Health Supplements Market Size, Trends and Growth Analysis By Type (Dietary Supplements, Eye Health Supplements), By Application (Cardiology, Allergy), By Ingredients (Vitamins & Minerals, Botanicals, Amino Acids), By End User (Hospitals, Clinics) - Global Forecast to 2023
Pune, India -- (SBWIRE) -- 12/10/2019 -- Market Analysis
The Global Health Supplements Market Size is anticipated to grow at a 7.8% CAGR between 2017-2023, states the latest Market Research Future (MRFR) report. Health supplements include products that are manufactured as well as marketed to meet those people's dietary needs who are not getting vital nutrition due to certain medical conditions or due to their diet. Such supplements help with different health-related needs, especially digestion and metabolism. They contain dietary ingredients such as herbal extracts, enzymes, proteins, essential fatty acids, vitamins, and minerals to supplement one's regular diet. Health supplements are available in different types such a Health supplements market share specialty supplements, eye health supplements, bodybuilding supplements, dietary supplements, brain health supplements, nutritional supplements, and more and in different forms such as powders, liquids, gelcaps, soft gels, and tablets. Health supplements market share is expected to witness significant growth owing to rapid urbanization and booming pharmaceutical industry.
Various factors are propelling the health supplements market growth. Such factors, according to the latest Market Research Future report, include a rising number of health centers and health & fitness clubs, advancements in product offerings, booming retail & pharmaceutical industries, increasing influence of media and acquaintance, and prevailing occurrence of diseases. Additional factors propelling the growth of the health supplements market include changing lifestyles, increasing urbanization, increasing awareness regarding the functional perks of health supplements, and growing awareness about the maintenance of health. Moreover, a positive consumer attitude towards dietary supplements with added wellness and health benefits is adding to the global dietary supplements market growth.
On the other hand, the lack of awareness regarding the dosage of health supplements, false commitment, and negative publicity are factors that may impede the health supplements market growth during the forecast period.
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Health Supplements Market Segmentation
The Market Research Future report provides an all-inclusive segmental analysis of the health supplements market based on end user, ingredients, application, and types.
By type, the health supplements market is segmented into specialty supplements, eye health supplements, bodybuilding supplements, dietary supplements, and others. Of these, dietary supplements will lead the market during the forecast period for the growing alertness about calorie reduction among gym professionals and athletes.
By application, the health supplements market is segmented into allergy, rheumatic disorders, cardiology, and others.
By ingredients, the health supplements market is segmented into enzymes, botanicals, amino acids, vitamins and minerals, and others. Of these, vitamins and minerals will dominate the market during the forecast period.
By end user, the health supplements market is segmented into research centers, clinics, hospitals, and others.
Health Supplements Market Regional Analysis
By region, the health supplements market report covers the latest trends and growth opportunities across the Americas, the Asia Pacific, the Middle East and Africa, and Europe. Of these, the Americas will remain the driving force in the market during the forecast period. Various factors propelling the growth of the health supplements market in the region include the presence of key market players that are introducing quality products to capture maximum market share, availability of funds for research, and increasing support from the government for research and development activities. Canada and the US are increasing their investment largely in the healthcare sector. In the US dietary supplement is in great demand owing to an increase in the number of insured people, better medical facilities, advanced technology, growing aged population, growing demand for organic health supplements, and increasing healthcare expenditure in the country.
The health supplements market in Europe will have the second-largest share during the forecast period. Various factors propelling the growth of the health supplements market in the region include the presence of major players in the region, increased research and development activities, increasing support from the government for R&D, high healthcare spending, growing awareness about the different advantages of taking health supplements, and availability of various advanced products.
The health supplements market in the APAC region will grow at the fastest pace during the forecast period. Various factors propelling the growth of the health supplements market in the region include growing demand for good quality products in China and India, high healthcare expenditure, huge patient population, and rapidly expanding healthcare technology.
The health supplements market in the MEA will have a small share during the forecast period for lack of healthcare awareness coupled with the lack of available funds.
Health Supplements Market Key Players
Notable players profiled in the health supplements market report include GlaxoSmithKline Limited (UK), Bayer AG (Germany), The Nature's Bounty Co. (US), Alticor Inc. (US), Abbott Laboratories (US), Glanbia Plc (Republic of Ireland), E. I. du Pont de Nemours & Company (US), BASF SE (Germany), and Herblife International (US).
November 2019: Leading UK based health and wellness company Trio Sana has come up with two dietary supplements (Kollagenix-Sports and Kollagenix-R) and Certified NOP organic frankincense to target issues that people deal with day-to-day.
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