Growing at a CAGR of 9.0%, Global Dietary Supplements Market Size & Share Will Reach USD 306.8 Billion by 2026: Facts and Factors
According to Facts and Factors, the global dietary supplements market in 2019 was approximately USD 167.8 Billion. The market is expected to grow above a CAGR of 9.0% and is anticipated to reach over USD 306.8 Billion by 2026.
The rates of obesity and increasing prevalence of cardiovascular disorders across the globe are expected to impact demand for dietary supplements globally. Dietary supplements help improve the immune system and achieve good health and well-. Dietary supplements can also replace the prescription medications, as well as help reduce the severe wear and tear particularly for the elderly. Thus the lucrative growth is projected to occur during the forecast period.
The global demand for dietary supplements is powered mainly by rising health and fitness concerns. Rising demand worldwide for healthy medicinal products is also likely to drive growth in the dietary supplements industry. In addition, increasing demand for sport industry supplements is likely to have a positive impact over the projected time span on the profit margin level of the market. Stringent rules and regulations, however, can hinder business development. Nevertheless, it is predicted that emerging markets, combined with rising per capita spending on healthcare in developed countries, will create avenues in the coming years.
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Various types of dietary supplements’ form include powder, capsules, tablets, and others. In 2019, tablets segment led the global market for dietary supplements among those types. It accounted for over 40 percent of all-in 2019. In addition, the tablets segment is expected to experience the fastest growth over the coming years. This rise is primarily due to rising market demand for tablets, along with easy availability of convenient dosage patterns. The category Capsules is the second largest market type in 2019 and is also expected to show potential growth over the forecast period.
The global market for dietary supplements is divided into sport foods, medicinal supplements, and additional supplements, depending on use. In 2019, the largest portion of the global dietary supplement market was an additional supplement. This rise is due to the tremendous demand for additional drugs to treat and prevent various diseases. In 2019, new drugs accounted for over 40 percent market share. In addition, it is also expected in the near future to show tremendous growth in the margin of the market. Due to the rising sport industry worldwide, sport nutrition is expected to be the fastest growing segment of the market in the next few years.
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In 2019 Asia Pacific led the global market of dietary supplements. In 2019, it represented more than 35 percent of total consumption. Together, China and India contributed as the region’s main consumers and dietary supplement manufacturers. Ongoing innovation and innovations combined with new product releases are expected to have a positive impact on the business margin in the years ahead. Particularly in India, the growing e-commerce revolution is expected to affect entirely the country’s online trading. This, in effect, would likely aid in the near future in rising demand for dietary supplements. North America and Europe followed in 2019 asia pacific. North America and Europe are expected to develop profitably in the coming years.
Top key players operating in the market are Bio-Botanica Inc., The Himalaya Drug Company, Nu Skin Enterprises, Inc., Abbott Nutrition, Koninklijke DSM N.V., Pharmavite LLC, Axellus AS., Omega Protein, NBTY Inc, Bayer AG, Amway, BASF SE, Blackmores Ltd., Herbalife Ltd, and Others.
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This report segments the dietary supplements market as follows:
Global Dietary Supplements Market: By Type Segmentation Analysis
- Amino Acid
Global Dietary Supplements Market: By Form Segmentation Analysis
Global Dietary Supplements Market: By Application Segmentation Analysis
- Sport Nutrition
- Additional Supplements
- Medicinal Supplements
Global Dietary Supplements Market: Regional Segmentation Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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- CDN Newswire