Global Wellness Supplements
Market was worth USD 183.2 billion in 2016 and estimated to be growing at a
CAGR of 6.45%, to reach USD 250.41 billion by 2021.
Wellness supplements are additional
substances introduced into the human diet to add further nutritional value for
enhanced health. Supplements generally include vitamins, minerals, fiber, fatty
acids and amino acids. According to the FDA, supplements are defined as
products which are not pharmaceutical drugs, food additives or conventional
food and which is intended to supplement a person’s diet.
The intended use of wellness
supplements is to ensure that a person gets enough essential nutrients. They
cannot be used to treat any disease or as a preventive measure for any disease.
Supplements may also cause harm in several ways when they are over-consumed,
particularly in the case of minerals and fat-soluble vitamins which can
accumulate in the body. Their rapid absorption in a short period of time can
also cause harm to the body.
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The rise of the wellness supplements
market is mainly driven by factors such as rising geriatric population, growing
prevalence of chronic diseases, rising awareness about benefits of wellness
supplements and rising healthcare costs. The decreasing mortality rates have
increased the percentage of aging population. Inspite of the numerous pros, the
market is hampered by the high pricing of this products that make them out of
the reach of most parts of the society. Regulatory compliance is another reason
that the market does not grow freely.
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The Global Wellness Supplements
market is broadly classified based on products into Dietary Supplements such as
Vitamin, Mineral, Protein and Herbal, Fortified Food & Beverages such as
Omega Fatty Acid, Probiotic Food, Branded Iodinated Salt, Branded Wheat Flour,
Energy Drinks, Sports Drinks and Fortified Juices, Food Intolerance Products
such as Gluten-free, Lactose-free and Diabetic food and Dermo-Cosmetic Skin
Essentials such as Anti-Aging, Anti-Cellulite and Anti-Acne Supplements. Based
on geography, the global market is analysed under various regions namely North
America, Europe, Asia-Pacific, Latin America and Middle East and Africa. The
Wellness Supplements Market is dominated by North America in 2016 with the
region accounting for 38% of the overall market share. North America was followed
next in line by Europe and Asia-Pacific. Asia-Pacific is expected to grow
rapidly in the coming years as is evident from the high CAGR value for the
region. Another market that shows promise in the coming years is Latin America.
The major market players in the
wellness supplements market are Nestle S.A. (Switzerland), Abbott Laboratories
(U.S.), Amway (U.S.), Otsuka Holdings Co., Ltd. (Japan), Herbalife Ltd. (U.S.),
Archer Daniels Midland Company (U.S.), Glanbia plc (Ireland), NBTY, Inc.
(U.S.), GNC Holdings Inc. (U.S.), and Nu Skin Enterprises, Inc. (U.S.). Other
players in the market include Grupo Omnilife (Mexico), Forever Living (U.S.),
Pola, Inc. (Japan), Shaklee Corporation (U.S.), and Usana Health Sciences Inc.
(U.S.).
Scope of the Report
· Regional and country-level analysis and
forecasts of the study market; providing Insights on the major
countries/regions in which this industry is blooming and to also identify the
regions that are still untapped
· Segment-level
analysis in terms of technology, component,
and type along with market size forecasts and estimations to detect key areas
of industry growth in detail
· Identification
of key drivers, restraints, opportunities, and challenges (DROC) in
the market and their impact on shifting market dynamics
· Study of
the effect of exogenous and endogenous factors that affect the global market;
which includes broadly demographic, economics, and political, among other
macro-environmental factors presented in an extensive PESTLE Analysis
· Study the
micro environment factors that determine the overall profitability of an
Industry, using Porter’s five forces analysis for analysing
the level of competition and business strategy development
· A
comprehensive list of key market players along with their product
portfolio, current strategic interests, key financial information, legal
issues, SWOT analysis and analyst overview to study and sustain the market
environment
· Competitive
landscape analysis listing out
the mergers, acquisitions, collaborations in the field along with new product
launches, comparative financial studies and recent developments in the market
by the major companies
· An executive
summary, abridging the entire report in such a way that decision-making
personnel can rapidly become acquainted with background information, concise
analysis and main conclusions
· Expertly
devised analyst overview along with Investment opportunities to
provide both individuals and organizations a strong financial foothold in the
market
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