The dietary supplements market encompasses a wide range of products that are intended to supplement the diet and provide essential nutrients that may be lacking or insufficient in a person's regular food intake. These supplements can include vitamins, minerals, amino acids, herbs, enzymes, and other substances, often available in various forms such as capsules, tablets, liquids, and powders. The primary goal of dietary supplements is to support overall health and well-being, address specific nutritional deficiencies, and promote preventive healthcare. Factors influencing the market include consumer awareness, lifestyle trends, regulatory frameworks, and ongoing research and development efforts to create innovative and effective supplement formulations.
According to Data Bridge Market Research analyses the Global Dietary Supplements Market will project a CAGR of 8.72% for the forecast period of 2022-2029.
"Economic Empowerment Boosts the Market Growth"
The surge in the dietary supplements market is significantly propelled by the advantageous impact of increasing personal disposable income. As individuals experience a rise in disposable income, there is an enhanced tendency to allocate resources toward health and wellness products, particularly dietary supplements. The financial flexibility afforded by higher disposable income enables consumers to prioritize preventive healthcare, leading to an increased demand for nutritional supplements. This economic empowerment facilitates broader accessibility to a variety of dietary supplements, serving as a pivotal driver for market growth.
What restraints the growth of global dietary supplements market?
"Breastfeeding Promotion Hampers the Market Growth"
The persistent promotion of breastfeeding as the maximum nutritional choice presents a significant obstacle to the growth of the dietary supplements market. The increasing awareness of the benefits of natural breastfeeding creates a cultural and societal preference for traditional means of obtaining essential nutrients for infants. As breast milk is widely acknowledged as the ideal source of nutrition, the dietary supplements market faces a restraint in convincing consumers of the value of supplementation.
Segmentation: Global Dietary Supplements Market
The global dietary supplements market is segmented on the basis of type, mode of application, functions, and category.
- On the basis of type, the global dietary supplements market is segmented into vitamins, minerals, amino acids, enzymes, and other supplements
- On the basis of mode of application, the global dietary supplements market is segmented into capsules, powder, liquids, soft gels, and gel caps
- On the basis of functions, the global dietary supplements market is segmented into additional supplement, medicinal supplements, and sports nutrition
- On the basis of category, the global dietary supplements market is segmented into infant dietary supplements, children dietary supplements, adult dietary supplements, pregnant women dietary supplements, and old-aged dietary supplement
Regional Insights: North America dominates the Global Dietary Supplements Market
North America dominates the market due to many factors such as high disease prevalence, especially chronic conditions, increased awareness in Mexico, rising disposable incomes, and robust research and development by major companies. Stringent regulations ensure product quality, while changing lifestyles and a preference for convenience drive demand.
Asia-Pacific is expected to grow during the forecast period of 2022 to 2029 due to the presence of leading market players, increasing Westernization, changing lifestyles, rising personal disposable income, growing health awareness, and an expanding middle-class population. These factors collectively contribute to a high projected Compound Annual Growth Rate (CAGR) for the region in the coming years.
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The Prominent Key Players Operating in the Global Dietary Supplements Market Include:
- Abbott (U.S.)
- GlaxoSmithKline plc (U.K.)
- Bayer AG (Germany)
- Pfizer Inc. (U.S.)
- ADM (Archer Daniels Midland Company) (U.S.)
- Stepan Company (U.S.)
- International Flavors & Fragrances Inc. (U.S.)
- THE BOUNTIFUL COMPANY. (U.S.)
- DSM (Netherlands)
- Amway (U.S.)
- Herbalife International of America, Inc. (U.S.)
- Omega Protein Corporation (U.S.)
- Integrated BioPharma, Inc. (U.S.)
- Nu Skin Enterprises Inc. (U.S.)
- BASF SE (Germany)
- Surya Herbal Ltd. (India)
- Bio Botanica, Inc. (U.S.)
- The Himalaya Drug Company (India)
- Ricola (Switzerland)
- Pharmavite LLC (U.S.)
- Blackmores (Australia)
- Epax (Norway)
- Axellus AS (Norway)
Above are the key players covered in the report, to know about more and exhaustive list of global dietary supplements market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Dietary Supplements Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
