Market Research Report
Dietary Supplements Market (COVID-19 Updated), By Form, By Ingredient, By Form, By Distribution Channel, By End User, By Application, and By Geography - Trends, & Forecast Analysis From 2020 - 2026
|Published by||AnalystView Market Insights||Product code||932573|
|Published||Content info||175 Pages
Delivery time: 2-3 business days
|Dietary Supplements Market (COVID-19 Updated), By Form, By Ingredient, By Form, By Distribution Channel, By End User, By Application, and By Geography - Trends, & Forecast Analysis From 2020 - 2026|
|Published: April 1, 2020||Content info: 175 Pages||
The dietary supplements market was valued at USD 122.8 billion by 2019, growing with 8.1% CAGR during the forecast period, 2020-2026
Dietary supplements are products taken orally as a capsule, pill, or liquid that are intended to supplement the diet. The dietary supplements contain one or more nutrients such as amino acids or vitamins, which are either extracted from synthetic or food sources, in a combination or individually to increase its quantity of consumption. These supplements also contain substances that have a beneficial biological effect but are yet to be confirmed as being essential for life. Changing lifestyles of people, changing dietary habits, and rising healthcare concerns are some of the significant factors globally driving the demand for dietary supplements.
Dietary supplements provide the needed nutrients for the human body and help in leading a healthier life. Globally, the rise in disposable income and rapid urbanization are factors anticipated to propel the growth of the dietary supplements market during the period of forecast. Moreover, an increasing number of global sports events, growing prevalence of cardiovascular diseases and rising awareness of consumers regarding healthcare and preventive medicine are factors expected to boost the demand for dietary supplements in the coming years. The e-commerce channels are gaining popularity in the healthcare industry, which will be one of the key trends in the global market that is expected to gain traction by the end of projected timeframe. However, lack of awareness for supplementary dosage, false product claims, and negative publicity will prove to be major threats for the market growth.
Based on the ingredient, the global industry is categorized into minerals, vitamins, botanicals, proteins & amino acids, omega fatty acids, fibres & speciality carbohydrates, and others. Of these ingredients, the vitamin segment is estimated to account for the largest market share during the forecast period owing to its ability to easily excrete from kidneys. The vitamin products are also gaining demand from sports athletes and working professionals due to its nutritional benefits.
On the other hand, the growing demand for herbs to prevent physical and mental disorders is predicted to propel the growth of botanicals dietary supplements market by 2026. Furthermore, mounting concerns regarding the adverse effects of conventional medicines is estimated to stimulate the use of botanical extracts as elements for dietary supplements.
On the basis of form, the dietary supplements market is segmented into capsules, tablets, soft gels, gummies, powders, liquids, and others. The tablet segment is the most used form of dietary supplements as they provide easy material packaging and have extended shelf life. This segment accounted for XX% market share in 2018 and is estimated to lose its shares to the soft gel and capsules segment because of its bitter taste.
Along with tablet form, the powder segment as dietary supplement form is anticipated to contribute for XX% of total market share by the end of 2026. This growth is majorly due to the rising demand for energy-mix powders from bodybuilders and athletes. For instance, Amway produced NUTRILITE, a powder product that can be consumed with milk products and other drinks. Thus, the powder segment is to capture some part of the market to capture during the forecast period.
Distribution Channel Takeaway
Based on the distribution channel, the global industry is classified into prescribed and OTC channel. The OTC distribution channel segment valued at the largest market share dominant in 2019 and is likely to continue to dominate the market by the end of 2026. This dominance is mainly due to the mounting demand for digestive health, personal care, and skin health products. On the other hand, the rising popularity of food for medical purposes is primarily targeting consumers with issues ranging from malnutrition to infertility which is giving a significant boost to the growth of prescribed supplements market by 2026.
On the basis of end-user, the global industry is categorized into children & infants, pregnant women, geriatric, and adults. The adults segmented is anticipated to hold the largest market share during the forecast period owing to the enhancing nutrition intake and growing awareness regarding the fat reduction. On the other hand, the growing usage of dietary supplements as nutritional benefits for pregnant women is predicted to help this segment grow exponentially.
Based on application, the dietary supplements market is categorized into general health, energy & weight management, immunity, bone & joint health, cardiac health, anti-cancer, gastrointestinal health, diabetes, and others. Of these applications, the energy & weight management segment valued at the largest market share of 30% in 2019 and will likely grow at a substantial rate during the period of forecast. This growth is mainly due to the rising government initiatives for the promotion of healthy diet and rising trend for weight loss programs.
Also, the growing prevalence of chronic diseases is a noteworthy is a factor driving the growth of immunity and cardiac health segment. The introduction of scientific evidence, novel delivery forms, along with growing consumer awareness is anticipated to further boost the product sale in the coming future.
Geographically, the global market is divided into North America, Asia Pacific, Europe, LATAM, and MEA. The North America dietary supplements market is anticipated to play a major role in stimulating the use of dietary supplements. The region is valued to grow at a CAGR of XX% and during the period of forecast. In Mexico, growing awareness regarding the nutritional advantages of supplement products and new product launches is estimated to boost the dietary supplements industry in this region.
On the other hand, the growing awareness amongst people of developing countries regarding the importance of a healthy diet is projected to remain a favourable factor for Asia Pacific dietary supplements market. Moreover, expansion of the retail sector in emerging markets including China, India, Malaysia, and Indonesia, China, and Malaysia will create enormous investment opportunities for market vendors in this region.
Key Vendor Takeaway
Some of the key players that are actively responsible for the growth of the dietary supplements market include Abbott Laboratories; Arkopharma Laboratoires Pharmaceutiques; Amway; Glanbia; Carlyle Group; Pfizer; Bayer; NBTY Inc.; GlaxoSmithKline; Archer Daniels Midland; Nu Skin Enterprises; Bionova Lifesciences, Herbalife International; and Nature's Sunshine Forms. These players are adopting several strategies are such as a merger, acquisitions, and product developments to strengthen company position in the global industry.
In 2017, the Netherland-based Body & Fit was acquired by Glanbia to ensure direct presence in the rapidly growing direct-to-customer channel.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year - 2015 to 2018
Base Year - 2019
Estimated Year - 2020
Projected Year - 2026
Traders, Distributors, and Suppliers
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
Arkopharma Laboratories Pharmaceutiques
Nature's Bounty Co.
Archer Daniels Midland
Nu Skin Enterprises
Nature's Sunshine Forms
MARKET BY INGREDIENT
Proteins & Amino Acids
Omega Fatty Acids
Fibers & Specialty Carbohydrates
MARKET, BY FORM
MARKET, BY DISTRIBUTION CHANNEL
MARKET, BY END USE
Children & Infants
MARKET, BY APPLICATION
Energy & Weight Management
Bone & Joint Health
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East and Africa
United Arab Emirates
Rest of MEA