Global Dietary Supplements Market Size
The global dietary supplements market size was valued at USD191.1 Billion in 2020 and is expected to reach USD 307.8 Billion by 2028, projected to grow at a compound annual growth rate (CAGR) of 5.9% from 2021 to 2028.
Global Dietary Supplements Market Growth & Trends
The market is driven by the rising prevalence of chronic diseases, increasing awareness about the benefits of dietary supplements, and the growing focus on preventive healthcare across the globe. Additionally, the increasing awareness about health and wellness among consumers, the rising disposable income, and the growing demand for fortified food and beverages are likely to fuel the market growth.
The growing preference for vegan diets and the increasing demand for organic dietary supplements are anticipated to create lucrative opportunities for the market during the forecast period. Furthermore, the rising demand for dietary supplements among athletes and gym-goers is expected to create significant opportunities for the market. However, the rising concerns regarding the safety and quality of dietary supplements may hinder market growth.
๐๐ฎ๐ซ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ง๐๐ฅ๐ฎ๐๐๐ฌ:
- 2022 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 218 + Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on the Request
- 2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes an Updated List of tables & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Zion Market Research Methodology
This report segments the dietary supplements market as follows:
By Ingredient
- Botanicals
- Vitamins
- Minerals
- Amino Acids
- Enzymes
By Applications
- Additional Supplement
- Medicinal Supplement
- Sports Nutrition
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Dietary Supplements Market: Key Players & Competitive Landscape
The report covers a detailed competitive outlook including the market share and company profiles of the key participants operating in the global market are some of the key manufacturers included in the study are Amway, Integrated BioPharma, Inc., NBTY, Inc., Herbalife Ltd., Omega Protein Corporation, Nu Skin Enterprises, Inc., Bayer AG, Naturalife Asia Co., Ltd., Nu Skin Enterprises, Inc., Blackmores Ltd., BASF SE, Epax AS, Surya Herbal Ltd., Koninklijke DSM N.V., Bio-Botanica Inc., The Himalaya Drug Company, Ricola AG, Pharmavite LLC, Blackmores Ltd., and Axellus AS.
Global Dietary Supplements Market Challenges
1. Stringent Government Regulations: Governments around the world are increasingly regulating dietary supplements, as they may contain high levels of active ingredients and contaminants. In the United States, the FDA (Food and Drug Administration) regulates dietary supplements under the Dietary Supplement Health and Education Act (DSHEA) of 1994, which requires manufacturers to provide evidence of safety and efficacy. In Europe, the European Commission has established the European Food Safety Authority (EFSA) to regulate the safety and quality of dietary supplements.
2. Lack of Evidence: As the dietary supplement market is largely unregulated, there is a lack of evidence to support the efficacy of many dietary supplements. This lack of evidence makes it difficult for consumers to make informed decisions when choosing a dietary supplement.
3. Presence of Counterfeit Products: The dietary supplement market is plagued by counterfeit products, which may contain dangerous ingredients or contaminants. Counterfeit products can be difficult to identify and may even be sold through reputable retailers, making it difficult for consumers to determine the quality of a product.
Global Dietary Supplements Market Regional Analysis
The global dietary supplements market is segmented into five major regions, namely North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is the largest market for dietary supplements, followed by Europe. This region is driven by increasing awareness about health benefits of dietary supplements and increasing demand from the aging population. The presence of major players in the region, such as Amway, The Natureโs Bounty Co., and Bayer AG, is also contributing to the growth of the market.
Asia Pacific is the second largest region in the dietary supplements market. This region is experiencing a rapid growth due to increasing disposable income, improving healthcare infrastructure, rising health consciousness, and increasing demand for dietary supplements.
Latin America is expected to witness a significant growth in the dietary supplements market in the coming years. This region is witnessing a significant growth in the health and wellness industry, which is driving the demand for dietary supplements.
The Middle East & Africa is expected to witness a moderate growth in the dietary supplements market due to increasing awareness about health benefits of dietary supplements and increasing demand from the aging population.
Read Also – https://www.linkedin.com/pulse/global-dietary-supplements-market-size-expected-gain-usd-maria-howard/
Global Dietary Supplements Market Conclusion
The global dietary supplements market is expected to witness significant growth in the near future. This is due to increasing prevalence of lifestyle diseases, growing health consciousness among consumers, and rising demand for preventive healthcare. Moreover, the increasing number of product launches and the growing popularity of natural and organic supplements are expected to drive the market growth. Furthermore, changing consumer preferences and the increasing demand for functional food and beverages are expected to contribute to the growth of the market. In addition, the increasing presence of online retail channels, growing awareness of the health benefits of dietary supplements, and the increasing disposable income of consumers are expected to further boost the market growth.
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