Global Dietary Supplements Market - Growth, Trends, and Forecast (2019 - 2024) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 9, 2019--The “Global Dietary Supplements Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The dietary supplements market was valued at USD 101.38 billion in 2018, registering a CAGR of 6.9%, during the forecast period (2019-2024). The dietary supplements market is preliminarily driven by the paradigm shift toward preventive health management practices, amid rising healthcare costs and increasing burden of lifestyle diseases. Digitization in retail is expected to boost the future growth of dietary supplements. Moreover, the popularity of herbal supplements is also expected to drive market growth in the future. Based on product type, the vitamin segment is steadily growing, whereas the fatty acid segment represents the fastest growing supplement segment due to the popularity of omega-3-based supplements. In the end user segment, the infant and children sub-segments are the fastest growing end-user segments as companies have increased their supplement portfolio based on the high demand for infant formulae. Asia-Pacific is the fastest growing region in the dietary supplements market, driven by major investment opportunities especially for herbal and Ayurveda extract-based products.
The global marketplace has witnessed a paradigm shift from curative practices to preventive management in healthcare, making it a prime growth factor for the market studied. Healthcare as an industry contributes extensively to the overall economy. Emphasis on care management, focus on paying for value, and rising general inflation are major factors influencing healthcare costs. Population in the United States, Europe, and Japan is aging, prompting consumers to seek a variety of dietary supplements for maintaining and enhancing the overall health and well being. The healthcare cost is substantially high in emerging economies due to higher per-capita out-of-pocket spending on healthcare, amid the burden of communicable and non-communicable diseases. Such trends have prompted consumers to opt for dietary supplements. The growing importance of health as a lifestyle choice has attracted many companies to enter into the vitamin, mineral, and botanical segments of the market studied. Thus, the intense focus on the preventive healthcare system, coupled with robust endorsements and marketing efforts of lifestyle enhancement products, is driving the market studied.
The Asia - Pacific dietary supplements market has witnessed rapid growth in both developed and developing countries. Demand for supplements in countries like India, China, and Japan has increased in recent years, owing to the considerable presence of the aging population in such developing countries. Supplements are most in demand, owing to their various health benefits. The dietary supplements market in the region is anticipated to offer major investment opportunities, especially for herbal and Ayurveda extract-based products. This is because of the ample availability of raw materials in India and Southeast Asian countries.
Key Topics Covered:
- Research Methodology
- Executive Summary
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Market Opportunities and Future Trends
- Pfizer Inc.
- Suntory Holdings Ltd
- Glanbia PLC
- Glaxosmithkline PLC
- Herbalife Limited
- Reckitt Benckiser Group PLC
- Bayer AG
- Blackmores Limited
- Otsuka Holdings Co. Ltd
- Gnc Holdings Inc.
- Merck Kgaa
- Natures Bounty
- Miki Corporation
For more information about this report visit https://www.researchandmarkets.com/r/f1312
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Related Topics:Vitamins and Dietary Supplements,Health Food and Sports Nutrition
INDUSTRY KEYWORD: PROFESSIONAL SERVICES CONSULTING
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 05/09/2019 04:54 AM/DISC: 05/09/2019 04:54 AM