The Global Cold And Flu Supplements Market size is expected to reach $35.5 billion by 2030, rising at a market growth of 11.9% CAGR during the forecast period.
The natural molecule segment generated a notable revenue share in the market. Therefore, the natural molecule segment is poised to acquire more than 33% share of the market by 2030. Compared to conventional pharmaceutical solutions, these dietary supplements, made from natural substances and components, offer a more holistic approach to treating the symptoms of a cold and an infection. The increasing need for preventive healthcare solutions, consumers' desire for natural and organic products, and more excellent knowledge of the possible adverse effects of traditional pharmaceuticals all contribute to the market's expansion. Some of the factors impacting the market are growing rate of respiratory infections, the rising burden of seasonal influenza, and authorities promoting vaccination for immunization.
Some communities are more susceptible to the direct & indirect effects of climate change than others on human health. According to estimates, there were 17-billion-episode infections of viral respiratory diseases among people worldwide in the year 2019. The flu season is associated with wet seasons in tropical areas. The lack of sunlight also increases the risk of respiratory tract infections. The increasing occurrence of respiratory illnesses, particularly in the winter, entices customers to look into supplements that help ease symptoms and hasten recovery. The influenza viruses that cause seasonal flu spread worldwide and cause acute respiratory infections. The severity of illnesses can range from moderate to fatal. High-risk groups are primarily affected by hospitalization and mortality. These yearly epidemics are predicted to cause 290,000 to 650,000 respiratory deaths and three to five million severe disease episodes globally. Public health is burdened by the high seasonal influenza rate, which demands effective intervention. Taking cold and flu supplements during the cold and flu season is recommended to help prevent contracting the illness. Due to the severity of seasonal influenza, this market is anticipated to rise rapidly.
However, Vaccination is the best method for preventing the illness. Safe and effective vaccines have been in use for more than 60 years. Even when the circulating viruses do not perfectly match the vaccination viruses, the influenza vaccine protects healthy individuals. For the growing older population, several governments have launched free yearly flu vaccination programs that might eventually impede the market's expansion. The increased preference for vaccination as an immunization is predicted to reduce this market.
The pandemic affected the accessibility of raw materials and production procedures in the early months by upsetting global supply chains. Some supplement businesses struggled to meet rising demand while maintaining constant output. The market for cold and flu supplements first experienced a mildly unfavorable impact. The COVID-19 pandemic did, however, raise people's health awareness. Additionally, the demand for cold and flu supplements is anticipated to rise because of people's growing awareness of the importance of immunological health.
On the basis of distribution channels, the market into pharmacies & drug stores, hypermarkets & supermarkets, online, and others. In 2022, the pharmacies & drug stores segment witnessed the largest revenue share in the market. Increasing sales through this channel is primarily attributable to pharmacies and drugstores, which have qualified pharmacists on staff who can offer knowledgeable direction and assistance to customers looking for cold and flu supplements. These experts can advise on a patient's needs, current prescriptions, and potential drug interactions. Customers are given confidence by the presence of educated employees, which motivates them to buy supplements from these reputable healthcare companies.
Based on product, the market is segmented into vitamins & minerals, herbal extracts, and natural molecules. In 2022, the herbal extracts segment garnered a significant revenue share in the market. For a very long time, traditional medicine has employed herbal extracts to treat various illnesses, such as the flu and colds. These extracts, which come from different plant components like roots, leaves, and flowers, include a variety of bioactive substances that may be beneficial to health. Due to rising customer preference for natural & plant-based therapies, this market based on herbal extracts has seen significant expansion.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 14.9 Billion |
| Market size forecast in 2030 | USD 35.5 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 11.9% from 2023 to 2030 |
| Number of Pages | 197 |
| Number of Table | 270 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Product, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Free Valuable Insights: Global Cold And Flu Supplements Market size to reach USD 35.5 Billion by 2030
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market with the maximum revenue share. A greater emphasis is placed on keeping a healthy diet and way of life as North Americans embrace health consciousness. With elements like vitamin D, vitamin C, and zinc becoming widely used, this change has caused a rise in the acceptance of health supplements. Specific ingredients and quantities are used to formulate these supplements to treat various health issues, such as respiratory health, immunity, and cognitive function. This development demonstrates the rising consumer desire for products supporting wellness and addressing particular health needs.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nordic Naturals, Inc., Nature's Way Products LLC (Dr. Willmar Schwabe GmbH & Co. KG), Pfizer, Inc., Amway Corporation, NOW Foods, Inc., Wakunaga of America Co., Ltd. (Wakunaga Pharmaceutical Co., Ltd.), Neurobiologix, Inc., Himalaya Global Holdings Ltd., Nu Skin Enterprises, Inc., and Nature’s Sunshine Products, Inc.
By Product
By Distribution Channel
By Geography
The Market size is projected to reach USD 35.5 billion by 2030.
Growing rate of respiratory infections are driving the Market in coming years, however, Authorities promoting vaccination for immunization restraints the growth of the Market.
Nordic Naturals, Inc., Nature's Way Products LLC (Dr. Willmar Schwabe GmbH & Co. KG), Pfizer, Inc., Amway Corporation, NOW Foods, Inc., Wakunaga of America Co., Ltd. (Wakunaga Pharmaceutical Co., Ltd.), Neurobiologix, Inc., Himalaya Global Holdings Ltd., Nu Skin Enterprises, Inc., and Nature's Sunshine Products, Inc.
The expected CAGR of this Market is 11.9% from 2023 to 2030.
The Vitamins & Minerals segment is leading the Global Cold And Flu Supplements Market by Product in 2022; thereby, achieving a market value of $14.1 billion by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $10.0 billion by 2030.
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