Dietary Supplements Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast | Growth Market Reports

The global dietary supplements market is anticipated to expand at a substantial CAGR during the forecast period, between 2020 and 2027. Dietary supplements are substances that people use to add nutrients in their diet and reduce the risk of health problem such as arthritis and osteoporosis. Dietary supplements are available in various forms such as liquids, gel tabs, powders, capsules, pills, and extracts. It contains ingredients such as enzymes, amino acids, fibers, minerals, vitamins, and herbs or plant extract. Some dietary supplements can be added to foods and drinks.

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Market Trends, Drivers, Restraints, and Opportunities:

• Increase in disposable income, rapid urbanization, and rise in awareness regarding health issues are expected to boost the market during the forecast period.
• Positive outlook toward medical nutrition due to growing cases of cardiovascular diseases, and increase in weight management programs are projected to propel the demand for the dietary supplements in the future.
• Rise in awareness about concepts such as tailor-made and personalized supplements and nutritional products have increased the interest of consumers worldwide.
• Growth in R&D expenses for supplement and nutraceutical products is anticipated to create opportunities in the market.
• High prices of pre-immunized supplements and regular dietary supplements are expected to hamper the market during the forecast period.

Dietary Supplements Market Segment Insights:

Vitamin segment to hold significant market share

In the terms of ingredients, the market can be segmented into vitamins, botanicals, minerals, proteins & amino acids, fibers & specialty carbohydrates, omega fatty acids, and others. The vitamin segment is projected to grow, as it is used in various applications by sports athletes and working professionals and are available in various forms such as liquids, powders, and tablets.

Tablet segment to expand at a substantial pace

On the basis of forms, the dietary supplements market can be segregated into tablets, capsules, soft gels, powders, gummies, liquids, and others. The tablets segment is anticipated to hold a key share of the market due to its easy packaging techniques and cost-effectiveness. Moreover, tablets are preferred by customers due to their extended shelf-life.

Energy & weight management segment to grow rapidly

Based on of applications, the market can be fragmented into energy & weight management, general health, bone & joint health, gastrointestinal health, immunity, cardiac health, diabetes, anti-cancer, and others. The energy & weight management segment holds a significant share of the market, while the general health segment is projected to expand at a substantial CAGR during the forecast period. The energy & weight management segment is growing as the governments of various countries are taking initiatives by promoting the benefits of a healthy lifestyle and diet. Furthermore, rising trend of online weight loss programs fuels the segment growth.

Pharmacies & drug stores segment to hold a key share of the market

In terms of distribution channels, the market is divided into pharmacies & drug stores, supermarkets & hypermarkets, online channel, and others. The pharmacies & drug stores segment holds a key share of the market, as various types of supplement products are available for digestive health, personal care, and skin health.

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North America constituted a dominant share of the market

Based on regions, the dietary supplements market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is expected to hold a majority of the market due to growing demand for sport nutrition products. Moreover, increase in consciousness regarding the consumptions of proteins for sustaining optimum nutrition level and maintain muscles among middle-aged adults in developed countries such as Canada and the US is expected to propel the demand for dietary supplements during the forecast period.

Competitive Landscape:

Key players in the dietary supplements market include Abbott Laboratories, American Health, Amway, Archer Daniels Midland, Arkopharma Laboratoires Pharmaceutiques, Ayanda Group AS, Bayer, Bionova Lifesciences, Carlyle Group, NBTY Inc., DuPont, Ekomir, Glanbia, GlaxoSmithKline plc, Herbalife International, Himalaya Global Holdings Ltd, Nature’s Sunshine Forms, Nu Skin Enterprises, Nutraceutics Corporation, Pfizer, Stepan, and XanGo LLC. Mergers & acquisitions, collaborations, agreements, and partnerships are some strategies adopted by these players to strengthen their geographical presence.

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