Wellness Supplements Market size was valued at USD 151.9 billion in 2021 and is projected to reach around USD 390.0 billion in 2030 exhibiting a CAGR of 9.0% in the forecasted period.
Known as compounds that are anticipated to increase the nutritional value of the diet for improved health, wellness supplements. Health supplements are essential to maintaining a healthy lifestyle. The total amount of minerals in supplements is sufficient to meet daily requirements for a healthy existence. Frequently found in food supplements are calcium, folic acid, vitamin D, and vitamin b12.
The majority of people today utilise health supplements and vitamins to improve their health. A health supplement is a product that combines vitamins, minerals, botanicals, amino acids, enzymes, and a range of other components to give the body additional nutritional value in the form of tablets, capsules, soft gels, gelcaps, liquids, or powders. The market for health supplements is growing due to a variety of factors, including rising urbanisation and changing lifestyles, rising concerns about maintaining health to avoid later treatment, ensuring adherence to advised dietary requirements, treating illnesses, preventing disease occurrence, growing media influence, and word-of-mouth recommendations from friends. However, negative publicity and phoney devotion are two factors that could impede market growth.
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Key Companies Insights
Key players are aiming on their technological partnerships, collaborations, and merger & acquisitions policies to gain a competitive edge and expand their product portfolio & business footmark. The ongoing COVID-19 pandemic hindered the healthcare systems worldwide and driven market players to update products for unexploited prospects.
Some of the key players operating in the global wellness supplements market include:
- Life Extension
- OPTAVIA LLC
- Beachbody LLC
- Nature’s Sunshine Products, Inc.
- Organo Gold
- Thrive Life, LLC
- Phytoscience Trévo
- Oriflame Cosmetics AG
- Melaleuca Inc
- Amway
- Shaklee Corporation
- Arbonne International, LLC
- Forever Living.com
- Juice Plus+
- Abbott
- Herbalife International of America, Inc
- Isagenix Worldwide LLC
- Nikken Inc
- Wellness Resources, Inc
- The Daily Wellness Company
- Otsuka Holdings Co. Ltd
- Glanbia plc
- Nestle
- Nuskin
- USANA Health Sciences
- Other players
Some of the Recent Developments:
- In February 2018, Archer Daniels Midland Company (ADM) signed an agreement with Cargill to initiate a joint venture for offering soybean meal and oil for customers in Egypt.
- In September 2017, Archer Daniels Midlands Company (ADM) collaborated with Mayo Clinic for personalized nutrition products.
Segments
By Dietary Supplements
- Vitamins
- Minerals
- Botanicals
- Probiotics
- Fatty Acids
- Proteins
- Others
By Functional Food & Beverages
- Functional Bakery and Confectionary
- Functional Dairy
- Energy Drink
- Sports Drink
- Infant Formula and Baby Food
- Others
By Consumer Groups
- Infants
- Children
- Adults
- Pregnant
- Geriatric
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