Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 161.2 Billion | USD 321.2 Billion | 8.8% | 2021 |
The global Food Supplements Industry accrued earnings worth approximately 161.2 (USD Billion) in 2021 and is predicted to gain revenue of about 321.2(USD Billion) by 2028, is set to record a CAGR of nearly 8.8% over the period from 2022 to 2028. The study provides assessment and analysis of the Food Supplements Industry on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).
Food supplements comprise of minerals, herbs, and vitamins apart from enzymes and amino acids. They are available in various forms including gummies, tablets, powders, and capsules. Most of popular food supplements comprise of Vitamin B12 and Vitamin D. Apart from this, it also consist of minerals such as calcium & iron, herbs like garlic & Echinacea, and products including fish oils, glucosamine, and probiotics. Some of food supplements help individual get key nutrients though the person does not eat nutritive diet. Moreover, food authorities such as FDA regulate both finished food supplements & ingredients under a set of laws and as per DSHEA (Dietary Supplement Health and Education Act) of 1994.
Massive use of food supplements has contributed significantly towards vitamin & mineral intake in diet of individuals, thereby driving market growth. According to NIH researchers, U.S. adults consume five times more vitamin B6, riboflavin, and thiamin supplements than foods. Furthermore, food supplements are prescribed in low & middle income group nations having micronutrient deficiencies such as iodine, vitamin A, and Zinc deficiency. Apparently, food supplements are recommended when food-driven approaches such as food fortification, food modification, and food provision cannot fulfill goal of adequate intake of minerals and vitamins in individuals. All these aforementioned aspects will steer growth of food supplements market.
With working populace across globe not able to fulfill routine nutrient needs due to hectic work schedule, market for food supplements is anticipated to gain traction in years ahead. Rising expenditure on healthcare items and surge in geriatric population that require more vitamins & minerals for withstanding wearing of body parts has translated into humungous demand for food supplements across globe. Additionally, rise in intake of food supplement by sports persons and individuals performing physical & fitness activities will prop up expansion of food supplements industry. Moreover, COVID-19 pandemic has created huge demand for food supplements such as Zinc and Vitamin C, thereby contributing majorly towards food supplements market earnings.
Report Attributes | Report Details |
---|---|
Report Name | Food Supplements Market Research Report |
Market Size in 2021 | USD 161.2 billion |
Market Forecast in 2028 | USD 321.2 billion |
Growth Rate | CAGR of 8.8% |
Number of Pages | 155 |
Key Companies Covered | Amway Corporation, Abbott Laboratories, Glanbia plc, Bayer AG, Pfizer Inc., The Archer-Daniels-Midland Company, Nu Skin Enterprises, Bionova Lifesciences, GlaxoSmithKline plc, ARKOPHARMA Laboratories, Company Limited, Herbalife Nutrition Ltd., and Nature’s Sunshine Products, Incorporated. |
Segments Covered | By Ingredients, By Form, By Application, By Type, By End-User, By Distribution Channel And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2021 |
Historical Year | 2018 to 2021 |
Forecast Year | 2022 - 2028 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America To Make Notable Contributions Towards Regional Industry Size
Expansion of regional industry over forecasting years can be credited to massive intake of vitamin & mineral supplements as well as fish oil supplements in region. As per NCBI study, consumption of vitamin D supplements in the U.S. increased fourfold in adults during year 1999 to year 2012. For the record, intake of omega-3 fatty acid supplements was also enhanced sevenfold during the same period among the U.S. adults.
Food Supplements Industry: Competitive Insights
Some of major players have strongly leveraged growth of food supplements industry and are likely to do so even in upcoming years. They include:
By Ingredients
By Form
By Application
By Type
By End-User
By Distribution Channel
By Region
FrequentlyAsked Questions
Massive use of food supplements has contributed significantly towards vitamin & mineral intake in diet of individuals, thereby driving market growth.
According to Zion market research report, The global Food Supplements Industry accrued earnings worth approximately 161.2 (USD Billion) in 2021 and is predicted to gain revenue of about 321.2(USD Billion) by 2028, is set to record a CAGR of nearly 8.8% over the period from 2022 to 2028.
North America will contribute sizably towards the global industry revenue over the projected timeline. Expansion of regional industry over forecasting years can be credited to massive intake of vitamin & mineral supplements as well as fish oil supplements in region.
The key industry participants leveraging industry sphere include Amway Corporation, Abbott Laboratories, Glanbia plc, Bayer AG, Pfizer Inc., The Archer-Daniels-Midland Company, Nu Skin Enterprises, Bionova Lifesciences, GlaxoSmithKline plc, ARKOPHARMA Laboratories, Company Limited, Herbalife Nutrition Ltd., and Nature’s Sunshine Products, Incorporated.
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