Dietary Supplements Market Overview
According to a survey published by Zion Market Research, the global market of dietary supplements market size was USD 191.1 billion in the year 2020. is expected to reach USD 307.8 Billion by 2028 This represents significant growth when compared to previous years. Between the years 2021 and 2028, it is anticipated that the market would expand at a compound annual growth rate (CAGR) of 5.9%.
The term “dietary supplements market” refers to the industry that manufactures goods that are meant to supplement the diet. These products may include vitamins, minerals, herbs, and other components that are either natural or synthetic. These products are typically available for purchase in a variety of forms, including capsules, tablets, powders, and liquids. They are marketed to provide a variety of health benefits, including enhancing overall health and wellness, bridging nutritional gaps, and providing support for particular health conditions.
The expansion of the market is being fueled by a number of different factors, some of which are rising consumer awareness about the advantages of leading a healthy lifestyle, rising expenditures associated with medical treatment, and an expanding elderly population. There are also other variables, such as the growing popularity of sports and fitness activities, the tendency towards preventative healthcare, and the availability of nutritional supplements in a variety of forms as well as flavours.
The market is extremely competitive, with a large number of different producers and brands each offering a diverse selection of goods. Amway, Abbott Laboratories, Nestle, Glanbia, Herbalife, and Pfizer are among the major participants in this market. Other major companies are Herbalife and Pfizer. These businesses put a significant amount of money into research & development in order to produce new items and enhance their existing offerings. This helps the businesses stay one step ahead of their rivals.
Alterations in consumer behaviour and preferences are another factor that has an impact on the market for dietary supplements. For instance, there has been a rise in demand for supplements that are created from substances derived from plants as a direct result of the trend towards natural and organic products. Additionally, as a result of the COVID-19 pandemic, there has been an upsurge in demand for goods that strengthen the immune system and promote general health and wellness.
In general, the market for dietary supplements is a dynamic and rapidly expanding business that continues to develop in response to the shifting requirements and tastes of consumers.
Some of the Top Market Players Are:
- Amway
- Integrated BioPharma Inc.
- NBTY Inc.
- Herbalife Ltd.
- Omega Protein Corporation
- Nu Skin Enterprises Inc.
- Bayer AG
- Naturalife Asia Co. Ltd.
- Nu Skin Enterprises Inc.
- Blackmores Ltd.
- BASF SE
- Epax AS
- Surya Herbal Ltd.
- Koninklijke DSM N.V.
- Bio-Botanica Inc.
- The Himalaya Drug Company
- Ricola AG
- Pharmavite LLC
- Blackmores Ltd.
- Axellus AS.
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Moreover, the Dietary Supplements Market report provides an evenhanded, objective estimation and analysis of prospects in the Dietary Supplements Market with a systematic market study report containing several other market-allied vital factors. Our qualified industry analysts evaluate the cost, market share, growth opportunities, technologies, market sizing, supply chains, applications, export & import, companies, and so on, with the sole effort of assisting our clients to make well-read business decisions.
Additionally, the report offers the searched information by classifying the Dietary Supplements Market on the basis of end users, form &type of product or service, technology involved, applications, and others. Also, it encompasses wide-ranging data in relation to market strategies, specific business &financial terms, the projected growth of the market, and so on. Using flowcharts, figures, and graphs within the report, the experts put forth the evaluated data in an understandable way.
Market Segmentation
By Product –
- Botanicals
- Vitamins
- Minerals
- Amino Acids
- Enzymes
By Application –
- Additional Supplements
- Medicinal Supplements And Sports Nutrition
Moreover, the report entails geographical classification
Regional Analysis of Market Report:
North America ( United States)
Europe ( Germany, France, UK)
Asia-Pacific ( China, Japan, India)
Latin America ( Brazil)
The Middle East & Africa
Furthermore, the report also entails a description of key factors that are expected to significantly spur or hinder Dietary Supplements Market growth. The figured expected CAGR of the Dietary Supplements Market anchored on previous logs relating to the Dietary Supplements Market and prevailing market trends collectively with prospect developments are also presented in the report.
Lastly, with a team of vivacious industry professionals, we offer our clients high-value market research that, in turn, would aid them to decipher new market avenues together with new strategies to take hold of the market share.
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Research Methodology –
Data on important vendor revenues is gathered through directories and databases like D&B Hoovers, Bloomberg Businessweek, and Factiva. Vendor products and services have also been factors in the market segmentation process. The worldwide Dietary Supplements Market overall size was calculated using a bottom-up approach base on the revenue generated by the market’s leading competitors.
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Key Topics Covered in the Report
- Snapshot of Global Dietary Supplements Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Dietary Supplements Market
- Historic Growth of Overall Global Dietary Supplements Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Specialty Silica Industry
- Overview, Product Offerings, Strengths, & Weaknesses of Key Competitors
- Covid-19 Impact on the Overall Global Dietary Supplements Market
- Future Market Forecast and Growth Rates of the Total Global Dietary Supplements Market and Segments
- Analysis of Global Dietary Supplements Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
FREQUENTLY ASKED QUESTIONS
- What was the value of the Global Dietary Supplements Market in 2020?
- What will be the size of the Global Dietary Supplements Market in 2028?
- What are the key factors driving the Global Dietary Supplements Market growth?
- Which region will make notable contributions to Global Dietary Supplements Market?
- Which are the major companies operating in the Global Dietary Supplements Market?
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