New York
City, 19 January 2019: The Report Dietary Supplements Market is anticipated to reach over USD
349.4 billion by 2026. In 2017, the vitamins segment dominated the global
market, in terms of revenue. Asia-Pacific is expected to be the leading
contributor to the global market revenue during the forecast period.
A significant increase in the obese
population, changing lifestyles, and initiatives and funding by governments to
promote healthy lifestyles primarily drive the growth of this market.
Other driving factors include increasing diseases associated with obesity,
increasing disposable income, and increasing awareness regarding health and
nutrition. The increase in obesity related diseases such as diabetes and
hypertension along with sedentary lifestyles of consumers further propel the
adoption of dietary supplements. The number of memberships for health clubs and
gyms has increased significantly over the years, further promoting the growth
of dietary supplements. Increasing demand in developing nations is expected
provide numerous growth opportunities to the market players during the forecast
period.
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There has been a significant increase
in obesity across the world. In 2015, 2.2 billion people, including children
and adults, were reported to be obese. A significant increase in child obesity
has also been registered over the past years. The highest level of obese child
and young population has been reported in the U.S. while the highest adult obesity
has been reported in Egypt. Obese people have greater chances of acquiring
obesity related diseases such as Diabetes and cardiovascular diseases. These
increasing concerns about healthy living coupled with increasing awareness
regarding proper nutrition have encouraged consumers to adopt dietary
supplements, thereby promoting the growth of the market.
Improvement in lifestyle due to rise in
income level, especially in the developing countries of Asia-Pacific fuels the
demand for dietary supplements market. Factors such as increase in per capita
income and changes in consumer behavior towards nutrition and healthy eating
habits are expected to accelerate the adoption of dietary supplements in the
coming years.
Competitive Landscape and Key Vendors:
Asia-Pacific generated the highest
revenue in the market in 2017, and is expected to lead the global market
throughout the forecast period. The high geriatric population in the region
coupled with increasing disposable income drives the market growth. The
sedentary lifestyle of consumers in the region has encouraged them to adopt
dietary supplements to stay healthy and acquire proper nutrition. Increasing
disposable incomes in developing countries of this region, rising awareness
about health benefits of dietary supplements, and growing presence of
fitness centres further foster the growth in this region.
The well-known companies profiled in
the report include Abott Laboratories, GlaxoSmithKline, Herbalife
International, Bayer AG, Pfizer Inc., Nutraceutics Inc., Glanbia Nutritionals,
Amway, Carlyle Group, Arkopharma Laboratoires Pharmaceutiques, Bionova
Lifesciences, and Danisco A/S among others. These companies launch new products
and collaborate with other market leaders to innovate and launch new products
to meet the increasing needs and requirements of consumers.
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