Preventive health care, new product launches, increasing strategic developments such as partnerships and agreements, favorable research funding scenario, and new product development pressure on nutraceutical companies are key factors contributing to high CAGR of dietary supplements during forecast period
Market Size – USD 124.8 Billion in 2018, Market Growth - CAGR of 6.4%, Market Trends – New product launches and preventive health management by consumers
NEW YORK, March 25, 2019 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the global Dietary Supplements Market was valued at USD 124.8 Billion in 2018 and is expected to reach USD 210.3 Billion by year 2026, at a CAGR of 6.4%. Dietary supplements are products intended to supplement the diet that contains one or more of the following dietary ingredients: vitamins, minerals, protein & amino acids, herbs or other botanical ingredients. Nutrition supplements can be taken in various forms such as in the form of pills, capsules, tablets, powder or in the form of liquids.
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The growth exhibited by the global dietary supplements market is a result of various factors such as the developing economies and subsequently increasing income of consumers, rising awareness about nutrition, hectic lifestyle, increasing geriatric population, and spread of chronic ailments. With an increase in the aging populations in the high-income economies such as the U.S., the U.K., Germany, and Japan, more and more people are looking for preventive healthcare management, thereby keeping diseases at bay. Good health is not just a goal for the consumers; it has become a lifestyle choice for them. Apart from this, massive impact of mass media communications & advertisement witnessed in the pharmaceutical & retail sectors is expected to generate lucrative demands for the industry. In addition, factors such as self-medication in cases of minor health issues, cost-effectiveness, and convenience of direct purchase are anticipated to drive the adoption and acceptance of dietary supplements over the forecast period. Strong growth in sports nutrition segment, increased use of supplements for weight reduction, and increasing E-Commerce sales are also driving this market.
However, stringent regulations regarding the definition of supplements and their usage, product recalls, and availability of generic alternatives are the major hindrance for the market growth during 2019-2026.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/dietary-supplements-market
Further key findings from the report suggest
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For the purpose of this report, Reports and Data has segmented the dietary supplements market on the basis of ingredient, product, application, distribution channel, and region:
Ingredient (Revenue, USD Million; 2016–2026)
Product (Revenue, USD Million; 2016–2026)
Application (Revenue, USD Million; 2016–2026)
Distribution channel (Revenue, USD Million; 2016–2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
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