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Dietary Supplements Market Growth To Be Driven By Increasing Adoption of Sedentary Lifestyles

Dietary supplements are substances that individuals may use to add nutrients to their respective diets or to lower the risk of certain health problems, such as arthritis or osteoporosis. These supplements may be in the form of pills, powders, capsules, liquids, gels tabs, or extracts.

The Global Dietary Supplements Market was valued at UЅD $142.1 Мn in 2020, and is projected to achieve a valuation of UЅD $277.8 Мn by 2030, at a САGR of 8.3%. The 5-year (2020–2025) cumulative revenue of this market is projected to be over USD $203.6 Mn, and is estimated to increase moderately over the latter part of the forecast period.

Overview:

Dietary supplements are substances that individuals may use to add nutrients to their respective diets or to lower the risk of certain health problems, such as arthritis or osteoporosis. These supplements may be in the form of pills, powders, capsules, liquids, gels tabs or extracts.

Dynamics:

The increasing adoption of sedentary lifestyles, as well as the lack of a balanced diet is resulting in a greater number of individuals being susceptible to developing various chronic disorders such as obesity, heart disease, diabetes, strokes, atherosclerosis, etc. These are some of the primary factors that are expected to continue to boost the revenue growth of the global dietary supplements market over the next 10 years.

Moreover, the drastic change in eating habits and other lifestyle-related behaviors, as well as the increasing awareness concerning the various benefits of product consumption has led more individuals to consider regular intake of dietary supplements. These are also major factors that are slated to further augment market growth for this global industry in the years to come.

Sarcopenia, or the gradual decline/loss of muscle strength, mass, and function due to ageing, as well as the increasing awareness levels concerning the ability for most individuals to slow this process down by maintaining a healthy diet and through regular exercise, is also expected to complement market growth of this global industry in the foreseeable future.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global dietary supplements market is no different, and this factor is anticipated to have a negative impact on the revenue growth of this industry. Additionally, the over-consumption of dietary supplements could result in the development of various side effects related to an individual’s digestion such as loss of appetite, diarrhea, fatigue, etc. This is a factor that may also impede on the revenue growth of the global dietary supplements market in the near future.

Nonetheless, growing collaborations between key industry players and various research institutes to develop more efficient and high-quality supplements is a factor that is anticipated to further augment market growth opportunities for the global dietary supplements market over the forecast period.

Segmentation of the Global Dietary Supplements Market:

Key Players:

  • Archer-Daniels-Midland (ADM)
  • DuPont de Nemours Inc.
  • Glanbia PLC
  • Koninklijke DSM N.V
  • Pfizer Inc.
  • Carlyle Group
  • Bayer AG
  • Amway Corporation
  • Herbalife Nutrition Ltd.
  • Nestle S.A.
  • GlaxoSmithKline plc
  • BASF SE
  • Danone S.A.
  • Yakult Honsha Co. Ltd
  • The Himalaya Drug Company

Segmentation of the global dietary supplements market is as follows:

In terms of ingredient, the vitamins segment accounted for the maximum number of revenue shares of the global dietary supplements market in 2020, and is expected to continue doing so over the forecast period. The botanicals segment is also anticipated to index a high CAGR over the next 10 years.

With regards to type, the tablets segment accounted for the highest number of revenue shares of the global dietary supplements market in 2020, and is anticipated to continue doing so over the next decade. The powder segment is also indicative of registering a high CAGR over the forecast period.

On the basis of application, the additional supplements segment accounted for the majority number of revenue shares of the global dietary supplements market in 2020, and is indicative of remaining this industry’s front-runner over the forecast period. The medicinal supplements segment is slated to register a considerable amount of revenue growth over the next 10 years.

With respect to end-user, the adults segment accounted for the majority number of revenue shares of the global dietary supplements market in 2020, and is indicative of continuing to do so in the years to come. The old-aged segment accounted for the second-most number of revenue shares of this global market in 2020.

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Regional Segmentation and Analysis:

North America accounted for the maximum number of revenue shares of the global dietary supplements market in 2020, and is indicative of remaining this industry’s front-runner over the next decade. The markets in the Asia Pacific region accounted for the second-most number of revenue shares in 2020, and are projected to index the highest CAGR over the course of the forecast period.


Updated : 2021-09-28 07:22 GMT+08:00