US Dietary supplements Market Analysis
The US dietary supplements market size is predicted to grow at a 7.95% CAGR between 2017-2023, reveals the latest Market Research Future (MRFR) report. Dietary supplements, simply put, are products that are intended to supplement the diet, which comprises of one or above of these dietary ingredients- herbs, amino acids, minerals, vitamins, or other botanicals. Dietary supplements can be consumed in any of the following forms, such as liquids, powder, capsules, tablets, and others, for enhancing the immune function and getting adequate nutrients.
Various factors are propelling the U. S. dietary supplements market growth. These factors, as stated by the latest Market Research Future (MRFR) report, include increasing sales owing to stress level and hectic routines of consumers that has led to an increase in various lifestyle diseases especially diabetes, blood pressure, and obesity, changing diets and lifestyles, rising health concerns, positive outlook for sports nutrition, increasing number of sports events worldwide, and rise in the number of gymnasiums and sports complex. Additional factors pushing market growth include rising disposable income, rapid urbanization, favorable outlook towards medical nutrition owing to high prevalence of heart diseases as well as weight management programs, growing awareness about preventive healthcare, and rapidly increasing geriatric populace. Besides, the massive impact of advertisement and mass media communication and the introduction of new dietary supplement products are also adding to the market growth.
On the flip side, growing demand for organic food, safety concerns of such supplements, and availability of misbranded and spurious products are factors that may impede the U. S. dietary supplements market growth over the forecast period.
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US Dietary supplements Market Segmentation
The MRFR report provides an all-inclusive segmental analysis of the U. S. dietary supplements market on the basis of end user, dosage form, gender, application, and product category.
Based on the product category, the U. S. dietary supplements market is segmented into minerals, meal supplements, sports supplements, herbs and botanicals, vitamins, and others. Of these, the vitamin segment will have the largest share in the market over the forecast period. It is largely used for making dietary supplements as it is easily excreted by the kidneys. Vitamins find more applications among sports athletes and working professionals in the form of liquids, powders, and multivitamin tablets.
Based on the application, the U. S. dietary supplements market is segmented into genetic predispositions, inherited diseases, lifestyle diseases, and others.
Based on gender, the U. S. dietary supplements market is segmented into males and females. The male and female segment is again segmented into different age groups- 0-18 age group, 19-34 age group, 35-54 age group, and 55+ age group.
Based on dosage form, the U. S. dietary supplements market is segmented into soft gels, liquids, powder, capsules, tablets, and others.
Based on the end user, the U. S. dietary supplements market is segmented into home care, hospitals and clinics, and others.
US Dietary supplements Market Regional Analysis
By region, the US dietary supplements market report covers the latest trends and growth opportunities across West, Midwest, Northeast, and South. The dietary supplements market in the US is amid the fastest growing industries. Factors aiding market growth here include rising income, consumerism, and GDP, increasing urbanization, aging population, increasing awareness as well as the prevalence of lifestyle-related diseases, and growing demand for health & wellness products. The aging baby boomer populace is predicted to be the drivers of this product owing to their huge numbers coupled with spending power that is likely to shift expenditure in healthcare, especially towards dietary supplements.
US Dietary supplements Market Key Players
Major players profiled in the US dietary supplements market report include Bactolac Pharmaceutical Inc., Natures Product Inc., Balchem Corporation, Pfizer Inc., GlaxoSmithKline Plc., Bayer AG, Glanbia, Danisco, Amway, Herbalife International, Abbott Laboratories, Archer Daniels Midland, Amway (Nutrilite), Carlyle Group, Danone Nutricia, and Nestlé Health Science.
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US Dietary supplements Industry News
October 2019: Nestle has recently acquired Persona, the personalized vitamin program that is delivered right away to the customers’ doors. The category includes dietary supplements, wellness products, functional foods, and nutraceuticals that will help in the overall performance and well-being.