Global Dietary Supplements Market growing at CAGR 9.1% between 2019 and 2027


Posted May 19, 2019 by Rosiesalmon

The Global Dietary Supplements Market is projected to reach at 335.06 Billion USD in 2027, growing at CAGR 9.1% between 2019 and 2027

 
Dietary supplements are the oral additives helps to fortify the internal environment of human body. The primary use of dietary supplement is to help to reinforce the cellular protection, wear and tear, regeneration and support the revitalization process of human body. The dietary supplements are available in different form such as capsules, tablets, soft gels, powder, etc. The dietary supplements are treated as conventional supplements and not as a drug which aids to prevent disease and maintain wellness and health. For example, to treat symptoms of menopause, women make use of phytoestrogenic herbs (red clover), saw palmetto and black cohosh.

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The global dietary supplements market is segregated into major product, form, application, and regional segments. The major products included enzymes, amino acid, minerals, vitamins, and others. Major form of dietary supplements includes powder, capsules, tablets, and others. The key applications included in the study are sport nutrition, medicinal supplements and additional supplements.

The major products of global dietary supplements market are segmented into botanicals, enzymes, amino acids, minerals, vitamins, and others. Vitamins contributed as a largest segment of the market in 2018. Multi-vitamin supplements are widely used and are also available by composition of specific nutritional requirements. Vitamins are largely used by athletes and sports persons. Botanicals are predicted to grow at a highest CAGR during the forecast period. Botanicals are used to treat anxiety, nausea, constipation, insomnia, depression, heart disease, cancer, etc. Minerals and amino acids are important outlets which are predicted to experience lucrative growth over the next few years.

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The global dietary supplements market is mainly driven by growing concerns towards health and fitness. Growing demand for nutritional medicinal products across the globe is also likely to fuel the growth of dietary supplements market. Additionally, growing demand for supplements from sports industry is likely to have positive influence on the market’s profit margin level during the estimated period. However, stringent rules and regulations may impede the growth of the market. Nonetheless, emerging markets in the developing countries such as China, India, and Brazil is likely to set new wings to the market’s growth over the years to come. Moreover, product innovation and brands promotion by major players such as Amway, Abbott Laboratories, Pfizer, etc. are predicted to witness significant growth of dietary supplements market in the near future.

In terms of geographies, Asia Pacific region dominated the global dietary supplements market in 2018. China is largest contributor of the dietary supplements market in the region. After China, India is the second largest contributor in the region. Amway, Dabur, Himalaya, Ranbaxy, Herbalife and Heinz are some popular brands of dietary supplements in the Indian market which contributed for around 44% share of the Indian dietary supplement market in 2018. Moreover, to cater local dietary habits major players are focusing on R&D facilities. For instance, in March 2017, Herballife had launched its R&D lab in India in partnership with Syngene & growing drastically by using direct marketing strategy . Thus, Asia Pacific region is predicted to be the fastest growing market for dietary supplements in the near future.

The key vendors of the global dietary supplements market are The Himalaya Drug Company, BASF SE, Koninklijke DSM N.V., Bayer AG, Herbalife Ltd, Pharmavite LLC, Omega Protein, NBTY Inc, Abbott Nutrition, Amway, Bio-Botanica Inc., Axellus AS., Blackmores Ltd., Nu Skin Enterprises, Inc., and among others.

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Issued By Rosie Salmon
Country United States
Categories Business , Health
Tags dietary supplements market
Last Updated May 19, 2019