Nutritional supplements are destined to supplement the diet, which is extracted from either food source or synthetic & animals. It is intended to intake in capsule or tablet and liquid forms, which are taken by mouth with an intention to supplements the diet of an individual. These supplements include protein, vitamin, minerals, and amino acid among other nutritional substances that may not be consumed with a regular diet. All the minerals & vitamins are required for healthy skin, hair, and nails. Due to such advantages, they are helpful in reducing extra calories & weight; consequently, growing awareness among people regarding health awareness is anticipated to drive the growth of the market over the forecast years. However, such products often include large doses of vitamins & minerals which may cause side effects such as diarrhea, constipation, and other stomach problems.
According to the study, “Global Nutrition & Supplements Market to reach USD 214.04 billion by 2026” the key companies operating in the global nutrition & supplements market are Pfizer Inc., Glaxosmithkline PLC, Amway, Abbott Laboratories, Suntory Holdings Ltd., Otsuka Holdings Co. Ltd., Glanbia PLC, Bayer AG, DuPont, and Sanofi S.A.
Based on type, the market is segmented as botanicals, vitamins, amino acids, minerals, protein, fatty acids, enzymes, and others. Based on function, the market is segmented as a medicinal supplement, additional supplement, and sports nutrition. Based on category, the market is segmented as children’s dietary supplements, infant dietary supplements, pregnant women dietary supplements, adult dietary supplements, old-aged dietary supplements, and others. In addition, based on the distribution channel, the market is segmented as pharmacy stores, hypermarket & supermarket, online channels, and others.
The market is driven by rising alertness among gym professionals & athletes towards calories reduction, followed by growth in awareness towards functional food and an increase in urbanization. However, volatility in raw material prices and stringent rules & regulations for dietary supplements may impact the market. Moreover, growth in technological advancement in manufacturing techniques which may include 3D Printing and collaboration & tie-up of leading players are key opportunities for the market. Furthermore, the rise in relevance for the preventive healthcare system, growth in innovation in terms of the introduction of nutraceutical products, and lifestyle enhancement products are major trends for the market.
Based on geography, the North-American region is the leading region in the global market owing to the rise in awareness among people regarding health management in the region. Whereas, the Asian-Pacific and European regions are expected to witness higher growth rate due to hectic work schedules among working individuals along with fluctuations in diet intervals over the forecast period. In the upcoming years, it is estimated that the future of the global market will be optimistic as a result of an increase in awareness about the health benefits of nutritional supplements during the forecast period. The global nutrition & supplements market is valued approximately at US $113.94 billion in 2019 and is expected to grow with a healthy growth rate of more than 8.2 % over the forecast period 2019 to 2026.
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