Dietary Supplements Market Outlook
Dietary Supplements Market is expected to register a CAGR of 6.85% and reach USD 158,468.7 Million by 2025. The global Market was valued at $136.2 billion in 2020. Dietary supplements are products with essential vitamins, minerals, nutrients, amino acids, botanical extracts, and enzymes to support good health. The demand for dietary supplements is increasing with the increasing health concerns of people. An increasing number of global sporting events focusing on improving physical strength and a rising number of gyms, health clubs, fitness centers are expected to increase the dietary supplement demand in the forecast period.
The global dietary supplements market size within the age of personalized nutrition market size are expected to grow at a CAGR of 6.90% during the forecast period. The change in dietary habits of consumers is one among the main drivers of the market. the massive geriatric populace with its susceptibility to chronic diseases is predicted to be one among the most important consumer bases for the market. consistent with the WHO, the elderly population numbers can exceed quite 2 billion by 2050. this will cause an enormous strain to healthcare expenditure of countries . Dietary supplements can play its role in strengthening the system and keeping diseases its bay.
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The health-consciousness wave among teens, adults, and other demographics can be lucrative for the market in the coming years. The hectic work schedules of consumers have led to the formulation of supplements in digestible forms. For instance, awareness of weight loss programs has led to customers in India and China has increased the protein intake in this region. Brand campaigns aimed at customers will create awareness among the masses and encourage supplementary intake.
Dietary Supplements Market Regional Analysis
The global dietary supplements market size in the age of personalized nutrition market covers regions of Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas are predicted to dominate the global market till 2023 owing to high awareness levels among customers. Thorough testing of vitamin levels to comprehend nutrient deficiencies within patients is one of the biggest drivers which can propel the growth of personalized medicine. The focus on cellular health can lead to investment in research and development which can target on specific nutrient levels is expected to further the global dietary supplements in personalized medicine market.
APAC is anticipated to display a CAGR of 7.55% during the forecast period owing to the large healthcare expenditure of nations and the increasing numbers of the geriatric populace. High birth rates and cases of malnutrition can spike the need for dietary supplements till 2023.
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Dietary Supplements Market Segmentation
The global dietary supplements in the age of personalized nutrition market report have segmented its content by product category, application, gender, dosage form and end user.
By product category, it is segmented into herbs & botanicals, vitamins, minerals, sports supplements, meal supplements, and others.
Applications of dietary supplements market size include genetic predispositions, lifestyle diseases, inherited diseases, and others.
By gender, it is segmented into 2 main categories – female and male. Female and male is further segmented into various age groups, namely, 55 + age group, 35-54 age group, 19-34 age group, and 0-18 age group.
Based on the dosage form, it is segmented into tablets, capsules, powder, liquids, soft gels and others.
Major end users are home care, hospitals & clinics, and others.
Dietary Supplements Market Competitive Outlook
Carlyle Group, GlaxoSmithKline plc, Bactolac Pharmaceutical Inc., Pfizer Inc., Glanbia, Archer Daniels Midland, Danisco, Danone Nutricia, Natures Product Inc., Herbalife International, Balchem Corporation, Bayer AG, Abbott Laboratories, Amway (Nutrilite), Nestlé Health Science, and others are key players of the global dietary supplements in the age of personalized medicine market.
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