Dietary Supplements Market Analysis with Impact of COVID-19 on Growth Opportunity by 2027| Abbott Laboratories, GlaxoSmithKline, Archer Daniel Midland, Dupont, Amway, Bayer

Market Size – USD 140.1 Billion in 2018, Market Growth - CAGR of 5.5%, Market Trends – New product launches and preventive health management by consumers

According to the current analysis of Reports and Data, the global dietary supplements market was valued at USD 140.1 Billion in 2018 and is expected to reach USD 216.3 Billion by year 2026, at a CAGR of 5.5%. 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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Key participants in the Dietary Supplement market include Abbott Laboratories, GlaxoSmithKline, Archer Daniel Midland, Dupont, Amway, Bayer, Glanbia Nutritionals, Herbalife International, Pfizer, DuPont and Reckitt Benckiser Group

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
• Botanicals
• Vitamins
• Minerals
• Protein & Amino acids
• Enzymes
• Others

Product
• Tablets
• Capsules
• Powder
• Liquid
• Soft gels
• Gel caps

Application
• Additional Supplements
• Medicinal Supplements
• Sports Supplements

Distribution channel
• Hospital Pharmacies & Drug Stores
• Clinic Supermarkets & Hypermarkets
• Online
• Others

Regional Outlook
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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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. The wide adoption of e- commerce and m-commerce platforms are expected to be crucial factors that will spur a shift in positive direction for this industry. Due to the nature of dietary supplements, the industry has already seen greater adoption of e-commerce purchases than other consumer goods industries, with global sales of vitamins and dietary supplements via internet retailing reaching 14% in 2016 compared to 9% for consumer health as a whole and just 2% for packaged food. With an increase in the aging populations in high-income economies such as the U.S., the U.K., Germany, and Japan, more and more people are looking for preventive healthcare management, to keep diseases at bay. Good health is not just a goal for the consumers; it has become a lifestyle choice for many 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 Dietary Supplements. 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 discounts on e-commerce sites are also driving this market.

Further key findings from the report suggest

• Asia-Pacific is expected to be the largest market for dietary supplements in 2026, accounting for a significant share of the global market, followed by North America and Europe. The market in Europe and North America will continue to be very profitable due to the lack of price pressure which is common in the Asia-Pacific region

• North America trails only the Asia Pacific region in terms of vitamin supplements. For example, by 2026, the market for these types of supplements in the region is expected to be around 20.44 billion. Greater awareness regarding product usage and the proliferation of mobile apps advising patients with proper pharmaceuticals will be a significant cause for growth

• In the North American region, tablets are the most popular method for supplement ingestion, commanding around USD 13.30 billion in revenue in 2018. This is due to the fact that convenience is greater, and in some cases, costs are lower as compared to other types of formulations

• The regulations guiding the North American region are varied, multifaceted and have a great impact on the industry. For example, in the U.S., ‘nutraceuticals’ mainly come under the category of vitamins and dietary supplements. A range of regulations apply, notably the Dietary Supplement Health and Education Act (DSHEA) from 1994, which covers dietary supplements, the Federal Food Drug and Cosmetic Act, which covers all foods and food additives, and Good Manufacturing Practice regulations from 2007

• A new trend in the Dietary Supplement industry involves technological advances such as micro and nano-encapsulations that solve problems of stability, solubility or improve the bioavailability of many bioactive compounds.

• By distribution channel, the online sector is projected to grow at the fastest rate during the forecast period in the Dietary Supplements industry

• Due to increasing costs of healthcare, people are turning towards dietary supplements to help them stay healthy

• These Dietary Supplements provide various health benefits such as strengthening the immune system, protection from cold and flu, prevention of migraine headaches, treat of arthritis, rheumatic diseases, allergies, lower cholesterol, triglyceride levels and blood pressure, cardiovascular diseases, and cognitive diseases at lower costs

• Dietary supplement sales for children are expected to rise during the forecast period. It was observed that Chinese and Indian parents were willing to spend relatively large amounts of money on the health of their children in relation to family income

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Major selling points of this research report

Gives the reader a holistic comprehension of the global market
Identifies the recent trends and estimated growth rate for the forecast duration
Helps industry experts, investors, and other participants implement lucrative expansion approaches
Provides accurate market insights to take informed decisions through presentations and other tools
Outlines the competitive landscapes with the individual market share of top vendors

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