Global Wellness Supplements Market was worth USD 183.2 billion in 2016 and estimated to be growing at a CAGR of 6.45%, to reach USD 250.41 billion by 2021.
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Wellness supplements are additional substances introduced into the human diet to add further nutritional value for enhanced health. Supplements generally include vitamins, minerals, fiber, fatty acids and amino acids.
According to the FDA, supplements are defined as products which are not pharmaceutical drugs, food additives or conventional food and which is intended to supplement a person’s diet.
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The intended use of wellness supplements is to ensure that a person gets enough essential nutrients.
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They cannot be used to treat any disease or as a preventive measure for any disease. Supplements may also cause harm in several ways when they are over-consumed, particularly in the case of minerals and fat-soluble vitamins which can accumulate in the body.
Their rapid absorption in a short period of time can also cause harm to the body.
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The rise of the wellness supplements market is mainly driven by factors such as rising geriatric population, growing prevalence of chronic diseases, rising awareness about benefits of wellness supplements and rising healthcare costs. The decreasing mortality rates have increased the percentage of aging population.
Inspite of the numerous pros, the market is hampered by the high pricing of this products that make them out of the reach of most parts of the society. Regulatory compliance is another reason that the market does not grow freely.
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The Global Wellness Supplements market is broadly classified based on products into Dietary Supplements such as Vitamin, Mineral, Protein and Herbal, Fortified Food & Beverages such as Omega Fatty Acid, Probiotic Food, Branded Iodinated Salt, Branded Wheat Flour, Energy Drinks, Sports Drinks and Fortified Juices, Food Intolerance Products such as Gluten-free, Lactose-free and Diabetic food and Dermo-Cosmetic Skin Essentials such as Anti-Aging, Anti-Cellulite and Anti-Acne Supplements. Based on geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
The Wellness Supplements Market is dominated by North America in 2016 with the region accounting for 38% of the overall market share. North America was followed next in line by Europe and Asia-Pacific.
Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. Another market that shows promise in the coming years is Latin America.
The major market players in the wellness supplements market are Nestle S.A. (Switzerland), Abbott Laboratories (U.S.), Amway (U.S.), Otsuka Holdings Co., Ltd. (Japan), Herbalife Ltd. (U.S.), Archer Daniels Midland Company (U.S.), Glanbia plc (Ireland), NBTY, Inc. (U.S.), GNC Holdings Inc. (U.S.), and Nu Skin Enterprises, Inc. (U.S.). Other players in the market include Grupo Omnilife (Mexico), Forever Living (U.S.), Pola, Inc. (Japan), Shaklee Corporation (U.S.), and Usana Health Sciences Inc. (U.S.).
Scope of the Report
- Regional and country-level analysisand forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysisin terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC)in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysisfor analysing the level of competition and business strategy development
- A comprehensive list of key market playersalong with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysislisting out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunitiesto provide both individuals and organizations a strong financial foothold in the market
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