The global Dietary Supplements Market Size is expected to reach USD 74.14 Billion by 2026, exhibiting a CAGR of 6.34% during the forecast period. The increasing cases of diseases such as obesity and other lifestyle disorders will encourage the growth of the market in the forthcoming years.
Furthermore, the enabling regulations on food and supplements by regulatory authorities such as the Food and Drug Administration of United States (FDA) will fuel demand for dietary supplements during the forecast period. For instance, in 2016, FDA stated that a definition for dietary fiber for the first time declaring that dietary fiber will be measured as any naturally occurring fibers that are “intrinsic and intact” in plants as well as some synthetic nondigestible carbohydrates. FDA has also determined that it has physiological effects that can benefit human health.
There are now 17 nondigestible substances that the FDA classifies as dietary fiber, and that helps reduce blood cholesterol. In addition, the USDA issued new rules concerning the nutritional content of school lunches across America. The changes would reduce the amount of fruit that schools are required to offer students for breakfast from one cup to a half cup. allowing more “flexibility” in the vegetables served in schools. These new rules and regulations regarding the nutritional value of the food will consequently aid the growth of the market in the foreseeable future.
List of Best Companies in the Dietary Supplements Market Include;
- Amway Corp
- Nestle S.A.
- Herbalife Nutrition Ltd.
- Archer Daniels Midland Company
- Glanbia Nutritionals
- Otsuka Holdings Co. Ltd.
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According to the report, published by Fortune Business Insights in a report, titled “Dietary Supplements Market Size, Share & Industry Analysis, By Form (Tablets, Capsules, Liquids, and Powders), Type (Vitamins, Minerals, Enzymes, Fatty Acids, Proteins, and Others), and Regional Forecasts, 2019 – 2026” the market size stood at USD 45.75 Billion in 2018. The report focuses on demonstrating a complete assessment of the Dietary Supplements Market analysis. It contains facts, thoughtful insights, historical information, industry-validated market information, and projections with a suitable set of assumptions and methodology. It offers valuable insights into all the notable developments of the market. It shares a complete overview of all the segments & parts of the market and also provides statistical data on all the regions. It is created after extensive research followed by an all-encompassing analysis to benefit companies, stakeholders, financers, and potential investors. Moreover, it also includes product launches, acquisitions, collaborations & partnerships, and industry developments.
Introduction of OptUp by The Kroger Company to Promote Market Expansion
The rising awareness regarding personalized or tailor-made nutritional products is expected to escalate the market demand during the forecast period. Technological advancements and increased investment in research & development of functional foods and supplement products will ease the development of the Dietary Supplements Market. Furthermore, the development of smartphone applications by leading companies with an aim to offer personalized product suggestions or recommendations to consumers will aid the Dietary Supplements Market in the foreseeable future. For instance, in July 2018, The Kroger Company, a prominent American retail company based in Ohio, introduced “OptUp,” an app designed to offer personalized product suggestions or recommendations to consumers. With the help of the newly launched app, customers can get their nutritional information at their fingertips.Moreover, the surge in health-conscious consumers around the world will promote the Dietary Supplements Market trends during the forecast period, states our lead analysists at Fortune Business Insights. In addition, the rising emphasis on sports and bodybuilding will back the Dietary Supplements Market growth.
Nurtient Deficiencies to Fuel Demand for Dietary Supplements in Asia Pacific
Asia Pacific is expected to witness high demand during the forecast period owing to the requirement for vitamins, minerals, and multivitamin supplements. The common nutrient deficiencies found in growing children, pregnant women, and the elderly will spur demand for nutritional supplements and dietary vitamin supplements, which in turn will aid the market in Asia Pacific. North America generated a revenue of USD 11.41 billion in 2018 and in 2019 USD 11.95 billion. The growth witnessed in the region is attributed to the surge in the geriatric population and increasing preventative healthcare measures. In addition, the adoption of dietary supplements will support the dietary supplements market size.
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