The growth in the dietary supplements is likely to attract new products and new players in the global dietary supplements market. Moreover, the dietary supplements market is highly fragmented in nature and highly competitive.
Pune, India -- (SBWIRE) -- 02/01/2018 -- Competition is likely to remain high in the global dietary supplements over the period of 2017 to 2023 as a result of substantial growth in the dietary supplements market. A new research report published by Infinium Global Research identified that the global dietary supplements market is set to grow on the backdrop of growing awareness about the lifestyle diseases and digestive problems among the aged population. The growth in the dietary supplements is likely to attract new products and new players in the global dietary supplements market. Moreover, the dietary supplements market is highly fragmented in nature and highly competitive. The companies operating in this market compete on the basis of price, health benefits, contents and innovations. The global market size of dietary supplements was USD 69.24 billion in 2016 and it is projected to reach to USD 102.74 billion in 2023 growing at a CAGR of 5.8% between 2017 and 2023.
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North America led the global dietary supplements market, which is attributable to the growing prevalence of the geriatric population and growing lifestyle diseases among the citizens of the U.S. and Canada. Moreover, high level of awareness among the people about the use of dietary supplements in the U.S. is a primary driver promoting the growth in this region. Asia-Pacific region is expected to grow at the highest rate over the next six years owing to rapid lifestyle changes among the consumers in India, and China. Moreover, growing geriatric population in Japan and other countries in the Asia Pacific region is likely to act a major driver in the region.
E-commerce sector to escalate the growth in dietary supplements
According to the survey results by Infinium Global Results over 45% of the population in the developed countries prefer online delivery of dietary supplements. The shift from retail to online channels by the companies operating in this industry is a key driving factor. Moreover, large brands such as Amway and Herbalife among others have given more emphasis on online marketing of dietary supplements. The e-commerce industry has grown significantly over the past few years as a result the developments in this industry is likely to boost the market for dietary supplements over the next few years.
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The report segments the global dietary supplements market as:
Market segmentation based on Product type
Fish oil and omega fatty acids
Combination dietary supplements
Eye health supplements
Browse Research Report: https://www.infiniumglobalresearch.com/food_beverage/global_dietary_supplements_market
Companies profiled in the report
Biorio Pharm, China