Dietary Supplements Market Size is Anticipated to turn up CAGR of 8.72% by 2029

PUNE, MAHARASHTRA, INDIA, August 5, 2022 /EINPresswire.com/ -- According to Data Bridge Market Research’s latest report, titled “Dietary Supplements Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2029,” the global dietary supplements market will project a CAGR of 8.72% for the forecast period, Growth and expansion of the food and beverages industry, growing focus on innovations in the food and beverages sector, rising consumer consciousness towards supplements that promote good health, surging prevalence of chronic diseases and disorders such as diabetes, and high blood pressure and increasing personal disposable income by the major companies are the major factors attributable to the growth of dietary supplements market.

Major Factors Driving the Growth of the Dietary Supplements Market

Increasing consumer awareness of personal health and well-being is expected to be a key driving factor for dietary supplements over the forecast period.

The working population around the globe is struggling to fulfill the daily nutrient requirements owing to hectic work schedules and changing lifestyles thereby increasing dependence on supplements as it is convenient and easy to consume.

Extensive R&D initiatives and favorable government support will drive the growth of the market over the forecast period.

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GROWTH OF THE DIETARY SUPPLEMENTS MARKET

Self-care is an essential part of the modern consumer's lifestyle. People are making significant dietary changes to fill the nutritional gaps from everyday meals and to boost immunity. Supplementing increases the level of nutrients prevents deficiencies and improves holistic health. It helps in achieving specific wellness goals and is a viable alternative therapeutic option. The use of vitamins, organic products, and minerals has increased significantly. These factors will boost the growth of the dietary supplements market during the forecast period.

Consumers are getting busier with hectic work-life schedules. They are in constant need of health-boosting supplements that can provide all the necessary nutrients on the go. Portability, dietary preference, convenience, and ease of use are the major driving forces of the dietary supplements industry. Hence manufacturers have come up with all-encompassing multivitamins, chewable tablets, candies, and powders that mix easily in the water. The number of pills taken has also been reduced by mixing several herbal and vital ingredients into a single condensed supplement.

Significant research and development initiatives are underway for the development of newer supplements. Heavy investments are being done under separate consumer healthcare divisions of pharmaceutical players. Companies are putting all their resources because supplements have a shorter development time, and lesser product lifecycle costs in comparison to pharmaceutical products. Hence firms have launched drug-like supplements, and functional foods including cereal bars, cereals, and beverages.

Government organizations like the FDA have established good manufacturing practices and strict regulatory guidelines for ensuring the safety, purity, identity, and composition of dietary supplements. Independent quality assurance testing is being carried out by several organizations around the world. Hence strong government backing will fuel the growth of the dietary supplements market in the coming years.

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DIETARY SUPPLEMENTS MARKET ANALYSIS

Based on type, the vitamins segment is expected to dominate with a market share of 60% due to increasing demand from working professionals, and athletes for energy, and weight management. Multivitamins come in various shapes such as tablets, powder, and liquid. The convenience is high. While minerals are the second largest with a share of 10%.

Based on region, North America is likely to maintain dominance in the dietary supplements market share due to increasing awareness regarding supplements and growing consumption of products with high nutritional value and low-calorie count.

Key Companies

Pfizer Pharmaceuticals
Amway Corporation
Abbott Laboratories
Herbalife International
ADM
Nestle
DuPont
GlaxoSmithKline
Carlyle Group
Danone
Bayer HealthCare
BASF
Glanbia
Yakult
DSM
The Himalaya Drug Company.

Global Dietary Supplements Market Scope and Market Size

The dietary supplements market is segmented on the basis of type, mode of application, functions, and category. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

On the basis of type, the dietary supplements market is segmented into vitamins, minerals, amino acids, enzymes, other supplements.

On the basis of mode of application, the dietary supplements market is segmented into capsules, powder, liquids, soft gels, gel caps.

On the basis of functions, the dietary supplements market is segmented into additional supplement, medicinal supplements, and sports nutrition.

On the basis of category, the dietary supplements market is segmented into infant dietary supplements, children dietary supplements, adult dietary supplements, pregnant women dietary supplements, and old-aged dietary supplement.

Browse summary of the report and Complete Table of Contents (ToC): https://www.databridgemarketresearch.com/toc/?dbmr=global-dietary-supplements-market

Key Takeaways:

Lifestyle diseases and fitness trends influence the dietary supplements market.
Sales of dietary supplements in sports nutrition is likely to exceed a CAGR of 11%.
North America is predicted to record highest growth rates during the forecast period.
Western Europe is expected to exhibit 9% CAGR over the assessment period.
France and Germany will lead dietary supplements market in West Germany.
Japan dietary supplements market is expected to expand at 8.4% CAGR during the forecast period.
Dietary supplements market in India will record a CAGR of 11.2% during the assessment period.
Women and senior citizens account for highest consumption of dietary supplements.
By ingredients, vitamins and minerals dietary supplements are expected to lead the market.

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