The multi nutritional supplement market is forecasted to register a 5.9% CAGR during the forecast period 2022 to 2032.
With the increasing growth of the health & wellness trend and consumers’ awareness about the necessity of adding diverse nutrients to diets, the demand for multi-nutritional supplements, as well as dietary supplements, has 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 consumers relying on these nutraceuticals for satisfying their daily dietary needs.
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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.
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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Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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Key Segmentation:
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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