Pune, 11/03/2020 / Story.KISSPR.com /
According to a research report by Facts and Factors, the global dietary supplements market in 2019 was approximately USD 167.8 Billion. The market is expected to grow above a CAGR of 9.0% and is anticipated to reach over USD 306.8 Billion by 2026.
The rates of obesity and the increasing prevalence of cardiovascular disorders across the globe are expected to impact the demand for dietary supplements globally. Dietary supplements help improve the immune system and achieve good health and well-. Dietary supplements can also replace prescription medications, as well as help reduce the severe wear and tear particularly for the elderly. Thus the lucrative growth is projected to occur during the forecast period.
The global demand for dietary supplements is powered mainly by rising health and fitness concerns. Rising demand worldwide for healthy medicinal products is also likely to drive growth in the dietary supplements industry. In addition, increasing demand for sport industry supplements is likely to have a positive impact over the projected timespan on the profit margin level of the market. Stringent rules and regulations, however, can hinder business development. Nevertheless, it is predicted that emerging markets, combined with rising per capita spending on healthcare in developed countries, will create avenues in the coming years.
Top key players operating in the market are Bio-Botanica Inc., The Himalaya Drug Company, Nu Skin Enterprises, Inc., Abbott Nutrition, Koninklijke DSM N.V., Pharmavite LLC, Axellus AS., Omega Protein, NBTY Inc, Bayer AG, Amway, BASF SE, Blackmores Ltd., Herbalife Ltd, and Others.
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Various types of dietary supplements’ forms include powder, capsules, tablets, and others. In 2019, the tablets segment led the global market for dietary supplements among those types. It accounted for over 40 percent of all-in 2019. In addition, the tablets segment is expected to experience the fastest growth over the coming years. This rise is primarily due to rising market demand for tablets, along with the easy availability of convenient dosage patterns. The category Capsules is the second-largest market type in 2019 and is also expected to show potential growth over the forecast period.
The global market for dietary supplements is divided into sports foods, medicinal supplements, and additional supplements, depending on use. In 2019, the largest portion of the global dietary supplement market was an additional supplement. This rise is due to the tremendous demand for additional drugs to treat and prevent various diseases. In 2019, new drugs accounted for over 40 percent market share. In addition, it is also expected in the near future to show tremendous growth in the margin of the market. Due to the rising sports industry worldwide, sports nutrition is expected to be the fastest-growing segment of the market in the next few years.
In 2019 the Asia Pacific led the global market of dietary supplements. In 2019, it represented more than 35 percent of total consumption. Together, China and India contributed as the region’s main consumers and dietary supplement manufacturers. Ongoing innovation and innovations combined with new product releases are expected to have a positive impact on the business margin in the years ahead. Particularly in India, the growing e-commerce revolution is expected to affect entirely the country’s online trading. This, in effect, would likely aid in the near future in the rising demand for dietary supplements. North America and Europe followed in 2019 Asia pacific. North America and Europe are expected to develop profitably in the coming years.
The dietary supplements market research report delivers an acute valuation and taxonomy of the dietary supplements industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the dietary supplements industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the dietary supplements industry is provided for the leading economies of the world.
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Dietary supplements are oral additives that help to improve the human body’s inner system. The primary function of dietary supplements is to help improve cell defense, wear and tear, regenerate, and promote the human body’s cycle of revitalization. Nutritional supplements are available in different forms such as pills, tablets, soft gels, powder, etc. Dietary supplements are viewed as traditional supplements, not as a drug that helps avoid illness and protect well-being and health.
The dietary supplements market is segmented based on type, application, and region. On the basis of type segmentation, the market is classified into vitamins, amino acids, botanicals, minerals, enzymes, and others. Based on the application, the market is segregated into sports nutrition, additional supplements, and medicinal supplements. Powder, capsules, tablets, and others are the major form of the market.
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.
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