant, and geriatric.

The adult segment owns the highest market share. Adults increasingly prioritize their health, actively seeking methods to enhance and sustain their well-being. With the increasing recognition of the significance of nutrition for overall well-being, adults are increasingly resorting to supplements to address nutritional deficiencies and enhance their health objectives. Modern lifestyles frequently include busy schedules, resulting in inadequate dietary practices and insufficiencies in key nutrients. Thus, adults prefer nutritional supplements as a handy and expeditious means to guarantee the intake of vital vitamins, minerals, and other nutrients. Moreover, adults who participate in physical activities, sports, or fitness regimens frequently utilize supplements to aid muscle regeneration, improve performance, and fulfill their heightened nutritional requirements.

Based on the distribution channel, the global nutritional supplements market is bifurcated into brick-and-mortar and e-commerce.

The brick-and-mortar segment contributed to the largest market share. Brick-and-mortar distribution channels are the conventional, physical retail outlets where nutritional supplements are sold directly to consumers in a physical location, like a store, shop, or dealership. These channels encompass the existence of a physical retail location or structure where customers can personally come to make purchases. Within physical retail outlets, clients can engage with various types of nutritional supplements, physically observe them, and obtain guidance from sales personnel. Direct interpersonal communication is a distinctive characteristic of brick-and-mortar channels compared to online or virtual platforms.

Market Size By Product Type

Market Size By Product Type
  • Sports Nutrition
  • Dietary Supplements
  • Fat Burner
  • Functional Food
  • Others
  • Recent Developments

    • January 2024- Shaklee, a prominent company in the health and wellness industry, introduced a novel range of supplements specifically formulated to address various health and wellness issues prevalent in today's society. These supplements target concerns such as stress, mood, energy, sleep, gut health, hair, skin and nails, healthy aging, and women's health.
    • September 2023- Dnine Sports introduced a collection of products specifically tailored to cater to the distinct requirements of athletes, especially those who play cricket at a professional level. The company has introduced nutrition supplements, such as whey protein, all of which have undergone thorough testing by FSSAI, ISO, and GMP.

    Top Key Players

    Nutritional Supplements Market Share of Key Players

    Nutritional Supplements Market Share of Key Players
    Glanbia PLC Abbott Nestlé Health Science PepsiCo Herbalife International of America, Inc. Clif Bar & Company Science in Sport plc THG PLC Amway Corp. CSN Others

    Frequently Asked Questions (FAQs)

    How big is the Nutritional Supplements Market?
    The global nutritional supplements market size was valued at USD 361.25 billion in 2022. It is estimated to reach USD 612.92 billion by 2031, growing at a CAGR of 6.05% during the forecast period (2023–2031).
    Asia Pacific has the highest growth in the global market.
    Key verticals adopting the market include: 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.
    Rising Prevalence of Chronic Diseases and Nutritional Deficiencies and Growth in Geriatric Population are the key drivers for the growth of the global market.
    The powder segment is the most significant contributor to the market.


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