DUBLIN, April 27, 2022--(BUSINESS WIRE)--The "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, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global dietary supplements market size is expected to reach USD 327.4 billion by 2030 and is expected to expand at a CAGR of 8.9%
Growing awareness regarding personal health and wellness owing to changing eating habits and hectic lifestyles is expected to drive the demand for dietary supplements over the forecast period.
Increasing urbanization and growing disposable income around the world is driving the demand for products that can cover the nutritional deficit at higher convenience is the key factor driving the demand for vitamins, minerals, proteins and amino acids, and other supplement products around the world.
The increasing interest of millennials in building health through a healthy diet is expected to positively impact market growth. The obesity rate in adults in the U.S stood at 42.4% in the year 2020 which has increased from 26.0% in 2008. The Obesity rate in the European region was above 51.6% in 2014 and is continuously rising. The increasing prevalence of diseases like cardiovascular diseases, diabetes, high blood pressure is expected to bolster the demand for dietary supplements, especially in energy and weight management, gastrointestinal health, and cardiac health applications.
The rising trend of veganism around the globe is expected to benefit the plant-based nutritional products around the globe which is expected to drive the demand for botanical ingredient-based dietary supplements over the forecast period.
For instance, In Jan 2021, Flume Formulas Ltd. introduced a product line of botanical supplements which included products FLOW, DRIFT, and BASK for athletes which can be used as pre-workout and post-workout energy and recovery application.
Similarly, in July 2019, Amway Corp. introduced an improved version of calcium supplement Nutrilite Cal Mag D Plus in India. The company aimed to acquire an 11% market share in calcium supplements with the product launch.
The global outbreak of the COVID-19 pandemic has largely impacted the industrial output in the majority of the countries. However, the demand for food and beverage and pharmaceutical products remained unaffected.
Though the companies faced challenges in terms of logistics due to imposed lockdown. The increasing demand for immunity-boosting supplements including vitamins, minerals, and several herbs benefitted the market in the year 2020.
Dietary Supplements Market Report Highlights
The proteins and amino acids segment is expected to register the fastest revenue CAGR of 13.4% over the forecast period. The increasing number of sports enthusiasts, bodybuilders coupled with increasing awareness among the consumers regarding the importance of protein supplements are the key driving factors of the segment
The tablets segment accounted for the largest revenue share valued at USD 51,141.5 million in 2021. The major reason behind the high market share is their cost-effectiveness and ability to deliver a precise dosage
The energy and weight management segment accounted for 30.6% of revenue share in 2021. The increasing prevalence of obesity among adults and children around the globe owing to changing food habits is expected to drive the demand for weight management products over the forecast period.
The infant end-user segment is expected to witness a CAGR of 13.4% over the forecast period. Higher prevalence of malnutrition among infants in developing countries coupled with the growing acceptance of infant food products by the parents' concern with the health of their children are the key reasons for segment growth
North America accounted for the largest revenue share valued at USD 52,874.7 million in 2021. Higher per capita income, high urbanization rate, and higher consumer awareness regarding health and wellness are responsible for the higher consumption of the dietary supplements
Shift From Pharmaceutical To Nutraceutical Products
Increasing Consumer Awareness Regarding Nutrition Health & Wellness
Increasing Demand For Sports Nutritional Supplements
Substitution Threat From Functional Foods
Threat Of Substitution From Organic Foods
High Ingredient Development Cost And Stringent Government Regulations
Major Deals & Strategic Alliances Analysis
Impact Of Covid-19 On Dietary Supplements Industry
Production Manufacturing & Transportation Analysis
Relationship Between Nutrition & Immunity
Upside Of Covid-19 On Dietary Supplements Market
Downside Of Covid-19 On Dietary Supplements Market
Pandemic Potential: Rising Demand For Immunity Supplements
Huge Spike In The Sale Of Supplements Amid Pandemic
Nature's Sunshine Products Inc.
The Nature's Bounty Co
For more information about this report visit https://www.researchandmarkets.com/r/ajqqb9
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