Dietary Supplements Market - Global Industry Analysis and Opportunity Assessment 2015 – 2025
Valley Cottage, NY -- (SBWIRE) -- 11/28/2017 -- The dietary supplements market continues to grow at a rapid pace as a result of increasing consumer awareness of a good diet for healthy living. The global dietary supplements market is expected to witness significant growth over the forecast period, accounting for US$ 252,100 Mn by 2025, reflecting a CAGR of 7.4%. Consumers are moving towards a healthy lifestyle through physical activity and a nutritious diet coupled with an influx of integrative medicine and complementary alternative medicine. This is an observed trend in the dietary supplements market across the key regions of North America, Latin America, APEJ, Western Europe, Eastern Europe, Japan, and MEA.
Factors influencing market trends of the dietary supplements market
Medical conditions or doctor recommendations, growing awareness about the functional benefits of dietary supplements, increasing urbanization and changing lifestyles, maintenance of health to avoid later treatment, ensuring adherence to recommended dietary requirements, treatment of illnesses, disease prevention, growing influence of media, friends, and relatives, development in the retail and pharmaceutical industries, and rapid advancements in product offerings are some of the factors impacting increasing consumer adoption of dietary supplements and healthcare products. However, factors such as negative publicity and false product claims are expected to hinder overall growth of the market in the near future. Moreover, lack of awareness about consumption of dosage of the supplements is expected to restrain growth of the dietary supplements market during the forecast period.
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Region-wise market trends and projections
The APEJ market is expected to record a CAGR of 9.2% over the forecast period, accounting for US$ 57,789.5 Mn by 2025. Japan is expected to record a CAGR of 6.4% over the forecast period, accounting for US$ 20,392.5 Mn by 2025. The North America market is expected to record a CAGR of 7.2% over the forecast period, accounting for US$ 78,894.7 Mn by 2025. Western Europe is expected to record a CAGR of 7.0% over the forecast period, accounting for US$ 60,146.9 Mn by 2025. The Latin America market is expected to record a CAGR of 8.5% over the forecast period, accounting for US$ 14,272.4 Mn by 2025. Eastern Europe is expected to record a CAGR of 7.0% over the forecast period, accounting for US$ 60,146.9 Mn by 2025. MEA is expected to record a CAGR of 5.4% over the forecast period, accounting for US$ 6,007.4 Mn by 2025.
APEJ is estimated to be the most attractive region in terms of growth in the global dietary supplements market over the forecast period. The North America market is expected to register the highest total index by 2025 while the Latin America market is expected to show a substantial growth over the forecast period. Western Europe is likely to register the second-highest total index by 2025.
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Key market players
Key players identified in the global dietary supplements market are 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. These companies are focused towards product innovation to broaden their product portfolios in order to meet diverse demands of various end user industries and enhance their market presence.