Introduction
Many of the ingredients that are currently sold as dietary supplements fall into the following categories: vitamins, minerals, herbs or other botanicals, amino acids, products derived from animals, hormones and hormone analogs, and enzymes, as well as concentrates, metabolites, constituents, or extracts of these. Products can fall into one of three categories: mixes with all or some known components, mixtures with unknown chemical components, or pure single entities with known or unknown chemical constituents.
Definition
Dietary supplements are goods that come in tablet form and are taken by people to enhance their diets. Dietary supplements are not prescription drugs that can be used to treat illnesses or other conditions. They are full of nutritional components that can be obtained from synthetic sources or from plant sources.
The main drivers of the market’s expansion are an increase in consumer awareness of the benefits of dietary supplements and rising personal disposable income. Increasing research and development efforts by big corporations, particularly in emerging nations, a changing lifestyle, westernization, and an increase in worldwide involvement in all sports are all factors that affect market growth. Improved distribution channels, an increase in sports facilities and gyms, increased consumer interest in a healthy diet, an increase in the prevalence of obesity, a rise in consumer health consciousness, and shifting consumer tastes and preferences will all contribute to market value growth.
There are several factors that are contributing to the growth of the dietary supplements market. Some of the key drivers include:
- Raising consciousness of the need of keeping a healthy diet and way of life
- Increasing rates of obesity, diabetes, and heart disease among chronic illnesses
- Rising interest in natural and organic goods
- Demand for protein-based supplements is rising.
- Innovation and technological advancements in the manufacture of dietary supplements
Market growth in dietary supplements market
- According to Data Bridge Market Research, the global dietary supplements market is expected to grow at a CAGR of 8.72% between 2022 and 2029. The primary drivers of the growth of the dietary supplements market include the expansion and growth of the food and beverage industries, a growing emphasis on food and beverage innovations, rising consumer awareness of supplements that support good health, and rising prevalence of chronic diseases and disorders like diabetes and high blood pressure.
- Dietary supplements are items that may be taken orally and have at least one nutritional component. If someone doesn’t eat a diet that is appropriately nutrient-dense, they help get vital nutrients into the body. They are available as pills, gummies, capsules, powders, energy beverages, and energy bars, among other forms. The obesity and overweight epidemics have rocked the world’s dietary supplement business with the onset of the pandemic. People’s need to ingest these pills for rapid and simple weight loss has increased as a result.
Trends of dietary supplements market
Not every dietary supplement has proof of effectiveness. Many items that fall under the category of dietary supplements, such as those used to treat vitamin and mineral deficiency disorders and as supplements during pregnancy, are crucial components of patient treatment. In contrast, “many items with medical advantages are frequently misused among the general population in an effort to enhance or maintain health and usage in this way delivers little benefit” or even poses hazards.
Growing support for nursing over dietary supplements will be a significant obstacle to the market’s expansion. The market’s potential for expansion will be further constrained by fluctuations in raw material costs and supply chain interruptions brought on by the epidemic. The market growth rate will also be hampered by consumer resistance to the use of dietary supplements, adverse effects from excessive intake, high prices for these goods, and increases in the price of R&D activities.
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Scope in dietary supplements market
The dietary supplements market is divided into segments based on product type, application method, function, and category. The variation in your target markets and the growth among segments help you identify your primary application areas as well as unique growth pockets and marketing methods.
- The market for dietary supplements is divided into categories based on kind, including vitamins, minerals, amino acids, enzymes, and miscellaneous supplements.
- The market for dietary supplements is divided into categories based on how they are used, including capsules, powder, liquids, soft gels, and gel caps.
- The dietary supplement industry is divided into three categories based on their intended uses: additional supplements, therapeutic supplements, and sports nutrition.
- The dietary supplements market is divided into segments based on category: baby dietary supplements, children dietary supplements, adult dietary supplements, dietary supplements for pregnant women, and dietary supplements for the elderly.
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