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Dietary Supplements Market: Market Segments: By Type (Vitamins, Minerals, Botanicals, Enzymes, Fatty-Acids, Protein & Others); By Form (Capsule, Powder, Tablet, Liquid, and Others);By Distribution Channel(Hypermarket & Supermarket, Pharmacies & Drug Stores, Online Channels & Others); and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
Dietary supplements are products that improve health and wellness. Dietary supplements are substances that, like osteoporosis or arthritis, are used to add nutrients to the diet or to reduce the risk of health problems. Supplements supply nutrients, either derived from food sources, individually or in combination, to increase the quality of consumption. Supplements dependent on vitamins are available in different types, depending on age, sex, or particular nutritional needs. In the form of liquids, amino acids, omega 3, and vitamin supplements are promoted as well. Healthcare producers such as GSK and Pfizer have been focusing on promoting dietary supplements to their customer base in the form of fluids.
The dietary supplements market is segmented by type as Vitamins, Minerals, Botanicals, Enzymes, Fatty-Acids, Protein, and others. The greater market share in 2018 was accounted for by the Vitamin segment and is expected to see the highest growth during the forecast due to its ability to be easily excreted by kidneys. These products, in the form of multivitamin tablets, powders, and liquids, are expected to find more applications among working professionals and sports athletes. Increased demand for herbs for mental and physical illness prevention is expected to improve the segment of botanicals over the forecast period. In addition, growing worries about the adverse effects of traditional medicines, including allopathic medications, are expected to stimulate the use of botanical extracts as dietary supplement ingredients.
Dietary Supplements Market is segmented by distribution Channel into Pharmacies & Drug Stores, Supermarkets & Hypermarkets, Online Channels, and Others. The greater market share in 2018 was accounted for by the Pharmacies & Drug Stores distribution segment and is expected to lead in terms of market share during the forecast period. As they are eaten under medical supervision, sales of foods for special medical purposes require assistance from healthcare professionals. The most appropriate retail outlets considered for the selling of foods for special medical purposes are drug stores. The market is thus guided by increasing demand for these foods in pharmacies to treat different medicinal conditions.
Dietary Supplements Market is segmented foam into Capsule, Powder, Tablet, Liquid, and Others. The greater market share in 2018 was accounted for by the tablet segment owing to the cost-effectiveness and easy packaging techniques. Tablets are highly preferred owing to their extended shelf life and easy material packing into a given space. Powder forms are expected to account for significant market share owing to the increasing demand for energy-mix powders among athletes and bodybuilders. Therefore, the powder segment is expected to capture some of the markets for functional foods over the forecast years.
The growth of the global demand for nutritional supplements is being driven by a growing awareness of the health benefits of nutritional supplements. Nutritional supplements are used to treat the lack of nutrients in the human body. Vitamins, minerals, proteins, and other essential ingredients consist of dietary supplements. In the forecast timeframe, the key application of dietary supplements in energy & weight control, bone & joint health, general health, gastrointestinal health, immunity, cardio health, diabetes, and anti-cancer invaded the market for dietary supplements. Growing demand in the pharmaceutical industry for microencapsulation to provide color characteristics and finished ingredient consistency predicts that dietary supplement manufacturers would use capsule dosage forms over the forecast period.
Some of the factors supporting the dietary supplement market are the increased prevalence of chronic diseases such as cardiovascular disease, hypertension, cancer, and diabetes mellitus, as well as the good effects of plant-extracted drugs on synthetic drugs. The use of botanical extracts as an ingredient for the manufacture of dietary supplements is expected to be promoted by increasing concerns about the adverse effects of traditional medicines, lack of medical assistance, general skepticism about allopathic medicines, and food fads. These factors are expected to drive the demand for dietary supplements over the next few years.
High nutritional supplement costs and side effects caused by nutritional supplements would restrict the growth of the global market for nutritional supplements. For healthy skin, hair, and nails, nutritional supplements include all the minerals and vitamins required. Allergic reactions can also be triggered by inactive ingredients. However, protection, effectiveness, labeling problems, and rising prices of dietary supplements are some of the factors that are expected to impede the overall growth of the global market for dietary supplements.
The dietary supplements market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
The dietary supplements market in North America held the largest market share of XX.X% in the year 2018. The growing cost of medical care has led to a change of consumers towards the adoption in their everyday routine of healthier alternatives, and the intake and demand for dietary supplements have increased dramatically. Above all, the intake of vitamin supplements in North America is extremely high. In addition, due to the rising adoption of healthy lifestyles and the expansion of the organized retail sector in the developing Asia-Pacific economies, the Asia-Pacific market holds a prominent share in the global dietary supplements market. In addition, increasing understanding of protein consumption to preserve muscle mass and preserve optimal levels of nutrition among middle-aged adults in developed countries, including the United States and Canada, is expected to increase product demand over the coming years.
Dietary Supplements market, which is highly competitive, consists of several major players such as Arkopharma hold a substantial market share in the Dietary Supplements market. Other players analyzed in this report are Pfizer, Sanofi, Herbalife, Glanbia Nutritionals, Abbott, Bayer AG, GlaxoSmithKline, and Reckitt Benckiser among others.
Key players are adopting inorganic growth strategies such as product launches in the global nutritional supplement market. For instance, in August 2019, Nestle S.A. and Danone. Melo has been re-launched in the health and wellness sector in order to improve its role in the wellness industry. The business has other products, such as low sugar versions, bars, and protinexx ready-to-drink.
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