September 16, 2022 15:07 ET | Source: Facts & Factors Facts & Factors
SAN FRANCISCO, U.S., Sept. 16, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Dietary Supplements Market By Type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics, Other Dietary Supplements), By Function (Additional Supplements, Medicinal Supplements, Sports Nutrition), By Target Consumer (Infant, Children, Adults, Pregnant Women, Elderly), By Mode of Application (Tablets, Capsules, Powders, Liquids, Soft Gels, Gel Caps), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Dietary Supplements Market size & share was valued at approximately USD 149.50 billion in 2021. The market is expected to grow above a CAGR of 8.50% and is anticipated to reach over USD 240.90 billion by 2028.”
The report analyses the Dietary Supplements market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Dietary Supplements market.
The consumption of dietary supplements has increased as consumers' awareness and attention to health and prevention has increased. A dietary supplement is a substance that is added to a person's diet to help them achieve their nutritional goals. Some dietary supplements are intended to reduce the risk of chronic illnesses, while others are intended to improve the nutritional value of daily meals. As a result, the content of dietary supplements varies depending on the intended consumer's age, but the basic function remains the same.
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Due to an increase in the number of fitness centers, health clubs, and gymnasiums, as well as a better awareness of fitness among young people, the need for nutritional supplements is expected to rise. Dietary supplements are available in a variety of forms, including tablets, powder, capsules, liquids, soft gels, and gel caps. The rising cost of goods, on the other hand, may limit the number of sales in the market.
Furthermore, as consumers become more concerned about their health and fitness, sales income and consumer base for dietary supplement product types are expected to rise during the projection period.
Key questions answered in this report:
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Dietary Supplements Market: COVID-19 Impact Analysis
The unexpected spread of Covivirus 19 has actually been good for business. The possible immune-boosting qualities of nutritional supplements and nutraceuticals caused sales to skyrocket during the epidemic. Since the beginning of the coronavirus pandemic, renowned medical personalities have promoted the use of specific nutritional supplements for the prevention and acute treatment of Covid-19 infection through television and social media. As a result, many consumers have been influenced and urged to use nutritional supplements on a regular basis. There will likely be an increase in the use of nutritional supplements in the years following the 2021 pandemic, as more people become aware of the benefits of sports and exercise as a result of the protocols put in place.
Given the global economy's difficulties in the face of pandemic circumstances, the effects on global trade and the supply chain for dietary supplement goods are difficult to forecast. However, rising demand for human dietary supplements in both established and emerging nations is expected to considerably fuel product growth over the projection period. This is because they give strong immune functions and lower the danger of health hazards. Furthermore, the effects of COVID-19 and the severe nature of the coronavirus have highlighted the importance of immunity. Additionally, the correlation between food and immunity is likely to boost the intake of nutritional supplements.
Key Insights from Primary Research
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Dietary Supplements Market: Segmentation Analysis
The global dietary supplements market is segregated based on type, function, target consumer, mode of application and region.
Vitamin as a product led the dietary supplement market in 2021, owing to the rising demand for energy and weight control among working professionals and athletes. Users ingest multivitamins via tablets, powder, and liquid due to the higher efficiency index in terms of consumption. Millennials also keep up with health-related information and try to adapt their routines and eating habits accordingly since they are digitally savvy. As a result, demand for probiotic supplements is increasing, which is expected to enhance the global probiotics market in the near future.
Dietary supplements come in a variety of forms, including tablets, powders, liquids, capsules, gel caps, and soft gel. Tablets are the most common application mode in the global nutritional supplement sector. Tablet and capsule supplements are in high demand worldwide for a variety of reasons, including their low cost, ease of packaging, and longer shelf life. Capsules, soft gels, and tablets are preferred over liquids and other modes of application because they provide well-defined dosages. Furthermore, the market for protein supplements is growing in popularity. The tablet sub-sector is likely to rise in the forecast period as consumers move toward fitness centers such as gyms or online training programs, where trainers prescribe daily protein consumption in the form of tablets or capsules for all age groups.
The Asia-Pacific dietary supplement market increased rapidly in both developed and developing countries. A growing knowledge of health supplements, as well as a growing population and increased disposable incomes, are driving the dietary supplement business in the country. Supplement demand has risen in nations like India, China, and Japan in 2021, owing to the considerable presence of the aging population in such rising countries and awareness of herbal and Ayurveda extract-based products. Similarly, the growth of the dietary supplement market is expected to exhibit a considerable increase in the use of dietary products in the next years, particularly in North America and Europe.
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The report contains qualitative and quantitative research on the global Dietary Supplements Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Dietary Supplements market include:
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The global Dietary Supplements market is segmented as follows:
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