The multi nutritional supplement market was worth USD 310 Billion in 2020 and is expected to advance at; a 5.9% CAGR from 2022 to 2032.
| Attributes | Details |
|---|---|
| Multi Nutritional Supplement Market CAGR (2022 to 2032) | 5.9% |
| Multi Nutritional Supplement Market (2020) | USD 310 Billion |
With the increasing growth of the health & wellness trend and consumers’ awareness about the necessity of adding diverse nutrients in diets, the demand for multi nutritional supplements increased significantly in the past few years.
Over-the-counter dietary supplements and multi-nutritional supplements are becoming a big business with a mounting number of sales of multi nutritional supplements among consumers to satisfy their daily dietary needs.
Demand for multi nutritional supplements is also expected to rise as consumers are becoming aware of the importance of;antioxidants, vitamins, and other nutrients, and it is directly influencing the sales of multi nutritional supplements.
In addition, sales of multi nutritional supplements are also expected to rise due to global prevalence of lifestyle diseases such as obesity, cardiovascular diseases and consumers likely depend on external nutritional supply to meet their dietary needs.
Increasing dependency of consumers on multi-nutritional supplements for;weight loss and obesity management;will further bolster the demand for multi nutritional supplements in the coming years.
Consumers are preferring to consume multi-nutritional supplements to resort to two or more dietary supplements to get the essential nutrients. This is expected to spike the sales of multi nutritional supplements in the coming years.
Leading players in the multi nutritional supplement market are introducing products with healthy ingredients such as;vitamin D,vitamin C, and natural antioxidants thereby surging the demand for multi nutritional supplements.
Sales of multi nutritional supplements can be peaked by boosting R&D in the discovery of innovative & healthy ingredients, and stakeholders are aiming to gain a competitive edge in expanding their multi nutritional supplement market share.
Consumers are willing to pay more for vitamin and other dietary supplements as their disposable income rises and economic conditions improve, in turn, augmenting the sales of multi nutritional supplements.
Furthermore, demand for multi nutritional supplements rises as consumers prefer to spend their money on multi nutritional supplements with a variety of nutritional properties than purchasing multiple supplements to treat nutritional deficiencies.
Athletes and sportsmen frequently request vitamin calcium with probiotics or a vitamin and mineral supplement. As a result, demand for multi nutritional supplements is on the rise as they become popular.
Aside from athletes and sportsmen, multi nutritional supplements form a niche segment driven by consumers suffering from malnutrition thereby rising the demand for multi nutritional supplements.
People's lives in cities have become so hectic that they have little time or opportunity to incorporate a healthy and balanced diet into their daily routine. This is one of the primary propellers of the sales of multi nutritional supplements.
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Key stakeholders in the;multi nutritional supplement market;include Amway, Nature's Bounty, Inc., Rexall Sundown, Inc., Puritan's Pride, Inc., Osteo Bi-Flex, among the many others.
The key players are adopting various strategies such as partnerships, product launches, mergers & acquisition in order to augment their;multi nutritional supplement market share.
Some of the notable developments in the;multi nutritional supplement market;include:
Healthycell, a leading innovator of nutritional microgels announced the launch of the next generation of its multi-nutritional supplements, BIOACTIVE GEL™ supplements, which are manufactured using its patent-pending microgel technology to maximize the absorption of micronutrients in a pill-free delivery system.
The company also announced that its new product includes a broad spectrum of essential micronutrients such as vitamins and minerals in a pill-free, efficient, and great-tasting format.
Persona™ nutrition, a leading personalized vitamin program, announced that its personalized nutrition subscription system will now make available its 11 new multi-nutritional supplements along with its other 80 vitamin supplements.
The latest supplements were announced to include an innovative combination of products that can help consumers to cut down on the number of capsules they consume each day, as well as a specialized nutrition program for bariatric patients.
Pillsy, a start-up, and a smart pill bottle cap manufacturing company, announced that it is launching its subsidiary that can offer multi-nutritional supplement subscription services by pairing the adherence technology.
At this stage, the company is offering three different combinations of multi-nutritional supplements viz. an Omega 3 blend, a multivitamin blend, and a probiotic blend, while offering a technology-enabled service to assist consumers in managing their nutritional intake.
Ever-growing Demand for Nutrition Supplements among Elderly Consumers
The consumption of multi-nutritional supplements is expected to remain significantly high across the geriatric population.
Considering this, leading players in the multi nutritional supplement market are expected to focus on introducing older adults’ health supplements in the coming years, to improve their sales of multi nutritional supplements.
As a number of consumers rely on dietary & multi-nutritional supplements, recent studies suggest that these supplements may not be entirely effective in improving health which negatively impacts the sales of multi nutritional supplements.
A survey that included over 27,000 American adults aged 20 or older suggests that dietary supplements or multi-nutritional supplements fail to offer the same health benefits as natural as fruits and vegetable ingredients do.
Another study performed on over 30,000 American adults finds that multi-nutritional supplement is not only ineffective in improving the health of consumers but also carry the risk of posing harm to their health.
Such studies are creating ambiguity about the effectiveness of multi-nutritional supplements on consumer health and the potential hazards of consuming them. This may dwindle the demand for multi nutritional supplements.
Demand for multi nutritional supplements likely rises as high consumption of multi nutritional supplements among consumers aged 60 or more will make them the primary target for stakeholders in the multi nutritional supplement market.
However, leading market players are also entering the sports food market and fitness nutrition industry, by introducing products with innovative ingredients for muscle building, to explore the profitable sales of multi nutritional supplements.
Health- and fitness-conscious consumers are showing proclivity towards relying on multi-nutritional supplements for improving strength, endurance, and athletic performance and the same surges the demand for multi nutritional supplements.
Demand for multi nutritional supplements is also expected to rise as multi nutritional supplements in the form of tablets, capsules, powders, bars, and liquids are gaining immense popularity in the sports nutrition industry.
Thereby, leading players are expected to introduce multi nutritional supplements for professional sportspersons and athletes to further boost their multi nutritional supplement market share in the coming years.
While the multi nutritional supplement market is witnessing incremental growth worldwide, consumers’ need to maintain adherence to their nutritional program is triggering the rise of new market trends.
A mounting number of leading players in the multi nutritional supplement market are introducing supplement subscription services integrated with advanced technologies to offer consumers convenience at maintaining their daily nutritional intake.
Introducing subscription services by key players that can offer more personalised recommendations about sustainable and high-quality multi-nutritional supplements is expected to expand multi nutritional supplement market share.
Due to rising consumer health consciousness, Asia Pacific dominates the multi nutritional supplement market.
The region has access to low-cost raw materials, including plant-based ingredients. Furthermore, countries such as China, India, and the Philippines are becoming hubs for outsourcing manufacturing and R&D activities.
However, the multi nutritional supplement market in Latin America is expected to grow at a rapid pace during the forecast period owing to greater disposable income, increased health awareness, and a willingness to spend more on nutrition.
| Report Attributes | Details |
|---|---|
| Growth rate | CAGR of 5.9% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 to 2020 |
| Forecast period | 2022 to 2032 |
| Quantitative units | Revenue in USD Million, volume in kilotons, and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis, |
| Segments covered | Product, region |
| Regional scope | North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia and New Zealand |
| Country scope | USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa |
| Key companies profiled | Amway; Nature's Bounty, Inc.; Rexall Sundown, Inc.; Puritan's Pride, Inc.; Osteo Bi-Flex and others. |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
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Projected at 5.9% CAGR during the forecast period.
Amway is expected to hold a significant share.
Market size was USD 310 billion in 2020.
| Estimated Industry Size (2025E) | USD 14,498.1 million |
|---|---|
| Projected Industry Value (2035F) | USD 23,391.7 million |
| Value-based CAGR (2025 to 2035) | 4.9% |
| Estimated Market Size (2024E) | USD 7,524.6 million |
|---|---|
| Projected Market Value (2034F) | USD 23,874.5 million |
| Value-based CAGR (2024 to 2034) | 11.2% |
| Estimated Market Size (2024E) | USD 74.3 billion |
|---|---|
| Projected Market Valuation (2034F) | USD 170.1 billion |
| Value-based CAGR (2024 to 2034) | 9.5% |
| Market Value in 2023 | USD 583.6 Million |
|---|---|
| Market Value in 2033 | USD 932.7 Million |
| Growth Rate (2023 to 2033) | 4.8% |
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Multi Nutritional Supplement Market
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