Multi Nutritional Supplement Market is experiencing a surge in popularity, driven by a growing health and wellness trend and a heightened awareness of the importance of proper nutrition. Valued at US$310 billion in 2020, the market is projected to reach over US$460 billion by 2032, reflecting a compelling Compound Annual Growth Rate (CAGR) of 5.9%. This significant growth presents a lucrative opportunity for B2B investors seeking to tap into a thriving industry.
The demand for multi-nutritional supplements is fueled by several key factors:
- Rising Health & Wellness Trend: Consumers are increasingly prioritizing their health and well-being, leading them to explore solutions that bridge nutritional gaps in their diets. Multi-nutritional supplements offer a convenient way to ensure daily intake of essential vitamins, minerals, and other vital nutrients.
- Growing Awareness of Nutrient Deficiencies: Public health campaigns and media focus on the importance of various nutrients have raised awareness of deficiencies like vitamin D and antioxidants. Multi-nutritional supplements cater to this growing awareness by providing a comprehensive blend of essential nutrients.
- Prevalence of Lifestyle Diseases: The increasing prevalence of lifestyle diseases such as obesity, heart disease, and diabetes is driving demand for supplements that may contribute to managing or preventing these conditions. Multi-nutritional supplements can play a role in promoting overall health and potentially reducing the risk of chronic diseases.
- Convenience and Time Constraints: Busy lifestyles often make it challenging to maintain a perfectly balanced diet. Multi-nutritional supplements offer a convenient and efficient way to ensure daily intake of essential nutrients.
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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, with the increasing global prevalence of lifestyle diseases such as obesity, cardiovascular diseases, and diabetes, consumers are likely to depend on external nutritional supply to meet their dietary needs. The increasing dependency of consumers on multi-nutritional supplements for weight loss and obesity management will further bolster their demand in the coming years.
Consumers are preferring to consume multi-nutritional supplements instead of resorting to two or more two dietary supplements to get the essential nutrients. This is expected to support the growth of the multi-nutritional supplements market in the coming years. Leading players in multi-nutritional supplements are introducing products with health-benefiting ingredients such as vitamin D ingredients, vitamin C ingredients, and natural antioxidants.
Several trends are propelling the continued growth of the multi-nutritional supplement market:
- Product Innovation: Leading manufacturers are constantly innovating by developing new formulas catering to specific needs and preferences. This includes introducing supplements with improved taste, texture, and targeted ingredient profiles.
- Focus on Personalized Nutrition: The rise of personalized medicine is influencing the multi-nutritional supplement market. Subscription services offering customized supplement regimens based on individual needs and health goals are gaining traction.
- Expansion of Distribution Channels: Traditionally, multi-nutritional supplements were primarily available through pharmacies and health food stores. However, the market is witnessing expansion into online retail platforms and even grocery stores, increasing accessibility for consumers.
- Rising Disposable Incomes: As disposable incomes rise globally, consumers are more willing to invest in their health and well-being. This translates to increased spending on multi-nutritional supplements and premium options.
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Multi-nutritional Supplements Market – Competitive Landscape
Key stakeholders in the multi-nutritional supplements market Amway, Nature’s Bounty, Inc., Rexall Sundown, Inc., Puritan’s Pride, Inc., Osteo Bi-Flex, among the many others. Some of the notable developments in the competitive landscape of the multi-nutritional supplements market include:
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. A 2017 survey including 3,500 American adults aged 60 and older was published in The Journal of Nutrition, and it found that almost three-fourth of the participants consumed a daily multi-nutritional supplement (either individual vitamin or mineral or a multivitamin supplement), more than half of the participants said that they take one or two supplements, and more than one-fourth of the participants take four or more supplements.
The Rise of Multi-nutritional Supplement Subscription Services Bring in New Trends
While the multi-nutritional supplements 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, as well as new entrants in the multi-nutritional supplements market, are introducing supplement subscription services integrated with advanced technologies to offer consumers more convenience at maintaining their daily nutritional intake.
Introducing subscription services that can offer more personalised recommendations about sustainable and high-quality multi-nutritional supplements is expected to emerge as a winning strategy for stakeholders in the coming future.
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Key Segments
By Product:
- Sports Nutrition
- Dietary Supplements
- Functional Foods and Beverages
By Consumer Group:
- Infants
- Children
- Adults
- Pregnant
- Geriatric
By Formulation:
- Tablets
- Capsules
- Powder
- Soft gels
- Liquid
- Others
By Application:
- Immune Health
- Eye Health
- Women Health
- Beauty Health
- Brain, Neuro & Mental Health
- Sleep Disorders
- Bone & Joint Health
- Digestive Health
- Urinary & Kidney Health
- Heart Health
- Liver Health
- Weight Management
- Energy
- Others
By Packaging:
- Strip/Blister/Alu-Alu Packaging
- Sachet Bags
- Spray
- Bottles/Cans
- Vials
- Jars
- Pillow Pouches
By Composition:
- Single Composition
- Multiple Composition
By Gender:
- Male
- Female
By Application:
- Brick & Mortar
- E-commerce
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- MEA
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