Changing Lifestyle in various Develop Countries is Growing the Global Dietary Supplement Market
According to a new report published by Reports Monitor titled, “Dietary Supplement Market by Type, Property & Applications: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the dietary supplement market was valued at XX million in 2016 and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Asia Pacific accounts as the largest region for this market owing to increasing awareness towards nutritional enrichment especially in the countries such as China and India.
Dietary supplements are the products that one eats and drink to support good health and supplement the diet. These are not medicines, nor should they be considered as a substitute for food. Moreover, dietary supplements include vitamin, mineral, herb or other botanical, amino acid, and concentrate, metabolite, constituent, or extract.
Disease prevention, increasing influence of media, friends, and relatives, development in retail & pharmaceutical industries, and fast advancements in product offerings are some of the elements driving the market to grow. There are number of other factors driving the market such as medical conditions or doctor recommendations, increasing awareness about the functional advantages of dietary supplements, growing urbanization & changing lifestyle. However, elements such as negative publicity and false product are expected to hamper the growth of the market. Additionally, lack of awareness regarding the consumption of dosage of the supplements are restraining the growth of the market.
Based on the segmentation, the market is bifurcated into ingredients, product, application, end-user, and region. Depending upon the ingredients, the market is classified into botanicals, vitamins, minerals, amino acids, enzymes, and others. According to the product segment, the market is categorized into tablets, capsules, powder, liquids, soft gels, and gel caps. On the basis of application, it consists of various segments such as additional dietary supplements, medicinal dietary supplements, and sports nutrition. Based on the end-users, the market is fragmented into infants, children, adults, pregnant-women, and old-aged.
The major companies in the report include: Herblife International, BASF SE, E. I. DU PONT DE NEMOURS AND COMPANY, Glanbia Plc, Royal DSM N.V., Abbott Laboratories, Amway Enterprises, NBTY Inc., Bayer AG, and GlaxoSmithKline Limited. For instance, in April 2018, BASF has announced that it has become a member of a Personalized Nutrition & Health research consortium founded by university and independent researchers in Europe.
Key Question Answered: •What will be the market size in 2025 and at what rate it will grow? •Who are the major key players in global dietary supplement market and what are their strategies? •Which vertical industry is expected to show major growth? •What segment and region will lead the market and why?
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