Nutraceuticals & Dietary Supplements Industry

The industry is witnessing trends such as personalized nutrition, clean-label products, and preventive health measures.

The nutraceuticals and dietary supplements industry has experienced significant growth in most part of the year 2024, driven by several key factors. Advancements in personalized nutrition, enabled by genomics and individual health data, allow consumers to tailor supplements to their specific health needs, increasing demand for customized products. Additionally, there is a rising consumer preference for natural, organic, and functional ingredients, reflecting a broader trend towards health and wellness. This shift is further supported by the increasing availability of plant-based and clean-label supplements, catering to health-conscious individuals. Looking ahead to 2025, the Dietary supplements industry is poised for continued expansion, with projections indicating a CAGR of 7.6%, potentially reaching a market value of USD 192.6 billion by 2029.

This growth is expected to be fueled by ongoing innovations in supplement formulations, such as the incorporation of adaptogenic herbs and probiotics, which address specific health concerns like stress reduction and gut health. Furthermore, the increasing consumer interest in preventive health measures and longevity is anticipated to drive demand for supplements that support overall well-being and healthy aging.

Nestlé (Switzerland)

Nestlé, based in Vevey, Switzerland, is the world's largest food company in terms of revenue. Nestlé operates within the nutraceuticals and dietary supplements industry through its subsidiary, Nestlé Health Science. This division focuses on providing scientifically-backed nutritional solutions aimed at enhancing health and well-being across various life stages. Their product range includes oral nutritional supplements, medical nutrition, and specialized dietary products designed to support specific health needs, such as digestive health and immune support.

Nestlé Health Science emphasizes innovation in the nutraceutical sector by leveraging research and development to create effective dietary supplements. Their brands, like Nature's Bounty and BOOST, cater to diverse consumer needs, including multivitamins and protein-rich formulations. The company is committed to improving health outcomes through nutrition and actively seeks partnerships to expand its portfolio in this dynamic market.

In June 2024, Nestlé Health Science launched a personalized nutrition platform aimed at supporting individuals on weight loss journeys, particularly those using GLP-1 medications. This innovative resource addresses specific nutritional challenges faced during weight management, offering tailored solutions to help users maintain lean muscle mass, manage gut health, and ensure adequate micronutrient intake. Thus, it empowers healthier lifestyles through targeted dietary support.

BASF (Germany)

BASF is a leading global supplier in the nutraceuticals and dietary supplements industry, operating through its Nutrition & Health division. This division focuses on developing, producing, and marketing high-quality ingredients, including vitamins, carotenoids, and feed additives for both human and animal nutrition. BASF aims to enhance consumer health by addressing growing demands for sustainable and effective nutritional solutions. The company has invested in expanding its production capabilities, such as the recent enhancement of its vitamin A formulation plant in Germany, to meet the increasing market needs. With a commitment to safety, regulatory compliance, and sustainability, BASF plays a vital role in supporting the health and nutrition sectors globally, leveraging its strong technological expertise and extensive product portfolio to drive growth in this dynamic market.

ADM (US)

ADM is a leading player in the nutraceuticals and dietary supplements industry, recognized for its extensive agricultural supply chain management and processing capabilities. With a diverse portfolio that includes plant-based proteins, probiotics, natural flavors, and specialty food ingredients, ADM operates through three main segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. The company leverages its global footprint and innovation expertise to develop tailored solutions that meet the evolving nutritional needs of consumers. ADM's commitment to sustainability and health is reflected in its partnerships with growers and its focus on transforming natural products into high-quality dietary supplements that promote wellness worldwide.

Glanbia PLC (Ireland)

Glanbia Nutritionals is a leading player in the nutraceuticals and dietary supplements industry, recognized for its commitment to innovation and quality. The company specializes in developing science-based nutritional solutions that cater to a wide array of health needs, including immune support, weight management, and overall wellness. With a robust portfolio that includes vitamins, minerals, botanicals, and protein products, Glanbia leverages advanced technologies such as microencapsulation and granulation to enhance product functionality and bioavailability. Their recent launch of the TechVantage nutrient technology platform exemplifies their focus on addressing consumer demands for stable and effective nutritional products across various delivery formats, including powders, gummies, and beverages. Glanbia aims to empower consumers to lead healthier lives through tailored nutrition solutions by continuously evolving its offerings and responding to market trends.

International Flavors & Fragrances (US)

International Flavors & Fragrances (IFF) is a leading player in the nutraceuticals and dietary supplements industry, known for its innovative formulation technologies and commitment to enhancing product efficacy and consumer experience. The company focuses on developing plant-based solutions that address the growing consumer demand for vegan and vegetarian supplements, successfully overcoming formulation challenges associated with high viscosity and semi-liquid nutritional ingredients. IFF's portfolio includes a variety of functional ingredients such as cellulose-based excipients, soft gel technologies, and plant extracts, which support health categories like immune health, digestion, and metabolic wellness. With a strong emphasis on microbiome science and consumer insights, IFF aims to deliver tailored solutions that align with health-conscious trends in the market.

Herbalife International of America, Inc. (US)

Herbalife Nutrition Ltd is a prominent player in the nutraceuticals and dietary supplements industry, specializing in weight management, protein shakes, and targeted nutrition products. The company operates through a multi-level marketing model, leveraging a vast network of independent distributors to reach consumers globally. With an emphasis on quality and innovation, Herbalife's product offerings are designed to support various health goals, including weight loss and overall wellness.

Herbalife's extensive portfolio includes vitamins, minerals, and herbal supplements tailored to meet diverse nutritional needs. The company focuses on research and development, employing over 300 scientists to ensure product efficacy and safety.

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Nutraceuticals & Dietary Supplements Industry Outlook 2024 - Personalized Nutrition, Sustainability, and Technological Advancements Shaping the Future of Wellness

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