Rapid urbanization, increasing disposable income, changing consumer lifestyle, buying patterns, dietary habits, and growing need and awareness about the nutrients are key factors propelling the demand for dietary supplements across the globe. Moreover, extensive product innovation by the companies and offering organic products is one of the prime factors driving the Global Dietary Supplements market.
According to MarkNtel Advisors’ research report titled “Global Dietary Supplements Market Analysis, 2019”, the Global Dietary Supplements market is anticipated to grow at a CAGR of around 7.50% during 2020-25. Countries such as the U.S, Canada, and Mexico having a wide consumer base of health-aware end users contributed to the North America Dietary Supplements market, which acquired the major share in 2019.
Vitamins segment acquired the major market share in 2019 as it is the basic element for any form of dietary supplements and is widely used in all the major kinds of dietary supplements. Moreover, the rising number of aged population and the increasing consumption of convenience food is generating the demand for the vitamins for good health.
However, botanical sources are growing rapidly due to awareness about the benefits of herbs and the disadvantages and allergic reactions of allopathic medicines.
Tablets segment dominated the global dietary supplements market due to the benefits such as longer shelf life, ease of availability, and comparatively lower prices. Also, the energy and weight management application of the dietary supplements dominated the market in 2019 on an account of the rising number of fitness enthusiasts across the globe.
Over-the-counter (OTC) channel dominated the market in 2019 due to an increasing awareness about the dietary supplements among end users and the availability of the information on the internet, which are key factors in making the OTC channel dominant in the market.
Mergers and Acquisitions by Established Players to Intensify Competition
The companies in the Dietary Supplements industry are increasingly focusing on mergers and acquisitions to gain a competitive edge in the industry. The key players in the industry are Amway, Abbott Laboratories, Arkopharma Laboratories Pharmaceutiques, Bayer, Glanbia, etc
Key Questions Answered in the Market Research Report
1. What are the key market statistics (Market Overview, Market Size, Forecast, CAGR, Market Segmentation, Market Shares) of Global Dietary Supplements Market?
2. What are the key market or technology trends in Global Dietary Supplements Market?
3. What are the significant innovations, technology upgrades, opportunities, regulations, growth drivers and challenges in the Global Dietary Supplements Market?
4. Who are the key competitors or market players and how they perform in global competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Global Dietary Supplements Market study?