Dietary supplements are products that help improve the physiological functions of the body and maintain health status. Also, it helps reduce the risk of diseases and promote physical & mental well-being. The supplements assist in providing nutrients, such as minerals, vitamins, fiber, and amino acids, to the body.
The “Saudi Arabia Dietary Supplements Market” is projected to grow at a CAGR of around 8% during the forecast period, i.e., 2021-26, says MarkNtel Advisors in their research report. The most prominent factors contributing to the market growth are the rising consumer awareness regarding the importance of well-being and prevention, rapid internet penetration, and the possibility of consulting online websites & portals of international players in the healthcare sector.
The market growth leads to increasing requirements for governmental intervention & strengthening regulations regarding the effectiveness of supplements, which might hamper the market growth. The research report “Saudi Arabia Dietary Supplements Market Analysis, 2021” also states that the skyrocketing costs of healthcare are inducing more attention toward health prevention through supplements to reduce long-term costs, thereby propelling the market growth.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Key Companies Profiled||Bayer Saudi Arabia, LLC, Amway Corp, Herbalife Nutrition Ltd., Abbott Saudi Arabia Trading LLC., Pfizer Saudi Limited, Glaxo Saudi Arabia Limited, Glanbia Performance Nutrition, Inc., The Archer-Daniels-Midland Company, ARKOPHARMA Laboratories, Company Limited, Bionova Lifesciences Pvt. Ltd.|
|Unit Denominations||USD Million/Billion|
Covid-19 Outbreak Positively Impacted the Saudi Arabia Dietary Supplements Market
As the coronavirus pandemic worsened, sales of dietary supplements, probiotic supplements, Fatty Acids, protein supplements, vitamins, and minerals experienced astoundingly high growth levels. The sudden lifestyle changes resulted in consumers viewing health & weight management in a new light, with the majority of people being concerned about being less active or gaining weight amid the pandemic.
The Covid-19 pandemic has further surged the need to take health responsibility and adopt solutions that improve quality of life. Besides, with the growing awareness regarding the various benefits of supplements to combat the disease, the overall market growth is expected to witness a rapid boost in the coming years.