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Health Supplements Market (Type - Dietary Supplements, Body Building Supplements, Eye Health Supplements, Specialty Supplements, and Others; Application - Cardiology, Rheumatic Disorders, Allergy, and Others; Ingredients - Vitamins & Minerals, Amino Acids, Botanicals, Enzymes, and Others; End User - Hospitals, Clinics, Research Centers, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : March, 2021

  • Rep Id : HC0063

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on the health supplements market provides in-depth analysis of segments and sub-segments in the global as well as regional health supplements market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional health supplements market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global health supplements market. According to the report, the global health supplements market is projected to grow at a CAGR of 7.85% over the forecast period of 2020-2026.

 

Market Insight

The term health supplements are evolving and the nomenclature for health supplements varies across countries. For e.g., Canada naming them natural and non-prescription health products, the USA calling them dietary supplements, and Japan naming them “foods with health claims”. This has resulted in different countries including different categories for defining health supplements. There are an extensive amount of health and beauty supplements on the market, and they become more innovative every year. Health supplement trends will evolve in 2021 as individuals and the integrative health industry continue to respond to the global pandemic.

 

Increasing chronic diseases due to the fast-phased lifestyle of consumer’s results in raising awareness in a healthy diet are the prime factor driving the growth of the global health supplements market. Furthermore, the rising use of nutraceutical ingredients in pharmaceutical drugs due to its properties such as anti-aging, proper body functioning, and health improvement will drive the health supplements market globally. Moreover, the increasing use of health supplements in food and beverage applications and dietary supplements is anticipated to further drive the global health supplements market over the forecast period. Health supplements also help with the treatment of rheumatic disorders, cardiology, and allergy. Thus, a wide range of applications boosts the growth of the global health supplements market. However, strict government regulations and guidelines, and extensive flow of unapproved supplement products are the key factors restraining the growth of this market. Moreover, an increase in R&D funding, growth in the e-commerce sector, and weight management are likely to bring more opportunities to this market. 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 health 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 health supplement sales experienced growth of approximately 20%-140%, coupled with amplified social media interest.

 

Among the regions, North America holds the highest market share and expected to continue its growth followed by Europe. Higher awareness about health supplements and preventive healthcare is the major driver for the growth of the market in North America. Europe holds a significant market share in the global health supplements market due to the factors such as availability of advanced products, increasing awareness about the benefits of health supplements, high healthcare spending, and increasing government support for research & development. Asia Pacific is expected to hold the highest CAGR in the forecast period owing to the rising prevalence of diseases in this region.

 

Segment Covered

The report on global health supplements market covers segments such as type, application, ingredients, and end user. On the basis of type, the sub-markets include dietary supplements, body building supplements, eye health supplements, specialty supplements, and others. On the basis of application, the sub-markets include cardiology, rheumatic disorders, allergy, and others. On the basis of ingredients, the sub-markets include vitamins & minerals, amino acids, botanicals, enzymes, and others. On the basis of end user, the sub-markets include hospitals, clinics, research centers, and others.



Health Supplements Market


 

Companies Profiled:

The report provides profiles of the companies in the market such as BASF SE, Herblife International, Glanbia plc, E. I. du Pont de Nemours and Company, P&G, Abbott Laboratories, Alticor Inc., Bayer AG, GlaxoSmithKline Limited, and The Nature's Bounty Co.

 

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 the health supplements market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. 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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