Dietary Supplements Market Size, Share, Growth, Trend Analysis and Industry Statistics Report
by Susan Hill Business ConsultantThe
global dietary supplements market size is projected to
reach USD 194.63 billion by 2025, according to a new report by Grand View
Research, Inc. It is expected to expand at a CAGR of 7.8% during the forecast
period. The market is backed by rising health awareness among consumers of all
age groups across the world coupled with a considerable rise in the number of
fitness centers and gymnasiums.
The market
is driven by the hectic work schedules among working individuals coupled with
fluctuations in diet intervals. Such factors have promoted the sale of dietary
and nutritional supplements in the form of powder, liquids, and capsules across
the globe. Rising importance of microencapsulation in the pharmaceutical
industry to ensure color characteristics and the quality of finished
ingredients is likely to force dietary supplements manufacturers to use capsule
dosage forms over the forecast period.
North
America emerged as the largest market for dietary supplements in 2018. On a
macro level, rising awareness pertaining to nutritional enrichment expected to
propel the regional demand in the forthcoming years. Moreover, rising demand of
sports as an academic curriculum activity in education systems in major markets
including U.S., Russia, China, and Japan is expected to promote the application
of dietary supplements among children.
Energy and
weight management is expected to remain dominant application segment throughout
the forecast period owing to the rising awareness regarding fat reduction and
focus on enhancing nutrition intake among adults.
Further key
findings from the report suggest:
- In terms of
revenue, proteins and amino acids segment is projected to ascend at a CAGR
of 12.6% over the forecast period
- Capsules
segment held a market share of approximately 35.3% 2018, while the soft
gels segment contributed to more than 13% of the market share during the
same year
- Over the
counter dietary supplements held the leading market share of over 73.7% in
terms of revenue in 2018
- In terms of
ingredient, vitamins emerged as the largest segment in 2018, registering a
revenue of USD 37.64 billion. The segment is expected to expand at a CAGR
of 5.6% in the forthcoming years
- In terms of
product, tablets accounted for the largest market share in 2018 and
registered a revenue of USD 40.5 billion, attributable to the increasing
popularity of tablets owing to their easy dosage patterns
- Asia Pacific is
expected to witness the fastest growth over the forecast period. Expansion
of the retail chain in countries such as India, Japan, and China has
increased regional the consumption of dietary supplements
- Key market
participants include Amway, Arkopharma Laboratoires Pharmaceutiques,
Abbott Laboratories, Archer Daniels Midland, Bayer, and Glanbia, among
others
- The dietary
supplements market represents a highly competitive landscape. Key players
dominate the space and have been focusing on various strategic initiatives
including mergers and acquisitions, product innovation, and portfolio
expansion
Access
full research report on global dietary supplements market:
www.grandviewresearch.com/industry-analysis/dietary-supplements-market
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Created on Dec 26th 2019 01:26. Viewed 353 times.