Powder Dietary Supplements Market to Surpass US$ 75.2 Billion by 2032 Amidst Growing Focus on Preventive Healthcare
Powder Dietary Supplements Demand to Remain High for Energy and Weight Management Application
Fact.MR offers a comprehensive overview of the global powder dietary supplements industry. The report analyzes various growth factors such as drives, restraints, opportunities, and key trends that are somehow influencing sales of powder dietary supplements. Furthermore, in order to give a balanced perspective, the report also offers a complete analysis of the leading segments, including ingredients, application, end user, and region.
NEW YORK, Oct. 5, 2022 /PRNewswire/ -- The global powder dietary supplements market is valued at US$ 35.9 Billion in 2022, and it is expected to reach a valuation of US$ 75.2 Billion by 2032, with overall sales accelerating at a robust CAGR of 7.7% throughout the forecast period (2022-2032).
Growing focus on nutrition and dietary requirements to maintain a healthy lifestyle, combined with improvement in safety aspects of dietary supplements is likely to drive growth in the market. Over the years, powder dietary supplements have gained immense traction due to their ability to enhance health and immunity, prevent deficiency diseases, and help in weight management. These supplements usually have longer shelf life as compared to other forms, which makes them highly popular among the general population.
Increasing prevalence of obesity and malnutrition along with growing popularity of preventive healthcare is expected to create significant opportunities for market players during the forecast period. Many consumers are looking to complement their diet with dietary supplements, so that their daily dietary intake is not compromised.
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Consumption of powder dietary supplements is also likely to increase owing to reduction in the average cost of these products. In recent years, a number of manufacturers have entered this market, leading to price wars. This has resulted in the reduction of prices of powdered dietary supplements.
In addition to this, increasing consumption of supplements by body builders and other professional athletes will continue to bolster market growth over the next ten years.
Use of powder dietary supplements is highest in the energy and weight management application, owing to rising focus of consumers towards improving their physical appearance. Regionally, North America and Europe will continue to remain the leading markets for powder dietary supplements owing to the rising focus on health and fitness among the general population, availability of high quality products, and rise in the number of fitness ethuastists. However, Asia Pacific market is projected to grow at the fastest pace during the forecast period.
Key Takeaways:
- Powder dietary supplements accounts for 22% share of the global dietary supplements market currently.
- By application, the energy & weight management segment will continue to dominate the global dietary powder supplements market during the forecast period.
- Based on end user, demand for powder dietary supplements will remain high in adults' category.
- North America is estimated to account for around 35% share of the global powder dietary supplements market by the end of 2032.
- The powder dietary supplements market in Asia Pacific is anticipated to grow at the highest CAGR over the next ten years.
- Demand for powder dietary supplements is poised to grow at a significant pace across the U.S. during the forecast period.
Growth Drivers:
- Growing focus on health and wellness is a key factor driving growth in the powder dietary supplements market.
- Increasing prevalence of malnourishment and positive recommendations from nutritionists are expected to create lucrative opportunities for market players.
- Introduction of new products in the market will further expand the global powder dietary supplements market size over the next ten years.
Restraints:
- Fluctuating raw material prices along with easy availability of counterfeit products is a key factor restraining growth of the powder dietary supplements market.
- Growing awareness about the potential side effects of powder dietary supplements is also negatively influencing the overall demand.
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Competitive Landscape:
Top companies in the powder dietary supplement sector are concentrating on diversifying their product offerings through new launches that are meant to increase their potential for generating revenue.
For Instance,
- In Sep 2022, Dyet Nutrition announced the launch of multivitamins and whey protein concentrates as part of the expansion of its product line.
- In June 2022, SoulFIRE Health partnered with Thorne HealthTech, a pioneer in creating cutting-edge solutions. Thorne will work with SoulFIRE Health to target healthcare professionals and health coaches who work in chronic care, pre-condition management, and self-management programmes across the U.S.
Key Companies Profiled by Fact.MR
- Bayer AG
- Herbalife International of America Inc.
- Abbott Nutrition
- Arkopharma
- Glanbia Plc.
- Ayanda
- Bionova
- ADM
- Pfizer Inc.
- Amway Corp.
- Nature's Sunshine Products Inc.
- Nu Skin Enterprises Inc.
- GlaxoSmithKline Plc.
More Valuable Insights on Powder Dietary Supplements Market
In its latest study, Fact.MR offers a detailed analysis of the global powder dietary supplements market for the forecast period of 2022 to 2032. This study also divulges key drivers and trends promoting the sales of powder dietary supplements through detailed segmentation as follows:
By Ingredient:
- Vitamins
- Botanicals
- Minerals
- Proteins & Amino Acids
- Fibers & Specialty Carbohydrates
- Omega Fatty Acids
- Others
By Application:
- Energy & Weight Management
- General Health
- Bone & Joint Health
- Gastrointestinal Health
- Immunity
- Cardiac Health
- Diabetes
- Anti-cancer Applications
- Lungs Detox/Cleanse
- Skin/Hair/Nails
- Sexual Health
- Brain/Mental Health
- Insomnia
- Menopause
- Anti-Aging
- Prenatal Health
- Others
By End User:
- Adults
- Pregnant Women
- Children
- Infants
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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Key Questions Covered in the Powder Dietary Supplements Market Report
- What is the estimated market size of powder dietary supplements in 2022?
- At what pace will worldwide powder dietary supplements sales increase till 2032?
- What factors are driving demand in the powder dietary supplements market?
- Which region is predicted to lead the worldwide powder dietary supplements market between 2022 and 2032?
- What are the elements driving powder dietary supplements market sales during the forecast period?
- What is the expected market estimation of the powder dietary supplements market during the forecast period?
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