Rapid urbanization, increasing disposable income coupled with changing consumer lifestyle, buying patterns, dietary habits and increasing need and awareness about the nutrients are propelling the demand for dietary supplements across the globe. Moreover, the new product innovation by the companies and offering organic products is one of the prime factors driving the global dietary supplements market.
According to MarkNtel Advisors’ research report “Global Dietary Supplements Market Analysis, 2019”, the global dietary supplements market is anticipated to grow at a CAGR of around 7.50% during 2020-25. Counties such as the U.S, Canada, Mexico being having the wide consumer base of health-aware end users contributed to North America grabbed the major share in 2019.
Vitamins grabbed the major market share as it is the basic element for any dietary supplements and used in all the dietary supplements. Moreover, the rising number of old aged and the increasing consumption of convenience food is generating the demand for the vitamins for the good health.
However, botanical sources are growing rapidly due to awareness about the benefits of herbs and the disadvantages and allergic reactions of allopathic medicines.
Tablets dominated the global dietary supplements market due to the benefits such as longer shelf life, ease of availability, and comparatively lower prices. Also, the energy and weight management application of the dietary supplements dominated the market in 2019 on account of the rising number of fitness enthusiasts across the globe.
Over the counter (OTC) channel dominated the market in 2019 on account of the increasing awareness about the dietary supplements among end-users and the availability of the information’s on the internet is also a factor that makes the OTC channel dominating.
Mergers and Acquisition by Established Players to intensify Competition
The companies in the dietary supplements industry are focusing on merger and acquisition activities to gain a competitive edge in the industry. The key players in the industry are Amway, Abbott Laboratories, Arkopharma Laboratories Pharmaceutiques, Bayer, Glanbia, etc. A few of the instances of mergers and acquisitions are: In 2019, a company NOW acquired Super Nutrition supplement company provider of the multivitamin.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global Dietary Supplements Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecasted up to 2025.
Q. What are the units or denomination for measuring market value in the report?
A. The market size/industry size or the market value is measured in terms of USD Billion.
Q. What would be the CAGR of the Global Dietary Supplements Market during 2020 to 2025?
A. The market size of Global Dietary Supplements Market would register a CAGR of 7.50% during 2020-25.
Q. Which of the Key factors would be supporting the Global Dietary Supplements Market growth in the forthcoming period?
A. Rapid urbanization, increasing disposable income coupled with changing consumer lifestyle, buying patterns, dietary habits, new product development and increasing need and awareness about the nutrients would be key supporting elements for the growth in forthcoming period.
Q. Who are the key players or major competitors in Global Dietary Supplements Market?
A. The key players in the industry are Amway, Abbott Laboratories, Arkopharma Laboratories Pharmaceutiques, Bayer, Glanbia, etc. key competitors or players in Global Dietary Supplements Market.
Q. Which of the regions would have grabbed the highest market share of Global Dietary Supplements Market during 2020-2025?
A. North-American region grabbed the considerable market share, Counties such as the U.S, Canada, Mexico being having the wide consumer base of health-aware end users contribution.
Q. Does the report scope cover Dietary Supplements type wise market statistics also?
A. Yes, the scope of the report encompasses detailed Dietary Supplements type wise statistics such as market size, market segmentation based on various subcategories.
