Global Wellness Supplement Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Wellness Supplement Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global wellness supplement market report has been segmented on the basis of type and region.

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Global Wellness Supplement Market: Overview

Wellness supplements are additional substances introduced into human diet to add further nutritional value for enhanced health. Supplements include minerals, vitamins, fiber, amino acids, and fatty acids.

According to the document released by the Food and Drug Administration (FDA), supplements are not intended to treat, diagnose, cure, or alleviate the effects of diseases. It is intended to supplement a person's diet.

Global Wellness Supplement Market: Dynamics

Rising geriatric population and growing prevalence of chronic diseases across various countries are some major factors expected to drive growth of the global market over the forecast period. In addition, rising awareness regarding benefits of wellness supplements, shifting towards preventive healthcare along with rising healthcare costs are other factors expected to further fuel growth of the target market over the forecast period.

However, high cost of products along with regulatory compliance are some major factors that may hamper growth of the global wellness supplements market. As per the Council for Responsible Nutrition, around 11% of adults took protein supplements in 2016, which was very low. Most of the people cannot afford it owing to the high cost of the product.

Ongoing trend observed in the target market is changing an individual’s food consumption habits. In addition, increasing focus on mergers and acquisitions by prominent players in order to add innovative products to the existing product portfolio, with a view to expand offerings and strengthen market presence. In September 2017, for instance, US-based Archer Daniels Midlands Company (ADM) collaborated with Mayo Clinic, which is a nonprofit academic medical center based in the US – for personalized nutrition products. This trend is expected to propel growth of the target market over the forecast period.

Global Wellness Supplement Market: Segment Analysis

Among the type segments, the dietary supplements segment is expected to register significant growth in terms of revenue over the forecast period.

Global Wellness Supplement Market: Regional Analysis

The market in North America is expected to dominate the global market and is expected to continue its dominance over the forecast period. This is attributed to the rising geriatric population, growing acceptance of wellness products across various countries in this region. Furthermore, growing consciousness regarding the consumption of proteins and maintaining optimum nutrition levels among middle-aged adults in developed countries such as the US and Canada is expected to surge demand for wellness supplements.

Asia Pacific wellness supplement market is expected to register significant growth in terms of revenue over the forecast period, owing to increasing disposable income and increasing focus towards healthy lifestyles. In addition, rising awareness regarding nutritional enrichment/enhancement in emerging countries such as India, China, Indonesia, and Malaysia is expected to fuel growth of the market the Asia Pacific. Moreover, expansion in the retail market, regulatory support to promote investments along with the government initiatives are some factors expected to boost growth of the target market in the region.

Global Wellness Supplement Market Segmentation:

Segmentation by Type:

Dietary Supplements
Functional Food and Beverage
Food Intolerance Products
Dermo-Cosmetic Skin Essentials