WELLNESS SUPPLEMENTS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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With growing preferences for natural products, the wellness industry has seen a strong demand for clean label options. Consumers are wary of synthetic and chemically-processed ingredients in supplements. There is a clear shift to products which are free from common allergens, are plant-based, contain fewer ingredients, and have transparent labeling. The clean label trend has picked up significantly in recent years, influencing both product development cycles as well as purchase decisions. Customers give preference to supplements derived from natural sources like herbs, plants, and fruits which are perceived to be more familiar to the body with little or no side effects. Even for common supplement categories like vitamins and minerals, offerings from natural sources are preferred over the synthetic variants available in the market. Similarly, preference for vegan supplements has also increased manifold as more people adopt plant-based diets and lifestyles. Additionally, absence of major allergens like gluten, soy, and dairy is an important purchase criterion. With greater awareness of supplement ingredients, consumers check labels carefully for unnecessary additives and chemically-altered substances. Thus, supplement brands are formulating cleaner label, natural products to meet evolved consumer preferences. This consumer behavior is fueling the market growth.

• Abbott
• Reckitt Benckiser Group PLC.
• Hexagonnutrition Ltd.
• Nestlé
• Danone
• Baxter
• Fresenius Kabi AG
• B. Braun SE
• Perrigo Company plc
• Sun Pharmaceutical Industries Ltd.
• Centrum (GSK plc.)
• BASF SE
• DSM
• Zeon Lifesciences Ltd.
• Cipla Inc.
• ADM
• Amway Corp. 
• Glanbia PLC