The global dietary supplements market is anticipated to secure a market value of US$D 163 Billion in 2022 and reach US$ 351 Billion by 2032.
In 2021, it is predicted that the global market for dietary supplements would have grown significantly, reaching roughly US$ 160 billion. The market’s expansion can be ascribed to two factors: rising disposable income and rising health consciousness. When the COVID-19 pandemic was at its worst, sales of many dietary supplement categories rose as consumers turned their attention to boosting their immunity out of fear of getting diseases. In the post-pandemic era, this tendency of higher consumption is anticipated to continue.
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The readability score of the Dietary Supplements Market Demand report is good as it offers chapter-wise layout with each section divided into a smaller sections.
The report encompasses graphs and tables to show the entire assembling. Pictorial demonstration of the definite and estimated values of key segments is visually appealing to readers.
This Dietary Supplements market outlook report explicates on vital dynamics such as the drivers, restraints and opportunities for key players and competitive analysis of Dietary Supplements along with key stakeholders as well as emerging players associated with the manufacturing of product.
Competitive landscape:
The players of the global dietary supplement market adopt various strategies to enhance their market reach. Some of the most adopted strategies are acquisition, partnerships, and collaborations. Vendors also make a significant investment in the R&D of the product to secure their forefront position in the global market.
- In March 2021, Zomato disclosed its own range of functional foods, such as dietary supplements in the coming time.
- In September 2020, Prorganiq, a known entity of natural and organic supplements, disclosed the release of their ’24-in-1 Mega Superfoods’. The new product has a promising formula of 24 different green veggies, herbs, and fruits. 24-in-1 Mega Superfoods is a plant-based dietary supplement that is GMO and Gluten-free.
What are the factors impeding the Market Growth?
High Costs of Raw Materials to Hinder the Market Expansion
The high costs of raw materials are likely to be the key factor impeding the market growth during the forecast period. Since small and medium-scale players make a very handful of investments, withstanding a high cost of labor becomes a challenge.
Procurement of raw material and labor are the two major challenges faced by the manufacturers. Further, the availability of counterfeit products can impede the market in the coming time. In addition, the outbreak of COVID-19 affected the supply and distribution channel owing to the imposition of global lockdown.
Key Market Segments Covered in the Global Dietary Supplements Market:
· By Ingredient :
- Vitamins
- Botanicals
- Minerals
- Proteins & Amino Acids
- Fibers & Specialty Carbohydrates
- Omega Fatty Acids
- Others
· By Form :
- Tablets
- Capsules
- Supplements
- Powders
- Gummies
- Liquids
- Other Dietary Supplement Forms
· By Application :
- Energy & Weight Management
- General Health
- Bone & Joint Health
- Gastrointestinal Health
- Immunity
- Cardiac Health
- Diabetes
- Anti-Cancer Applications
- Lungs Detox/Cleanse
- Skin/Hair/Nails
- Sexual Health
- Brain/Mental Health
- Insomnia
- Menopause
- Anti-Aging
- Prenatal Health
- Other Applications
· By End User :
- Adult Dietary Supplements
- Geriatric Dietary Supplements
- Dietary Supplements for Pregnant Women
- Dietary Supplements for Children
- Dietary Supplements for Infants
· By Type :
- OTC Dietary Supplements
- Prescribed Dietary Supplements
· By Distribution Channel :
- Offline Dietary Supplements Sales
- Hypermarkets/Supermarkets
- Pharmacies
- Specialty Stores
- Practitioners
- Others
- Online Dietary Supplements Sales
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Questionnaire answered in the Market outlook Report of Dietary Supplements include:
- What is the key strategy deployed by large players to maximize Dietary Supplements Market growth?
- What are the main challenges faced by players in the Dietary Supplements market Demand?
- With the advent of technological advancement, how will the Dietary Supplements market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Dietary Supplements market size?
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