Food Supplement Ingredients Market to 2024 - Growth and Trends Analysis by Regional Players

Food supplement ingredients market could reach US$2 billion in terms of annual value by 2024

Consumers worldwide are looking for convenient and more enjoyable experiences with supplements. This is why many products are beginning to be offered as gummies, powders, capsules, and flavored drinks. With supplements becoming a part of a healthy lifestyles, consumers are also expecting companies to create products that can fit seamlessly into their daily routine.

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The food supplement ingredients market is projected to grow exponentially over the coming years. A steady rise in food supplements has been observed in recent years, especially after the worldwide outbreak of the COVID-19 pandemic which has significantly highlighted the importance of immunity and overall health. Health trends are changing and individuals are increasingly turning to dietary supplements as a preventive measure against numerous health problems.

In the U.S., for example, the 2019 Consumer Survey on Dietary Supplements by the Council for Responsible Nutrition (CRN) revealed that over 77% of adults take food supplements. The most common reasons that adults reported taking supplements were to maintain overall health, boost immunity, and prevent the risk of diseases. 

Globally, the adult population has been among the leading adopters of different health supplements. A vast majority of adults are paying increased attention to health and fitness which has been a key factor supporting this trend.

As people’s lifestyles become busier and more hectic, the importance of personal health and wellbeing will only increase.

In fact, Google Ads had reported that search inquiries for collagen rose by around 33% between March and December last year. The market for collagen peptide based food supplements had generated USD 30 million in revenue in 2017 and should grow considerably in the future.

Collagen peptides are among the top beauty enhancing ingredients which are also the main structural protein in the body, accounting for about one-third of the total protein content. However, natural collagen production decreases with age, resulting in wrinkles, weaker joints, and other signs of aging.

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The COVID-19 outbreak has led to dramatic changes in people’s day-to-day lives. The year 2020 was filled with stressful and life-changing events which have led to increased stress and mental issues among all age groups. Even after the pandemic, nutritional supplements with vitamins, probiotics, omega-3, amino acids, collagen peptides, iron, magnesium, and other ingredients are expected to be in demand.

Beauty, skincare, and haircare supplements use is expected to grow substantially in the near future as consumers become more conscious regarding their looks and appearance. Collagen peptides are among the key ingredients in these supplements and have gained notable popularity in the past few years.

A diet rich in collagen peptides is linked to better skin health with fewer wrinkles and fine lines. As more and more consumers explore options to make for the age-related skin issues, supplement manufacturers are introducing newer varieties of collagen supplements.

Last year in November, for instance, Florida based Life Extension had launched a convenient daily collagen supplement called Collagen Peptides for Skin and Joints. The product mixes with water easily and consumers can also take it with their favorite nutritious beverage.

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