Men’s Health Supplements Market Growth On The Basis Of Type, Application, Region & Forecast To 2030: Grand View Research Inc.

 

San Francisco, 08 September 2023: The Report Men’s Health Supplements Market Size, Share & Trends Analysis Report By Type (Sports Supplements, Reproductive Health Supplements), By Age Group, By Formulation, By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030

The global men’s health supplements market size is expected to reach USD 132.13 billion by 2030, according to a new report by Grand View Research, Inc. The market is estimated to register a CAGR of 9.70% from 2023 to 2030. Factors such as the changing lifestyle & stressful work environment along with rising age-related health concerns are projected to drive the market’s growth. In addition, rising competition in the market owing to the high consumer demand and rising emphasis of market players to manufacture quality supplements is another vital factor propelling the growth.

Rising age-related concerns among men are one of the major factors bolstering the demand for health supplements. As men age, they face a number of issues such as hair thinning, cardiovascular issues, immunity issues, performance issues, and prostate health issues among others. Health supplements often address these underlying age-related issues and support vitality and overall well-being. Some of the most selling supplements for male health are ADAM Superior Men’s Multivitamin and SmartyPants Men’s Complete, among others.

Moreover, the surging trend of veganism across the globe is projected to benefit the plant-based supplementation products which are anticipated to fuel the demand for plant-based dietary supplements over the forecast period. For instance, according to American Botanical Council, the retail sales of herbal supplements in the U.S. increased by 9.7% in the year 2021. The highest-selling herbal supplementation products in the U.S. were formulations containing elderberry, ashwagandha, and ginko which have a significant role in improving male health.

Furthermore, the high prevalence of lifestyle-associated disorders and robust demand for supplements to support normal body functions have facilitated novel product introductions and innovations. For instance, in October 2022 Pharmactive Biotech Products launched Liboost, an extract of Turnera diffusa to enhance sexual function in both women and men. The newly launched product is scientifically backed to boost sexual appetite and function.

The growth of the men’s health supplements industry can be attributed to the increasing attention toward maintaining health and the rising trend of preventive healthcare. Moreover, increasing nutritional deficiencies among men is another factor influencing the demand for health supplements for men. For instance, according to Fullscript, more than 40% of U.S. adults are vitamin D deficient.

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Men’s Health Supplements Market Report Highlights

• Weight management supplements dominated the market in 2022 with a revenue share of 35.76%. This large share can be attributed to the rising cases of obesity and related health ailments such as diabetes, cardiovascular diseases (CVDs), and hypertension
• Based on age group, the 31-45 segment was the largest revenue contributor for the industry with a share of 30.85% in 2022. The above 60 segment is expected to witness the fastest CAGR over the forecast period, owing to increasing life expectancy, rising awareness about wellbeing, and increasing disposable income
• Based on formulation, the capsule segment dominated the market with a revenue share of 35.38% in 2022. The higher revenue share is attributed to the high number of products available in capsule form owing to its lower cost, high convenience, high shelf life, and greater patient compliance
• Offline distribution channel segment dominated the global industry with a share of 74.35% in 2022, whereas the online segment is projected to register the highest CAGR during the projected period
• Asia Pacific region dominated the global industry in 2022 with a revenue share of 37.78%, owing to the availability large patient pool and robust demand for supplements

The COVID-19 pandemic had a positive impact on the men’s health supplements market as people became more conscious about their health and well-being. Moreover, it has shifted the paradigm toward preventive healthcare and thus the demand for men’s health supplements has increased. Traditionally marketers have focused on female consumers, but in recent times, men’s health supplements have gained popularity to help men maintain their fitness levels and energy. According to a report by the Council for Responsible Nutrition, around 73% of men use health supplements to support overall well-being and 42% of men’s supplement users are interested in supplements that offer complete health and wellness benefits. Thus, the changing consumption pattern of these products across men is likely to create momentum for the global market in the coming years.

Men’s Health Supplements Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 69.12 billion
Revenue forecast in 2030	USD 132.13 billion
Growth rate	CAGR of 9.70% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

List of Key Players in the Men’s Health Supplements Market

• Nature's Lab
• Nordic Naturals
• NOW Foods
• Irwin Naturals
• GNC
• The Vitamin Shopee
• Amway
• Life Extension
• New Chapter, Inc.
• Metagenics LLC