The global dietary supplements market is likely to witness significant growth in the coming years. Increasing practice of preventive health management due to high healthcare costs and occurrence of lifestyle diseases can propel market growth. In addition, changing consumption patterns, hectic work schedules, and increasing awareness among athletes and gym professionals regarding reducing calories are expected to support market growth in coming years. Hectic work schedules have led to stress, low-energy levels, and hypertension among individuals.
Rising consumer awareness regarding availability of preventive medicine is one of the key driving factors in the market. In addition, consumers are becoming more conscious towards their nutritional requirements due to high internet penetration and increasing efforts by the players to promote these products. Dietary supplements help in improving the immune system and reducing the chances of communicable and non-communicable diseases, allergies, and many other ailments. These products contain vitamins, enzymes, amino acids, fatty acid, minerals, and botanicals, which help consumers to prevent nutritional deficiency diseases and stay healthy.
Rising cases of obesity, diabetes, and cardiovascular disorders due to inactive lifestyle and instable dieting patterns are expected to increase the demand for nutraceuticals. These types of supplements are effective in improving the intake of vital component required for a human body. Moreover, launch of new nutraceutical products, such as fresh bread, yogurt, frozen backed goods, and cereal bars, is anticipated to reduce the occurrence of these lifestyle diseases. Moreover, rising popularity of herbal and probiotic supplements is expected to boost market growth. Rising awareness among consumers regarding herbal products through various distribution channels can positively influence market growth. Rapid growth of the e-commerce sector and emergence of other retail channels also plays a crucial role in market growth.
Dietary supplements are available in different forms, such as powder, tablets, capsule, drinks, and energy bars. Individuals from different age groups, such as infants, children, pregnant women, adults, and old-aged, consume these products to fulfil their dietary requirements. Adults are the prominent end users of the product owing to rising demand for nutritional products among athletes, sportspersons, and working professionals. Demand for vitamin supplements is likely to increase among children for healthy skin, bone repair, and boosting the immune system. For instance, Good Day Chocolate, a provider of chocolate supplements for adults on-the-go, including Sleep, Energy and Calm, introduced a new product line for kids. Products, such as Probiotic and Multivitamin, assist in daily health and digestion wellness. Whereas, Sleep and Calm offer sleep and anxiety relief, which is recommended for children aged 3 and above. Multivitamin includes essential vitamins, such as A, B6, B12, C, D, E Folate and Biotin, formulated with Fair-Trade milk chocolate.
North America is anticipated to show high growth during the forecast period due to rising popularity of these supplements among millennials and adults. Increasing consumption of herbal medicines among individuals in the U.S. and Canada due to rising concerns over hazardous effects of traditional pharma drugs is likely to boost market growth. South America is also likely to emerge highly lucrative. Countries, such as Brazil, Chile, and Peru, are anticipated to show phenomenal growth in the coming years. Europe is expected to emerge as one of the promising regions in the market. Italy and Germany are anticipated to contribute significantly to regional market growth in future.
Asia Pacific is anticipated to exhibit the fastest growth in the years to come. Increasing awareness regarding nutritional enrichment of the product is expected to boost regional growth. Increasing consumption of fast food along with inactive lifestyle has led to diabetes, obesity, and cardiovascular diseases. Increasing demand for these supplements as an alternative to prescribed drugs among people belonging to upper middle and high socio-economic class is likely to boost regional market growth. Additionally, nutraceuticals manufacturers are predicted to make high investment in countries, such as India, Thailand, China, Bangladesh, and Pakistan.
Some of the prominent players operating in the dietary supplements market include Nature’s Bounty Inc.; Himalaya Global Holdings Ltd.; Nutraceutics Inc.; and Nutraceutics Inc.
For instance, Health Logics, a prominent dietary supplement brand, introduced its new Stabilized SAM-e 200 mg capsules dietary supplement product called S-adenosylmethionine (SAM-e). It is intended to promote the function of liver, joint, and brain, and boost mood and cognition.
Research Support Specialist, USA