The nutritional supplements market is expected to grow at a CAGR of 6.5% during the forecast period of 2024 to 2032, driven by key drivers such as increasing health awareness, the sports and fitness trend, and the popularity of weight management products. However, regulatory challenges pose a notable restraint. Market segmentation highlights the dominance of specific product categories and consumer groups, while geographic trends emphasize regional variations in market dynamics. The competitive landscape underscores the strategic efforts of key players to navigate this dynamic market and capitalize on emerging opportunities. As the industry evolves, adherence to regulatory standards and continued innovation will be crucial for sustained success.
Increasing Health Awareness
The rise in health consciousness among consumers is a significant driver for the nutritional supplements market. Individuals are increasingly prioritizing preventive healthcare and are turning to nutritional supplements to fill nutritional gaps in their diets. This trend is substantiated by a surge in demand for products such as dietary supplements and functional foods and beverages.
Sports and Fitness Trend
The growing interest in sports and fitness activities is propelling the demand for sports nutrition products. Athletes and fitness enthusiasts are seeking specialized nutritional supplements to enhance performance, support recovery, and achieve their fitness goals. This trend is evident in the consistent revenue growth of sports nutrition products.
Popularity of Weight Management Products
The prevalence of weight management concerns globally is driving the demand for fat burners in the nutritional supplements market. Consumers are actively seeking products that aid in weight loss and support healthy metabolism. This trend is reflected in the sustained popularity of fat burner supplements.
Market Restraint
Despite the positive trends, the market faces a notable restraint related to regulatory challenges. Governments worldwide are implementing stricter regulations on the manufacturing and marketing of nutritional supplements. Compliance with these regulations poses challenges for market players, impacting the overall growth of the industry. This is particularly evident in the increasing scrutiny of health claims and the need for scientific substantiation.
Market Segmentation by Product: Sports Nutrition Dominates the Market
Sports Nutrition: In 2023, sports nutrition emerged as a leading product segment, capturing a significant share of the market revenue. The increasing adoption of active lifestyles and the emphasis on fitness contributed to the high demand for sports nutrition products. The segment is expected to maintain a robust Compound Annual Growth Rate (CAGR) during the forecast period from 2024 to 2032.
Fat Burners: Fat burners, addressing the weight management trend, also witnessed substantial revenue in 2023. However, the segment's CAGR during the forecast period is expected to be noteworthy, reflecting sustained consumer interest in weight loss solutions.
Dietary Supplements: Dietary supplements, encompassing a wide range of health-promoting products, secured considerable revenue in 2023. The segment is expected to maintain a steady CAGR, driven by the ongoing health awareness and preventive healthcare trend.
Functional Foods and Beverages: The functional foods and beverages segment exhibited both high revenue and a promising CAGR in 2023. Consumers are increasingly incorporating these products into their daily routines for their perceived health benefits.
Market Segmentation by Consumer Group: Adults Segment Dominate the Market
Adults: Among different consumer groups, adults constituted the highest revenue in 2023. The demand for nutritional supplements among adults is driven by diverse health needs, including energy, immune support, and overall well-being. The segment is anticipated to maintain a substantial CAGR during the forecast period.
Geriatric: The geriatric consumer group also demonstrated significant revenue in 2023, reflecting the growing aging population globally. The need for nutritional support to address age-related health concerns contributes to the segment's consistent growth, with a noteworthy CAGR expected from 2024 to 2032.
North America Remains the Global Leader
The nutritional supplements market exhibits diverse geographic trends, with varying revenue contributions and CAGR across regions.
The region with the highest revenue in 2023 was North America, driven by high consumer awareness and well-established distribution channels.
The region with the highest CAGR during the forecast period (2024-2032) is Asia-Pacific, indicating a growing market potential and evolving consumer preferences in the coming years.
Market Competition to Intensify during the Forecast Period
The nutritional supplements market is characterized by intense competition among key players, including Amway, Herbalife, Abbott Laboratories, Glanbia PLC, Nestlé Health Science, PepsiCo, Clif Bar & Company, Science in Sport plc, THG PLC and CSN. These companies employ strategic measures such as product innovation, mergers, and acquisitions to strengthen their market position. In 2023, the total market revenues for these players were [provide actual revenue figures], with an expected increase during the forecast period from 2024 to 2032.
Historical & Forecast Period
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation ofNutritional Supplements market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report:
Micro and macro environment factors that are currently influencing the Nutritional Supplements market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Market Segmentation
Product
Sports Nutrition
Sports Supplements
Protein Supplements
Egg Protein
Soy Protein
Pea Protein
Lentil Protein
Hemp Protein
Casein
Quinoa Protein
Whey Protein
Whey Protein Isolate
Whey Protein Concentrate
Vitamins
Minerals
Calcium
Potassium
Magnesium
Iron
Zinc
Amino Acids
BCAA
Arginine
Aspartate
Glutamine
Beta-Alanine
Creatine
L-carnitine
Probiotics
Omega-3 Fatty Acids
Carbohydrates
Maltodextrin
Dextrose
Waxy Maize
Karbolyn
Detox Supplements
Electrolytes
Others
Sports Drinks
Isotonic
Hypotonic
Hypertonic
Sports Foods
Protein Bars
Energy Bars
Protein Gel
Meal Replacement Products
Weight Loss Product
Fat Burners
Green Tea
Fiber
Protein
Green Coffee
Others
Dietary Supplements
Vitamins
Multivitamin
Vitamin A
Vitamin B
Vitamin C
Vitamin D
Vitamin E
Minerals
Enzymes
Amino Acids
Conjugated Linoleic Acids
Others
Functional Foods and Beverages
Probiotics
Omega-3
Others
Consumer Group
Infants
Children
Adults
Age group 21 To 30
Age group 31 To 40
Age group 41 to 50
Age group 51 to 65
Pregnant
Geriatric
Formulation
Tablets
Capsules
Powder
Softgels
Liquid
Others
Sales Channel
Brick & Mortar
Direct Selling
Chemist/Pharmacies
Health Food Shops
Hypermarkets
Supermarkets
E-commerce
Region Segment (2021-2031; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Key questions answered in this report:
What are the key micro and macro environmental factors that are impacting the growth of Nutritional Supplements market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2031.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Nutritional Supplements market?
Which is the largest regional market for Nutritional Supplements market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Nutritional Supplements market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Nutritional Supplements market worldwide?
Table of Contents
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. Key Offerings
1.2. Market Segmentation
1.3. Research Methodology
1.3.1. Phase I - Secondary Research
1.3.2. Phase II - Primary Research
1.3.3. Phase III - Expert Panel Review
1.3.4. Assumptions
1.3.5. Approach Adopted
2. Executive Summary
2.1. Market Snapshot: Global Nutritional Supplements Market
2.2. Global Nutritional Supplements Market, By Product, 2023 (US$ Million)
2.3. Global Nutritional Supplements Market, By Consumer Group, 2023 (US$ Million)
2.4. Global Nutritional Supplements Market, By Formulation, 2023 (US$ Million)
2.5. Global Nutritional Supplements Market, By Sales Channel, 2023 (US$ Million)
2.6. Global Nutritional Supplements Market, By Geography, 2023 (US$ Million)
2.7. Attractive Investment Proposition by Geography, 2023