Wellness Supplements Market

Wellness Supplements Market Size, Growth (2023-2028)

The global Wellness Supplements Market size was worth US$ 183.1 billion in 2022, and it is estimated to reach a valuation of US$ 249.4 billion by the end of 2028, rising at an annual compound rate of 6.4% between 2023 and 2028. Growth in the dietary supplement market is primarily due to factors such as an increase in the elderly population and an increased prevalence of chronic diseases.

Market Overview:

Wellness Supplements are essential to maintain a healthy lifestyle. Supplements contain all minerals in sufficient quantities to meet the daily needs of a healthy lifestyle. Food supplements generally include calcium, vitamin D, folic acid, and vitamin b12. Pregnant women that are breastfeeding use these supplements because they are usually rich in folic acid. Strict vegetarians may not be able to get enough vitamin B12, zinc, and iron, and these tablets can supplement it. Wellness Supplements are substances intended to add nutritional value to your diet to promote health. Supplements are available in a variety of product forms, including dietary supplements, food intolerance products, fortified or functional foods and beverages, and essential skincare products.

Recent Developments in Wellness Supplements Industry:

• February 2018: A deal was made between Cargill Incand Archer Daniels Midland Company (ADM) to launch a joint enterprise for offering soybean meal and oil to customers in Egypt.
• In September 2017, the United States-based Archer Daniels Midlands Company (ADM) worked with Mayo Clinic, a non-profit academic medical center based in the United States, to provide personalized nutritional products. This trend is expected to accelerate growth in the target market during the forecast period.

REPORT COVERAGE:

Wellness Supplements Market Growth:

Market growth is accelerating with the benefits of wellness supplements, rising health care costs, and increased awareness of the consumer transition to nursing.

Drivers:

Increased health awareness among people around the world is one of the main factors driving the demand for global Wellness Supplements Market. Across the world, consumers are increasingly realizing the benefits of preventive health over treatment and are transitioning to a healthier lifestyle. Also, as supplements of wellness products increases, the market is revitalizing. The Wellness Supplements category is the sum of healthy food and drink products and complements. This supplement is taken with a regular diet to improve nutrition and promote health. The global Wellness Supplements Market is experiencing significant growth due to an aging population and related health problems, which are driving demand for nutritional supplements with proven health benefits.

Growth in the Wellness Supplements Market is primarily driven by factors such as increased interest in healthy lifestyles, higher disposable incomes in emerging countries, increased awareness of health products, and the transition from medical care to preventive health. The aging of the population is generally benefiting the market due to the weak immune system. Furthermore, as the disposable income of consumers in developing countries has increased, sales in the region have begun to expand the entire market. The aging of the population is generally benefiting the market due to the weak immune system. Furthermore, as the disposable income of consumers in developing countries has increased, sales in the region have begun to expand the entire market.

The main factors expected to drive the growth of the world Wellness Supplements Market during the forecast period are the increase in the elderly population and the prevalence of chronic diseases in several countries. Also, the growing awareness of the benefits of Wellness Supplements Market and rising health care costs, the move to preventive health care is another factor that accelerates growth in the target market during the outlook period. The current trend observed in target markets is changing the way people consume food. Additionally, interest in acquiring and merging players from leading players has increased to add innovative products to existing product portfolios, expand offerings, and strengthen Wellness Supplements Market presence.

Furthermore, the global market for Wellness Supplements is highly fragmented, with significant market participants taking advantage of several different effective strategies like expanding, joint ventures, mergers and acquisitions, new product launches, and an increase in footprint in this market. The main factors driving Wellness Supplements Market growth are long-term disease outbreaks, rising health care prices, a rising population of older people, and increased awareness of the benefits of dietary supplements. Therefore, in the near future, the global Wellness Supplements Market is assumed to grow more positively worldwide in recent years.

Restraints:

The high costs associated with these supplements, the lack of distinction between traditional food categories, and changes in regulatory policy are factors that limit the growth of the global Wellness Supplements Market. Additionally, the marketing of these supplements follows strict regulations, so changing regulatory policies have a negative impact on market growth.

Wellness Supplements Market Segmentation Analysis:

By Product:

• Dietary Supplements
  • • • Vitamin
      • Mineral
      • Protein And Herbal
• Fortified Food & Beverages
  • • • Omega Fatty Acid
      • Probiotic Food
      • Branded Iodinated Salt
      • Branded Wheat Flour
      • Energy Drinks
      • Sports Drinks
      • Fortified Juices
• Food Intolerance Products
  • • • Gluten-free
      • Lactose-free
      • Diabetic Food
• Dermo-Cosmetic Skin Essentials
  • • • Anti-Aging
      • Anti-Cellulite
      • Anti-Acne Supplements

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Analysis:

The North American Wellness Supplements Market is expected to dominate the worldwide business and will continue to maintain market dominance during the projection period. This is due to the increasing acceptance of wellness products in several countries in the region due to the increase in the population of older people. Furthermore, increased awareness of protein consumption among middle-aged adults in developed countries such as the United States and Canada, and the maintenance of optimal nutritional levels is expected to increase the demand for Wellness Supplements Market.

The Asia Pacific wellness supplement market is expected to post significant growth in terms of earnings during the prediction period due to increased disposable income and increased interest in healthy lifestyles. Furthermore, growth in the Asia-Pacific market is estimated to accelerate as awareness of strengthening/improving nutrition increases in emerging countries such as India, China, Indonesia and Malaysia. In addition, regulatory support for investment promotion along with the expansion of the retail market, government initiatives, are some of the factors that are foreseen to accelerate the growth of target Wellness Supplements Markets in this area in the coming years. The wellness supplements market in Europe is also envisioned to witness a notable increase in the foreseen period.

Key Players in the Market:

Major Key Players in the Global Wellness Supplements Market are

• Nestle                          
• Abbott Laboratories              
• Amway                        
• Otsuka Holdings                       
• Herbalife                    
• Archer Daniels Midland Company                    
• Glanbia Inc.               
• NBTY Inc.                    
• GNC Holdings                           
• Nu Skin Enterprises