Nutrition and Supplements Market By Product (Sports Nutrition & Supplements, Proteins, Vitamins, Minerals, and Functional Foods), Distribution Channel (Online and Offline), Type (Capsule, Liquid, Powder, Softgel, Tablet, and Others) Age Group (Kids, Adults, Manufacturing, and Geriatric), and Region - Market Perspective, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast for 2023 – 2032
The global Nutrition and Supplements Market size was worth around USD 371 billion in 2022 and is anticipated to grow to around USD 831.13 billion by 2032 at a CAGR of around 8.4% between 2023 and 2032.
The nutrition and supplements market has been greatly influenced by increasing global health awareness. With the rising incidence of non-communicable illnesses, there has been an increasing acceptance of lifestyle interventions that can improve overall health. According to the World Health Organization (WHO), non-communicable illnesses account for more than 40 million deaths worldwide per year.
As a result, there has been an exponential growth in demand for immunity boosters, which can help reduce the risk of such illnesses. In addition, the trend towards fitness has led to a significant increase in demand for sports nutrition and supplements in recent years.
Although the demand for nutrition and supplements has increased globally, the regions of the Asia Pacific and North America have been the major contributors to revenue due to better disposable incomes and greater awareness of sustainable health practices.
Research and development are crucial factors for the progress of the market. However, it requires significant investments, resulting in higher prices of products compared to regular food products. This may be one of the factors that will restrain the market in the forecast period. Despite this, continued investment in R&D will be essential to address the growing demand for effective and sustainable health products.
- Based on the product, the functional foods segment held the largest market share
- Based on distribution channel, the offline segment generated the highest revenue
- Based on type, the powder segment has dominated the market share in 2022
- Based on age group, the adult segment is expected to continue leading the market
- Based on region, Asia Pacific accounted for the largest market share
Increasing Health Awareness Among Consumers
There has been a rise in focus on self-care in recent years owing to the rising number of chronic illnesses at the early stages of life. This is majorly due to sedentary lifestyles, and unhealthy food habits amongst other factors. The rising awareness of better dietary intake has resulted in increased demand for nutritional foods and other supplements. The inclusion of immunity boosters, organic food products, vitamins, and other minerals in the form of supplements has increased exponentially. These factors in turn have augmented the demand for better nutrition and supplements and are estimated to propel the market through the forecast period.
Sceptic Consumer Base and Counterfeited Products May Restrain Growth Trajectory
The nutrition and supplemental products are manufactured by extracting nutrients from plants, seafood, and dairy products amongst other sources. However, the inadequate widespread of these ingredients has made many consumers skeptical regarding safety issues associated with the use of such products and the side effects of the same. This is not the only factor imposing a challenge for growth. Counterfeiting of dietary supplements and nutritional foods will further impact the market as the quality of the supplements is not as per the regulated standards. However, the costs of counterfeit products are cheaper.
September 2022: An announcement was made by ADM regarding the opening of an extrusion facility located in Serbia. It was announced within a year after acquiring SojaProtein. The focus of this facility is to widen its footprint in Europe.
August 2022: A second-strategic-round of investments was announced by Amway with Holzapfel Effective Microbes (HEM), a South Korea-based company. These two parties have already been in a strategic partnership since 2020. The partnership was signed to develop personalized probiotics.
Based on product, the market is further categorized into sports nutrition & supplements, proteins, vitamins, minerals, and functional foods. Among these, Functional Foods dominate the segmental share globally due to the changing preferences of consumers. Consumers now opt for food products and beverages blended with nutritional ingredients such as necessary fibers, minerals, and vitamins. The rising health consciousness among people has led to an increased demand for these products. The evolution of chronic illnesses and infections has also made people realize the importance of incorporating nutritional and supplemental foods in their daily diets.
The Sports Nutrition & Supplements segment is expected to witness the fastest growth through the forecast period. This growth is supported by the global increase in participation in various sports, with the majority of participants being the youth.
Based on type, the market is further categorized into capsule, liquid, powder, soft gel, tablet, and others. The powder category dominated the market by accounting for more than 30% of segmental revenue due to widespread commercial availability as compared to others. It is also simpler to blend and absorb. Following powder type, the capsule is estimated to grow exponentially as the majority of the probiotics, vitamins, and omega-3 are available in capsule forms. Furthermore, the capsule benefits more than any other type owing to the possibility of the addition of multiple nutrients in one capsule.
Based on age group, the market is further categorized into kids, adults, and geriatric. The nutrition and supplements market is segmented based on age group, with categories including kids, adults, and geriatric. Among these, the adult segment holds the largest market share at 40%. This dominance can be attributed to the rise in sedentary lifestyles caused by stressful work modules, which have increased the risk of chronic illnesses. To combat this risk, many adults are turning to nutrition and supplements to provide their bodies with the necessary nutrients to maintain good health. These products offer the correct amounts of essential nutrients required for the adult age group, helping to promote overall well-being and reduce the risk of chronic diseases.
Asia Pacific Held the Largest Share Owing to Increasing Demand and an Abundance of Resources
The Asia Pacific region holds the largest share of the global nutrition and supplements market, accounting for over 37.7% of the total revenue. This dominance is driven by several factors, including the region's abundant resources and raw materials, which are available at a lower cost compared to other regions. This has led to an influx of investment capital, contributing to the growth of the market.
Additionally, rising health consciousness and a growing population have also played a role in driving demand for nutrition and supplements in the region. China is the largest contributor to the market, accounting for over 40% of the total revenue. Other significant countries in the region, such as India and Japan, are also contributing to the market's growth.
North America to Observe Significant Progress Through Forecast Period
North America holds a significant share of the global nutrition and supplements market, accounting for over 30% of the total revenue. This growth is driven by several factors, including the increasing use of dietary supplements and nutrition products with a low-calorie count due to rising health and wellness awareness among consumers.
Additionally, the decreasing nutritional quality of normal food products has also contributed to the growth of this market in North America. Recent product developments and business developments, such as acquisitions and partnerships, are expected to further drive the growth of the market in the region.
The United States has been the most prominent country in the North American market, contributing the majority of the revenues in recent years. However, Mexico and Canada are also expected to experience significant growth in the forecast period, as consumers in these countries become more health-conscious and seek out nutrition and supplement products to support their well-being.
- Glanbia PLC
- AMWAY CORP.
- BA SPORTS NUTRITION, LLC.
- GSK PLC
- HERBALIFE INTERNATIONAL OF AMERICA, INC.
The global Nutrition and Supplements market is segmented as follows:
- Sports Nutrition & Supplements
- Functional Foods
By Distribution Channel
By Age Group
- North America
- The U.S.
- The UK
- Nordic countries
- Benelux Reunion
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Nutrition and Supplements Market By Product