Healthy Aging Supplement Market 2024 Growth Drivers, Regional Outlook Till 2034
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.
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.
Information Source:
https://www.futuremarketinsights.com/reports/healthy-aging-supplement-market
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®.
Get More Valuable Insights
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.
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