North America Wellness Supplements Market was worth USD 78.89 billion in 2021 and estimated to be growing at a CAGR of 5.99%, to reach USD 105.52 billion by 2026.
Wellness supplements are substances that you eat or drink and contain vitamins, minerals, herbs or other plants, amino acids or parts of these substances with the intention of providing the human body with nutrition to supplement a balanced diet. They can come in various forms including pills, capsules, tablets or in liquid form. They only serve as a supplement for the diet and should not be considered as a substitute.
Inspite of their health benefits, they also pose a significant threat to your heath if consumed in excessive quantities. Like conventional medicines, dietary supplements also cause side effects in some cases or may trigger allergic reactions. Some common examples include, use of calcium and vitamin D supplements for stronger bones and use of folic acid supplements by pregnant women to prevent birth defects.
Factors driving the growth of the wellness supplements market in this region include rising geriatric population, include growing incidence of chronic diseases and increasing focus of consumers towards healthy lifestyles. The high demand for dermo-cosmetic products in the region is another driver for the market. The high number of diabetics and lactose intolerant patients also form a niche market that drives the industry. Inspite of being a financially rich region, the excessive costs of the products still put most high-end wellness products beyond the reach of the normal man. This along with the numerous protocols regarding manufacture of wellness supplements is expected to restrain the market.
The North America Wellness Supplements market is broadly classified based on products into Dietary Supplements such as Vitamin, Mineral, Protein and Herbal, Fortified Food & Beverages such as Omega Fatty Acid, Probiotic Food, Branded Iodinated Salt, Branded Wheat Flour, Energy Drinks, Sports Drinks and Fortified Juices, Food Intolerance Products such as Gluten-free, Lactose-free and Diabetic food and Dermo-Cosmetic Skin Essentials such as Anti-Aging, Anti-Cellulite and Anti-Acne Supplements.
Geographically the North America Wellness Supplements Market is segmented into US, Canada and Rest of North America. The North American market is expected to dominate in the coming years as well, it is currently the largest revenue generator of the segment and holds over a third of the market share. The CAGR of the region is low as compared to other regions but this can be attributed to the fact that the region is mostly developed.
Key Players in the Market:
Major Key Players in the North America Wellness Supplements Market are
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1.2 Dietary Supplements
5.1.3 Fortified Food & Beverages
5.1.4 Food Intolerance Products
5.1.5 Dermo-Cosmetic Skin Essentials
5.1.6 Y-o-Y Growth Analysis, By Product
5.1.7 Market Attractiveness Analysis, By Product
5.1.8 Market Share Analysis, By Product
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Product
6.1.5 Market Share Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
6.2 United States
7.1 PESTLE analysis
7.2 Porter’s Five Analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Abbott Laboratories
8.4 Otsuka Holdings
8.6 Archer Daniels Midland Company
8.7 Glanbia Inc.
8.8 NBTY Inc.
8.9 GNC Holdings
8.10 Nu Skin Enterprises
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
Talk to our analyst and get customised report done according to your research needs
Check if you can avail any discount. Submit your details and our team will get back to you.
Request to avail a free sample report that reflects this market and its growth.