The global thyroid care supplement industry has a market valuation of approximately USD 890.9 million by 2024 and is expected to be at a CAGR of 6.7% and reach a market valuation of approximately USD 1,702.3 million by 2034.
Increasing incidents of thyroid disease, including hypothyroidism and hyperthyroidism, have surged the continually burgeoning market for a thyroid care supplement. The butterfly-shaped gland in the anterior part of the neck that regulates hormones plays a role in the proper functions of different processes.
Consumers have also become health-conscious, so that they tend to buy quality supplements, which is rich in iodine such as fish. Improved science of nutrition formulation and manufacturing techniques have ensured more variety in quality and affordability of thyroid care supplements. Clinical research also discovers that the application of several adaptogenic herbs such as ashwagandha may reduce the cases of thyroid diseases because it is thought to help balance the hormones, thus facilitating better overall health.
Diversified efforts are being implemented in order to attract more attention and disseminate knowledge to end-users. Equally so, new technologies that are assimilated into supplement formulation and manufacture thus yielding quality supplements with higher levels of nutrients making them more accessible and inexpensive to consumers. This has therefore amplified the growth rates of the global thyroid care supplements industry.
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Key Takeaways from the Global Thyroid Care Supplement Market Study:
- NxGen Brands, Inc., has made an announcement regarding its intention to acquire a nutritional supplement brand in the U.S., which is forecasted to generate USD 1 million in revenues in 2023. This will be NxGen’s second acquisition for this year, which is aimed at further diversifying its portfolio and countering competition in the nutraceutical space including thyroid care supplements.
- In the year 2021, a profile of Sichuan Deebio Pharmaceutical Co., Ltd. stepped in with its active pharmaceutical ingredients (APIs) formulations, gearing up pharmacies for modern, innovative thyroid value additions. Such APIs are part of Deebio’s efforts to stabilize and ensure the global API supply chain for thyroid medications to meet the emerging needs related to thyroid disorders.
“Manufacturers who pursue certification and accreditations as well as set up innovation hubs and centers for more R&D in the thyroid care supplement industry will enjoy the higher consumer trust and reliability and will move up the market leadership,” says Nandini Roy Choudhury, Client Partner at Future Market Insights.
Country-wise Insights
The following table shows the estimated growth rates of the top three territories. China and India are set to exhibit high consumption, recording CAGRs of 5.9 % and 6.7 %, respectively, through 2034.
| Country | CAGR, 2024 to 2034 | |
| Germany | 5.1% | |
| India | 6.7% | |
| China | 5.9% | |
Who is winning?
The competitive dynamics in the Thyroid Care Supplement sector are fuelled by innovation, partnerships, and digitalization, with market players constantly adapting to shifting client demands. Companies are employing technology to cater to the rising demands. Such platforms enable manufacturers to manage the production processes in real time, optimize the use of ingredients to achieve maximum production, thus achieving higher productivity. This enhances client relations and broadens the competitive market by creating unique selling points.
Some of these leaders of the Global Thyroid Care Supplement market are Nature Made, NOW Foods, Thorne Research, Pure Encapsulations, Life Extension, Standard Process, NutraChamps, Healths Harmony, Zhou Nutrition, Nutriana, MaryRuth Organics, Swanson Health Products, Garden of Life, Gaia Herbs, Solaray, Jarrow Formulas, Dr. Westin Childs, Makers Nutrition, and Acella Pharmaceuticals.
Get valuable insights into the Global Thyroid Care Supplement Market:
Future Market Insights, in its new offering, provides a thorough, detailed, and unbiased analysis of the Global Thyroid Care Supplement Market, presenting Historical Demand data for the years 2019-2023 and Forecast statistics for the years 2024-2034. The study categorizes valuable insights into the Global Thyroid Care Supplement Industry based on Ingredient Type, Form Type, Functionality type, End-User Type, Source Type, and Region Type. As per ingredient type, the industry has been categorized into Iodine, Selenium, Vitamins, Minerals, Herbs, Amino acid based, and Combination supplements. As per form type, the industry has been into Tablets, Capsules, Powders, Liquids, and Soft gels. As per functionality, the industry has been divided into Hypothyroidism Support, Hyperthyroidism Support, General Thyroid Health, Immune Support, Energy & Metabolism Support, and Others. As per end-user, this industry has been divided into Children, Adults, Pregnant Women, and Old-age people. As per source type, the industry has been into Plant-based, Animal-based and Synthetic. The study consists of the following regions- North America, Latin America, Western Europe, Eastern Europe, Balkans & Baltic, Russia & Belarus, Central Asia, East Asia, South Asia & Pacific, and Middle East & Africa.
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Key Segments of the Report
By Ingredients:
As per Ingredients, the industry has been categorized into Iodine, Selenium, Vitamins, Minerals, Herbs, Amino acid based, and Combination supplements.
By Form:
As per Form, the industry has been categorized into Tablets, Capsules, Powders, Liquids, and Soft gels.
By Functionality:
This segment is further categorized into Hypothyroidism Support, Hyperthyroidism Support, General Thyroid Health, Immune Support, Energy & Metabolism Support, and Others.
By End-User:
As per end-user this segment is categorized into Children, Adults, Pregnant Women, and Old-age people.
By Source:
As per end-user this segment is categorized into Plant-based, Animal-based and Synthetic.
By Region:
Industry analysis has been carried out in key countries of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, Central Asia, Russia & Belarus, Baltic and Balkans Countries and the Middle East & Africa.
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