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(Medical-NewsWire.com, October 05, 2018 ) According to the new market research report “Wellness Supplements Market by Product (Dietary Supplements (Vitamin, Mineral, Protein, Herbal), Functional/Fortified Food & Beverages, Food Intolerance (Gluten-Free, Lactose-Free), Dermo-Cosmetic Skin Essentials (Anti-Acne)) - Global Forecast to 2020”, analyzes and studies the major market drivers, restraints, opportunities, challenges, current market trends, and strategies impacting the wellness supplements market along with the estimates and forecasts of the revenue in North America, Europe, Asia, and the Rest of the World (RoW).
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The global Wellness Supplements market is expected to reach USD 249.4 Billion by 2020 from USD 183.1 Billion in 2015, at a CAGR of 6.4% during the forecast period.
The growth of this market is mainly driven by factors such as rising geriatric population, growing prevalence of chronic diseases, rising awareness about benefits of wellness supplements, rising healthcare costs, and shift of consumers from care to preventive health. However, high pricing of these products and regulatory compliance is likely to restrain the growth of this market to a certain extent.
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The report segments the wellness supplements market based on products and region. Based on products, the wellness supplements market is segmented into dietary supplements, functional/fortified food & beverages, food intolerance products and dermo-cosmetic essentials. The dietary supplements segment is expected to account for the largest share of the wellness supplements market, by product, in 2015. Factors driving growth in this segment are rising geriatric population, growing incidence of chronic diseases and increasing focus of consumers towards healthy lifestyles.
Geographically, the wellness supplements market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2015, North America is expected to dominate the market, followed by Europe. However, Asia and the RoW regions are expected to grow at the highest CAGRs of 7.5% each during the forecast period. Factors such as rising aging population, growing cognizance and acceptance of wellness products, increasing disposable income levels, increasing focus towards healthy lifestyles, expansion of wellness supplement companies in these regions are likely to propel growth of this market.
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The Wellness Supplements market is a fragmented market, with several big and emerging players. Prominent players in the wellness supplements market include 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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