The global cold and flu supplements market size was valued at USD 13.85 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 6.6% from 2020 to 2027. Changing lifestyle, along with enhanced access to supplements through offline as well as online stores, has been generating demand for cold and flu supplements across the world. Furthermore, improving consumers’ knowledge about the medicinal properties of several natural ingredients is driving the demand for cold and flu supplements and over-the-counter (OTC) medicines. Moreover, increasing purchasing power of the consumers across the world is projected to raise the spending on several immune health products, including cold and flu supplements.
According to the World Health Organization (WHO), around 290,000 to 650,000 people die per year due to the flu. Therefore, demand for cold and flu supplements has been increasing among the consumers in order to boost immunity and prevent the occurrences of such diseases. Cold and flu supplements are primarily consumed to enhance the immunity system of the individual. In addition, the market is expected to grow at a healthy rate owing to rising consumer awareness about the benefits of the consumption of cold and flu supplements.
Products or supplements labeled with natural and immunity-boosting claims have a wide opportunity among the consumers as they highlight the consumers’ requirements. These cold and flu supplements are available in different forms, among them, tablets and capsules are the most popular forms. Brand extensions and product innovations have been leading the growth of the cold and flu supplements industry. Furthermore, the outbreak of coronavirus in 2020 has drastically increased the sales of the preventive products, such as vitamins and minerals, across the globe. Especially, the demand for vitamin C has been witnessing a remarkable increase.
The governments of several nations have been providing free flu immunization each year to the growing aging population. These initiatives might hamper the growth of the industry in the upcoming years. On the other hand, rising investment by the manufacturers in product development will boost the sales of cold and flu supplements in the near future. Furthermore, rising awareness among consumers about seasonal diseases and their increasing expenditure on health will fuel the growth of the cold and flu supplements market.
The vitamins and minerals segment dominated the industry for cold and flu supplements with more than 35.0% share of the total revenue in 2019. Vitamin C and Zinc are the most common products of this segment. However, vitamin C does not reduce the severity or the number of occurrences of the disease. On the other hand, a number of studies have proved that the consumption of vitamin C as a minimum of 200 milligrams daily can prevent colds among the consumers having pneumonia. As a result, some of the consumers take vitamin C daily, whereas others take it once they get the disease. Similarly, some studies have found that the consumption of zinc can shorten the duration of the disease.
Cold and flu herbal extract products are expected to outperform other segments in the upcoming years. Over the past few years, products containing ginger, Echinacea, garlic, elderberry, turmeric, and ginkgo have been witnessing remarkable demand across the globe. These herbals help in boosting immunity and fighting with viruses. Ginger is medically proved and is considered to be a useful treatment for sore throats as it contains bioactive compounds, which have anti-inflammatory properties. Similarly, garlic decreases the threat of becoming sick and the duration of the illness, including cold and flu. Therefore, during the season of cold and flu, consumers’ spending on herbal extracts increases significantly. Furthermore, supplements having immunity boost label on them have been gaining more traction among the consumers.
Asia Pacific dominated the market for cold and flu supplements in 2019 with more than 30.0% share of the global revenue. Increased number of middle-class groups in China and India, along with government initiatives, has enhanced the health consciousness among the consumers. As a result, spending on immunity-boosting or precaution from sickness has increased significantly in the region. Consumers of this region prefer natural and herbal products over modern medicines owing to their fewer side effects and low toxicity. In addition, government initiatives, along with a large aging population, have been boosting the demand for preventive medicine, such as cold and flu supplements, in China and Japan, thus fueling the regional market growth.
Europe is expected to witness the fastest growth over the forecast period. Growing adoption of natural supplements in countries, including Germany and France, has been creating opportunities for the cold and flu supplements industry in the region. Moreover, increased purchasing power, along with rising health concerns among consumers, is projected to contribute to the market growth in this region.
Easy access of pharmaceutical ingredients and a strong customer base in emerging economies, including China and India, is expected to compel the industry participants to establish their alliances in these countries in the near future. The players have been increasingly investing in research & development to develop innovative and advanced products in order to gain a competitive advantage over their competitors. Furthermore, the growing interest of the consumers in herbal products will encourage manufacturers to expand their product portfolio in the near future. Wide expansion of e-commerce has strengthened the distribution networks of the competitors and is expected to play a key role in expanding the buyer reach over the next few years. Some of the prominent players in the cold and flu supplements market include:
WAKUNAGA OF AMERICA CO., LTD.
Neurobiologix, Inc.
The Vitamin Shoppe
KLAIRE LABS
Nordic Naturals
Himalaya Global Holdings Ltd.
Nature's Way Products, LLC (Dr. Willmar Schwabe GmbH & Co. KG)
FineVine
Flora Inc.
Pfizer Inc.
GlaxoSmithKline plc
NOW Foods
Report Attribute |
Details |
Market size value in 2020 |
USD 15.23 billion |
Revenue forecast in 2027 |
USD 23.11 billion |
Growth Rate |
CAGR of 6.6% from 2020 to 2027 |
Base year for estimation |
2019 |
Historical data |
2016 - 2018 |
Forecast period |
2020 - 2027 |
Quantitative units |
Revenue in USD million and CAGR from 2020 to 2027 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country scope |
U.S.; Germany; France; China; Japan; Brazil |
Key companies profiled |
WAKUNAGA OF AMERICA CO., LTD.; Neurobiologix, Inc.; The Vitamin Shoppe; KLAIRE LABS; Nordic Naturals; Himalaya Global Holdings Ltd.; Nature's Way Products, LLC (Dr. Willmar Schwabe GmbH & Co. KG); FineVine; Flora Inc.; Pfizer Inc.; GlaxoSmithKline plc; NOW Foods |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global cold and flu supplements market report based on product and region:
Product Outlook (Revenue, USD Million, 2016 - 2027)
Natural Molecules
Herbal Extracts
Vitamins & Minerals
Regional Outlook (Revenue, USD Million, 2016 - 2027)
North America
The U.S.
Europe
Germany
France
Asia Pacific
China
Japan
Central & South America
Brazil
Middle East & Africa
b. The global cold and flu supplements market size was estimated at USD 13.85 billion in 2019 and is expected to reach USD 15.23 billion in 2020.
b. The global cold and flu supplements market is expected to grow at a compound annual growth rate of 6.6% from 2020 to 2027 to reach USD 23.11 billion by 2027.
b. Asia Pacific dominated the cold and flu supplements market with a share of 34.0% in 2019. This is attributed to the increased number of middle classes ialong with governmental initiatives in emerging economies including China and India.
b. Some key players operating in the cold and flu supplements market include WAKUNAGA OF AMERICA CO., LTD., Neurobiologix, Inc., The Vitamin Shoppe, KLAIRE LABS, Nordic Naturals, Himalaya Global Holdings Ltd., Nature's Way Products, LLC (Dr. Willmar Schwabe GmbH & Co. KG), FineVine, Flora Inc., Pfizer Inc., GlaxoSmithKline plc, and NOW Foods.
b. Key factors that are driving the market growth include changing lifestyle, enhanced access to supplements through offline as well as online stores and improving consumers’ knowledge about medicinal properties of several natural ingredients.
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