ResearchMoz added Latest Research Report titled " Supplement Market in the US 2016-2020: Worldwide Market Size, Shares, Trends, Growth, Survey and Forecast report " to it's Large Report database.
Albany, NY -- (SBWIRE) -- 06/03/2016 -- Many people across the world take dietary supplements on a daily basis for various purposes, including compensating for nutritional deficiencies, losing weight, bodybuilding purpose, or enhancing their sexual life. Hence, the use of these supplements is on the rise. Technavios market research analyst expects the supplements market in the US to grow at a CAGR of more than 7% during the forecast period. Supplements are available in the market in various forms, including traditional tablets, capsules, drinks, powders, and energy bars and contain amino acids, enzymes, fatty acids, fiber, herbs, minerals, and vitamins.
Supplements are also popularly known as complementary or alternative medicines (CAM) and is used by many individual as an alternative to medicines, which is one major factor driving the growth of the market. In 2012, a survey was conducted, which found that 22% of the people with diabetes used a type of herbal supplement while another study found that 31% used dietary supplements to maintain their blood sugar levels. Nearly four in every 10 Americans use herbal and other types of supplements as a source of relief and cure from health issues such as colds, depression, influenza, and arthritis. Thus, the use of supplements as alternative medicines for diseases is boosting their demand among end-users in the US, hence leading to the overall market growth.
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Product segmentation and analysis of the supplements market in the US
- Herbal and botanicals
- Meal replacements
- Sports nutrition
As of 2015, the vitamin supplements segment dominated the market in the US with a market share of more than 47% of the market share. About half of the American population takes multivitamins, and many individuals take specific vitamin supplements, recommended based on certain conditions. For instance, folic acid is recommended for expectant mothers or women who are planning pregnancy as it helps prevent neural tube birth defects.
Competitive landscape and key vendors
The global players are expanding their footprint in the US. Hence, regional vendors are finding it increasingly difficult to compete with them in terms of quality, technology, and pricing. Technavio predicts that these global players will eventually expand their presence in the US and augment their market share by acquiring regional or local players during the forecast period.
The top vendors in the market are -
Brose Report details at: http://www.researchmoz.us/supplement-market-in-the-us-2016-2020-report.html
Key questions answered in the report include -
- What will the market size and the growth rate be in 2019
- What are the key factors driving the supplements market in the US
- What are the key market trends impacting the growth of the supplements market in the US
- What are the challenges to market growth
- Who are the key vendors in the supplements market in the US
- What are the market opportunities and threats faced by the vendors in the supplements market in the US
- What are the key outcomes of the five forces analysis of the supplements market in the US
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