With the increasing growth of the health & wellness trend and consumers’ awareness about the necessity of adding diverse nutrients in diets, the demand for multi nutritional supplements increased significantly in the past few years.
Multi Nutritional Supplement Market is forecasted to register a 6.8% CAGR during the forecast period (2022-2032) and is projected to reach US$ 1.9 Billion by 2032
With the increasing growth of the health & wellness trend and consumers’ awareness about the necessity of adding diverse nutrients to diets, the demand for multi-nutritional supplements, as well as dietary supplements, has increased significantly in the past few years. Over-the-counter dietary supplements and multi-nutritional supplements are becoming a big business with a mounting number of consumers relying on these nutraceuticals for satisfying their daily dietary needs.
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Consumers are becoming aware of the importance of antioxidants, vitamins, and other nutrients, and it is directly influencing the sales of multi-nutritional supplements. In addition, with the increasing global prevalence of lifestyle diseases such as obesity, cardiovascular diseases, and diabetes, consumers are likely to depend on external nutritional supply to meet their dietary needs. The increasing dependency of consumers on multi-nutritional supplements for weight loss and obesity management will further bolster their demand in the coming years.
Consumers are preferring to consume multi-nutritional supplements instead of resorting to two or more two dietary supplements to get the essential nutrients. This is expected to support the growth of the multi-nutritional supplements market in the coming years. Leading players in multi-nutritional supplements are introducing products with health-benefiting ingredients such as vitamin D ingredients, vitamin C ingredients, and natural antioxidants.
Multi-nutritional Supplements Market – Competitive Landscape
Key stakeholders in the multi-nutritional supplements market Amway, Nature’s Bounty, Inc., Rexall Sundown, Inc., Puritan’s Pride, Inc., Osteo Bi-Flex, among the many others. Some of the notable developments in the competitive landscape of the multi-nutritional supplements market include:
Ever-growing Demand for Nutrition Supplements among Elderly Consumers
The consumption of multi-nutritional supplements is expected to remain significantly high across the geriatric population. A 2017 survey including 3,500 American adults aged 60 and older was published in The Journal of Nutrition, and it found that almost three-fourth of the participants consumed a daily multi-nutritional supplement (either individual vitamin or mineral or a multivitamin supplement), more than half of the participants said that they take one or two supplements, and more than one-fourth of the participants take four or more supplements.
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The Rise of Multi-nutritional Supplement Subscription Services Bring in New Trends
While the multi-nutritional supplements market is witnessing incremental growth worldwide, consumers’ need to maintain adherence to their nutritional program is triggering the rise of new market trends. A mounting number of leading players, as well as new entrants in the multi-nutritional supplements market, are introducing supplement subscription services integrated with advanced technologies to offer consumers more convenience at maintaining their daily nutritional intake.
Introducing subscription services that can offer more personalised recommendations about sustainable and high-quality multi-nutritional supplements is expected to emerge as a winning strategy for stakeholders in the coming future.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market.
Feb 18, 2024
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