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 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.
Consumers are becoming aware about 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. 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 than 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 the multi-nutritional supplements are introducing products with health benefiting ingredients such as vitamin D ingredients, vitamin C ingredients, and natural antioxidants. By boosting research & development in the discovery of innovative and more health-benefitting ingredients, stakeholders are aiming to gain a competitive edge in the multi-nutritional supplements market.
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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:
- In April 2019, Healthycell – a leading innovator of nutritional microgels – announced the launch of the next generation of its multi-nutritional supplements – BIOACTIVE GEL™ supplements, which are manufactured using its patent-pending microgel technology to maximize the absorption of micronutrients in a pill-free delivery system. The company also announced that its new product includes a broad spectrum of essential micronutrients such as vitamins and minerals in a pill-free, efficient, and a great-tasting format.
- In March 2019, Persona™ nutrition – a leading personalized vitamin program – announced that its personalized nutrition subscription system will now make available its 11 new multi-nutritional supplements along with its other 80 vitamin supplements. The latest supplements were announced to include an innovative combination of products that can help consumers to cut down on the number of capsules they consume each day, along with new vegan multi-nutritional supplements in the form of softgels, as well as a specialized nutrition program for bariatric patients.
- In December 2018, Pillsy – a startup and a smart pill bottle cap manufacturing company – announced that it is launching its subsidiary that can offer multi-nutritional supplement subscription services by pairing the adherence technology. At this stage, the company is offering three different combinations of multi-nutritional supplements viz. an Omega 3 blend, a multivitamin blend, and a probiotic blend, while offering a technology-enabled service to assist consumers in managing their nutritional intake.
Factors Influencing Growth of the Multi-nutritional Supplements Market
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. Taking into consideration this trend, leading players in the multi-nutritional supplements market are expected to focus on introducing older adults health supplements in the coming years, to improve their sales.
Studies Creating Ambiguity about the Health Benefits of Multi-nutritional Supplements
While the number of consumers relying on dietary, probiotic supplements, as well as multi-nutritional supplements is increasing at a rapid pace, some recent studies suggest that these supplements may not be entirely effective in improving health. A survey included over 27,000 American adults aged 20 or older suggests that dietary supplements or multi-nutritional supplements fail to offer the same health benefits as natural fruits and vegetables ingredients do.
Another study performed on over 30,000 American adults finds that multi-nutritional supplement are not only ineffective in improving health of consumers but also carry the risk of posing harm to their health. Such studies are creating an ambiguity about the effectiveness of multi-nutritional supplements on consumer health and potentially hazards of consuming them. This may negatively impact the growth of the multi-nutritional supplements market.
Multi-nutritional Supplements witness High Demand in Sports Nutrition Industry
High consumption of food supplements and multi-nutritional supplements among consumers aged 60 or more is expected to make them the primary target consumer base for stakeholders in the multi-nutritional supplements market. However, leading market players are also entering the sports food market and fitness nutrition industry, by introducing product with innovative ingredients for muscle building, to explore the profitable sales opportunities for multi-nutritional supplements in this industrial scenario.
Health- and fitness-conscious consumers are showing proclivity towards relying on multi-nutritional supplements for improving strength, endurance, and athletic performance. In the sports nutrition industry, multi-nutritional supplements in the form of tablets, capsules, powders, bars, and liquids are gaining immense popularity. Thereby, leading players are expected to introduce multi-nutritional supplements for professional sportspersons and athletes to further boost their product sales in the coming years.
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.
The research report presents a comprehensive assessment of the multi-nutritional supplements market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The multi-nutritional supplements market is broadly segmented according to the ingredient type, application, and region.
The report covers exhaustive analysis on:
- Multi-nutritional Supplements Market Segments
- Multi-nutritional Supplements Market Dynamics
- Multi-nutritional Supplements Market Size
- Multi-nutritional Supplements Supply and Demand
- Current Trends/Issues/Challenges pertaining to Multi-nutritional Supplements Market
- Competition Landscape and Emerging Market Participants in Multi-nutritional Supplements Market
- Technology related to Production/Processing of Multi-nutritional Supplements
- Value Chain Analysis of the Multi-nutritional Supplements Market
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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- A detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size regarding volume and value
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- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint