A recent market research report by Transparency Market Research presents a complete analytical overview of the global market for wellness supplements. The report is titled “Wellness Supplements Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2026.” According to the report, the global wellness supplements market is likely to expand at a remarkable pace over the next few years owing to an encouraging rise in awareness among the global population regarding the benefits of wellness supplements in tackling a variety of nutrition-related health conditions.
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With eating habits and lifestyles changing rapidly across the globe, incidences of nutrition-related and eating disorders, thus the number of health conditions, have seen a massive rise in the recent years. This is also expected to emerge as a key growth driver for the global wellness supplements market in the next few years. Wellness supplements are available in the form of a variety of formulations, including functional foods and beverages, derma-cosmetic skin products, food intolerance products, and dietary supplements. The market is also estimated to benefit massively from the rising disposable incomes of the global populations and the massive rise in the world’s geriatric population in the recent years.
On the other hand, the high cost of a variety of wellness supplements is likely to hinder the growth prospects of the market to a certain extent as the cost-sensitive consumers in emerging economies are hesitant towards investing large sums towards supplements. Moreover, the stringent regulations governing aspects such as quality checks and commercialization licenses are time-consuming and costly, thus making it difficult for a number of products to reach the end-market at economical rates. This could also negatively impact the market to a certain extent.
From a geographical standpoint, the market for wellness supplements has been analyzed in the report for regions such as Europe, Asia Pacific, North America, Latin America, and Middle East and Africa. Presently, the market in North America contributes the dominant share of revenue to the global market. Apart from the rising geriatric population and high disposable incomes of the population, the presence of manufacturing units of several leading manufacturers also bode well for the regional market.
The market in Asia Pacific is likely to expand at a healthy pace over the next few years. Despite being a relatively unexplored regional market owing to the presence of several emerging economies and low-income population, the regional market is likely to benefit from rising awareness regarding health and wellness among the young populations and rising disposable incomes.
The report presents a complete analytical overview of the vendor landscape of the global wellness supplements market. Some of the leading companies in the market are Otsuka Holdings Co. Ltd., Nestle S.A., Glanbia Plc., Amway, GNC Holdings Inc., Herbalife Ltd., Nu Skin Enterprises Inc., Abbott Laboratories, Forever Living, and Archer Daniels Midland Company.