Market Research Report
North America Dietary Supplements Market Size, Share & Trends Analysis Report By Ingredient, By Form, By Application, By End-user, By Distribution Channel, By Region, And Segment Forecasts, 2021 - 2028
|North America Dietary Supplements Market Size, Share & Trends Analysis Report By Ingredient, By Form, By Application, By End-user, By Distribution Channel, By Region, And Segment Forecasts, 2021 - 2028|
Published: August 20, 2021
Grand View Research, Inc.
Content info: 140 Pages
Delivery time: 2-10 business days
The North America dietary supplements market size is expected to reach USD 77.1 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.6% over the forecast period. This demand is attributed to the growing demand for preventive health products and increasing healthcare costs in the region. Furthermore, growing awareness on the nutrition, health & wellness aiming to boost immune system and general health is expected to increase the demand for dietary supplements in coming years.
The demand for dietary supplements skyrocketed post COVID-19 pandemic outbreak due to the increasing awareness about the significance of immunity in these times. Furthermore, the online sales of dietary supplements also experienced a hike of more than 55% in the year 2020. This is due to the movement restrictions imposed by the government in the region.
Acquisition of medium and small-size companies is one of the key strategies being adopted by the players to expand product portfolio and increase manufacturing capacity. For instance, in April 2021, Unilever acquired the U.S. supplements brand and lifestyle company, Onnit, as it continues to expand its consumer health offerings. Companies have also been adopting several new technologies such as microencapsulation, which is targeted over-controlled release and protection of active ingredients in the dietary supplements.