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Wellness Supplement Market Size, Industry Analysis Report By Dietary Supplements (Vitamin, Mineral, Botanical, Probiotics, Fatty Acid, Protein), By Functional Food & Beverages (Functional Bakery and Confectionary, Functional Dairy, Energy Drink, Sports Drink, Infant Formula and Baby Food) & Region – Forecasts

  • PUBLISHED ON
  • 06/12/2022
  • NO OF PAGES
  • 240
  • CATEGORY
  • Healthcare & Life Sciences
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 Trévo, 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.

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We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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