The global nutritional supplements market size is expected to reach $620.8B by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.3% from 2022 to 2030. The awareness regarding health and fitness has been on an upward trend in the past few years. During the pandemic, this gained a lot of momentum and has resulted in the massive growth of the market. The increase in the prevalence of chronic diseases and non-communicable diseases has also fueled the growth of the market. Immunity-boosting supplements and food were in high demand across the globe. According to Nutrition Business Journal, there was a massive surge in the purchase of immune supplements, 17 out of 20 vitamin products were immunity-related.
The awareness pertaining to health and fitness has also risen in recent years. With this newfound interest in fitness and well-being, numerous products in the market catering to the needs of fitness enthusiasts and professional athletes have seen a big jump in their demand. A growing number of fitness clubs and gyms all over the globe, an increase in the consumption of products like protein supplements, and high demand for energy-boosting supplements are boosting the growth of the market.
Interest in functional foods has also risen and many people are opting for naturally sourced foods that are enriched with this necessary nutritional supplementation and are incorporating them into their diet. APAC emerged as the largest regional market in 2021. Japan was the first country to approve such foods, back in the 1980s and other countries have been following suit. The plant-based products have also gained a lot of traction with more and more people turning to a vegan diet for a more holistic approach to health.