Dietary Supplements: Discover Key Drivers that will Boost Growth
Growth Drivers and Market Forecast for 2021-2025
Dietary Supplements Market is set to grow by $ 27.67 billion, and the market will progress at a CAGR of over 4% till 2025. This research report identifies and analyses the growth drivers that will boost market growth. It also provides a thorough understanding of all the segments, trends and challenges that are likely to have an impact on the future prospects fo the market in focus.
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Dietary Supplements Market: Key Market Drivers
One of the key factors that will drive growth is increasing adoption of healthy eating habits. This research report provides a comprehensive analysis of this and all the other factors that will boost growth during the forecast period. In addition to market drivers, our research report also studies the latest trends and challenges that are likely to influence growth in the current market scenario. Our analysis is designed to empower clients with actionable insights that will help them leverage growth opportunities and formulate winning strategies to drive their business further.
Dietary Supplements Market: Segments and Geographical Regions
This report provides a detailed analysis of the market by Product (Vitamins, Combination, Fatty acids, Probiotics, and Others) and Geography (APAC, North America, Europe, South America, and MEA). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges on each market segment along with insights into the way forward. These insights will equip clients with information that will help them design a growth strategy for their business and area of operation. Request our Free Sample Report
Dietary Supplements Market: Vendor Analysis
The market is fragmented, and the growth of the players depends on several factors such as market conditions, government support, and industry development. Marke players must distinguish their product and service offerings through a clear and unique value proposition to prosper in this competitive market. Abbott Laboratories, Amway Corp., Archer Daniels Midland Co., Bayer AG, Glanbia Nutritionals Inc., GlaxoSmithKline Plc, Herbalife Nutrition Ltd., Pfizer Inc., Suntory Holdings Ltd., and The Carlyle Group Inc. are some of the major market participants. The report offers a detailed analysis of each of the above-listed vendors and their product portfolio.
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Dietary Supplements Market Size to Grow by $ 26.70 bn During 2020-2024
Technavio has been monitoring the dietary supplements market and it is expected to grow by $ 26.70 bn, accelerating at a CAGR of almost 4% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Dietary Supplements Market: APAC to lead market growth during the forecast period
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Dietary Supplements Market: Key Highlights of the Report for 2020-2024
The Global Dietary Supplements Market is expected to grow by USD 26.70 billion accelerate at a CAGR of over 4% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers that are likely to impact the market in focus. View our free sample report
Dietary Supplements Market: Segmentation by Product
The vitamins segment has been leading the Global Dietary Supplements Market in recent years. Dietary supplement manufacturers are also mobilizing efforts to raise awareness about their products, which is driving consumers to actively focus on their nutritional requirements. The consumption of dietary supplements can help consumers stay healthy by reinforcing the immune system and reducing the chances of contracting diseases, allergies, and other disorders. For instance, omega 3 supplements, are known to reduce the risk of cardiovascular disease.
Dietary Supplements Market: Top Drivers and Trends to Impact Growth
The growing popularity of e-commerce channels, one of the key dietary supplements market trends, will also drive market growth. The online sales of dietary supplements have witnessed high growth over the past decades owing to the efforts put in by retailers and manufacturers in educating customers, streamlining the online retail process, providing better aftersales services, and carrying out targeted marketing campaigns. These efforts will continue to encourage a greater number of consumers to purchase dietary supplements online during the forecast period.
Dietary Supplements Market: Geographic Segmentation
APAC was the largest dietary supplements market in recent years, and the region will offer several growth opportunities to market vendors during the forecast period owing to factors such as the growing medical and healthcare systems and increasing consumer awareness regarding the importance of healthy living. 51% of the market growth will originate from APAC during the forecast period, with China and Japan being the key markets for dietary supplements in the region. However, market growth in this region will be slower than the growth of the market in MEA.
Dietary Supplements Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Amway Corp., Archer Daniels Midland Co., Bayer AG, Glanbia Plc, GlaxoSmithKline Plc, Herbalife Nutrition Ltd., Pfizer Inc., Pragati Biocare Pvt. Ltd., and The Carlyle Group Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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The scale of the dietary supplement industry is experiencing tremendous growth, the market is highly fragmented with several key players occupying a good chunk of the market share. Due to high volume sales, supplement industry revenues are up drastically — and are expected to continue soaring. In the age of a personalized nutritional market, Technavio predicts that the global dietary supplements market will post a compound annual growth rate (CAGR) of 7% between 2018 to 2022. A key contributing factor affecting the growth of the global dietary supplement market size is the global rise of fitness centers and gymnasiums.
The key segment driving this growth is the fact that many companies are expanding into a more streamlined healthy foods business instead of focusing on dietary supplements alone. As the growing concern towards health and fitness awareness heightens, the demand for medicinal products is fueling the growth of the supplements market and leading to related markets such as the fitness and sports industries driving up the demand for nutritional and medicinal supplements.
The growing popularity of e-commerce channels is a key market trend leading to increased online sales for dietary supplements. With a shift in focus to online sales, we are seeing more companies allocate larger marketing budgets to market their dietary supplements products.
The popularity of dietary supplements like probiotics is also contributing greatly to the growth of the global dietary supplements market size. We’re also witnessing increased entrepreneurship in the market, where dietary supplement startups such as probiotics startups are importing large amounts of products and selling them online.
Technavio’s global dietary supplements market research report does a deep dive analysis of the various factors affecting the global dietary supplements market size and growth. According to Technavio, the top companies leading the market are Abbot, Amway, Bayer, Glanbia, and Herbalife Nutrition. From a geographical market segment standpoint, the APAC region continues to lead the way for the global dietary supplements market making up 51% of the market share, followed by the Americas, and EMEA.
Technavio's report goes into detail about the 4 main segmentations in the market, with the vitamins segment accounting for the largest share of the global dietary supplements market. The report additionally segments by combination supplements, fatty acids, probiotics, and other supplement products. A deep analysis and accurate predictions for the market are also made in the report including leading trends in the market such as the awareness of preventative healthcare. To get access to more detailed stats in the market look at Technavio's free market snapshot.
51% of the market share in the global dietary supplements market will be coming from the APAC region. Other key regions expected to see major growth are the Americas and EMEA regions. Technavio’s report will go through each geographical segment and define the various factors fueling the growth for the global pet care market size.
Globally, the dietary supplement industry's overall economic impact continues to rise — growing by $38.16 billion by 2022. Technavio finds that much of this growth has been driven by an increase in consumer demand for health and wellness products in a competitive landscape.
Key Findings from the Global Dietary Supplements Market Research Report
Technavio’s report is highlighted by an in-depth analysis and predictions on customer behavior patterns affecting the growth of the global dietary supplements market size. Technavio’s market research insights also cover the variety of factors accelerating growth in the global dietary supplements market and the growth of related markets such as the vitamins industry. Comprehensive analysis of the global as well as regional markets of the dietary supplements market; including a detailed analysis of what is leading to growing demand from the Americas, EMEA and the APAC region.
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