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 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.
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.
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.
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.
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 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.