The Wellness Supplement Global Market Report 2023, provides comprehensive information on the wellness supplement market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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In accordance with The Business Research Company's comprehensive
Wellness Supplement Global Market Report for 2023, the outlook for this market
is marked by remarkable growth. In the span of a year, from 2022 to 2023, the
market is poised to expand substantially, surging from $258.51 billion to an
impressive $277.32 billion, demonstrating a commendable Compound Annual Growth
Rate (CAGR) of 7.3%. Nonetheless, it is imperative to acknowledge the
considerable headwinds posed by the Russia-Ukraine conflict, which have cast a
shadow over global economic recovery prospects, particularly in the short term.
This geopolitical discord has precipitated a series of far-reaching
consequences, including economic sanctions levied against multiple nations, an
upsurge in commodity prices, and disruptions across global supply chains. The
net result has been an inflationary ripple effect affecting the prices of both
goods and services, thereby impacting diverse markets across the globe.
Nevertheless, even in the face of these challenges, the wellness
supplements market remains steadfast, maintaining its forward trajectory.
Looking ahead, the market size for wellness supplements is projected to reach a
substantial $365.17 billion by the year 2027, characterized by a noteworthy
CAGR of 7.1%. This forecast underscores the enduring demand for wellness
supplements and their role in promoting health and well-being, despite the
global uncertainties that loom large on the horizon. The wellness supplement
sector stands as a testament to the resilience and significance of industries
dedicated to enhancing human health and vitality.
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Tables):
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The wellness supplements market is currently experiencing a notable
surge in the realm of product innovations, a pivotal trend that is rapidly
gaining prominence. Prominent players within this industry have been actively
engaged in the development and introduction of novel products designed to
bolster their standing within the market landscape.
A striking case in point is observed in the activities of Zeonutra, an
Indian-based company renowned for its production of wellness supplement
products. In a significant move, Zeonutra unveiled a groundbreaking addition to
their product portfolio in February 2022 - the Slim Plus product. This product
stands out not only for its dedication to organic principles but also for its
unique blend of vegan nutritional supplements that incorporate a key ingredient
known as Slimbiome.
The Slim Plus product is designed to cater to the specific needs of
vegan consumers, delivering a wealth of health benefits, including the
facilitation of weight reduction through the use of natural, plant-based
supplements. This development signifies a remarkable confluence of innovation
and wellness, marking a substantial stride towards fostering healthier
lifestyles through the power of nutritional supplements. Such initiatives
reflect the industry's commitment to advancing both product quality and
consumer well-being in the dynamic wellness supplements market.
The wellness
supplement market is segmented:
1) By Product
Type: Dietary Supplements, Vitamin, Mineral, Protein, Herbal
2) By Functional
Food and Beverages: Omega Fatty Acids Fortified Food, Probiotic Fortified Food,
Branded Iodinated Salt, Branded Wheat Flour, Energy Drinks, Sports Drinks
3) By
Application: Home Care, Hospital, Chemical
North America was
the largest region in the wellness supplement market in 2022.
The table of contents in TBRC’s wellness supplement market report
includes:
1. Executive Summary
2. Wellness Supplements Market Characteristics
3. Wellness Supplements Market Trends And Strategies
4. Wellness Supplements Market – Macro Economic Scenario
5. Wellness Supplements Market Size And Growth
.
27. Wellness
Supplements Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Wellness Supplements Market
29. Wellness Supplements Market Future Outlook and Potential Analysis
30. Appendix
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with a network of proficient researchers in 28 countries. Through the report
businesses can gain a thorough understanding of the market’s size, growth rate,
major drivers and leading players.
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