The global dietary supplements market is expected to reach
USD 278.02 billion by 2024, according to a new report by Grand View Research,
Inc. Favorable outlook towards medical nutrition market in light of increasing
application for the treatment of malnutrition and cardiovascular disorders is
likely to promote the market for dietary supplements.
Rising sales of sports nutrition
products in the U.S. and China on account of increasing prevalence of fitness
and sports at a domestic level along with new product launches is likely to
have a significant impact on the industry over the projected period. The market
is expected to generate revenues worth USD 37.16 billion by 2024.
Rising consumption of clinical
nutrition products as a prevention medium for reducing malnutrition is expected
to have a substantial impact. Furthermore, increasing prevalence of premature
births on a global level is expected to promote the use of medicinal
supplements over the forecast period. The market was worth USD 19.17 billion in
2015 and is projected to witness growth at a CAGR of 9.5% from 2016 to 2024.
U.S. dietary supplements market revenue, by end-use, 2013
- 2024 (USD Million)
Browse full research report on Dietary
Supplements Market
- The market
for dietary supplement capsules was valued at USD 26.42 billion in 2015.
The increasing use of omega-3 fatty acids in the formulation of dietary
supplement capsules is expected to have a positive impact over the
forecast period.
- Amino
acid-based dietary supplements accounted for 14.3% of the market share in
2015 and is projected to witness significant growth on account of
increasing protein intake by bodybuilders and sports athletes
- Gel caps and
soft gels together accounted for 13.2% of the overall market in 2015.
These products are expected to witness growth on account of their
increasing application in confectionaries including chocolates, candies,
and desserts.
- Asia Pacific
is projected to growth at a CAGR of 11.2% from 2016 to 2024. Rising sales
of green juice, royal jelly, blueberries, chlorella, and black vinegar in
Japan owing to increasing awareness towards natural products is expected
to promote the use of nutritional supplements over the forecast period.
- North America
accounted for 28.5% of the total market in 2015 and is projected to
witness growth on account of increasing consumption of products with
reduced calorie level and high nutritional content
- Key
participants include Amway Corporation, Pfizer Pharmaceuticals, Abbott
Laboratories, Herbalife International, ADM, DuPont, and Carlyle Group. In
April 2016, Amway Inc. launched a new sports nutrition energy drink under
the brand name, XS Sports Nutrition line. This type of product innovation
is expected to force manufacturers to develop new products over the next
eight years.
For more information: http://www.grandviewresearch.com
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