Theglobal dietarysupplements market size is expected to showcase an exponential growthby reaching USD117.92 billion by 2027 while exhibiting a CAGR of 9.8%between 2020 and 2027. This is attributable to the increasing demand forpersonalized dietary supplements and the rising prevalence of chronic diseasessuch as diabetes, hypertension, high cholesterol levels, and other heartailments. This information is published by Fortune Business Insights, in itslatest report, titled, “DietarySupplements Market Size, Share & COVID-19 Impact Analysis, By Type(Vitamins, Minerals, Enzymes, Fatty Acids, Proteins, and Others), Form(Tablets, Capsules, Liquids, and Powders), and Regional Forecasts, 2020 –2027.” Thereport further mentions that the market was worth USD 48.22 billion in 2019 andis likely to rise in the forthcoming years.
Surging Demand for Immunity Boosting Diet amid COVID-19
TheCOVID-19 outbreak has put tremendous pressure on healthcare services. Severalfrontline workers such as medical professionals, nurses, and others arebattling hard to contain the spread of the novel coronavirus. The governmentagencies have advised the citizens to follow a healthy and nutritious dietregime to fight the disease. This is expected to boost the demand for thesesupplements that promote good health and optimum functioning of the body byproviding the necessary vitamins and minerals. The global market is expected toexperience positive growth in the near future.
Dietarysupplements are products that supplement consumers with the necessary nutrientsthat are sourced from synthetic or natural food sources. These supplements areprovided in the form of capsules, pills, tablets, or liquids. Some of thepopular products include minerals such as iron and calcium, vitamins B12 and D,and others. The consumption of these products lead to improved physicalperformance, helps to build muscles, and delays fatigue amongst people.
What does the Report Include?
Theglobal human dietary supplements market report includes quantitative andqualitative analysis of several factors such as the key drivers and restraintsthat will impact growth. Additionally, the report provides insights into theregional analysis that covers different regions, which are contributing to thegrowth of the market. It includes the competitive landscape that involves theleading companies and the adoption of strategies by them to introduce newproducts, announce partnerships, and collaborations that will contribute to thegrowth of the market between 2020 and 2027. Moreover, the research analyst hasadopted several research methodologies such as PESTEL and SWOT analysis toextract information about the current trends and industry developments thatwill drive the market growth in the forthcoming years.
DRIVING FACTORS
Increasing Demand for Personalized Dietary Supplements to BolsterGrowth
Accordingto research by Epsilon in 2018, about 80% of consumers found personalizationservices appealing. Today, consumers expect personalization in every singlething such as preferring their own designer wear to instruct the restaurants tocater to their dietary needs. In addition to this, these supplements need tofight against several lifestyle-related diseases such as obesity,cardiovascular disease, and diabetes, among others, varies from person toperson. This is propelling the demand for providing personalized programs bycompanies that are expected to further drive the global market during theforecast period.
SEGMENTATION
Vitamins Segment Held a Market Share of 37.14% in 2019 Owing toIncreasing Consumption
Thevitamins segment, based on type, is expected to showcase an augmented growthbacked by the increasing consumption of dietary supplements owing to thesurging prevalence of vitamin-deficiency among the population. The vitaminsegment held a market share of 37.14% in 2019 and is likely to remain dominantin the food supplements market.
REGIONAL INSIGHTS
Increasing Demand for Nutritional Products in Asia-Pacific to AidGrowth
Amongall the regions, the market in Asia-Pacific is expected to experiencesignificant growth in the forthcoming years. This is attributable to theincreasing demand for nutritional food products such as dietary supplements inthe region. The increasing health-consciousness amongst the population incountries such as India and China is expected to favor growth in Asia-Pacific.North America is anticipated to showcase an exponential growth owing to theincreasing prevalence of lifestyle diseases and the presence of the agingpopulation between 2020 and 2027. The region stood at USD 11.95 billion in 2019and is likely to grow in the near future.
Gain More Insights into this Research:
https://www.fortunebusinessinsights.com/dietary-supplements-market-102082
