Dietary supplements for energy and waste management are
DUBLIN, Ireland, March 10, 2022 (GLOBE NEWSWIRE) — The global dietary supplements market is expected to reach a market value of USD 163 billion by 2022 and USD 351 billion by 2032. The expected growth rate is 8%. over the forecast end point. The expansion of the market can be attributed to the growing awareness of personal health and increasingly hectic work schedules. Additionally, growing reliance on supplements to meet nutrient requirements due to their convenience is another significant cause increasing the market growth over the forecast period.
Regionally, North America is expected to dominate the dietary supplements market. North America is estimated to account for 34% of the global market share in 2021. The region is expected to grow at a CAGR of 5.6% over the assessment period.
Moreover, APAC is likely to be the biggest market in the coming times. The region’s growth can be attributed to increased spending on healthcare products. Countries like India, China and Japan are expected to make significant contributions due to increased disposable income.
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|Expected market value in 2021||$160 billion|
|Estimated market value in 2022||$163 billion|
|Estimated market value in 2032||US$351 billion|
|Projected CAGR from 2022 to 2032||8%|
|North America market share in 2021||34%|
|Profiled Key Companies||• Amway Corp.
• Glanbia Plc.
• Abbott Nutrition
• Bayer AG
• Pfizer Inc.
• Nu Skin Enterprises Inc.
• GlaxoSmithKline Plc.
• Herbalife International of America Inc.
• Nature’s Sunshine Products Inc.
Key insights from market research
- The global dietary supplements market is expected to hold a value of USD 163 billion in 2022 and reach USD 351 billion by 2032.
- Demand for Dietary Supplements for Energy and Waste Management Expected to Accumulate 30% in Revenue in 2022
- North America dominates the market, estimates reveal that the region got around 34% of the global market share in 2021.
- North America is expected to grow at a CAGR of 5% over the forecast period.
- APAC will be the biggest market by 2032
- Europe is expected to grow at a CAGR of 6% over the forecast period.
“The growing disposable income and the convenience of obtaining health-enhancing products through e-commerce are likely to act as a significant escalator in the market during the forecast period.” – says a Fact analyst. SIR.
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The global dietary supplements market is highly competitive and the players are adopting various strategies to expand their reach. Some of the most adopted strategies include partnerships, collaborations and acquisitions. Some of the recent developments among the major players are:
- In September 2020, Prorganiq, a recognized player in natural and organic supplements, unveiled the release of its “24-in-1 Mega Superfoods”. The new product includes a promising formula of 24 different green vegetables, herbs and fruits. 24-in-1 Mega Superfoods is a non-GMO, gluten-free, plant-based dietary supplement.
- In March 2021, Zomato announced its own line of functional foods, such as dietary supplements in the coming times.
Key market segments covered by the global dietary supplements market
- By Ingredient:
- Proteins and amino acids
- Special fibers and carbohydrates
- Omega fatty acids
- By form:
- Food supplement tablets
- Food supplement capsules
- Soft Gels Food Supplements
- Food supplement powders
- Dietary Supplement Gummies
- Liquid Food Supplements
- Other forms of dietary supplements
- Per application:
- Food supplements for energy and weight management
- Food supplements for general health
- Supplements for bone and joint health
- Food supplements for gastrointestinal health
- Food supplements for immunity
- Dietary supplements for heart health
- Food supplements for diabetes
- Dietary supplements for anti-cancer applications
- Dietary supplements for detoxification/lung cleansing
- Food supplements for skin/hair/nails
- Food supplements for sexual health
- Food supplements for brain/mental health
- Food supplements for insomnia
- Food supplements for menopause
- Anti-aging food supplements
- Food supplements for prenatal health
- Food supplements for other applications
- Per end user:
- Food supplements for adults
- Geriatric food supplements
- Food supplements for pregnant women
- Food supplements for children
- Infant food supplements
- By type:
- Over-the-counter dietary supplements
- Prescribed dietary supplements
- By Distribution Channel:
- Offline Dietary Supplement Sales
- Specialty stores
- Online sales of dietary supplements
- Offline Dietary Supplement Sales
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More valuable information
Fact.MR, in its new offering, presents an unbiased analysis of the global dietary supplements market, showcasing historical market data (2015-2021) and forecast statistics for the period 2022-2032.
The study reveals essential information on the basis of ingredients (vitamins, plants, minerals, proteins and amino acids, fibers and special carbohydrates, omega fatty acids, others), form (tablets, capsules, soft gels, powders, gums , fluids, other), application (energy and weight management, general health, bone and joint health, gastrointestinal health, immunity, heart health, diabetes, cancer, detox/lung cleansing, skin/hair /nails, sexual health, brain/mental health, insomnia, menopause, anti-aging, prenatal health, others), end user (adults, elderly, pregnant women, children, infants), type (OTC and prescribed) and channel of distribution (hypermarkets/supermarkets, pharmacies, specialty stores, practitioners and others) in five major regions (North America, Latin America, Europe, Asia-Pacific and Middle East and Africa).
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Our team of food and beverage consultants guide organizations through every step of their business strategy by helping you understand how the latest influencers explain operational and strategic transformation in the food and beverage sector. Our expertise in recognizing challenges and trends impacting the global food and beverage industry provides much-needed insight and support – encompassing a strategic perspective that helps you identify critical issues and design solutions appropriate.
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Low alcohol by volume (ABV) preferences – a major opportunity for this market –
Growing awareness of alcohol consumption and the desire to try new beverages has contributed to the popularity of low-alcohol beers and ciders. In the UK, where off-licence and supermarket sales have reached record levels, this trend is evident in the demand for low-volume alcoholic beverages.
Inherent properties of Tapioca starch increases consumption – The inherent properties of tapioca starch allow it to be used as an alternative to some of the major starches in the world, including corn and potato starch. Thus, tapioca starch has gained immense popularity as the imperative source of calories, after corn and rice, in tropical regions such as Asia, Latin America and Africa.
Antibacterial properties Sugar Date Application in North America – Date sugar has gained popularity in the United States and Canada because it is an excellent substitute for cane sugar. Moreover, consumers use date sugar for various everyday dishes. This, in turn, stimulates the demand for date sugar. Not only is date sugar used in households, but it is also widely used in hotels and food and beverage industries.
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