According to the latest research reports, the health supplements market size is predicted to grow at a CAGR of 7.18% during the forecast period, 2017 – 2023. Health supplements can help reduce the risk of disease, but they should not be mistaken for a complete meal, which is essential for a balanced diet. Rheumatic illnesses, cardiology, and allergies can all health benefits supplements. As a result, the health supplements market benefits from a diverse set of applications. Additionally, rising awareness of the need of enhancing one's health is propelling the health supplement industry forward.
To enhance their health, the majority of folks throughout the world now use health supplements vitamins. A health supplement is a product that combines vitamins, minerals, botanicals, amino acids, enzymes, and a variety of other ingredients in the shape of tablets, capsules, soft gels, gelcaps, liquids, or powders to provide the body with additional nutritional value. Growing awareness of the functional benefits of heart health supplements, increasing urbanization and changing lifestyles, growing concerns about maintaining health to avoid later treatment, ensuring adherence to recommended dietary requirements, treating illnesses, preventing disease occurrence, growing media influence, and friend recommendations are all factors influencing the market growth of health supplements. However, unfavorable publicity and fake commitment are two variables that may stymie industry expansion. Furthermore, a lack of knowledge about the dose of supplements to be ingested is projected to limit the growth of the dietary supplements market during the forecast period.
This report contains all the information on the health supplements market, vitamins supplement market, and the market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the health supplements market and forecast for 2022 is also included in the report.
Covid 19 Analysis
The global demand for health supplements is skyrocketing as a result of the COVID-19 epidemic. This increase can be attributed to a growing public awareness of health and well-being. They are constantly eating immune boosters containing omega-3 fatty acids, mineral supplements, herbal extracts, immune health supplements market, and vitamins in order to avoid any form of infectious sickness. Disruptions in the supply chain network are one of the major risks that might arise.
Globally, the market for natural health supplements has expanded dramatically in recent years. This is due to greater health consciousness among customers, which has resulted in a move toward healthy and nutritional food selections. Consumers desire non-prescription healthy solutions. Furthermore, there is growing consumer awareness of self-diagnosed channels and customized regime possibilities provided by various health manufacturers and retailers via several internet platforms.
The market for health products is expanding as a result of this. Furthermore, natural health supplements are widely accessible over the counter. These reasons are obviously encouraging the natural health supplements market's growth.
In recent years, there has been a growing trend among the world's main populations to embrace a healthy lifestyle. As a result, their usage of natural health supplements is increasing. This aspect is fueling demand in the global market for natural health supplements. Aside from that, higher research and development efforts are expected to propel the natural health supplements market forward in the approaching years.
Some of the obstacles that may stymie industry expansion include unfavorable publicity and fake commitment. Furthermore, throughout the projected period, the dietary supplements market is likely to be constrained by a lack of understanding regarding the dose of supplements to be ingested.
Health supplements, which demand large investments, rely heavily on research and development. Furthermore, rigorous rules governing health benefits claims and product labeling are projected to provide challenges to the market over the projection period.
Cumulative Growth Analysis
According to research issued by the Council for Responsible Nutrition in 2015, American dietary association, around 68 percent of Americans use dietary supplements, and 84 percent of Americans are confident in the supplements' safety, quality, and efficacy. Adults dominated the market, accounting for 47.2 percent of total sales in 2020. Working adults' changing lifestyles and rigorous work schedules are causing nutritional inadequacies, which are projected to lead to increased intake of dietary supplements.
The rising incidence of obesity, cardiovascular disease, diabetes, and other associated illnesses among people worldwide is likely to drive the market. Over the projection period, the growing acceptability of sports as a professional job is predicted to increase demand for immune health supplements such as proteins, vitamins, and amino acids.
Value Chain Analysis
According to the reports, The worldwide nutritional supplement market is divided into four categories: kinds, applications, ingredients, and end-users. Dietary supplements, bodybuilding supplements, eye health supplements, specialized supplements, and others are the many types of supplements. The health supplements market is divided into cardiology, rheumatic illnesses, allergies, and other categories based on the application. It is divided into vitamins and minerals, amino acids, botanicals, enzymes, and others based on the constituents. It is divided into hospitals, clinics, research facilities, and other categories based on the end-user.
Figure: Global Health Supplements Market, By Region Market Share, 2016 (%)
Sources: Annual reports, Press release, White paper, Company presentation
The market is segmented on the basis of kinds, applications, ingredients, and end-users. The health supplements market is expected to witness decent growth during the forecast period.
Based on the application, the market is segmented into cardiology, rheumatic illnesses, allergies, and others.
Based on the propulsion types, the market is segmented into hospitals, clinics, research facilities, and others.
According to the latest research reports, the health supplements market is divided into America, Europe, Asia Pacific, the middle east & Africa. The Americas lead the health supplements market due to the presence of big market participants in this area, which are offering top nutritional supplement brands in the world in order to get a large market share. Furthermore, government assistance for research and development, as well as the availability of research funding, are increasing the health supplement business. This is projected to drive the Americas market for the foreseeable future. Countries such as the United States and Canada, for example, are expanding their investments in healthcare.
Europe is the second-largest market for health supplements in the world, owing to the availability of improved goods, rising knowledge of the advantages of health supplements, high healthcare expenditures, and increased government funding for research and development. Furthermore, rising R&D efforts and the concentration of big corporations in this area have fueled the nutritional supplements market size rise. Due to rapidly expanding healthcare technologies, a large patient population, and high healthcare expenditure, Asia Pacific is the fastest expanding health supplement industry. Furthermore, due to the rising demand for high-quality goods in countries such as India and China, this area is expected to become the world's fastest-growing market. In the Middle East and Africa, on the other hand, the health supplement market is growing slowly due to a lack of accessible cash and healthcare knowledge.
The health supplements market for natural products is quite fragmented. The existence of several international-level enterprises in this sector is a key element contributing to this predicament. As a result, the market for natural health supplements has a somewhat aggressive competitive environment to the vitamin and supplement industry statistics. To retain their market leadership, players in the natural immune health supplements market employ a variety of organic and inorganic techniques.
Major key Players
The following report comprises of –
Countries such as the United States and Canada are expanding their investments on healthcare. This market's growth has been fueled by increasing R&D activity and the concentration of big enterprises in this area.
Health Supplements Market, By Type
Health Supplements Market, By Application
Health Supplements Market, By Ingredients
Health Supplements Market, By End-Users
Health Supplements Market, By Regions
Sources: Annual reports, Press release, White paper, and Company presentation
|Market Size||Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors and Trends|
|Segments Covered||Type, Application, Ingredients and End User|
|Geographies Covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Vendors||Herblife International (U.S.), BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), Glanbia plc (Republic of Ireland), Abbott Laboratories (U.S.), Alticor Inc. (U.S.), The Nature's Bounty Co. (U.S.), Bayer AG (Germany), GlaxoSmithKline Limited (U.K)|
|Key Market Opportunities||Applications Area|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The outlook of the health supplements market looks very promising.
Health supplements market is projected to grow at approximately 7.18% CAGR during the assessment period (2017-2023).
Increasing urbanization & changing lifestyles, awareness about the functional benefits of health supplements, and growing health concerns are the major tailwinds pushing the growth of the global health supplements market.
North America holds the largest share in the global health supplements market, followed by Europe and the Asia Pacific, respectively.
BASF SE, Herblife International, E. I. du Pont de Nemours and Company, Glanbia plc, Advocare International, Abbott Laboratories, Chemi Nutra, iosyntrx, Inc., Novartis AG, HORN Nutraceuticals, NBTY Inc., A1 Supplements, Cerebral Success, Enzymotec USA, Vital Basics Inc., NOW Foods, OptiMind, General Nutrition Companies, Omega Protein, Alticor Inc., Pro Health, The Nature's Bounty Co., GlaxoSmithKline Limited, Bayer AG, Onnit labs, and Accelerated Intelligence, are some of the major players operating in the health supplements market.