The global dietary supplements market size is projected to reach USD 194.63 billion by 2025
NEW YORK, June 17, 2019 /PRNewswire/ -- Dietary Supplements Market Size Analysis Report by Ingredient (Botanicals, Vitamins), By Form, By Application (Immunity, Cardiac Health), By End User, By Distribution Channel, And Segment Forecasts, 2019 - 2025
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The global dietary supplements market size is projected to reach USD 194.63 billion by 2025. It is expected to expand at a CAGR of 7.8% during the forecast period. The market is backed by rising health awareness among consumers of all age groups across the world coupled with a considerable rise in the number of fitness centers and gymnasiums.
The market is driven by the hectic work schedules among working individuals coupled with fluctuations in diet intervals.Such factors have promoted the sale of dietary and nutritional supplements in the form of powder, liquids, and capsules across the globe.
Rising importance of microencapsulation in the pharmaceutical industry to ensure color characteristics and the quality of finished ingredients is likely to force dietary supplements manufacturers to use capsule dosage forms over the forecast period.
North America emerged as the largest market for dietary supplements in 2018.On a macro level, rising awareness pertaining to nutritional enrichment expected to propel the regional demand in the forthcoming years.
Moreover, rising demand of sports as an academic curriculum activity in education systems in major markets including U.S., Russia, China, and Japan is expected to promote the application of dietary supplements among children.
Energy and weight management is expected to remain dominant application segment throughout the forecast period owing to the rising awareness regarding fat reduction and focus on enhancing nutrition intake among adults.
Further key findings from the report suggest:
• In terms of revenue, proteins and amino acids segment is projected to ascend at a CAGR of 12.6% over the forecast period
• Capsules segment held a market share of approximately 35.3% 2018, while the soft gels segment contributed to more than 13% of the market share during the same year
• Over the counter dietary supplements held the leading market share of over 73.7% in terms of revenue in 2018
• In terms of ingredient, vitamins emerged as the largest segment in 2018, registering a revenue of USD 37.64 billion. The segment is expected to expand at a CAGR of 5.6% in the forthcoming years
• In terms of product, tablets accounted for the largest market share in 2018 and registered a revenue of USD 40.5 billion, attributable to the increasing popularity of tablets owing to their easy dosage patterns
• Asia Pacific is expected to witness the fastest growth over the forecast period. Expansion of the retail chain in countries such as India, Japan, and China has increased regional the consumption of dietary supplements
• Key market participants include Amway, Arkopharma Laboratoires Pharmaceutiques, Abbott Laboratories, Archer Daniels Midland, Bayer, and Glanbia, among others
• The dietary supplements market represents a highly competitive landscape. Key players dominate the space and have been focusing on various strategic initiatives including mergers and acquisitions, product innovation, and portfolio expansion
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