According to Future Market Insights (FMI), the global healthy aging supplement market is projected to grow substantially, from US$ 1,406 million in 2024 to US$ 2,161 million by 2034. The market is set to surge at a notable CAGR of 5.9 % during the forecast period.
Several factors are anticipated to boost growth of the healthy aging supplement industry during the next ten years. These include increasing consumer awareness about health and well-being, growing senior citizen population, and the surging demand for natural and organic supplements.
The growing geriatric population fuels the market, promoting healthy aging and addressing age-related fitness concerns. The current lifestyle, characterized by stress and environmental factors, propel demand for products that prevent aging effects, promoting vitality, cognitive ability, and wellbeing.
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The United Nations (UN) predicts a significant increase in the global population aged 65 and above, from 863 million in 2019 to at least 1.7 billion by 2050. The demographic transition presents a substantial market for products and services catering to older individuals’ unique needs and preferences, particularly those seeking healthy aging and durability.
The healthy aging supplement industry is poised for significant growth due to the rise of personalized vitamins and fitness products. Developments in genetic research and personalized medicine allow for a more personalized approach to fitness goals, enhancing the efficacy of these supplements by providing tailored solutions to individual needs.
Integrating technology, including wearable devices and fitness applications, enables real-time measurement of fitness indicators for personalized anti-aging supplement guidelines. This data-driven approach aligns with customer empowerment in fitness management, promoting growth and innovation in the healthy aging supplement sector.
Key Takeaways from the Market Report:
- The healthy aging supplement market is projected to grow at a CAGR of 5.9% during the forecast period.
- Based on form, the capsule segment is set to account for a market share of 60% in 2024.
- By product type, the collagen segment is projected to hold a leading market share of 16.8%.
- The United States is set to record a CAGR of 4.5% through 2034.
- Revenue in India is projected to reach US$ 87.18 million in 2034.
“The healthy aging supplement industry is gaining momentum due to the growing focus on preventative healthcare. These supplements aim to improve wellness and protect against age-related health issues. Consumers’ desire for skin products and supplements is further projected to contribute to market expansion.” –says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).
Who is Winning?
Pure Encapsulations, Vital Nutrients, GNC, Nature’s Bounty, Life Extension, The Vitamin Shoppe, and MegaFoods are the key companies in the market. These top players are constantly upgrading their product portfolios and employing strategies such as advertising, partnerships, acquisitions, agreements, and mergers to stay ahead of the competition. For instance,
- In 2024, The Vitamin Shoppe® launched Pure Encapsulations® in The Vitamin Shoppe and Super Supplements stores.
- In 2021, Nestlé Health Science acquired The Bountiful Company, including Nature’s Bounty®.
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Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the healthy aging supplement market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the healthy aging supplement market based on product type (minerals, vitamins, CoQ10, collagen, biotin, hyaluronic acid, and others), form (tablet, powder, liquid, capsules), and distribution channel (stored based retailing, drug stores and pharmacies, health and wellness stores, other retailers, online retailing) across various regions.
About the Author:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results. Another feather to her cap manifests in the form of process automation. She is vocal about bringing automation to the fore to bring a 360-degrees-round revolution in manufacturing sector.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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