[150+ Pages Report] The dietary supplements market size in terms of value is projected to reach $ 279.2 billion by 2030, according to a 2021 study by Precedence Research, the Canada based market insight company.
The study provides the overall revenue of the global dietary supplements market from 2017 to 2030, considering 2020 as the base year and 2030 as the forecast year.
The global dietary supplements market research report gives a brief summary of definitions, size analysis, and place of production, sales, applications, types, and major players/key vendors of the dietary supplements industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace. This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
Crucial factors accountable for market growth are:
- Increasing disposable income
- Growing awareness regarding health and well-being
- Increasing prevalence of lifestyle and diet related disorders
- Increasing number of gyms in developing regions.
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- Based on type segment, vitamin segment projected for the largest revenue 31.5% with significant portion in prediction period of time. This is accredited to ability of the vitamin to be effortlessly excreted by the kidneys. Further, its increased consumption in order to increase overall health is boosting growth of the segment in the near future.
- On the basis of application, energy and weight management application is accounted for the share 29.4% in the target industry. This is due to the increasing usage of the dietary supplements by the young and adult population for the, energy gain and weight management application. Further, increased support of the government for the healthy diet as well as increasing trend of online weight loss programs post COVID is expected to drive growth of the target segment in the near future.
- Based on end user segment, adults segment planned for the largest revenue 47.1% with significant portion in estimate period of time. Increasing focus of adult population on increasing nutrients intake are driving growth of the segment.
- Archer Daniels Midland, a leading company contributes significantly in the target industry and this is due to the various innovative product launches by the company across the world.
|Market Size||US$ 279.2 Billion by 2030|
|Growth Rate||CAGR of 8.4% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Type, Form, Application, End User|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||Bayer, NBTY Inc, Bionova Lifesciences, Nu Skin Enterprises, Carlyle Group, Pfizer, Glanbia, Herbalife International, Abbott Laboratories, GlaxoSmithKline, Nature’s Sunshine Forms, Amway, Archer Daniels Midland|
The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, North America dominated the global market with a market share of more than 30%. United States represented the highest share in the North America region primarily due to high healthcare spending along with tendency of preventive management of health among the individuals in the North America. Moreover, increasing gymnasiums in the countries including United States and Canada is expected to have positive impact on the industry growth. Asia Pacific is expected to account for the second largest market in the dietary supplement in terms of revenue in 2022. The growth in the Asian countries is attributed to growing awareness among Asian population regarding health benefits of dietary supplements which is boosting growth of the target industry in the countries of Asia Pacific including China, India, Japan, among others. Increasing sports events in the countries of Asia Pacific is another important factor which is demanding huge amount of dietary supplements and in turn boosting growth of the Asia Pacific dietary supplements market in the near future. Growth in the disposable income as well as rapid urbanization is among major factors projected to have optimistic impact on the growth of the target industry in Asian countries.
Top Players Contending in the Market:
The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in the global dietary supplements market are as follows:
- NBTY Inc
- Bionova Lifesciences
- Nu Skin Enterprises
- Carlyle Group
- Arkopharma Laboratoires Pharmaceutiques
- Herbalife International
- Abbott Laboratories
- Nature’s Sunshine Forms
- Archer Daniels Midland
- Fibers & Specialty Carbohydrates
- Omega Fatty Acids
- Proteins & Amino Acids
- Soft gels
- General Health
- Energy & Weight Management
- Gastrointestinal Health
- Bone & Joint Health
- Cardiac Health
By End User
- North America (U.S. and Canada)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
- Latin America (Brazil and Rest of Latin America)
- Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Some of the key highlights of the report are:
- Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Precedence Research presents the most precise rate of growth for the market for the assessment period starting from 2021 – 2030.
- Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
- Competitive Landscape Analysis – Some of the leading companies operating in the dietary supplements market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
Why should you invest in this report?
If you are aiming to enter the global dietary supplements market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for dietary supplements are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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