According to a report published by Grand View Research, Inc.; the dietary supplement market is anticipated to reach a valuation of around USD 278.02 billion by 2024.
Growing prevalence of lifestyle diseases due to fluctuating dieting patterns and hectic work schedules, and high realization about calorie reduction among athletes and gym professionals can propel the market during the forecast period (2014 to 2024).
Rising rate of obesity and diabetes can boost the market over the forecast period. Additionally, increasing incidences of cardiovascular disorders due to inactive lifestyle and instable dieting patterns among the age-group of 30-40 is expected to promote the importance of nutraceuticals. As these supplements are consumed to improve the intake of vital component in the human body.
Increasing awareness about effectiveness of functional foods which provides optimal health and reduces the risk of cholesterol diseases is anticipated to decrease the application scope of these supplements. Additionally, Introduction of new nutraceutical products such as yogurt, cereal bars, fresh bread, and frozen baked goods are also expected to reduce the share of these disease.
Full Research Report On Dietary Supplements Market Analysis: www.grandviewresearch.com/industry-analysis/dietary-supplements-market
Worldwide dietary supplements market can be segmented on the basis of ingredients, product, application, end-use, and region.
Based on ingredients, the market can be classified into botanicals, vitamins, minerals, amino acids, enzymes, and others.
As per application, the market can be bifurcated into additional dietary supplements, medicinal dietary supplements, and sports nutrition.
As per product, the market can be categorized into tablets, capsules, powder, liquids, soft gels, and gel caps.
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The tablets segment was the leading segment and estimated for 45.2% of overall market share. The powdered segment is likely to expand with a CAGR of 10.8% during 2016 to 2024 due to growing demand for energy-mix powders among athlete and bodybuilders.
Based on end-use, the market can be split into infants, children, adults, pregnant women, and old-aged.
In 2015, the adults segment estimated for 55.5% of overall revenue. Increasing demand for nutritional supplements among sports athletes and working professionals is likely to drive the segment growth. The children segment is anticipated to witness rapid growth at a CAGR of 10.0% during 2016 to 2024. Increasing application scope of vitamin supplements among children to repair bone and tissue, and to improve immune responses will boost the segment growth.
In 2015, the pregnant women segment accounted a revenue of USD 12.55 billion. Growing prominence of folic acid-based nutraceuticals for fetal development is expected to drive the segment growth.
Geographically, the market can be divided into Europe, North America, Asia Pacific, Central and South America, and Middle East and Africa.
In 2016, Asia Pacific reported for 35.4% of overall market. The region is anticipated to exhibit fastest growth at a CAGR of 11.2% during 2016 to 2024. Rise in awareness about nutritional enrichment in emerging countries such as India and China is considered as a crucial factor for the regional growth. increasing consumption of fast food coupled with sedentary lifestyle has led to diabetes, obesity, and cardiovascular diseases, especially in countries such as India and China. Therefore, people among upper-middle-class and high socio-economic class in the region are likely to boost the demand for these supplements as a substitute to prescribed drugs. Additionally, nutraceuticals manufacturers are anticipated to make high investment in countries such as India, China, Thailand, Pakistan, and Bangladesh due to presence of strong base of middle-class income group.
North America is anticipated to show high growth during the forecast period due to increasing popularity of these supplements among millennials and adults. Increasing consumption of herbal medicines among individuals in the U.S. and Canada due to growing concerns over hazardous effect accompanying with traditional pharma drugs are likely to boost the market growth.
Increasing demand for functional foods in the UK, Germany, Italy, and France due to ease of combination of nutritional ingredients is anticipated to hamper the growth in European Market.
Some of the leading companies operating in the market include Nutraceutics Inc.; Himalaya Global Holdings Ltd.; Arkopharma Laboratoires Pharmaceutiques; Nature’s Sunshine Products; and Glanbia Nutritionals.
Grand View Research has segmented the dietary supplements market report on the basis of ingredient, product, application, end-use and region:
Dietary Supplements Ingredient Outlook (Revenue, USD Million; 2013 – 2024)
Botanicals
Vitamins
Minerals
Amino Acids
Enzymes
Others
Dietary Supplements Product Outlook (Revenue, USD Million; 2013 – 2024)
Tablets
Capsules
Powder
Liquids
Soft Gels
Gel Caps
Dietary Supplements Application Outlook (Revenue, USD Million; 2013 – 2024)
Additional Dietary Supplements
Medicinal Dietary Supplements
Sports Nutrition
Dietary Supplements End-Use Outlook (Revenue, USD Million; 2013 – 2024)
Infants
Children
Adults
Pregnant Women
Old-Aged
Dietary Supplements Regional Outlook (Revenue, USD Million; 2013 – 2024)
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa
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