Dietary Supplements Industry ‚ Segmented By type (Introduction, Vitamin, Mineral, Botanical, Enzyme, Fatty Acid, Protein), By End User (Introduction, Adult, Infant, Children, Pregnant Women) - Size, Growth, Trends and Forecast (2019 - 2024).

Dietary Supplements Market Size

The global dietary supplements industry was valued at USD 96 billion in 2017, and it is expected to reach USD XX billion by 2023, at a CAGR of 6.9%, during the forecast period

The dietary supplements industry is preliminarily driven by the paradigm shift toward preventive health management practices amid rising healthcare costs and increasing burden of lifestyle diseases. Digitization in retail is expected to boost the future growth of dietary supplements. Moreover, the popularity of herbal and probiotic supplements is also expected to drive the market growth in the future

Dietary Supplements Market Dynamics

The healthcare cost is substantially high in emerging economies due to higher per-capita spending on healthcare amid the burden of communicable and non-communicable diseases. Such trends have prompted consumers to opt for dietary supplements. The intense focus on preventive healthcare system, coupled with robust endorsements and marketing efforts of lifestyle enhancement products, is also driving the growth of dietary supplements market. The time-pressed work schedules have elevated the incidences of stress, hypertension and low-energy levels. Consumers have increasingly turned to alternative healthcare channels by educating themselves about the herbal supplement products and other such supplements. The robust expansion of E-commerce and proliferation of other retail channels carries a significant opportunity for the sustainable development of dietary supplements market.

A major hurdle for the growth of the market studied is its undefined scope and the regulatory inefficiencies.

Dietary Supplements Market Segmentation

Based on product type, the vitamin segment is a steadily growing whereas the fatty acid segment represents the fastest growing supplement segment due to popularity of omega-3-based supplements. Dietary supplements, such as vitamins, minerals, botanicals, enzymes, fatty acids, and proteins, help promote general health and well-being, by preventing nutritional deficiency diseases. The vitamin segment of the global dietary supplement market was valued at USD 34.39 billion in 2017, and is expected to reach USD XX billion by 2023, registering a CAGR of 6.6% during the forecast period. Mineral-based dietary supplement is a well-established segment of the overall nutraceutical market, owing to its longstanding tradition of use and years of clinical research.

In the end user segment, the infant and children sub-segments are the fastest growing end-user segments as companies have increased their supplement portfolio based on the high demand for infant formulae.

Dietary Supplements Market - Regional Analysis

Asia-Pacific holds the major share in the market, followed by North America and Europe. Health professionals across the North American region recommend dietary supplements to their patients, to combat health challenges. The European dietary supplement industry was valued at USD 18.06 billion in 2017. It is expected to reach USD XX billion by 2023, at a CAGR of X% during the forecast period. The regional growth is dominated by Western European countries, such as Italy and Germany; however, Eastern markets, like Belarus, Hungary, and Russia have shown promising potential. Demand for supplements in countries like India, China, and Japan has increased in the recent years, owing to the considerable presence of the aging population in such developing countries. Brazil is leading the dietary supplement market in South America. Countries like Brazil, Chile, and Peru are expected to experience potential market growth, while the other countries of the region, including Argentina, Venezuela, and Columbia in particular, have become more aware of health benefits of dietary supplements, which is likely to fuel the overall regional demand.

Key Developments in Dietary Supplements Industry

• In May 2018, Deerland Enzymes & Probiotics launched a new water-soluble form of its Bacillus subtilis spore-forming probiotic strain which is not only heat-tolerant but can also be more easily incorporated into hot beverages, gummies, and functional drinks.
• Activ Nutritional LLC launched Viactiv Digestive Health Soft Chews, expanding the iconic Viactiv supplement brand into the expanding digestive health category.
• In May 2018, Good Day Chocolate created a category of on-the-go chocolate supplements for adults including Sleep, Energy and Calm, Multivitamin, and Probiotic that support daily health and digestion wellness while Sleep and Calm provide sleep and anxiety relief.

Dietary Supplements Companies

The global dietary supplement market faces high competition; 36.96% share is held by the leading players including Pfizer, Sanofi, Herbalife, Glanbia Nutritionals, Abbott, Bayer AG, GlaxoSmithKline, Reckitt Benckiser, and Merck. The North American dietary supplement market is fragmented and consequently witnesses high competition; Herbalife, Amway, and Farmacias Similares SA de CV are the leading players. The Asia-Pacific dietary supplement market is fragmented, and the major shareholding players include Herbalife, Amway, Nature’s Bounty Inc., Reckitt Benckiser, Ranbaxy, Dabur, and Blackmore. Herbalife, and Bayer top the chart, accounting for around 15% of the market, among high competition.

Reasons to Purchase Dietary Supplements Market Report

• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis.
• Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the dietary supplements market in the years to come.
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects.
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the dietary supplements industry.
• Competitive landscape involving the market share of major players in dietary supplements along with the key strategies adopted for development in the past five years.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments in the dietary supplement industry, SWOT analysis and strategies employed by the major market players.
• 3 months analyst support along with the Market Estimates sheet in excel.

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