Global "Dietary
Supplements Market" 2024 Industry
research report covers the industry overview with Marketplace Size, Share,
Development, futuristic cost, earnings, demand and distribution data. Its vast
repository offers an analytical summary of the marketplace that can help to the
new and existing player to take a significant decision.
In this report, we
thoroughly examine and analyse the Global market for Dietary Supplements so
that market participants can improve their business strategy and ensure
long-term success. This report provides players with useful information and
suggests result-based ideas to give them a competitive advantage in the global Dietary
Supplements industry. It will show how other players compete in the global Dietary
Supplements Market and explain the strategies you use to differentiate yourself
from other participants.
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Global Dietary Supplements
Market is expected to reach USD 278.02 billion by 2024, at a CAGR of 9.6% as
the scope, product types, and its applications are increasing across the globe.
A dietary supplement is planned in order to provide the necessary nutrients to
the body which may otherwise not be consumed in adequate amount. Dietary
Supplements come in several forms such as pills, powders, drinks, energy bars,
capsules, etc. Dietary Supplements generally consist of proteins, vitamins,
fatty acids, fibers, etc. However, in some circumstances dietary supplements
may have risks.
There are a number of
factors that propel the growth of the global Dietary Supplements Market such as
increasing awareness regarding the advantages of dietary supplements,
maintenance of health, changing lifestyles, medical conditions, doctor
recommendations, and rapid innovation in products. On the other hand, there are
also factors that hamper the growth of the market, such as lack of awareness
regarding the amount of the supplements and negative publicity & incorrect
product claim. Additionally, there are also adverse effects. For instance,
consumption of excess amount of Vitamin A as a supplement may cause liver
damage, headaches, etc. Large doses of minerals and vitamins may cause nerve
damage, nauseas, weight loss, etc.
Market may be explored by
ingredient type, forms, product, applications, end users, distribution channel,
and geography. Dietary Supplements may be explored by ingredient type as
Botanicals, Minerals, Vitamins, Amino Acids, Enzymes, and Others. The other
ingredients may consist of extracts, concentrate metabolite, etc. In case of
ingredients, vitamins were extensively used and held a major share of the
dietary supplements market.
Dietary Supplements may be
explored by form as powder, liquid and pills or soft gel. The pills or soft gel
comprise of two classes the pharmaceutical products and confectionary products.
The pharmaceutical products consist of chewable pills, pills and gel caps. The
confectionary products consist of gummies, chews and others. Dietary
Supplements may be explored by product as Tablets, Gel Caps, Capsules, Liquids,
Powder, and Soft Gels. Dietary supplements market may be explored by
applications as Additional Dietary Supplements, Medicinal Dietary Supplements,
and Sports Nutrition and other specific requirement (anti allergies, beauty supplements,
etc.)
Market may be explored by
end users as Infants, Adults, Children, Old-Aged and Pregnant Women. Amongst
the end user segment, adults accounted for the major share of the market. The
factors that attribute to the growth of this sector is the growing use of
multivitamin tablets in order to keep up a healthy lifestyle.
Dietary Supplement industry
may be explored by end users as pharmacies, health & beauty stores,
hypermarket & supermarket, internet and direct selling. Asia-Pacific has
been at the forefront with regards to Dietary Supplement Market and will
continue to rule the roost in the years to come. The factors that attribute to
the growth of Asia Pacific market include rising population, increasing
disposable income, etc.
Some of the key players
that fuel the growth of the Dietary Supplements Industry include BASF SE,
Herblife International, Glanbia Plc, Royal DSM N.V., E. I. DU PONT DE NEMOURS
AND COMPANY, Abbott Laboratories, Bayer AG, NBTY Inc., and GlaxoSmithKline
Limited, Amway Enterprises. The key players are focusing on inorganic growth to
sustain themselves amidst fierce competition. As such, mergers, acquisitions,
and joint ventures are the need of the hour.
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