Selbyville, Delaware, March 24, 2020 (GLOBE NEWSWIRE) -- Dietary supplements market size is projected to hit a valuation of US$349.4 billion by 2026. A significant shift in lifestyle trends of consumers over the past decade has resulted in increasing occurrence of obesity across almost every part of the world, which is driving the demand for dietary supplements. In addition, rising disposable per capita income levels, growing awareness regarding health, fitness, and nutrition along with favorable initiatives and investment by governments will augment dietary supplements market share.
In 2015, more than 2.2 billion people, including both children and adults, were reported to be obese. The highest percentage of obese children youth population has been witnessed in the U.S. while the highest occurrence of obesity in adults has been reported in Egypt. Obesity, mainly a consequence of a sedentary lifestyle, can lead to the risk of diabetes, hypertension, heart problems, and cardiovascular diseases.
Mounting health concerns and increased focus towards proper nutritional intake is encouraging more and more consumers towards the adoption of dietary supplements. There has also been a considerable upsurge in the number of gym and health club memberships worldwide, which will further propel the consumption of retail dietary products. A strong demand from the emerging economies will present lucrative growth opportunities to the producers and suppliers of these supplements.
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In terms of the end-user, the industry is segmented into infants, children, adults, pregnant women, and geriatric. Adult dietary supplements held the largest market share during 2019. However, children will likely emerge to be a notable consumer segment for dietary supplement products on account of growing need for proper nutrition and to reduce the risks of various illnesses. The adoption of dietary food products among children is likely to record one of the highest growth rates through 2026.
An expanding geriatric population base in the Asia Pacific as well as the rising per capita income is anticipated to drive the regional growth. The sedentary lifestyle of consumers in the region has increased their dependence on different dietary and nutritional supplements to stay fit and ensure necessary vitamin intake. There is also a significant growth in the number of gyms, sports facilities, and fitness centers across the region along with increasing awareness towards the various benefits of the products.
The competitive dynamics of global dietary supplements market comprises of many well-known companies that have unveiled a slew of innovative products over the recent years. Some of these include Abbot, GSK, Bionova Lifesciences, Bayer, Arkopharma Laboratoires, Amway, Glanbia Nutritionals, Herbalife International, and Pfizer, among notable others. Development and launch of new products as well as collaborations with firms across other industries to fuel innovations has consistently driven the market expansion.
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Key insights from the report:
- Adults captured a major portion of the industry share in 2019, however, children as consumers are expected to witness substantial growth up to 2026.
- Asia Pacific dominated global dietary supplements market in 2019 and is likely to experience notable growth throughout the analysis period.
- GlaxoSmithKline, Bionova Lifesciences, Herbalife International, Pfizer Inc., Bayer AG, Glanbia Nutritionals, Arkopharma Laboratoires Pharmaceutiques, Danisco A/S, Carlyle Group, Amway, and Abott Laboratories are among the key industry participants operating in dietary supplements market.
The analysis of global dietary supplements industry on the basis of type, form, distribution channel, end-user, and regional markets:
Dietary Supplements Market Type Analysis (Revenue, 2020 – 2026, USD Billion)
- Vitamins
- Minerals
- Amino Acids
- Botanicals
- Others
Dietary Supplements Market Form Analysis (Revenue, 2020 – 2026, USD Billion)
- Tablets
- Capsules
- Powder
- Soft Gels
- Liquids
- Others
Dietary Supplements Market Distribution Channel Analysis (Revenue, 2020 – 2026, USD Billion)
- Offline Stores
- Online Platforms
Dietary Supplements Market End-User Analysis (Revenue, 2020 – 2026, USD Billion)
- Adults
- Children
- Infants
- Pregnant women
- Geriatric
Dietary Supplements Market Regional Analysis (Revenue, 2020 – 2026, USD Billion)
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Nutritional deficiencies causing several health concerns including cardiovascular diseases, diabetes, inflammation, stroke and cancer has enhanced the nutritional lipids demand. Growing geriatric population globally has further influenced the necessity for nutritious supplements. As per Census Bureau, global population aged 65 and above surpassed 600 million in 2016.
Shifting consumer preference towards healthy lifestyles along with rising awareness regarding benefits of dietary supplements will drive the product penetration. Key health benefits including enhanced eye health, effective curing of depression & anxiety along with reduced chances of heart diseases are among key factors fueling business growth.
Potential application outlook in pharmaceuticals and dietary supplements due to technological advancement in food encapsulation will support the market penetration. Increasing lipid nutrition usage in processed food applications to enhance the nutrient content through fortification process will propel the industry growth.
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