Wellness Supplements Market was worth USD 207.59 billion in 2018 and estimated to be growing at a CAGR of 6.45%, to reach USD 283.75 billion by 2023. 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.

Market Drivers and Restraints:

The increase in the welfare supplement market is mainly due to factors such as the increase in the geriatric population, the increase in the prevalence of chronic diseases, the growing awareness of the benefits of wellness supplements and the increase in care costs. Medical, the fall in mortality rates, has increased the proportion of the aging population. Despite the numerous professionals, the market is hampered by the high prices of these products, which are unattainable for most parts of society. Compliance is another reason why the market is not growing freely.

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Report segmented as

By Product Type:

Dietary Supplements
Vitamin
Mineral
Protein and Herbal
Fortified Food & Beverages
By Type:

Omega Fatty Acid
Probiotic Food
Branded Iodinated Salt
Branded Wheat Flour
Energy Drinks
Sports Drinks and Fortified Juices
Geographical Analysis:

Based on geography, the global market is analyzed under various regions, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The Wellness Supplements Market is dominated by North America in 2018with 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.

Important Market Players:

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.).

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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