Over the projection period of 2022 to 2030, the worldwide wellness supplement market is expected to develop at a compound annual growth rate (CAGR) of 8.1%. The market expanded at an extraordinary rate even in the preceding projection period, which ran from 2018 to 2021. Taking dietary supplements also aids in preventing the body from being deficient in vitamins, minerals, and micronutrients. Additionally, it helps support an active and healthy lifestyle. People frequently utilize vitamin D and B12 pills as part of their wellness regimen. During the projected period, this aspect is expected to support the market’s expansion.
Nutritional supplements that support overall health and well-being are known as wellness supplements. These supplements often include natural ingredients that offer a range of health advantages, such as vitamins, minerals, botanicals, amino acids, or other substances. Supplementing a balanced diet and lifestyle with wellness supplements is common practice, to address any potential nutritional deficiencies or offer extra support for specific health issues. Due to several factors, including growing consumer health consciousness, an increase in the need for preventative healthcare, and the growing popularity of self-care and customized wellness regimens, the worldwide market share has been steadily growing.
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Wellness Supplement Market Segmentation
By Dietary Supplements
- Vitamin
- Mineral
- Botanical
- Probiotics
- Fatty Acid
- Protein
- Others
By Functional Food & Beverages
- Functional Bakery and Confectionary
- Functional Dairy
- Energy Drink
- Sports Drink
- Infant Formula and Baby Food
- Others
Key Players
Some of the major players driving the market’s growth during the forecast period are Life Extension, OPTAVIA LLC, Beachbody LLC, Nature’s Sunshine Products, Inc., Organo Gold, Thrive Life, LLC, Phytoscience Trévo, Oriflame Cosmetics AG, Melaleuca Inc, Shaklee Corporation, Arbonne International, LLC., Forever Living.com, L.L.C., Juice Plus+, Herbalife International of America, Inc., and Isagenix Worldwide LLC. Other notable players include Nikken Inc., Wellness Resources, Inc., The Daily Wellness Company, Otsuka Holdings Co. Ltd, Glanbia plc, Nestle, Nuskin, and USANA Health Sciences.
Market Driver
The growing trend of wellness supplements is mostly attributable to people’s desire for healthier lives. Wellness supplements are a convenient and affordable way for people to complement their healthy lives as they become more health-conscious and look for ways to enhance their general well-being. The COVID-19 pandemic has made immune health and preventive measures even more important. The desire to strengthen their immune systems is driving growing interest in immune-boosting supplements among consumers. For instance, probiotics, zinc, vitamins C, and D, and other supplements have become more and more well-liked.
The Council for Responsible Nutrition (CRN) projects that in 2020, 43 percent of American supplement consumers would buy immune-health supplements. In addition, a growing number of seniors are embracing healthy living practices, such as supplementing with wellness products to improve their overall health. The globe Health Organization (WHO) projects that by 2050, there will be 2 billion people in the globe who are 60 years of age or older.
Growth Factors
The primary driver of market expansion over the projected period is the younger generation’s increasing health consciousness. Throughout the projection period, the market will continue to rise due in part to the increased public awareness of the benefits of using wellness supplements. Wellness supplements are predicted to fuel market expansion during the projection period, and one of the main factors allowing individuals to choose them is their rising disposable income. A significant factor in the market’s growth during the projected period is the spread of knowledge about the usage of wellness supplements by several well-known figures on television and other digital platforms.
Market Opportunity
Genetic testing has become a major tool in tailored nutrition. By analyzing an individual’s genetic composition, companies can identify genetic polymorphisms that may change nutritional metabolism, absorption, and response to certain food components. Companies that specialize in nutritionomics, like DNAfit and Nutrigenomix, offer genetic testing services that identify an individual’s genetic predisposition to certain medical conditions and nutritional needs. Based on the findings, customized supplement recommendations are given to optimize dietary intake.
Additionally, AI-powered tools examine enormous databases to generate personalized nutrition recommendations that take into account dietary restrictions, personal preferences, and health goals. An AI-powered program called Zoe uses information from many studies to forecast individual glycemic responses to various meals. With the use of personalized meal assessments, users may make more informed nutritional choices by seeing how different meals will affect their bodies.
Scope of the Report
This study provides estimates and data for the wellness supplement market for the past, present, and future. An extensive research approach was used to establish the market estimations that are included in the study. Multiple research channels are used in the accepted research approach, including primary, secondary, and subject-related expert input. The Seasonal Affective Disorder Market is estimated by taking into account the impact of many economic, social, and political aspects in addition to the present market dynamics. The market data is also defined by different laws, government expenditures, and the expansion of research and development. The market projections take into account both favorable and unfavorable changes in the market.
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