The green supplements market size is likely to reach US$ 563.3 Mn in 2022 and further expand at 3.8% CAGR during the forecast period, to total US$ 818.0 Mn by 2032.
Growing demand for plant-based products and rising awareness about the health benefits of green supplements are the key factors driving growth in the global market.
Plant-based products are both healthier and safer than animal-based products. As a result, they are gaining immense traction particularly across developed regions. Growing popularity of veganism will therefore eventually boost the growth of green supplements market during the forecast period.
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Green Supplements are linked to a number of health benefits. They are rich in vitamins, minerals, and antioxidants. Various studies have revealed that consumption of green supplements can improve sleep, boost energy, and lower levels of inflammation in their bodies.
Another factor driving the increased sales of green supplements is the popularity of alternative medicine. More and more people are turning to natural remedies for their health needs, and green supplements are a great way to get all the nutrients.
To keep up with the green supplements market trends, leading manufacturers are developing novel ways to incorporate this product into various processed foods.
Key Takeaways:
- Based on form, the powder segment is expected to grow at 3.1% CAGR during the forecast period (2022-2032).
- India currently has a Green Supplement market share of around 5.0 % in the South Asian market.
- The green supplements market in the U.K, is expected to grow at a moderate CAGR of 3.9% over the next ten years.
- North America is likely to hold around 34% share of the global green supplement market during the forecast period.
- The U.S. green supplement market is expected to reach a valuation of US$ 345 Bn in 2022.
The green supplement market in the U.K. is currently valued at US$ 434.0 Mn and it is poised to grow at a steady pace during the forecast period
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“Green supplements are versatile products that have a wide array of applications from functional foods and energy drinks to pharmaceuticals and dietary supplements. With rising health awareness and lactose intolerance, consumers are shifting towards green supplements owing to their organic, natural, plant-based characteristics which will assist the growth of the market over the next ten years,” says a lead analyst at Future Market Insights.
Competitive landscape:
Top 5 manufacturers of green supplements are GNC Holdings, Inc., Vitamin Shoppe, Inc., The Nature’s Bounty Co., . NBTY, Inc., Amway Corporation, collectively holding 20% to 30% of the overall market share.
These companies are adopting strategies such as new product launches and approvals, mergers, partnerships, acquisitions, and partnerships to increase their sales.
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Future Market Insights, in its new offering, provides an unbiased analysis of Green Supplements presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study provides valuable insight on the green supplements market based by form (powder, capsule, and liquid), packaging type (bottle, can, jar, sachet), application (pharmaceuticals, food & beverages, rtd teas, functional foods, dietary supplements, energy drinks, others, cosmetics)
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