Global Dietary Supplements Market: Overview
Changing lifestyles and swift urbanization are the major drivers for the use of dietary supplements. The demand for such products is projected to increase due to growing awareness on importance of health and weight management among worldwide millennial population. This opens the doors for growth of the global dietary supplements market during the upcoming period.
Based on forms, the global dietary supplements market is classified into soft gels, tablets, capsules, gummies, liquids, powders, and others. At the same time, prescribed and OTC are the major distribution channel of this market. Based on end users, it is bifurcated into geriatric, adults, children, pregnant women, and infants.
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Global Dietary Supplements Market: Growth Dynamics
There is significant growth in health issues such as cardiovascular diseases, arthritis, and diabetes in worldwide population. Soaring instances of chronic diseases is pushing majority of people to take initiatives for preventive measures. Use of dietary supplements is one of such preventive measure that helps in maintaining healthy lifestyle, thereby avoiding disease conditions. This growing health awareness along with changing mindset towards dietary supplements is driving the demand for these products.
Huge increase in worldwide geriatric population is another driving factor making a way for the entry of new companies to fulfill the growing need of dietary supplements during upcoming period. Moreover, increase in use of these products in pregnant women to achieve nutritional enrichment is boosting the global dietary supplements market. Similarly, there is uptick in the demand of these products due to increased use in people with health issues related digestive system.
Improved overall disposable incomes in the emerging economies has pushed major population from these regions to opt for various dietary supplements to maintain their health. This scenario has paved a way for phenomenal growth of this market. Besides, these products are more popular in people involved in sports activities. With the growing number of global sports activities, players participating in these sports have focused on improving their physical strength. This has boosted the dietary supplements market.
Global Dietary Supplements Market: Notable Developments and Competitive Landscape
Major players are making strategic moves such as product launches to strengthen their position in the global dietary supplements market. A case in point here is the latest product launch by Herbalife Nutrition. The recently launched product named Beta Heart by the firm helps in reducing risk factors that lead to coronary heart diseases. At the same time, the product supports in improving the cardiovascular health of an individual.
Presence of plentiful number of companies in the dietary supplements market makes its competitive landscape intense. The list of important players in this market includes:
- Herbalife International
- Abbott Laboratories
- Arkopharma Laboratoires Pharmaceutiques
- Archer Daniels Midland
- NBTY Inc.
- Nature’s Sunshine Forms
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Global Dietary Supplements Market: Regional Assessment
The dietary supplementary market holds stupendous development avenues in the developed regions such as North America. Growing awareness about the importance of active lifestyle in this region is expected to encourage more and more people to participate in sports activities. This rising trend is projected to drive the demand for dietary supplements in the region. Moreover, the growing knowledge about the intake of protein in regular diet is expected to push the demand.
This aside, Asia Pacific is one of the prominent regions with strong growth potential for dietary supplements market. Growing awareness about healthy diets and increasing regulatory support is helping to companies engaged in this market to expand their footprints in the emerging economies. Other key regions contributing to the growth of the dietary supplementary market are Europe, Central and South America, and the Middle East and Africa.
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