Dietary Supplements Market [By Type (Vitamins, Minerals, Amino Acids, Botanicals, Others); By Form (Tablets, Capsules, Powder, Soft Gels, Liquids, Others); By Distribution Channel (Offline Stores, Online Platforms); By End-User (Adults, Children, Infants, Pregnant Women, Geriatric); By Region]: Market Size & Forecast, 2020 – 2026
The Global Dietary Supplements Market is estimated to grow at a CAGR of 10.5% during the forecast period 2020-2026. As per the analysis, the dietary supplements market was valued $175.6 billion in the year 2019.
The Dietary supplements industry is seeing huge growth opportunities, as Governments across the globe are funding to promote healthy lifestyle as a result of changing lifestyle and increasing obese population worldwide. Growth in the industry is also due to other driving factors like hypertension, sedentary lifestyle, diabetes and increase in the spending capacity of people.
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Due to significant increase in number of obese people in the world there is increase in the demand for consumption of supplements. As per the statistics by the New England Journal of Medicine, ~2.2 billion people were reported obese which included children and adults in the year 2015. Increasing awareness on nutrition and concern over health awareness has created high demand for dietary supplements that in turn has promoted the market growth. The growth of dietary supplement market was also a result of increase in health club memberships and gyms. Also, shift in purchasing pattern from traditional offline stores to online platforms has further widened the market scope, owing the wide range availability of dietary supplements on e-commerce websites. Since increasing demand of dietary supplements from developing economies coupled with increasing customer awareness related to healthy lifestyle is expected to offer numerous opportunities for the global market in the years to come.
Segmentation Overview of the Global Dietary Supplements Market
The Global Dietary Supplements Market is segmented on the basis of Form, End-User, Type and Distribution Channel. These segments are further categorized into various sub-segments to study the market in detail.
The Form Segment of the Global Dietary Supplements Market is Sub-Segmented into:
The End-Users Segment of the Global Dietary Supplements Market is Sub-Segmented into:
- Pregnant Women
The Type Segment of the Global Dietary Supplements Market is Sub-Segmented into:
- Amino Acids
The Distribution Channels Segment of the Global Dietary Supplements Market is Sub-Segmented into:
- Online Platform
- Offline Stores
Geographical Overview of the Dietary Supplements Market
North America (U.S., Canada, Mexico); Europe (Germany, UK, France, Italy, Rest of Europe); Asia Pacific (China, India, Japan, Rest of Asia Pacific). Asia Pacific being the highest revenue market in the year 2019 and also expected to lead the market globally during the forecast period. The regional growth was accounted due to increasing per capita income in the Asia Pacific region that in turn provide positive growth rate in the demand of dietary supplement. Whereas, as per the Organization for Economic Co-operation and Development, in the year 2017, the United States reported the position amongst the highest recorded adult obesity rate countries that also include New Zealand, Mexico and Hungary. Hence, the North American region witnessed increasing demand for supplements over the forecast period, owing to increasing obese population in the region.
Key Players Insights
Herbalife International, Bionova Lifesciences, Abott Laboratories, Glanbia Nutritionals, GlaxoSmithKline, Bayer AG, Carlyle Group, Pfizer Inc., Danisco A/S, Nutraceutics Inc., Arkopharma Laboratoires Pharmaceutiques, and Amway are some major key players included in the research study of the Global Dietary Supplements Market. New products are being launched as a result of new innovation in the market to meet the increasing requirements of customers hereby promoting the market growth.
Key Topics Covered
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