Dietary Supplements Market: Top Contributing Segments and Growth Factors by 2022
Vitamin and Mineral supplements are kinds of dietary supplements having micronutrients deliberated to assist a human body work efficiently and improve mental health. Herbal or botanical supplements are those dietary supplements that are utilized for medicinal reasons. Botanical dietary supplements generally sustain a specific part of the body’s health, such as the liver, bone, and skin.
According to the ZMR (Zion Market Research) Market Data, Global Dietary Supplements Market will reach $220.3 Billion in 2022 with 8.8% annual increase.
The worldwide dietary supplements market is principally fueled by the augmented consumer wakefulness for preventative healthcare together with an aging population. Further, the rising persuade of media development in the retail & pharmaceutical industries and the quick developments in dietary supplement product are few of the factors contributing positively to the growth of the dietary supplement market. On the other hand, fake product claims and negative publicity are anticipated to impede the market’s growth in the near future. Furthermore, the dearth of consciousness pertaining to the consumption dose of the dietary supplements may hamper the growth of the dietary supplements market.
Based on application, the worldwide dietary supplements market is bifurcated into a medicinal supplement, sports nutrition, and additional supplement. Among all the segments, the additional supplements segment was the biggest application segment of the market in 2016. Also, the sports nutrition segment is projected to be one of the rapidly developing segments of the dietary supplements market on account of the rising digit of fitness centers and health clubs. On the basis of ingredient type, the market is categorized into vitamins, botanicals, enzymes, amino acids, and minerals. The vitamin supplement was utilized widely and accounted for about 42% share of the worldwide market in 2016.
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Regionally, Asia-Pacific was the biggest market in 2016 for dietary supplements. Its market had over 31% share of the overall dietary supplements market volume. In addition, this trend is projected to carry on in the upcoming period. The growth of the market in the Asia-Pacific region is chiefly attributed to the alertness among consumer regarding the advantages of the dietary supplements and the broad product accessibility in the region. In 2016, Asia Pacific was trailed by North America and Europe. Europe and North America are anticipated to have modest expansion for dietary supplements in coming period. North America marked for about 28% share of the overall market in 2016 and is anticipated to observe expansion on account of the mounting product consumption with the decreased level of calorie and high nutritional content. Moreover, Africa, Latin America, and the Middle East are likely to witness modest expansion for dietary supplements market as a result of the consumer wakefulness about dietary supplements’ advantages to health.
Few of the key manufacturers of the worldwide dietary supplements market consist of Integrated BioPharma, Inc., Amway, Herbalife Ltd., NBTY, Inc., Nu Skin Enterprises, Inc., Omega Protein Corporation, Naturalife Asia Co., Ltd., Bayer AG, BASF SE, Blackmores Ltd., Surya Herbal Ltd., Epax AS, Bio-Botanica Inc., Koninklijke DSM N.V., Ricola AG, The Himalaya Drug Company, Blackmores Ltd., Axellus AS, and Pharmavite LLC among others.