Expanding the geriatric population base, high hospitalization costs, and shifting focus towards preventive health care is propelling the dietary supplements industry growth.
Market Size – USD 147.8 Billion in 2019, Market Growth -
CAGR of 5.5%, Market Trends – Growing adoption of a healthy lifestyle and
increased demand for nutraceuticals.
According to a new report by Reports and data, The Global
Dietary Supplements Market size is forecast to reach USD 228.19 Billion from
USD 147.8 Billion in 2019, at a CAGR of 5.5% through 2027. Factors such as the
increasing income of consumers, hectic lifestyle, rising awareness regarding
nutrition & health, aging population, and prevalence of chronic diseases
are driving the dietary supplements industry growth.
Dietary supplements are products intended to supplement
the diet and enhance overall wellbeing. These supplements contain several
beneficial ingredients and can be consumed in various forms, including tablets,
pills, powder, syrup, and capsules. Consumption of dietary supplements may
provide various health benefits such as protection from cold & flu,
enhanced immunity, prevention of rheumatic diseases, migraine headaches, allergies,
lower blood pressure, cholesterol & triglyceride levels, and may also
prevent cardiovascular and cognitive diseases.
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A new trend in the dietary supplement industry involves
the introduction of micro and nano-encapsulations that solve solubility and
stability issues of bioactive compounds. The exponential growth of the sports
nutrition segment, high discounts on e-commerce sites, and increased use of
supplements for weight reduction are the factors supporting the market
expansion. Moreover, the recent outbreak of coronavirus and rising demand for
immunity boosting products, which, in turn, is supplementing dietary supplement
revenue share.
The e-commerce and m-commerce platforms are gaining
massive popularity for the purchase of health supplements as more and more
people are looking for preventive healthcare management. Good health is no more
a goal for consumers but is becoming a lifestyle choice for many. In addition,
mass media communications and advertisements fuelled by the pharmaceutical &
retail sectors are creating lucrative scope for industry growth. Furthermore,
factors such as cost-effectiveness, the convenience of direct purchase, and
self-medication in cases of minor health issues are poised to increase the
acceptance of dietary supplements over the projected time period.
Further key findings from the report suggest
·
On the basis of
application, the sports supplement segment is estimated to contribute USD 29
billion to the dietary supplements market share through 2027 due to increased
product demand from athletes and health-conscious consumers.
· Based on distribution
channel, the online segment is anticipated to witness the fastest growth rate
over the analysis period.
· In the regional
landscape, the North America dietary supplements market is estimated to gain
around USD 20.44 from the vitamin supplements segment through 2027. The
regional market is likely to expand on account of greater consumer awareness
regarding product usage and the rapid proliferation of mobile apps that assist
users with proper product intake routines.
·
The APAC region is
forecast to be the fastest-growing market for dietary supplements during the
forecast period. It has been observed that the Indian and Chinese parents were
willing to spend more on their children's health. High demand for
nutraceuticals in the region will foster dietary supplements market size.
·
Europe is forecast to
generate revenue close to USD 34 billion and exhibiting a notable growth rate
of 9.5% through 2027.
· Prominent players in the
dietary supplement market are Reckitt Benckiser Group, Abbott Laboratories,
DuPont, GlaxoSmithKline, Pfizer, Archer Daniel Midland, Amway, Glanbia
Nutritionals, Bayer, and Herbalife International, among others.
To identify the key trends in the industry, click on the
link below: https://www.reportsanddata.com/report-detail/dietary-supplements-market
Global dietary supplements market analysis is offered in
detail in this report. For the purpose of the study, Reports and Data has
segmented the dietary supplements market on the basis of ingredient, product,
application, distribution channel, and region:
Ingredient (Revenue, USD Million; 2017–2027)
·
Botanicals
·
Vitamins
·
Minerals
·
Protein & Amino acids
·
Enzymes
·
Others
Product (Revenue, USD Million; 2017–2027)
·
Tablets
·
Capsules
·
Powder
·
Liquid
·
Soft gels
·
Gel caps
Application (Revenue, USD Million; 2017–2027)
·
Additional Supplements
·
Medicinal Supplements
·
Sports Supplements
Distribution channel (Revenue, USD Million;
2017–2027)
·
Hospital Pharmacies & Drug Stores
·
Clinic Supermarkets & Hypermarkets
·
Online
·
Others
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Regional Outlook (Revenue in USD Million;
2017–2027)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
France
o
UK
o
Italy
o
Rest of the Europe
·
Asia Pacific
o
China
o
India
o
Japan
o
Rest of Asia-Pacific
·
Middle East & Africa
o
South Africa
o
Rest of Middle East & Africa
·
Latin America
o
Brazil
o
Rest of Latin America
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