Dietary supplements market is anticipated to exceed USD 349.4 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
Some of the most significant factors driving the global dietary supplements market are a major surge in the obese populace worldwide, in tandem with the ever-changing consumer lifestyles as well as numerous funding initiatives by governments worldwide. The rising number obesity-related diseases and the increasing awareness pertaining to health and well-being, alongside the rising disposable incomes will also propel the growth of this industry.
The global dietary supplements market will receive a commendable boost from the prevalence of a sedentary lifestyle and the surge in diseases such as hypertension and diabetes. The number of memberships for gyms and health clubs have also been observed to have increased in the recent years, boosting the demand for dietary supplements. The surging demand for these supplements from emerging economies is also expected to bring forth numerous growth opportunities for the participants of the worldwide dietary supplements market.
As per the report, the proportion of obesity has massively surged across the globe. Back in 2015, around 2.2 billion people had been reported to be obese. The last few years have also recorded a commendable increase in child obesity. The U.S. holds the title of being accountable for the maximum proportion of obese children and the youth, while Egypt registers the highest level of adult obesity. The obese populace is more susceptible to falling prey to myriad obesity-related diseases – like cardiovascular disorders and diabetes. The subsequent concerns pertaining to leading a healthy lifestyle and the surging awareness with regards to proper nutrition will help augment the dietary supplements market growth.
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The end-user spectrum of dietary supplements market includes infants, adults, geriatric, children, and pregnant women. The adult segment, in 2017, accounted for the highest share of the industry. However, dietary supplements market size from children is anticipated to register the highest CAGR over 2017-2026, driven by the rising demand for these products pertaining to the lowered chances of illnesses, rising need for nutrition, and reduced child obesity incidences.
Regionally, the report cites Asia Pacific dietary supplements market to have accrued the maximum revenue in 2017. The extensive population in the continent and the rising disposable incomes drive the APAC market growth. The prevalence of sedentary consumer lifestyles have led to high product penetration in the region. As per the report, APAC will dominate he overall dietary supplements market over the forecast duration, driven by rising disposable incomes in the emerging economies, surging presence of gyms and fitness centers, and the increasing awareness regarding the advantages of these products.
The surging awareness regarding health and nutrition have to a change in consumer behavior across the Asia Pacific. Also, the adoption of these supplements in the region will receive impetus owing to the increase in per capita income and rising affordability for high-quality nutrition products.
Prominent takeaways from the report:
- Among end-users, in 2017, the adult segment held the maximum share of the market.
- In 2017, vitamins led the overall dietary supplements market, with respect to revenue.
- Regionally, Asia Pacific is anticipated to be the dominant contributor to the worldwide market revenue over the projected duration.
The competitive landscape of the global dietary supplements market comprises the companies along the likes of Glanbia Nutritionals, Nutraceutics Inc., Abott Laboratories, Arkopharma Laboratoires Pharmaceutiques, GlaxoSmithKline, Carlyle Group, Danisco A/S, Bayer AG, Amway, , Bionova Lifesciences, Herbalife International, and Pfizer Inc. Prominent strategies adopted by these companies to meet the rising requirements of consumers include the launch of novel products and collaborations with other leading industry participants.