Nutritional Supplements Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Sports Nutrition, Dietary Supplement, Fat Burner, Functional food and Beverages, and Others), By Ingredients (Vitamins, Minerals, Protein & Amino Acid, Fibers, Enzymes, Fish Oils, and Others), By Consumer Groups (Infants, Children, Adults, Pregnant, and Geriatric), 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, Weight Management, and Others), By Formulation (Tablets, Capsules, Powder, Softgels, Liquid, and Others), and Region Forecast 2019-2030

Nutritional Supplements Market size was valued at US$ 389.4 billion in 2023 and is poised to grow at an 5.1% CAGR from 2024 to 2030. Nutritional supplements are intended to provide essential nutrients that may be missing or insufficient in a person’s daily food intake. They come in various forms such as capsules, tablets, powders, liquids, or gummies, and are designed to be taken in addition to a balanced diet. Growing attention to health has significantly helped the market thrive. Moreover, the rising prevalence of non-communicable diseases has resulted in the faster adoption of nutritional supplements to enrich overall well-being. The COVID-19 pandemic had a positive impact on the market as people became more conscious about the impact of unhealthy lifestyles.

Moreover, sports nutrition has also been trending due to a shift in emphasis toward fitness and wellness among the adult population. Through social media platforms and endorsements, fitness professionals, athletes, and enthusiasts encourage people to stay healthy and fit. For instance, in December 2022, Amway India, a key player in the market, launched the campaign “Passion Ko Do Poshan” with Mirabai Chanu, an Indian weightlifter, to market its product line Nutrilite.

Furthermore, nutritional supplementation has been pivotal in enhancing the status of malnutrition in some countries as governments, globally, particularly in developing countries where malnutrition is highly prevalent, continuously introduce initiatives to enhance the health condition of individuals. For instance, in June 2022, the "Supplement Your Knowledge" initiative was launched by the USFDA to inform, educate, and enhance knowledge of dietary supplements in educators, customers, and healthcare professionals. However, the high cost of nutritional supplements as well as the lack of product knowledge are key factors expected to hamper the market growth. R&D investment and technological advancement are expected to offer significant opportunities for the market players. Researchers and scientists have now discovered new kinds of nutritional supplements that can increase the content of iron and decrease fat cells at the same time. E-commerce platforms are also driving the demand of the market owing to the enhanced visibility of products and wider reach across all age groups and socio-economic strata.

Key Developments

• In May 2023, Launch Hydrate, a key player in the sports nutrition industry, partnered with Perfect Game, a softball and baseball organization. This collaboration aimed to offer various sports drinks to the Perfect Game participants
• In April 2023, Hemperella launched hemp-based protein powder, hemp muesli, and protein bars, among others. The availability of products in various flavors is expected to attract consumers, fueling segment growth.