Dietary Supplements Market — Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2020 to 2026) – UnivDatos Market Insights (UMI)
The global Dietary Supplements market is projected to gain market revenue of US$ 262.57 billion by 2026, growing at a CAGR of 5.4% during the forecast period 2020-2026. The dietary supplement is described as a broad and diverse category of products that a person consumes to support good health and supplement the diet. Dietary supplements are neither medicines nor a substitute for food. However, some supplements are useful in reducing the risk of certain diseases and are authorized to make label claims about these uses. For example, folic acid supplements may make a claim about reducing the risk of birth defects of the brain and spinal cord. Dietary ingredients are broadly categorized into vitamin, mineral, herb or other botanical, amino acid and concentrate, metabolite, constituent, or extract. The Dietary Supplement market is driven by numerous factors such as escalating demand of dietary supplements among the geriatric population, rising disposable income, increasing awareness regarding the functional benefits of dietary supplements, improving health standards and increasing health expenditure paired with a rise in the number of fitness centers and gymnasiums. Proliferating demand for personalized supplement solutions, increasing the consciousness of people regarding health will further escalate market growth. However, stringent government regulations, negative publicity and false promises by the players will hamper the market growth.
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Based on product type, the global dietary supplement market is fragmented into vitamin supplement, mineral supplement, botanical supplement, fatty acid supplement, proteins & amino acids and other supplements. The botanical Supplement segment occupied the maximum share in Global Dietary Supplement. Herbal or botanical supplements improve the immune system, anti-inflammatory power and can be used for depression treatment. Vitamin supplement is expected to generate revenue of US$ 73.22 billion by 2026. These supplements are available in numerous forms such as tablets, capsules, powders, liquids and other forms such as softgels among others. Capsules are easier to swallow and are used by manufacturers when the drug cannot be compacted into a solid tablet. A shell or container made of gelatin that contains the drug. Liquids form of dietary supplement is expected to witness the highest CAGR growth of 6.0% during the forecast period 2020-2026. Further, Dietary supplements can be administered by pediatrics, adult women, adult men and baby boomers. They are also recommended for pregnant women and some of the major supplements that are deployed by them include folic acid, Calcium and iron among others. Adult Women dominated the Dietary Supplement market and is expected to maintain its dominance during the forecast. During pregnancy, some mineral and vitamin need increases and women may need to take a prenatal vitamin. Baby Boomers segments are expected to increase their spending to US$ 48.33 billion on dietary supplements by 2026.
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Dietary supplements are majorly utilized in food & beverage, pharmaceutical industry and personal care. The pharmaceutical segment dominated the global dietary supplement market in 2019. The segment is expected to generate revenue of US$ 122.0 billion by 2026. Dietary supplements are recommended by health care provider if foods that provide important nutrients are lacking, or when a vitamin or mineral deficiency has been diagnosed. Based on functionality these supplements are broadly bifurcated into the additional supplement, medicinal supplements and sports nutrition. Sports supplements are powders, pills or drinks used to build muscle, lose weight, or improve endurance. In 2019, Medicinal supplements occupied the maximum share of 47.9%. Medicinal supplements such as folic acid, iron and calcium among others are prescribed by doctors during pregnancy or are useful in reducing the risk of certain diseases. However, the Sports nutrition segment is expected to witness the highest CAGR of 6.4% during the analyzed period. These supplements are available for sales through several sales channels including Convenience Stores, supermarket/hypermarket, drug store and others (online). In 2019, drug stores dominated the market, however, Others (Online) sales channels are expected to witness the highest CAGR growth during the forecast period 2020-2026.
For a deep-dive analysis of the industry, detailed country-level study is conducted for major regions/countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Poland, Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific) and Rest of the World. Asia-Pacific is considered the largest market due to factors such as rising awareness and rising healthcare spending in countries such as China, India and the growing elderly population in Japan. Asia-Pacific is expected to generate revenue of US$ 131.39 billion by 2026. Some of the major players profiled in the global Dietary Supplement study include Amway, Abbott Laboratories, Pfizer, Arkopharma Laboratoires Pharmaceutiques, Ricola AG., Nu Skin Enterprises, Inc., Naturalife Asia Co., Ltd., Omega Protein Corporation., Archer Daniels Midland, The Nature’s Bounty Co., Himalaya Global Holdings Ltd, GlaxoSmithKline, Herbalife International, Pharmavite LLC., Integrated BioPharma, Inc., Glanbia, Bayer, Bionova Lifesciences, Nutraceutics Corporation and Ekomir. Key players are also increasing their businesses by setting up new community centers and elder care homes or increasing their expenditure on R&D.
UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global Dietary Supplements Market can be customized to the country level or any other market segment.
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