The global nutritional supplements market was valued at US$ 248.1 million in 2018, according to Nutritional supplements Market Report, by Ingredient (Vitamin, Protein, Fatty Acids, Botanical, Minerals, and Others), Form (Capsule, Powder, Tablet, Liquid, and Others), by Product Type (Dietary Supplements, Sports Supplements, Nutritional supplements, and Others), By Distribution Channel (Hypermarkets & Supermarkets, Pharmacy Stores, Online Channels, and Others), and by Region (North America, South America, Asia Pacific, Europe, and Middle East & Africa) published by Coherent Market Insights.
The global nutritional supplements market is expected to reach US$ 436.1 million by 2027, exhibiting a CAGR of 6.9% over the forecast period. Increasing demand for nutraceutical ingredients, which are commonly used in nutritional supplements, and demand for beauty supplements is driving growth of the nutritional supplements market.
According to the ’ analysis, the U.S. nutraceutical ingredients market was valued at US$ 5.83 billion in 2016, and is projected to increase to US$ 10.70 billion by 2025, witnessing a CAGR of 7.42% over the forecast period (2017-2025). More women are focusing on obtaining healthy skin, hair, nails, and others. Therefore, growing need to prevent premature skin aging, and preferences for effective and safe beauty solutions are expected to drive growth of the nutritional supplements market.
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Browse 138 market data tables* and 33 figures* on "Nutritional supplements Market” - Global forecast to 2027. Key Trends and Analysis of the Nutritional Supplements Market:
- Among ingredients, protein segment is expected to witness significant growth in the global nutritional supplements market. Increasing demand for natural and organic products is fueling growth of the nutritional supplements market. According to the Agricultural Market Information Company (AMI), in 2018, organic product demand had grown by around 8% in Germany. Additionally, the overall food sales in Germany grew by 5.5% to US$ 12.07 billion in 2018, with organic product sales accounting for a share of around 5.3%.
Key Takeaways of the Market:
- In 2018, Asia Pacific is expected to have significant market share in terms of value in the global nutritional supplements market. This is attributed to growing demand for nutraceuticals, and dietary and beauty supplements in this region. For instance, according to the International Trade Association (ITA), in China, the nutraceutical market is expected to reach US$ 40 billion by 2023, growing at a CAGR of 14%. Growing health-conscious behavior among consumers and use of botanicals is expected to drive growth of the nutritional supplements market.
- Europe is expected to witness significant growth in the global nutritional supplements market owing to rising aesthetic awareness among the populace and higher disposable income in the region. According to the Organization for Economic Co-operation and Development (OECD), the average household and net-adjusted disposable per capita income in Germany is US$ 34,297 annually.
- Key players are adopting in-organic growth strategies such as product launches in order to expand their presence in the Germany nutritional supplements market. For instance, in 2015, the Best Body Nutrition company launched a chocolate flavored protein shake that includes 50 grams of protein per bottle in Germany.
- Major players in the global nutritional supplements market include Abbott Laboratories, Archer Daniels Midland (ADM), American Health, Inc., Amway Corporation, Arkopharma Laboratoires Pharmaceutiques, Ayanda, DuPont, DSM, the Nature's Bounty Co., Herbalife International of America, Inc, Stepan Company, Pfizer Inc., Nestle S.A., Nature's Sunshine, and GlaxoSmithKline.