Wellness Supplements Market Size, Share Global Analysis Report, 2024 – 2032

Industry Insights

[213+ Pages Report] According to Facts and Factors, the global wellness supplements market size was valued at USD 237.93 billion in 2023 and is predicted to surpass USD 419.37 billion by the end of 2032. The wellness supplements industry is expected to grow by a CAGR of 6.50% between 2024 to 2032.

Market Overview

Wellness supplements are products made to improve the diet and offer essential nutrients to fulfill the daily nutrient requirements of the human body. These supplements are available in the market in the form of powders, tablets, pills, and others. These products contribute support to the overall human health and all bodily functions. These include vitamins, minerals, protein supplements, herbal supplements, amino acids, collagen supplements, and many others.

Key Insights

• As per the analysis shared by our research analyst, the global wellness supplements market size is estimated to grow annually at a CAGR of around 6.50% over the forecast period (2024-2032).
• In terms of revenue, the global wellness supplements market size was valued at around USD 237.93 billion in 2023 and is projected to reach USD 419.37 billion by 2032.
• Rising health consciousness is driving the growth of the global wellness supplements market.
• Based on the application, the hospital segment is growing at a high rate and is projected to dominate the global market.
• Based on the functional food and beverages, the omega fatty acid-fortified food segment is projected to swipe the largest market share.
• Based on the product, the dietary supplements segment is projected to witness a high CAGR during the forecast period.
• Based on region, North America is expected to dominate the global market during the forecast period.

Growth Drivers

• Rising health consciousness is driving the growth of the global market.

Growing people’s consciousness regarding their health and wellness is driving the growth of the global wellness supplements market. Additionally, there is a surge in focus on preventive healthcare practices, which is also likely to support the market’s growth. The shift towards preventive healthcare and a proactive approach is also widening the scope of nutritional supplements. People are now using these supplements in their daily routine to maintain their good health.

The modern lifestyle is another major factor impacting the growth trajectory of the global wellness supplements market. A sedentary lifestyle, continuous stress, and binge eating are contributing to the high incidences of chronic diseases among people globally. For instance, Hamperella came up with hemp-based wellness products in the market, like protein bars, hemp muesli, protein powders, and others, in April 2023.

Restraints

• Safety concerns are likely to hamper the growth of the global market.

Certain side effects associated with supplements create safety concerns among people. Therefore, this negative opinion is likely to slow down the growth trajectory of the wellness supplements industry.

Opportunities

• Growth in e-commerce is expected to foster growth opportunities in the global market.

The fast proliferation of e-commerce platforms across the globe is expected to pave the way for huge opportunities in the global wellness supplements market. Online channels have made these supplements more accessible to consumers, thereby enhancing the brand’s ability to reach the wellness supplements industry from one place.

Furthermore, the ongoing research and development activities in the field of nutritional science are also expected to foster developments in supplement formulations. Therefore, such a landscape is expected to positively impact the growth trajectory of the industry in the coming years. For instance, Nestle announced technological innovation to lower the sugar content of the essential ingredients in June 2023.      

Challenges

• Product misinformation and lack of standardization are big challenges in the global market.

People have confusing thoughts regarding the benefits of certain supplements, which leads to miscommunication among consumers. Certain regulatory bodies have also claimed the side effects of these products. Moreover, there is no standardization of products in the market, which is another major factor negatively impacting the growth trajectory of the wellness supplements industry.

Segmentation Analysis

The global wellness supplements market can be segmented into application, functional food and beverages, product, and region.

By application, the market can be segmented into hospitals, home care, and others. The hospital segment is expected to see huge developments in the wellness supplements industry during the forecasted period. Hospitals are making efforts to integrate their wellness program in order to encourage their preventive healthcare services. It will help them offer wellness supplements to patients, which is further expected to foster growth opportunities in the segment.

Moreover, hospitals are also collaborating with supplement manufacturers to come up with more personalized wellness supplement products that suit every person's needs and preferences. Also, it will help healthcare professionals ensure the quality and safety of the products for patients. Hospitals are the primary point of contact, and, therefore, they are considered a good source of target customers. Hospitals help in patient education, which drives a high demand for wellness supplement products.

By functional food and beverages, the market can be segmented into sports drinks, energy drinks, branded wheat flour, branded iodinated salt, probiotic fortified food, omega fatty acid fortified food, and others. The omega fatty acid-fortified food segment is likely to dominate the wellness supplements industry during the anticipated period. Increasing awareness among people regarding the health benefits of omega fatty acids like omega-6 and omega-3 is expected to propel the growth of the segment in the forthcoming years.

The omega fatty acids are considered good for cardiovascular health. The rising focus of people on heart health because of the high heart attack rate is also driving the growth of the segment. The market is posing a huge demand for fortified foods and omega fatty acid supplements. Food manufacturers are also coming up with unique product formulations to appeal to a larger consumer base. Regulatory support from the authorities is also likely to widen the scope of the segment in the forthcoming years.

By products, the market can be segmented into herbal protein, mineral, vitamin, dietary supplements, and others. The dietary supplements segment accounts for the largest share of the global wellness supplements market. The surging focus of people on preventive healthcare is driving the growth of the segment. The growing aging population is another major factor accentuating the segment’s growth. Modern lifestyle is paving the way for growth opportunities for dietary supplements in the market. Dietary supplements can offer a complete package of minerals, vitamins, and other nutrients.

Furthermore, the emerging consumer awareness regarding maintaining health is also boosting the demand for dietary supplements. Additionally, the easy accessibility of dietary supplements through e-commerce channels is also positively impacting the growth of the segment. The ongoing innovations help companies come up with new product formulations to cater to the evolving preferences of consumers. Therefore, such a landscape is expected to bolster the growth of the segment in the forthcoming years.

Report Scope

Regional Analysis

• North America to dominate the global market.

North America accounts for the largest share of the global wellness supplements market during the forecast period. Canada and the United States are at the forefront of the wellness supplements market because of the broader demand from consumers in the region. The increasing consciousness among people regarding maintaining their health and adopting preventive healthcare in their early life is a major factor boosting the growth of the global market.

Also, there is a surge in demand for natural and organic supplements in the market. Clean-label ingredients are also gaining popularity in the region. The diversity in the regional market among wellness supplement products is also likely to positively impact the growth trajectory of the regional market during the anticipated period. The growing scope of sports nutrition in the region is also fostering growth in the regional market. The increasing number of fitness activities and focus on performance-enhancing supplements are further supporting the growth of the regional market.

Asia Pacific is also expected to grow steadily during the forecast period because of the growing middle-class population in the region. Also, growing economies like India and China are contributing heavily towards the growth of the regional market because of the growing disposable income of people in the countries.

Moreover, the growing willingness of consumers to invest in health and wellness products is also likely to support the growth of the regional market. The region holds a rich tradition of herbal medicine, and therefore, the region is likely to witness heavy growth during the forecast period. Increasing urbanization and lifestyle changes is another major reason propelling the growth of the regional market. The high adoption of Western dietary patterns in Asian countries is also widening the scope of the regional market.

All these factors contribute significantly to the high growth rate of the regional market during the forecast period. For instance, Nutrabay stepped into the offline retail market with the target of establishing 300 across PAN India in January 2023. 

Competitive Analysis

The key players in the global wellness supplements market include:

• USANA Health Sciences Inc.
• Nuskin
• Nestle
• Glanbia plc
• Otsuka Holdings  Co. Ltd
• The Daily Wellness Company
• Wellness Resources Inc.
• Nikken Inc.
• Isagenix Worldwide LLC
• Herbalife International of America Inc
• Juice Plus+
• Forever Living.com L.L.C
• Arbonne International LLC.
• Shaklee Corporation
• Melaleuca Inc
• Oriflame Cosmetics AG
• Phytoscience Trévo
• Thrive Life LLC
• Organo Gold.
• Sunshine Products Inc.
• Beachbody LLC
• OPTAVIA LLC
• Life Extension         

For instance, The American Diabetes Association unveiled its collaboration with Abbott in July 2023. The major goal of this collaboration is to understand better how diabetes technology will help individuals with dietary and other activity decisions.

The global wellness supplements market is segmented as follows:

By Application Segment Analysis

• Hospital
• Home Care
• Others

By Functional Food And Beverages Segment Analysis

• Sports Drinks
• Energy Drinks
• Branded Wheat Flour
• Branded Iodinated Salt
• Probiotic Fortified Food
• Omega Fatty Acid Fortified Food
• Others

By Product Segment Analysis

• Herbal Protein
• Mineral
• Vitamin
• Dietary Supplements
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America