Global Dietary Supplements Market
As stated in our extensive report; the Global Dietary Supplements Market accounted for USD 152.3 Billion in the year 2022.
Dietary Supplements can be considered goods that promote health and add to a diet. It cannot be categorized as a medication or a meal replacement. Vitamins, minerals, amino acids, metabolites, herbs, and other botanicals are examples of Dietary Supplements. These vitamins don’t treat any illnesses, but they do support a healthy body and immune system. Nutritional supplements minimize the chance of developing chronic diseases and supply nutrients. The growth of the worldwide dietary supplement market is the rise in healthcare concerns and living standards. Consumers are becoming more conscious of health issues due to increased urbanization, and rising disposable income may also help the market for Dietary Supplements expand. The global nutritional supplement industry may be threatened if nursing is favored over Dietary Supplements. The growing popularity of supplements and the number of athletes competing in sports that emphasize physical strength may open up new opportunities for expanding the world market for nutritional supplements. Customers are becoming more interested in bodybuilding and working out, which can help grow the market for Dietary Supplements.
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Key factors influencing Dietary Supplements Market Growth
The growth of the global Dietary Supplements market can be attributable to the following:-
- Changing eating patterns and busy lives are predicted to increase personal health and wellness awareness, increasing demand for Dietary Supplements over the projected period.
- Growing urbanization and disposable income worldwide are the main factors driving demand for vitamins, minerals, proteins, amino acids, and other dietary supplement items that can fill the nutritional gap while providing greater convenience.
- The growing veganism trend is anticipated to benefit plant-based nutritional goods globally, which is expected to fuel demand for Dietary Supplements made with botanical ingredients over the projection period.
- It is anticipated that pregnant women will consume more nutritional supplements, giving them a boost of energy to perform well all day. Also, well-known manufacturers are adding items to their product lines to provide supplements for expectant mothers, which will support the market’s expansion.
- The demand for Dietary Supplements is anticipated to increase due to the rising incidence of cardiovascular diseases, diabetes, and high blood pressure, particularly in energy and weight management, gastrointestinal health, and cardiac health applications.
Conversely, excess nutritional supplements can lead to health problems like fatigue, dizziness, headaches, nausea, skin irritation, and diarrhea. Further challenges limiting market revenue development include:
- The high costs of Dietary Supplements.
- Low exposure in stores.
- Low consumer awareness of many items.
- The availability of low-quality supplements sold by lesser-known or unrecognized brands or labels.
North America Region to Capture the Market
In terms of generating the most significant number of sales, the North American market is anticipated to dominate the worldwide dietary supplement industry. Sales are predicted to increase as people become more aware of the health benefits. In addition, the region spends a lot more per person than its competitors do. The growing market within the area will be further fueled by the rising frequency of chronic diseases among the general population, various manufacturers, and the increasing emphasis on physical appearance.
The entire Dietary Supplements market has benefited from the growing emphasis on wellness and prevention as well as the rise in the prevalence of chronic diseases.
Some of the key players in the Global Dietary Supplements Market include- Amway Corp (US), Abbot (US), Arkopharm (France), Bayer AG (Germany), Glanbia PLC (Ireland), Pfizer Inc. (US), ADM (US), The Nature’s Bounty (US), NU SKIN (US), Herbalife Nutrition of America Inc. (US), Nature’s Sunshine Products Inc. (US), Ayand (Pakistan), XanGo LLC (US), Nutracutics Corp (US) and others.