Global Nutritional Supplements Market Pumps Growth with a Promising 7.8% CAGR during 2020-2025

Global Nutritional Supplements Market Pumps Growth with a Promising 7.8% CAGR during 2020-2025

Albany, New York, 6th Jan, 2021 – The global nutritional supplements market promises to reach $302.89 billion in valuation by 2027, thanks to a robust demand due to rising health concerns associated with the worldwide pandemic. The pandemic has proven to be fatal to vulnerable population groups including the elderly, and the children. The rising demand to increase the intake of immunity has led to strong demand for nutritional supplements, with vitamin intakes leading the way.

Rising health consciousness in developed countries, mainly the US remains a major impetus for growth in the nutritional supplements market. Several consumer surveys repeatedly point to increased health consciousness among millennials as compared to the previous generation. Millennials continue to report less consumption of alcohol, more visits to the gym, and high level of awareness about their personal wellbeing. The covid-19 pandemic furthered this health consciousness in the US as major brands including Nestle, Gamble & Procter reported higher sales for dietary supplements during the pandemic. According to reports in the Financial Times, the dietary supplements sales in the US reached $781 million in valuation, rising by 16.7% in July 2019 as compared to previous year. The growth was even significant during the March, 2019, when the sales increased by over 50%. The demand also remains consistent across regions as the UK witnessed nearly 50% of population purchase a dietary supplement during the pandemic.

The strong demand for nutritional supplements has also made a comeback in many quarters as lockdowns around the world ease up to open up the economy. The opening up of the economy has led to a rise in income levels, and eased unemployment worries across all regions. The high-priced cost of nutritional supplements remains a challenge in emerging nations like India, wherein issues like malnutrition have raised their ugly head once again. This remains a key opportunity in the global nutritional supplements market, as emerging nations remain least served in the market with limited product offerings, and limited awareness about products. The Covid-19 pandemic presents a major opportunity for global players to position their brands in line with immediate Covid concerns, and build consumer loyalty with a healthy mix of low-cost branded offerings.

Poultry Production Remains Key to Growth in the Nutritional Supplements Market

Poultry remains a favourite delicacy around the world. In 2004, EU’s poultry consumption reached 1,81,000 tons. By 2025, this consumption is expected to add 125,000 tons more. This will likely erase the dependency of EU on poultry imports. Despite the promising news, the costs of production in poultry farming continue to rise as stricter administrative controls, environmental protection concerns, and animal transport regulation remain major challengers for poultry producers. However, despite the on-going regulatory concerns, vitamins, and mineral supplements promise to increase nearly 10% ROI for poultry makers by increasing animal life, making them less susceptible to diseases, and reducing the quantity of feed required. Poultry farming continues to plague with high feed costs, with farmers paying close to 70% for feed costs, while their position as price-takers sinks further.

The feed costs are expected to rise further as trends driving demand for feed including production of ethanol, decrease of production in other areas, and expansion of animal husbandry promises to increase feed costs more in future. Based on historical progression, feed costs in some EU markets like Hungary have risen by 25% within a ten-year period, and will likely deter growth for poultry producers without additional use of nutritional supplements.

Vitamin C Promises Revival of Health Amidst Covid-19  

Vitamin C products remain key to bring an upheaval in the demand for nutritional supplements in the near future. According to studies published in the GSC Biological and Pharmaceutical Sciences, vitamin C promises to reduce major risks associated with Covid-19 including respiratory syndromes. Vitamin C contains high levels of dehydroascorbic acid which also promises to reduce risk of infections, a major risk amidst the pandemic, and also promises to exert immunomodulatory functions. Vitamin C is already known to for its benefits with viral functions, and increases α/β interferon production which leads to reduction in pro-inflammatory cytokines. The Vitamin C supplements in the nutritional supplements market can also reduce movement of free radicals, and reactive oxygen species. With its combined varied benefits, Vitamin C promises to reduce fatal mortality risks, and its benefits for reducing viral infections are already well-known in the medical community. The on-going demand for increasing immunity, and low-cost availability of Vitamin C products will likely be a major boost for demand in the nutritional supplements market during 2020-2025 period.

Global Commitment to Circular Economy Will Drive Growth for Active Bio-compounds

Many governments around the world have committed to circular economy initiatives which revolve around producing ‘clean labels’ for food, with zero wastage. The growing demand for nutritional supplements however, depends on the stable, and robust supply of active biocompounds. The cost of raw produce in this arena remains a major concern, as extraction technology remains an expensive affair, and agricultural by-products are used in a wide variety of different applications. On the other hand, newly derived organic solvents promise a major breakthrough for the nutritional supplements industry as these cause the least environmental impact, and are naturally suited as natural food ingredients. The extraction technology for these continues to undergo technological advancements as the optimization of bio-compounds remains core to the idea of achieving a circular economy. The recent mandate by EU promoting Clean Label, and its stated goal of zero residue, and considerable health benefits of valorisation of active bio compounds will open up new opportunities for growth in the nutritional supplements market in the near future.

Personalized Subscription Remains a Major Impetus for Growth 

The dietary supplements industry in the US remains a fragmented market, with lead players like Amway constituting only about 3.5% market share. Moreover, new trends like personalized subscription service are becoming the new rage among consumers, opening up new opportunities for startups. Nestle reported tripled sales of its newly acquired subscriptions service during the pandemic as compared to previous year.

Asia Pacific region also remains a major opportunity for players in the nutritional supplements market. Countries like Singapore with high levels of awareness of dietary supplements witnessed as high as 5-fold jump for dietary supplement products at local supermarket chains. This is despite the low number of cases in the country, and with key demand for products like Vitamin C soluble tablets raced ahead of all other supplements.

Dietary Supplements Ingredient Outlook (Revenue, USD Million, 2016 - 2027): Vitamins, Botanicals, Minerals, Proteins & Amino Acids, Fibers & Specialty Carbohydrates, Omega Fatty Acids Others

Dietary Supplements Form Outlook (Revenue, USD Million, 2016 - 2027): Tablets, Capsules, Soft gels, Powders, Gummies, Liquids, Others

Dietary Supplements Application Outlook (Revenue, USD Million, 2016 - 2027): Energy & Weight Management, General Health, Bone & Joint Health, Gastrointestinal Health,  Immunity, Cardiac Health, Diabetes, Anti-cancer, Sport Nutrition

Dietary Supplements End-User Outlook (Revenue, USD Million, 2016 - 2027): Adults, Geriatric, Pregnant Women, Children, Infants, Animal Production

Global Dietary Supplements Market: By Application Segmentation Analysis: Sport Nutrition, Additional Supplements, Medicinal Supplements

Dietary Supplements Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027): OTC, Prescribed

Dietary Supplements Regional Outlook (Revenue, USD Million, 2016 - 2027): North America(U.S., Canada, Mexico), Europe(Germany, France, Italy, U.K., Spain), Asia Pacific(China, Japan, Australia & New Zealand), Central & South America(Brazil, Peru, Chile), Middle East & Africa(South Africa, Saudi Arabia)

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