LONDON, Oct. 25, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company's research report on the wellness supplements market, an increasing focus on healthy lifestyles is expected to propel the growth of the wellness supplements market going forward. A healthy lifestyle keeps an individual energetic and reduces the risk for disease. Exercising, good nutrition, adequate sleep, and the intake of wellness supplements are the foundations of healthy living, which encourages people to incorporate health-improving supplement items into their daily lives. For instance, according to Economic Times, an India-based, business-focused daily newspaper, the number of health-conscious consumers in India would increase from 108 million in the calendar year 2020 to 176 million in 2026. Therefore, increasing focus on healthy lifestyles is driving the wellness supplements market growth.
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The global wellness supplements market size is expected to grow from $241.24 billion in 2021 to $257.60 billion in 2022 at a compound annual growth rate (CAGR) of 6.8%. The global wellness supplements industry size is expected to grow to $332.51 billion in 2026 at a compound annual growth rate (CAGR) of 6.6%.
Product innovations are a key trend gaining p+B216opularity in the wellness supplements market. Major companies operating in the wellness supplements market are developing new products to strengthen their position in the market. For instance, in February 2022, Zeonutra, an Indian-based company manufacturing wellness supplement products launched a slim plus product. This product is organic with unique organic vegan nutritional supplements that contain slimbiome. This can be used by vegan consumers and is helpful in the reduction of weight with natural supplements.
Major players in the wellness supplements market are Nestle, Shaklee Corporation, Otsuka Pharmaceutical Co. Ltd, GNC Holdings Inc, Archer Daniels Midland Company, The Bountiful Company, Pola Inc, OPTAVIA LLC, Biovencer Healthcare Private Limited, Natrol LLC, Nutracap Labs, Atlantic Essential Products Inc, Matsun Nutrition Inc, Randal Optimal Nutrients LLC, and Nutrafill LLC.
The global wellness supplements market is segmented by product type into dietary supplements, vitamin, mineral, protein, herbal; by functional food and beverages into omega fatty acids fortified food, probiotic fortified food, branded iodinated salt, branded wheat flour, energy drinks, sports drinks; by application into home care, hospital, chemical.
North America was the largest region in the wellness supplements market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global wellness supplements market during the forecast period. The regions covered in global wellness supplements market research report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Wellness Supplements Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide wellness supplements market forecast size and growth, wellness supplements market segments and geographies, wellness supplements market trends, drivers and restraints, leading competitors' revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors' approaches.
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