The global nutritional supplements market is expected to hit US$ 624.7 billion by 2030 and is expanding growth at a noteworthy CAGR of 7.1% over the forecast period 2021 to 2030.

Tokyo, Nov. 03, 2021 (GLOBE NEWSWIRE) -- The global nutritional supplements market size was valued at US$ 314.6 billion in 2020, according to new report study by Precedence Research. Nutritional supplements are used to treat the deficiency of essential nutrients in the body such as vitamins, minerals, fibers, omega-3, and proteins. The busy and hectic lifestyle of people results in unhealthy food habits and lack of maintenance of proper diet. Therefore, people opt for nutritional supplements in order to fulfil their daily nutritional needs.

The growing burden of diseases, rising prevalence of obesity and overweight and sedentary lifestyle of the population is increasing fostering the adoption of nutritional supplements among the consumers across the globe. The development of the immune system highly depends on the stomach, hence dietary supplements are necessary for the development of strong immune system. A strong immune system helps to prevents diseases and fosters the recovery from any illness.

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Crucial factors accountable for market growth are:

• Rising health consciousness
• Increasing consumer expenditure on health and wellness
• Rising burden of malnutrition
• Demand for a healthy and active lifestyle
• Rising participation of youth in sports and fitness activities
• Busy and hectic schedules of the consumers
• Rising number of working population
• Growing demand for functional foods
• Increasing government initiatives to eliminate malnutrition among children
  
  

Report Scope of the Nutritional Supplements Market

Report Coverage	Details
Market Size in 2020	US$ 314.6 Billion
Growth Rate From 2021 to 2030	CAGR of 7.1%
Largest Market	Asia Pacific
Segments Covered	Form, Product, Age Group, Distribution Channel, Region
Regional Scope	North America, Europe, APAC, Rest of the World

Regional Snapshots

Asia Pacific was the dominating nutritional supplements market in 2020. Asia Pacific is the home to around 60% of the global population. The rising prevalence of malnutrition among kids, obesity, underweight, and overweight issues among the adults are the various factors propelling the growth of the nutritional supplements market. The high number of young population in Asia Pacific are increasingly participating in various sports and athletic activities. Further, the rising popularity of gyms and fitness centers is fueling the demand for the sports nutrition supplements across the Asia Pacific countries. Further, the nations like India, China, and Philippines are becoming the manufacturing hub for the nutritional supplements. Key market players are investing heavily in the region for the research activities and setting up manufacturing plants owing to the easy availability of raw materials and cheap labor.

On the other hand, Latin America is expected to show the highest growth rate during the forecast period. Rising health awareness and increasing consumer expenditure on health and wellness products is the major driving force of the nutritional supplements market in the region.

North America was the second largest market for the nutritional supplements in 2020 and is expected to sustain its significance throughout the forecast period. This is attributed to the increased disposable income, increased health awareness of the consumers, sedentary life style of the consumers, and unhealthy food habits of people.

Market Dynamics

Drivers - The global nutritional supplements market is majorly driven by the growing nutritional consumption needs of the consumers. In today’s time, maintaining a proper diet has become a luxury. Most of the people busy working and this results in lack proper intake of nutritional diet. Therefore, the adoption of nutritional diet is on its rise among the global population owing to the ease and convenience along with the nutritional benefits offered by the various forms of nutritional supplements.

Restraints - The high costs of the nutritional supplements is the major issue that may restrict the adoption of nutritional supplements among the low income consumers and may hamper the market growth in the underdeveloped economies during the forecast period.

Opportunities - The demand for the dietary supplements is increasing among the millennials owing to its immunity boosting properties. Further nootropics is gaining traction. Nootropics is a class of compounds that helps in maintaining brain health and its smooth functioning. It is anticipated that in the upcoming years, demand for those nutritional supplement will rise that helps maintaining the brain health.

Challenges - The nutritional supplements industry faces the difficulties of government approval. The respective authorities imposes strict regulations for the nutritional supplements to be marketed. This is a major challenge faced by the industry.

Report Highlights

• By form, the capsules segment is expected to be the fastest growing due to its easy availability and convenience. The advanced multi-layered capsules perfectly and instantly helps to fulfil the nutrients deficiency. Therefore, the consumption of multivitamins is increasing among the consumers, thereby fostering the segment growth.
• By product type, the dietary supplements is expected to witness highest growth rate owing to the rising demand for the dietary fibers among the global population. The increased health consciousness among the population have led to the increased awareness regarding the development of a strong immune system.
• By age group, the adults is the dominating segment and is estimated to retain its position during the forecast period. Increasing participation in sports, increasing participation in fitness centers, rising disposable income, rising number of working population, and increased health awareness among the young adults is fostering the growth of this segment.
• By distribution channel, the e-commerce segment is estimated to be the most opportunistic segment. The rising penetration of internet and growing popularity of e-commerce platforms is boosting the market. Further, the rapid growth of several online pharmacies is positively impacting the segment growth.

Segments Covered in the Report

By Form

• Powder
• Tablets
• Capsules
• Liquid
• Soft gels
• Others

By Product Type

• Sports Nutrition
• Dietary Supplements
• Fat Burner
• Functional Food
• Others
  
  

By Age Group

• Kids
• Adults
• Geriatric
  
  

By Distribution Channel

• Supermarkets/Hypermarkets
• Specialty Stores
• Pharmacies
• E-commerce
• Others
  
  

By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

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