According to a report, “Dietary Supplements Market Size, Share & Trends Analysis Report by Ingredient (Vitamins, Minerals), By Form, By Application, By End User, By Distribution Channel, By Region, and Segment Forecasts, 2020 – 2027”, published by Grand View Research, Inc.,The global dietary supplements market is set to register a CAGR of 8.2% during the forecast period, according to the new report by Grand View Research, Inc. Dietary supplements are used to support good health and contains essential nutrients such as amino acids, minerals, vitamins, herbal and botanical extracts, and enzymes.
The market is predominantly driven by increasing focus on the development of preventive healthcare infrastructure. Concerns regarding the rise in health problems such as malnutrition, obesity, and weak immune systems have also surged in the past few years, which is additionally proliferating market adoption.
Amid the Covid-19 pandemic, industry players have entered into strategic collaborations with other brand owners and supplement manufacturers to turn organic resources into shelf-ready dietary products in a wide range of applications. For instance, DuPont Nutrition & Biosciences has rolled out a product range of great tasting gummies, consumer-friendly capsules, and plant-based supplements with “clean-label”. A recent survey suggests that four in ten Chinese took TCM and nutritional supplements since the initiation of lockdown in March 2020.
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Further findings from the report suggest:
- Vitamin ingredient type is the most widely used ingredient for the preparation of dietary supplements. The segment accounted for a total market share of 32.1% in 2019 and is available in the form of powders, multivitamin tablets, and liquids
- Energy and weight management, general health, bone and joint health, immunity, gastrointestinal health, diabetes, cardia health, and anti-cancer are the key application segment of the dietary supplements market. Energy and weight management dominated the market and held a share of 30% in 2019. This can be attributed to the increasing popularity of weight loss programs and other government initiatives
- Based on end user, the market is categorized into geriatric, adults, children, pregnant women, and infants. Adults accounted for a revenue share of 47.8% in 2019 and rising awareness about fat reduction will further promote the segment growth during the forecast period
Tablet is the most used type of dietary supplements owing to the cost-effectiveness and easy packaging techniques. Tablets are highly preferred owing to their extended shelf life and easy material packing into a given space. The segment contributed approximately 34.9% of the total market share and is expected to lose its share to the capsules and soft gel segment owing to its bitter taste and the presence of lubricants that are not suitable for consumption.
Powder forms are expected to account for 12.9% of the total market share by 2027 owing to the increasing demand for energy-mix powders among athletes and bodybuilders. Furthermore, dietary products manufacturers including Amway introduced powder products under the name, NUTRILITE, which can be consumed along with drinks as well as milk products. Therefore, the powder segment is expected to capture some of the markets for functional foods over the forecast years. Soft gels and gel caps product forms are expected to find the application on account of their convenience preposition at retail stores.
The rising popularity of organic products among millennials has increased the demand for the powder segment as it can easily be consumed with beverages and other food products. The segment is expected to ascend at a CAGR of 8.1% over the forecast years.
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- Abbott Laboratories
- Arkopharma Laboratoires Pharmaceutiques
- Archer Daniels Midland
- Carlyle Group; NBTY Inc.
- Nu Skin Enterprises
- Herbalife International
- Nature’s Sunshine Forms
- Bionova Lifesciences
Grand View Research has segmented the global dietary supplements market on the basis of ingredient, product, application, end user, distribution channel, and region:
Dietary Supplements Ingredient Outlook (Revenue, USD Million, 2016 – 2027)
- Proteins & Amino Acids
- Fibers & Specialty Carbohydrates
- Omega Fatty Acids
Dietary Supplements Form Outlook (Revenue, USD Million, 2016 – 2027)
- Soft gels
Dietary Supplements Application Outlook (Revenue, USD Million, 2016 – 2027)
- Energy & Weight Management
- General Health
- Bone & Joint Health
- Gastrointestinal Health
- Cardiac Health
Dietary Supplements End-User Outlook (Revenue, USD Million, 2016 – 2027)
- Pregnant Women
Dietary Supplements Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)
Dietary Supplements Regional Outlook (Revenue, USD Million, 2016 – 2027)
- Australia & New Zealand
Central & South America
- Middle East & Africa
- South Africa
- Saudi Arabia
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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