Wellness supplements are the edible products that benefit the health of the individuals. These supplements are important for maintaining a healthy life. Wellness supplements includes all the vitamins, minerals, protein and other in sufficient amount to meet the daily requirement for healthy life. And these supplements can provide nutrients from both extracted from food sources and synthetic nutrients to increase the quantity of their consumption. These supplements are commonly found in the form of capsules, pills, powders, beverages, or energy bars.
The global wellness supplements market has been seeing tremendous growth from the past few years. The primary factors behind the market growth are rising adoption of healthy lifestyles, increasing adult as well as older adult population, high disposable income of the people, and growing awareness regarding wellness products. In addition, increasing consumer preference towards natural products and newer technologies and rising prevalence of health disorders are further likely to expand growth of the market across the globe. However, high costs related to wellness supplements and regulatory influence are some of the major restraining factors that could hamper the market growth.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the wellness supplements market. In addition, complete analysis of changes on wellness supplements market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact on the wellness supplements market was moderate in the early pandemic period. However, increased demand for wellness supplements such as immunity boosting products is likely to affect positively on the market growth in the coming years.
The study analyses global wellness supplements market based on product, end user and geography.
Various products such as dietary supplements, fortified/functional food & beverages, food intolerance products, and dermo-cosmetic skin essentials are covered in the global wellness supplement market. Dietary supplements segment is accounted for largest market share in 2020. Dietary supplements segment is further bifurcated into vitamin supplements, mineral supplements, protein supplements and herbal supplements. Increasing preferences of consumers towards dietary supplements owing to the rising health awareness and growing prevalence of chronic diseases are expected drive demand for dietary supplements in the market. In addition, increasing demand for plant-based supplements and surged consumer awareness regarding micronutrient deficiencies are further expected to improve market growth.
Major end users such as infant/pediatric and adults are covered in the global wellness supplements market. The adult segment dominated the market in 2020 and is expected to maintain its dominance at a considerable growth rate during 2021-2027. Increasing adult population across the globe and rising focus on wellness and fitness by young population are major factors that attributed to the market growth. In addition, increasing sports activities among adults between 15 to 30 years are further creating more demand for wellness supplements such as sports and energy drinks. This is ultimately propelling the market growth.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. North America held the largest market share of global wellness supplements market and is likely to dominate the market over the estimated time frame. Major growth factors such as increasing adult population, rising disposable income levels of the population, increasing acceptance and knowledge of wellness products, increasing awareness regarding healthy food products, and massive presence of leading wellness supplement companies in NA regions are likely to propel growth of the wellness supplements market. In addition,
The major key players of market includes Nestle S.A, Abbott Laboratories, Amway, Otsuka Holdings Co., Ltd, Herbalife Ltd, Archer Daniels Midland Company, Glanbia plc, NBTY, Inc, GNC Holdings Inc, Nu Skin Enterprises, Inc, Grupo Omnilife, Forever Living, Pola, Inc, Shaklee Corporation, Usana Health Sciences Inc, and Nature's Bounty Co among others.
The study analyses global wellness supplements market based on product, end user and geography. Various products such as dietary supplements, fortified/functional food & beverages, food intolerance products, and dermo-cosmetic skin essentials are covered in the global wellness supplement market. The dietary supplements segment is likely to dominate the market over the forecast period. Increased adoption of dietary supplements owing to its several benefits is attributed to the market growth. Major end users such as infant/pediatric and adults are covered in the global wellness supplements market. The adults segment is likely to register fastest growth in years to come owing to the growing consumption of wellness supplements by adults across the globe. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
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