The global nutritional supplements market size is expected to reach USD 424.4 billion by 2025, expanding at a CAGR of 6.4% from 2019 to 2025, according to a new report by Radiant Insights, Inc. Growing consumer awareness and increasing consumer willingness to spend on nutritional supplements are the key factors driving the market. In addition, rise in disposable income and increase in the number of distribution channels for these dietary products, coupled with improved accessibility, propel market growth.
Rise in geriatric population and increasing prevalence of lifestyle diseases, including obesity and diabetes, further boost demand for nutritional supplements among consumers who are inclined towards a healthy lifestyle. According to the International Diabetes Federation (IDF), more than 12.5 million cases of diabetes were reported in Brazil in 2017. Increase in consumer awareness regarding preventive healthcare and rise in self-directed consumers significantly contribute to the growing product demand.
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Emerging local players, growing partnerships and collaborations, rise in mergers and acquisitions, and growing adoption of plant-based ingredients as well as traditional remedies are further expected to impel the product demand. For instance, in December 2018, PepsiCo, Inc. acquired Health Warrior, Inc., a U.S.-based nutrition company, to expand its portfolio in nutrition bars. However, ongoing amendments in the regulatory framework of dietary ingredients and products in many countries, including U.S., Brazil, Australia, and China, are a key challenge impeding market growth.
Further key findings from the study suggest:
• By product, functional foods accounted for the largest revenue share in 2018 owing to presence of a large number of commercialized products in the market. Sports nutrition is expected to expand at the fastest CAGR of 9.1% over the forecast period
• Based on the consumer group, in 2018, children accounted for the largest share in terms of revenue
• By formulation, powder is one of the fastest growing segments owing to ease in consumption of nutritional supplements in the powered form among all the age groups. Capsules held the largest revenue share of 40.1% in 2018
• Brick and mortar emerged as the largest sales channel segment in 2018. E-commerce is projected to witness lucrative growth over the forecast period
• Asia Pacific is one of the prominent regional markets in terms of revenue owing to presence of a large number of local players in the region
• The global nutritional supplements market is fragmented due to presence of key players such as Amway; Abbott Nutrition; Nestle; Herbalife International of America, Inc.; and Glanbia plc.
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Table of Contents
Chapter 1 Methodology and Scope
1.1 Market Segmentation and Scope
1.2 Market Definition
1.3 Research Methodology
1.3.1 Information procurement
1.3.1.1 Purchased database
1.3.1.2 GVR's internal database
1.3.2 Primary research:
1.4 Research Scope and Assumptions
1.5 List to Data Sources
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
2.4 Nutritional Supplements Market Snapshot
Chapter 3 Nutritional Supplements Market Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.1.1 Parent market outlook
3.1.2 Related/ancillary market outlook
3.1.2.1 Over the counter drugs market
3.1.2.2 Fortified foods and beverages market
3.2 Penetration and Growth Prospect Mapping
3.3 User Perspective Analysis
3.3.1 Consumer behavior analysis
3.3.2 Market influencer analysis
3.4 Reimbursement Framework
3.5 Regulatory Framework
3.6 Market Driver Analysis
3.6.1 Rising health consciousness and consumer interest for active living
3.6.2 Increasing disposable income
3.6.3 Easy accessibility of nutritional supplements
3.6.4 Growing awareness regarding sports nutritional products
3.7. Market Restraint Analysis
3.7.1 Presence of counterfeit products
3.8 Industry Challenges
3.8.1 Changes in regulatory scenerio
3.9 Nutritional Supplements Market Analysis Tools
3.9.1 Industry analysis - Porter's
3.9.1.1 Bargaining power of suppliers - low
3.9.1.2 Bargaining power of the buyers - high
3.9.1.3 Threat of substitution - low
3.9.1.4 Threats of new entrants - moderately low
3.9.1.5 Competitive rivalry - high
3.9.2 PESTEL analysis
3.9.2.1 Political and legal landscape
3.9.2.2 Economic and social landscape
3.9.2.3 Environment and technology landscape
3.10 Major deals & strategic alliances analysis
3.10.1 Joint ventures
3.10.2 Mergers & acquisitions
3.10.3 Licensing & partnership
3.10.4 Technology collaborations
3.10.5 Market entry strategies
Continued…
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