Pune, Maharashtra -- (SBWire) -- 05/28/2019 --According to a recent Fact.MR study, the global US$ 75 billion OTC vitamins and dietary supplements market is likely to grow at 6.6% in 2019. Growing focus on preventive healthcare remains one of the key driving factors for OTC vitamins and dietary supplements market. The study opines that North America, led by steady sales in the US, will continue to retain its leading position in the OTC vitamins and dietary supplements market, accounting for relatively high revenue share in 2018. Proliferating health-conscious demographic and continuous introduction of new products by manufacturers in the OTC vitamins and dietary supplements industry are likely have a significant influence on the market performance in North America.
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APEJ is anticipated to emerge as the most attractive region for OTC vitamins and dietary supplements market on the back high disposable income, influencing consumers to trade up to premium supplements and purchase a high-quality variety of goods. Growing awareness regarding the health benefits of these supplements along with their buying convenience and cost effectiveness is likely to favor the expansion of OTC vitamins and dietary supplements market in various countries across APEJ.
The study also finds that emerging trends of self-directed consumers and self-medication for addressing minor health issues will be highly impactful on the overall growth of global OTC vitamins and dietary supplements market.
Pharmacies Lead Gains in Global OTC Vitamins and Dietary Supplements Market
Pharmacy is projected to be the leading OTC channel in global OTC vitamins and dietary supplements market, accounting for over 27% revenue share in 2017. However, the segment is foreseen to lose a small fraction of its share, due to penetration of new OTC channels including modern trade and online store.
In addition to adopting new channels to promote and sell their products, manufacturers in OTC vitamins and dietary supplements industry are focusing on improving the functionality of these supplements through innovations in product formulation. This, in turn, is expected to open new avenues of growth of OTC vitamins and dietary supplements market.
Capsules of OTC Vitamins and Dietary Supplements to Represent Large Sales Growth
Significant growth of the OTC vitamins and dietary supplements market can be attributed to relatively high sales of capsule based products, which closed in a valuation of nearly US$ 23.6 billion in 2017.
Based on function, the use of OTC vitamins and dietary supplements is likely to remain robust for maintaining general well-being of the body. The segment is expected to represent a significant revenue share of more than 25% in the global OTC vitamins and dietary supplements market in 2017.
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Rise in Industry-specific Regulations by FDA to Restrict Market Growth
Although OTC vitamins and dietary supplements are generally sold with no medical prescription, they are regulated by government bodies for ensuring that the ingredients used are safe and effective. In the recent years, increase in number of adulterated and misbranded products along with mislabeling claims and other scandals have reduced consumer confidence in OTC vitamins and dietary supplements and raised concerns among the key regulatory agencies such as FDA. This has led to surge in stringent industry-specific regulations which may limit the global expansion of OTC vitamins and dietary supplements market.
The Fact.MR study also provides a detailed and accurate forecast of global OTC vitamins and dietary supplements market for the period of 2017-2022. The market is anticipated to grow at a promising 6.7% CAGR through 2022.
To deliver a seamless understanding of the OTC Vitamins & Dietary Supplements market, the report is divided into 18 sophisticated chapters whose snapshots are provided below.
Chapter 1 – Executive Summary
The report commences with the chapter of the executive summary which delivers brief yet affluent information of the OTC Vitamins & Dietary Supplements market. The chapter includes discussion on the market overview, market analysis and market recommendations regarding the OTC Vitamins & Dietary Supplements market derived based on Fact.MR's proprietary wheel of fortune.
Chapter 2 – Market Introduction
In the market introduction chapter, the OTC Vitamins & Dietary Supplements market is introduced along with the
market segmentation in the form of market taxonomy. The chapter also introduces the OTC Vitamins & Dietary Supplements in the market definition section.
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Chapter 3 - OTC Vitamins & Dietary Supplements Market Background
In this chapter, macroeconomic factors, market dynamics, a complete value chain and pricing
analysis with regard to OTC Vitamins & Dietary Supplements market is elaborately discussed. Discussion on the
market drivers, restraints, trends and opportunities and their impact on the market forecast is also
covered in this chapter.
Chapter 4 - Global OTC Vitamins & Dietary Supplements Market Analysis 2013–2017 and Forecast 2018–2026
This chapter provides the OTC Vitamins & Dietary Supplements market size in terms of market volume and value
during the forecast period. Market analysis based on absolute $ opportunity and y-o-y growth of the OTC Vitamins & Dietary Supplements market is also covered in this chapter.
Chapter 5 - Global OTC Vitamins & Dietary Supplements Market Analysis 2013–2017 and Forecast 2018–2026,
By System Type Based on system types in the OTC Vitamins & Dietary Supplements market, the chapter elaborates market size of individual systems and analysis by system types and summary of this section is covered in the chapter.
Chapter 6 - Global OTC Vitamins & Dietary Supplements Market Analysis 2013–2017 and Forecast 2018–2026, By Application
Based on applications, Market size of individual applications, their market attractiveness analysis and summary are also covered.
Chapter 7 - Global OTC Vitamins & Dietary Supplements Market Analysis 2013–2017 and Forecast 2018–2026, By End User
This chapter elaborates the segmentation of the OTC Vitamins & Dietary Supplements market based on end users
including independent end users, Market attractive analysis by end users is also discussed to fathom relative lucrativeness of different end users of the OTC Vitamins & Dietary Supplements market.
Chapter 8 - Global OTC Vitamins & Dietary Supplements Market Analysis 2013–2017 and Forecast 2018–2026, By Region
With the geographical perspective, the OTC Vitamins & Dietary Supplements market is analyzed on a total of seven regions including North America, Latin America, Europe, South East Asia & Pacific, Middle East & Africa, China and Japan. Historical data and prevailing trends in the OTC Vitamins & Dietary Supplements market and their influence on the global market performance is discussed in this chapter.
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OTC Vitamins & Dietary Supplements Market: Extensive Analysis of Key Segments of the Industry and Emerging Growth Factors with Current Trends and Future Estimations
Fact.MR has announced the addition of the “ OTC Vitamins & Dietary Supplements Market Forecast, Trend Analysis & Competition Tracking - Global Market insights 2018 to 2028"report to their offering.