“Wellness is an approach to life we each design
to achieve our highest potential for well-being now and forever.” – Greg Anderson
Recent market research shows the Wellness Supplements Market will grow from $183.1 billion in 2015 to $249.4 billion by 2020, at a Compound Annual Growth Rate or CAGR of 6.4% during the forecast period. CAGR shows the mean annual growth rate over a certain period longer than 1 year. This market research report was published by Markets and Markets.
Wellness Supplements Market
According to the above-mentioned report, the Wellness Supplements Market, a fragmented market, has a number of big and startup players.
The big players 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.)
- Nu Skin Enterprises, Inc. (U.S.).
The emerging players include:
- GrupoOmnilife (Mexico)
- Forever Living (U.S.)
- Pola, Inc. (Japan)
- Shaklee Corporation (U.S.)
- Usana Health Sciences Inc. (U.S.).
Moreover, the Wellness Supplements Market is based on products:
- Dietary supplements (herbal supplements, minerals, proteins, vitamins)
- Fortified or functional food and beverages
- Food intolerance (gluten-free and lactose-free)
- Dermocosmetic skin essentials such as antiacne
Finally, the Wellness Supplements Market is based on regions:
- North America
- The Rest of the World (RoW).
Asia and the RoW are expected to grow at CAGR of 7.5% (the highest)during the forecast period.
The Growth of Wellness Supplements Market
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As for the rise of the Wellness Supplements Market, it is basically conditioned by such factors as the growth of geriatric population, chronic diseases, healthcare costs, the number of consumers shifting from care to preventive health, and the fact that people are becoming more aware of the benefits of wellness supplements.
The only factor that could somehow impede the growth of the market is related to higher prices of these products and regulatory compliance. The latter has to do with regulations, laws, specifications and guidelines related to the given business. However, wellness supplement companies go on expanding as the number of people choosing a healthy lifestyle is on a roll.