Global Wellness Supplement Market: Overview
It is estimated for the global wellness supplement market to witness growth at a CAGR of 8.1% during the forecast period of 2022 to 2030. The market witnessed growth at a stellar rate even during the previous forecast period of 2018 to 2021. Taking health supplements also helps prevent any deficiencies in vitamins, micronutrients and minerals in their body. It can also help sustain a healthy and active lifestyle. People often use health supplements for nutrients like Vitamin B12 and Vitamin D. This factor is estimated to boost the growth of the market during the forecast period.
Global Wellness Supplement Market - Growth Factors
The growing awareness about health among the younger generation is the major factor for the growth of the market during the forecast period. The growing awareness about the use of wellness supplements on the human body is also a factor that is driving the growth of the market during the forecast period. The increasing disposable income of the people is also a major factor that is letting them opt for wellness supplements that is estimated to drive the growth of the market during the forecast period. Also, the creation of awareness by various influential people about the use of wellness supplements on television and various other digital platforms is also a major reason for the growth of the market during the forecast period.
Global Wellness Supplement Market - Market Trends
The growing awareness about the use of wellness supplements on the human body is also a factor that is driving the growth of the market during the forecast period.
The increasing disposable income of the people is also a major factor that is letting them opt for wellness supplements and this factor is estimated to drive the growth of the market during the forecast period.
However, the dearth of distinction from traditional food categories is further projected to impede the growth of the wellness supplements market in the timeline period.
Global Wellness Supplement Market Segmentation
The global wellness supplement market has been sub-classified into by dietary supplements and by functional foods and beverages.
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
Global Wellness Supplement Market Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market.
Global Wellness Supplement Market Key Market players
Life Extension, OPTAVIA LLC, Beachbody LLC, Nature's Sunshine Products, Inc., Organo Gold., Thrive Life, LLC, Phytoscience Trvo, 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, Nikken Inc., Wellness Resources, Inc., The Daily Wellness Company, Otsuka Holdings Co. Ltd, Glanbia plc, Nestle, Nuskin, and USANA Health Sciences, are some of the major players that are boosting the growth of the market during the forecast period.
