Dietary Supplements Market

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Dietary Supplements Market (Type - Vitamins, Botanicals, Minerals, Proteins & Amino Acids, Fibers & Specialty Carbohydrates, Omega Fatty Acids, and Others; Distribution Channel - Pharmacies & Drug Stores, Supermarkets & Hypermarkets, Online Channels, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : July, 2021

  • Rep Id : FB0134

  • Category : Food & Beverages

  • Status : Published

A recent report published by Infinium Global Research on the dietary supplements market provides in-depth analysis of segments and sub-segments in the global as well as regional dietary supplements market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional dietary supplements market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global dietary supplements market. According to the report, the global dietary supplements market is projected to grow at a CAGR of 6.5% over the forecast period of 2021-2027.

 

Market Insight

The dietary supplements market offers a wide variety of health benefits such as helping in the treatment of blood pressure, rheumatic disease, migraine headaches, and arthritis and in the building up of the immune system. Increasing healthcare expenditures have encouraged people to stay healthy by taking dietary supplements market to have a disease-free life and minimal medical expenses. Rising awareness about the need for a healthy diet has augmented the consumption of food that possesses potential health benefits. A dietary supplement contains one or more dietary ingredients or their components including vitamins, minerals, herbs or other botanicals, amino acids, and other substances.

 

The global dietary market was valued at nearly USD 178 billion in 2021 and its size is expected to reach approximately USD 260 billion in 2027, with a CAGR of 6.5% during the forecast period. In the past few years, the concept of preventive healthcare has come into popularity. The growth of the market is driven by the rise in awareness regarding preventive healthcare. As the name suggests, preventive healthcare focuses on the preventive measures for certain health issues rather than curing them when they occur. Furthermore, an increase in problems pertaining to digestion, demand for dietary supplements market among baby boomers, alertness of lifestyle diseases, and an increase in the aging population is likely to drive the growth of the market. Moreover, strict government regulations and guidelines, ignorance about the health benefits of dietary supplements, and extensive flow of unapproved supplement products are the key factors restraining the growth of this market. Increase R&D funding, growth in the e-commerce sector, and weight management are likely to bring more opportunities to this market. The major media channels play important role in spreading awareness about preventive healthcare. These media channels share information regarding preventive healthcare and the products such as nutritious foods and dietary supplements. This, in turn, increases the demand for dietary supplements.

 

The recent COVID-19 outbreak and the containment measures introduced by governments across the world have affected the pharmaceutical sector to a large extent. Consumer demand for dietary supplements is increasing as customers look to support their immune health, boost overall wellness and reduce anxiety in the face of the COVID-19 pandemic. Since the beginning of March 2020, weekly dietary supplement sales experienced growth of approximately 20%-140%, coupled with amplified social media interest.

 

Geographically, North America generated the highest revenue in the global dietary supplements market followed by Europe. Higher awareness about dietary supplements and preventive healthcare is the major driver for the growth of the market in North America. The Asia-Pacific is the fastest-growing market among the geographies due to increasing in awareness about the need for proactive personal healthcare practices. Moreover, Africa and the Middle East are expected to grow at a significant CAGR over the forecast period due to the changing lifestyle of the consumers.

 

Segment Covered

The report on global dietary supplements market covers segments such as type, and distribution channel. On the basis of type, the sub-markets include vitamins, botanicals, minerals, proteins & amino acids, fibers & specialty carbohydrates, omega fatty acids, and others. On the basis of distribution channel, the sub-markets include pharmacies & drug stores, supermarkets & hypermarkets, online channels, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Amway Corp, Abbott Laboratories, Bayer AG, Pfizer Inc., Nature's Bounty Co., GlaxoSmithKline plc., Nu Skin Enterprises, Herbalife International, Archer Daniels Midland Company, and Bio nova Lifesciences.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of dietary supplements market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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