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dietary supplements market analysis
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2. DIETARY SUPPLEMENTS MARKET ANALYSIS
Dietary Supplements Market, By Form (Soft gel/Pills (Confectionery Products (Gummies,
Chews, Others (Lollipops, hard-boiled candies)), Pharmaceutical Products (Chewable Pills
and Pills, Gelcaps)), Powder, Liquid), By Application (Weight Loss, Sports Nutrition,
General Wellbeing, Immune and Digestive Health, Bone and Joint Health, Heart Health,
Other Specific Requirements (Beauty Supplements, Anti-Allergies, and Eye Health)), By
Ingredients (Vitamins & Minerals, Amino Acids, Botanical Supplements, Others
(Concentrate, Metabolite, Constituent, and Extract)), By End Use (Men, Women, Senior
Citizens, Others (Kids and Toddlers)), By Distribution Channel (Pharmacies & Drugstores,
Health & Beauty Stores, Hypermarkets & Supermarkets, Online, Direct Selling), and By
Region (North America, Latin America, Europe, Asia-pacific, Middle East & Africa) - Size,
Share, Outlook, and Opportunity Analysis, 2019 – 2027
3. • Dietary Supplements Market :
• Dietary Supplements Market 2017–2027
• A dietary supplement is produced to add nutrients to the diet and lower the risk of health problems such as
osteoporosis and arthritis. It is available in the form of capsules, powders, gel tabs, pills, extracts, and liquids and
contains minerals, vitamins, fiber, herbs, amino acids, enzymes. Dietary supplement is ideal for people don't get
enough intake vitamins and minerals from the normal diet. Weight loss, sports nutrition, general wellbeing,
immune and digestive health, bone and joint health, heart health, and other specific requirements are some of the
major applications of dietary supplements. They are easily available in health & beauty stores, internet,
pharmacies/drugstores, hypermarket/supermarket, and direct selling.
• The global dietary supplements market is projected to surpass US$ 290 billion by the end of 2027, in terms of
revenue, growing at CAGR of 7.7% during the forecast period (2019 to 2027).
• Drivers
• The increasing population of baby boomers around the globe is expected to propel the market growth of dietary
supplements. According to the United Nations Department of Economic and Social Affairs, 437 million people in
China are projected to be aged above 60 years by 2050. India would have 324 million people above 60 years of age,
while 107 million and 58 million people are anticipated to be aged above 60 in the U.S. and Brazil, respectively, by
2050. Moreover, the population above 60 years of age is estimated to expand 3.5 times than the total population
from 2025 to 2030.
4. • Rising awareness regarding the benefits of dietary supplements is expected to
augment the market growth over the forecast period. According to the CRN 2017
Survey on Dietary Supplements conducted by Ipsos Public Affairs Seventy-six% of
U.S. adults—more than 170 million—take dietary supplements. The survey also
found that vitamins/minerals are the most commonly consumed supplement
category, consistent with the previous surveys. Hence, this is expected to accelerate
the market growth of dietary supplements.
• Regionally, North America dominated the global dietary supplements market in 2018,
reporting 32% market share in terms of revenue, followed by Europe and Asia-
pacific, respectively.
5. Figure 1. Global Dietary Supplements Market,
Revenue Share (%), By Countries, 2018
6. • Market Restraints
• Dietary supplements are side-effects and risks as it is self-prescribed and have lots of
wrong information is expected to hinder the market growth of dietary supplements.
For example, people seeking weight loss supplements may face problems associated
with the liver. Hence, dietary supplements do have other side-effects as well and this
factor is expected to restrict the market growth of dietary supplements.
• Lack of awareness regarding the dietary supplements across the developing region is
projected to restrict the market growth over the forecast timeframe. Moreover, the
rising demand for organic food coupled is another major factor expected to restrict the
market growth of dietary supplements over the forecast timeframe.
7. • Market Opportunities
• Growing spending on healthcare products coupled with the rising research and
development will offer enormous growth opportunity to the market of dietary
supplements. The U.S. Centers for Medicare & Medicaid, the U.S. health care
spending grew 4.6% in 2018, reaching US$ 3.6 trillion or US$ 11,172 per person. As
a share of the nation's Gross Domestic Product, health spending accounted for
17.7%. Hence, rising healthcare expenditure will favor market growth over the
forecast period.
• Retail and pharmacy chains are rapidly expanding around the globe and this has
enabled consumers with easy access to dietary supplements products at affordable
prices, this is expected to accelerate the market growth of dietary supplements. The
according to data from the National Retail Federation, retail sales hit a record of
US$ 3.68 trillion in 2018. Moreover, according to the U.S. Census Bureau. U.S. retail
sales rose 0.3% in January 2020.
8. Figure 2. Global Dietary Supplements Market – Opportunity
Analysis
9. Market Trends:
Growing preferences for vegan supplements due to the shifting preferences of people for
vegan food is projected to propel the market growth of dietary supplements. For instance, in
March 2019, GHT Companies has introduced Vegan Life Nutrition (VLN), to provide
nutritional supplements that are completely free of animal products. Therefore, the rising trend
of eating vegan food is estimated to foster the market growth of dietary supplements.
Increasing product innovation by major players in order to expand their presence is projected
to propel the market growth of dietary supplements. For instance, in November 2018, Irvine,
CA – BioCell Technology, LLC announces that its flagship clinically tested healthy aging
ingredient, BioCell Collagen, has introduced as a stand-alone ingredient featured in a new
dietary supplement from the esteemed finished product manufacturer NOW.
10. Figure 3. Global Dietary Supplements Market,
Revenue Share (%), By Application, in 2018
11. On the basis of end-use, women dominated the global dietary supplements market in 2018 with around 52% of
market share in terms of revenue, followed by men and senior citizen, respectively.
Regulations
The U.S.
The Food & Drug Administration (FDA) regulates both finished dietary supplement products and dietary ingredients.
FDA regulates dietary supplements under a different set of regulations than those covering "conventional" foods and
drug products.
Dietary supplement manufacturers must register their facilities with FDA but are not required to get FDA approval
before producing or selling dietary supplements. Manufacturers and distributors must make sure that all claims and
information on the product label and in other labeling are truthful and not misleading.
Under FDA regulations at 21 CFR part 111, all domestic and foreign companies that manufacture, package, label or
hold dietary supplement, including those involved with testing, quality control, and dietary supplement distribution in
the U.S., must comply with the Dietary Supplement Current Good Manufacturing Practices (CGMPs) for quality
control.
Also, the manufacturer, packer, or distributor whose name appears on the label of a dietary supplement marketed in
the U.S. is required to submit to FDA all serious adverse event reports associated with the use of the dietary
supplement in the U.S.
12. Figure 4. Global Dietary Supplements Market – Value Chain
Analysis
13. Competitive Section
Key players operating in the dietary supplements market are Abbott Laboratories, Amway (Nutrilite),
DuPont, NBTY Inc., Royal DSM N.V., Glanbia Plc., Bayer AG, GlaxoSmithKline PLC., Herbalife
International, and BASF SE
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Reference: https://www.coherentmarketinsights.com/market-
insight/dietary-supplements-market-3670
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