NEW YORK, Sept. 17, 2018 (GLOBE NEWSWIRE) -- The global dietary supplements market is expected to witness a CAGR of 9.3%, and is projected to reach USD 259.5 billion by 2024. The growth in the dietary supplements market is attributed to the growing awareness about the health benefits of dietary supplements across the globe. Moreover, increased availability of new dietary supplements in the market is also expected to drive the growth during the forecast period.
Dietary supplements are used to supplement daily nutrition with some dietary ingredients. These dietary ingredients include vitamins, minerals, proteins, omega fatty acids, amino acids and enzymes. Dietary supplements are taken orally in the form of tablets, capsules, powder, gels, liquid and others. Dietary supplements may be classified as food, drug, or others, depending on the claims.
High preference for organic dietary supplements across the globe
The organic products hold the major share of the dietary supplements market, owing to the high preference for natural and clean label products. The sales of organic dietary supplements has increased considerably over the years. The organic supplements are made from natural ingredients resulting in minimal side effects. Key players in the dietary supplements market are constantly expanding their product lines of organic certified products to meet the increasing demand.
Dietary Supplements Market - Regional insight
Geographically, Asia-Pacific held the major share of the dietary supplements market in 2017 and is expected to grow at the highest CAGR during the forecast period. The growth in the region is led by China and India, mainly due to increasing disposable income and growing awareness regarding the benefits of dietary supplements. The North American dietary supplements market is projected to show a significant growth rate during the forecast period. The growth in the North American region is mainly due to high adoption rate of dietary supplements among millennial consumers and young adults.
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Key findings from the report:
- On the basis of Ingredients,
- The vitamins segment holds the major market share in 2017 and is expected to retain its dominance during the forecast period
- On the Basis of Product form
- The tablets segment held the major share of the dietary supplements market in 2017
- On the Basis of Region
- Asia-Pacific held the major share of the dietary supplements market in 2017 and is expected to grow at the highest CAGR during the forecast period
- The key players dealing in dietary supplements sector are BASF SE; Amway Corporation; Abbott Laboratories; GlaxoSmithKline Limited, Archer Daniels Midland Company; Glanbia plc; Arkopharma Laboratoires; Bayer; Koninklijke DSM N.V. among others
- Nestle acquired canadian nutritional health product maker Atrium Innovations, for $ 2.3 billion
By Ingredient
- Vitamins
- Minerals
- Botanicals
- Amino Acids
- Others
By Product Form
- Tablets
- Capsules
- Powders
- Gels
- Liquid
- Others
By Distribution Channel
- Supermarkets/Hypermarkets
- Direct Sellers
- Chemists/Pharmacies
- Internet Retailers
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Central & South America
- Middle East & Africa(MEA)
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