Growing Interest in Attaining Wellness and Surge in Spending on Healthcare Products Drive the Growth of the Wellness Supplements Market

Wellness supplements are also called as to be the substances that are likely to have extra nutritional value which are required to add in diet for improved health. Additionally, wellness supplements are important for supporting a healthy life. Moreover, these supplements include of all the minerals in substantial amount to meet the daily need for the sustainability of healthy life style. Food supplement generally contains calcium, folic acid, vitamin B12 and vitamin D.

Increasing spending on healthcare products, the rising geriatric population, growing interest in preventive healthcare, and growing interest in attaining wellness through diet are expected to augment market growth over the forecast period. Several fitness centers, health clubs, and gymnasiums coupled with rising awareness about fitness among the youths is projected to grow the demand for energy and weight management. Growing approval of sports as a career is projected to increase the demand for sports nutrition which in turn boosts the market for wellness supplements.

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The global demand for wellness supplements market was predicted to be about USD 153 billion in 2022, and by the end of 2031, existing and expected developments would hit valuations of around USD 395 billion. The industry players and analysts predict the global Wellness supplements market growth of around 9% in terms of CAGR. During the forthcoming years, growing consumer awareness concerning personal health and wellbeing, increasing dependence on the supplements to fulfil the nutrient requirement owing to their high accessibility are driving the wellness supplements market. However, shortage of skilful healthcare professionals and the concern associated with the sizeable initial expenditure are the challenges presented to wellness supplements market development and growth.

Some of the leading and top wellness supplements companies in the global wellness supplements market include         Life Extension, OPTAVIA LLC, Beachbody LLC, Nature's Sunshine Products, Inc., Organo Gold, Thrive Life, LLC, Phytoscience Trévo, Oriflame Cosmetics AG, Melaleuca Inc., Amway, Shaklee Corporation, Arbonne International, LLC, Forever, Juice Plus+, Abbott, Herbalife International of America, Inc., Isagenix Worldwide LLC, Nikken Inc. among others. The leading five players such as OPTAVIA LLC, Beachbody LLC, Abbott, Herbalife International of America, Inc., Amway hold around 45% market share of the global wellness supplements market.

On the basis of type, the global wellness supplements market can be segmented into vitamins, minerals, botanicals, probiotics, fatty acids, proteins, and others, with the ‘vitamins’ category having the leading market share of about 30 percent, closely followed by the “proteins” category at about 15 percent of the global wellness supplements market share. On the basis of functional food & beverages, the market can be bifurcated into functional bakery and confectionary, functional dairy, energy drink, sports drink, infant formula and baby food, and others. On the basis of consumer groups, the market can be bifurcated into infants, children, adults, pregnant, geriatric. In terms of geography, North America region held the leading market share of around 40% among other regions such as Asia Pacific, Europe, Latin America, and Middle East & Africa in the global wellness supplements market.

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