Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Dietary supplements are products intended to supplement the diet. They are not drugs and, therefore, are not intended to treat, diagnose, mitigate, prevent, or cure diseases. These supplements include vitamins, minerals, herbs, botanicals, enzymes, amino acids, or other dietary ingredients. They are widely available in health food stores, drug stores, grocery stores, fitness centres and online. Until 1994, dietary supplements were under the regulatory authority of the FDA. In 1994, the Dietary Supplements Health and Education Act (DSHEA) removed FDA’s authority by excluding dietary supplements from the FD&C Act. As a result of these provisions, dietary ingredients used in dietary supplements are no longer subject to the pre-market safety evaluations required of other new food ingredients. All products labelled as a dietary supplement carry a supplement facts panel that lists the contents, amount of active ingredients per serving, and other added ingredients like fillers, binders, and flavourings.
The global dietary supplements market is majorly driven by the paradigm shift toward preventive health management practices amid rising healthcare costs and increasing burden of lifestyle diseases. Furthermore, digitization in marketing is expected to lift the future growth of dietary supplements. Moreover, the huge acceptance of herbal and probiotic supplements is also expected to propel the market growth. The FDA has established good manufacturing practices (GMPs) for dietary supplements to help ensure their identity, purity, strength, and composition. These GMPs are designed to prevent the inclusion of the wrong ingredient, the addition of too much or too little of an ingredient, the possibility of contamination, and the improper packaging and labelling of a product. The FDA periodically inspects facilities that manufacture dietary supplements.
The report analyses the global dietary supplements market based on type, form, end user, application and geography.
Based on type, the market is categorized into vitamins, herbs & botanicals, minerals, proteins & amino acids, fatty acids, probiotics, fibers & specialty carbohydrates and others including prebiotics, carotenoids, glucosamine etc. Amino acids are used to synthesize certain hormones, other amino acids, some neurotransmitters and new proteins. These proteins have diverse roles in the body, acting as enzymes, receptors on cell membranes, oxygen transport molecules (haemoglobin), structural components (hair and nails), hormones, antibodies, and muscle proteins.
Various forms of the dietary supplements are tablets, capsules, powder, liquids and others such as soft gels and gel caps. Amino acids, omega 3 and vitamin supplements are majorly available in the form of liquids. The manufacturers including GlaxoSmithKline plc and Pfizer have been increasing spending on manufacturing dietary supplements in the form of fluids to their consumer bases.
The major end users of dietary supplement are adults, geriatric, pregnant women, children, and infants. Adults segment is anticipated to have majority of the market share over the forecast period. Increasing concerns associated with fat reduction and mounting focus on advancing nutrition intake is anticipated to promote the segment growth over the upcoming years. Improved use of dietary supplements for nutritional enrichment for pregnant women is likely to aid the segment notice a considerable growth rate. Ingredients including folate, prenatal multivitamin, vitamin D3, magnesium are mostly used to manufacture dietary supplements intended for pregnant women. However, the rising significance of infant formula together with nutritional content on account of new product launches by baby food manufacturers like is expected to limit the usage of these products.
The market finds application in Energy and Weight Management, General Health, Bone and Joint Health, Immunity, Diabetes etc. Initiatives taken by government to promote nutritional diet together with increased awareness of the need of weight loss is expected to drive the market for energy and weight management. Moreover, increased occurrence of chronic diseases like arthritis, cardiovascular problems, and diabetes together with the benefits associated with plant-extracted drugs over synthetic drugs are aspects anticipated to drive the market over the forecast period.
The increasing geriatric population has opened several opportunities for producers as majority populace at this age cannot meet their Recommended Dietary Allowances (RDA) due to insufficient nutrient intake which results in driving the demand for dietary supplements for the elderly.
Geographically, the global dietary supplements market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world regions which includes Latin America, and Middle East & Africa. Rising inclination toward fitness owing to the increasing awareness of lifestyle-related conditions is one of the primary growth factors for the dietary supplements market in the North America. The U.S. dominated the dietary supplements market owing, presence of major manufacturers such Abbott Laboratories, Pfizer Inc, Nature’s Bounty, Inc., Amway, Nestle Health Science and increase in usage among adults between the ages of 18 and 34. For instance, as per the recent annual survey conducted by Ipsos Public Affairs on behalf of the Council for Responsible Nutrition (CRN), about 71% of U.S. adults or more than 170 million Americans are consuming dietary supplements for various dietary purposes. Furthermore, increasing geriatric population has also upsurge the growth of this market.
The leading dietary supplements market players are Advocare, Amway, Bayer AG, Bio-Botanica Inc., Blackmores Ltd., GNC Holdings Inc., GlaxoSmithKline plc, Herbalife Ltd., Integrated BioPharma, Inc., Koninklijke DSM N.V., Naturalife Asia Co. Ltd., Nature’s Bounty, Inc., Nu Skin Enterprises, Inc., Omega Protein Corporation, Pfizer Inc., Pharmavite LLC, Reckitt Benckiser, Sanofi, Surya Herbal Ltd. and the Himalaya Drug Company among others. Market players are involved in product launches and collaboration agreements to exploit maximum revenue potential in global dietary supplements market.
The report analyses the global dietary supplements market based on type, form, age group, application and geography. Based on type, the market is categorized into vitamins, herbs & botanicals, minerals, proteins & amino acids, fatty acids, probiotics, fibers & specialty carbohydrates and others. Various forms of the dietary supplements are tablets, capsules, powder, liquids and others such as soft gels and gel caps. The major end users of dietary supplement are adults, geriatric, pregnant women, children, and infants. Adults segment is anticipated to have majority of the market share over the forecast period. The market finds application in Energy and Weight Management, General Health, Bone and Joint Health, Immunity, Diabetes etc. Initiatives taken by government to promote nutritional diet together with increased awareness of the need of weight loss is expected to drive the market for energy and weight management. Geographically, the global dietary supplements market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world regions which includes Latin America, and Middle East & Africa.
Why to buy this report:
