May 19, 2020
According to the research report titled ‘Global Nutrition & Supplements Market Size study, by Type (Vitamin, Minerals, Herbal supplements, Fatty acid and others), Distribution Channel (Pharmacies & Drug store, Supermarket & Hypermarket, Online Channels and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global nutrition & supplements market generated USD 113.94 billion in 2019 and is expected to record a y-o-y growth rate of 8.2% during 2020-2026.
Notably, nutrition & supplements are produced in the form of liquid, tablets, capsules or pills which when consumed orally, deliver healthy compounds such as amino acids, fiber, vitamins, minerals etc. These compounds are acquired from synthetic or animal food source. The product helps in reducing extra weight and calories.
Increasing health awareness is a major factor fostering the demand for nutrition & supplements across the globe. According to the 2017 study by World Food India, India nutraceuticals market is presumed to reach USD 4 billion by the year 2020 owing to robust demand for dietary supplements in middle class and upper class population. Similarly, as per the research conducted by Council for Responsible Nutrition (US), around 77% of Americans consume dietary supplements. The survey further stated that population in the age bracket of 35-54 have the highest consumption rate of dietary supplements totaling at 81%. Thus, rising consumption of dietary supplements is fueling the market size. However, side effects related to nutrition and supplements may act as a restraining factor to the overall market growth.
As per type, the market is fragmented into fatty acids, herbal supplements, minerals, vitamins and others. Citing the distribution channel, nutrition & supplements industry is bifurcated into online channels, supermarket & hypermarkets, pharmacies & drug stores and others.
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Considering the geographical landscape, North America nutrition & supplements industry is expected to register significant growth during the forecast period, owing to rising consumer consciousness regarding health management.
Meanwhile, Asia-Pacific market is anticipated to showcase robust growth in the forthcoming years. Rising adoption of hectic lifestyle and fluctuating dietary intervals are augmenting the regional demand.
DuPont, Sanofi S.A., Otsuka Holdings Co. Ltd., Bayer AG, Abbott Laboratories, GlaxoSmithKline PLC, Glanbia PLC, Suntory Holdings Ltd., Amway and Pfizer Inc. are the eminent companies in global nutrition & supplements market.