New York, NY -- (SBWIRE) -- 11/26/2020 -- A paradigm shift towards preventive health care due to high healthcare costs is propelling dietary supplements industry growth.

Market Size – USD 147.8 Billion in 2019, Market Growth - CAGR of 5.5%, Market Trends – good health becoming a lifestyle choice among masses.

The Global Dietary Supplements Market size was valued at USD 147.8 Billion in 2019 and is forecast to reach USD 228.19 Billion, at a CAGR of 5.5% through 2027. The market growth is driven by shifting focus towards preventive healthcare management to keep diseases at bay. Dietary Supplements provide various health benefits such as protection from cold & flu, strengthening the immune system, preventing migraine headaches, rheumatic diseases, allergies, lower triglyceride levels, blood pressure & cholesterol, and preventing cardiovascular and cognitive diseases.

Dietary supplements contain one or more dietary ingredients like minerals, vitamins, protein & amino acids, botanical ingredients, and others. They are intended to supplement the diet and enhance overall wellbeing. Nutrition supplements can be consumed in various forms, including capsules, pills, tablets, powder, or liquids. These supplements are in high demand due to their immunity-boosting properties, especially since the COVID-19 outbreak.

The expanding geriatric population base, spread of chronic diseases, and rising consumer awareness regarding health & nutrition are the key factors stimulating dietary supplements market growth. The proliferation of m-commerce and e-commerce platforms are also spurring the industry in a positive direction.

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The growth in mass media communications & advertisements pertaining to pharmaceutical & retail sectors is fuelling the adoption of dietary supplements among all age-groups. The acceptance of nutraceuticals is increasing due to cost-effectiveness, the convenience of direct purchase, and increased focus on self-medication in cases of minor health issues. Moreover, increased use of supplements for weight management, robust growth in the sports nutrition segment, and heavy product discounts on e-commerce sites will positively impact dietary supplements industry statistics over the forecast period.

This report gives detailed dietary supplements market analysis along with the changing industry dynamics. A major trend that has been observed is that the larger companies are buying out smaller players to gain leverage in particular niche market segments. For instance, Glanbia PLC acquired Watson in 2019. Watson Inc. is a US-based manufacturer and supplier of bakery ingredients, edible films & material conditioning solutions, and high-quality custom nutrient premixes. The acquisition will enable Glanbia PLC to foray into the growing nutrient premix market and expand its footprint in the United States.

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Further key findings from the report suggest

o Innovation like micro and nano-encapsulations that solve solubility problems, stability, and improve bioactive compounds' bioavailability favor dietary supplements industry growth.

o Based on ingredient, the vitamin supplements market in North America is estimated to reach USD 20.44 billion in terms of revenue in 2027. The robust growth can be attributed to the growing product awareness and the proliferation of mobile apps assisting patients with proper supplement intake.

o On the basis of application, the sports supplement segment will account for USD 29 billion in terms of revenue over the analysis period due to increased production-consumption by sportsmen and health-conscious consumers.

o Based on the distribution channel, the online segment is forecast to witness the fastest growth rate over the analysis period.

o Regionally, the APAC region is expected to be the largest dietary supplements market, accounting for a major global share, followed by North America and Europe through 2027. North America and Europe will remain profitable markets due to the lack of price pressure, which is common in the APAC region.

o Europe is estimated to contribute significantly to the dietary supplements market share with a revenue generation of approximately USD 34 billion, at a CAGR of 9.5% through 2027.

o Prominent players contributing towards the global dietary supplements market share are Abbott Laboratories, Archer Daniel Midland, GlaxoSmithKline, Dupont, Bayer, Amway, Glanbia Nutritionals, Pfizer, Reckitt Benckiser Group, and Herbalife International, among others.

For the purpose of this report, Reports and Data has segmented the global dietary supplements market on the basis of ingredient, product, application, distribution channel, and region:

Ingredient (Revenue, USD Million; 2017–2027)
- Botanicals
- Vitamins
- Minerals
- Protein & Amino acids
- Enzymes
- Others

Product (Revenue, USD Million; 2017–2027)
- Tablets
- Capsules
- Powder
- Liquid
- Soft gels
- Gel caps

Application (Revenue, USD Million; 2017–2027)
- Additional Supplements
- Medicinal Supplements
- Sports Supplements

Distribution channel (Revenue, USD Million; 2017-2027)
- Hospital Pharmacies & Drug Stores
- Clinic Supermarkets & Hypermarkets
- Online
- Others

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Regional Outlook (Revenue in USD Million; 2017–2027)
- North America
o U.S.
o Canada
o Mexico
- Europe
o Germany
o France
o UK
o Italy
o Rest of the Europe
- Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
- Middle East & Africa
o South Africa
o Rest of Middle East & Africa
- Latin America
o Brazil
o Rest of Latin America

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