In the world economic growth, the Dietary Supplement industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Dietary Supplement market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2019, SMI analysts believe that in the next few years, Dietary Supplement market size will be further expanded, we expect that by 2024, The market size of the Dietary Supplement will reach XXX million $.
A dietary supplement is generally a manufactured commercial product intended to augment one's daily diet by ingesting a pill, capsule, or tablet. A dietary supplement may provide essential nutrients either naturally extracted from plant sources or which are synthetic to increase the amount of the daily intake. The most common dietary supplements contain vitamins, minerals, and herbs that have been standardized for the purposes of usage in promoting nutrition. A wide variety of dietary supplements can be found in health food stores, pharmacies, and online dietary supplement companies.
Market Dynamics
Launch of new products is expected to propel the growth of the global dietary supplements market over the forecast period. For instance, in September 2021, SIREN Living announced to launch its dietary supplements portfolio for women in the U.S.
Emergence of Covid-19 and the resultant increase in health awareness is expected to offer lucrative growth opportunities for players in the global dietary supplements market. For instance, globally, as of 5:54 pm CEST, 1 October 2021, there have been 233,503,524 confirmed cases of COVID-19, including 4,777,503 deaths, reported to WHO.
Sell of unapproved products is a major challenge in the global dietary supplements market. For instance, in September 2021, the U.S. Food and Drug Administration and the Federal Trade Commission warned 10 companies for illegally selling dietary supplements that claim to cure, treat, mitigate, or prevent diabetes, in violation of the Federal Food, Drug, and Cosmetic Act.
Moreover, a lack of research and credibility is expected to limit the growth of the market. For instance, in March 2021, BBB National Programs announced that FertilitySmart, a fertility supplement company, permanently discontinued seven advertising claims and several consumer testimonials in response to a challenge brought by the dietary supplement association the Council for Responsible Nutrition.
Key Takeaways
- Launch of new products is expected to propel the growth of the global dietary supplements market over the forecast period
- Presence of toxic levels of the mineral selenium in dietary supplements is expected to limit the growth of the market. For instance, in September 2021, The U.S. Food and Drug Administration noticed up to 200 times the label level of selenium in dietary supplements Total Body Formula and Total Body Mega Formula.
- Major players global dietary supplements market is focused on launching new products to expand their product portfolio. For instance, in September 2021, Hims & Hers launched a dietary supplement powder to support urinary tract health.
- Major players global dietary supplements market include Pfizer, Inc., Amway, Suntory, Glanbia, GSK, Abbott Laboratories, Herbalife, Reckitt Benckiser, Bayer Corporation, Blackmores, Otsuka, GNC, Sanofi, Merck, Hims & Hers, Nature's Bounty, and Miki
This Report covers the manufacturers' data, including: shipment, price, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size, volume, and value, as well as price data.
Besides, the report also covers segment data, including: type segment, industry segment, channel segment etc. cover different segment market size, both volume and value. Also cover different industries clients information, which is very important for the manufacturers. If you need more information, please contact SMI
Section 1: Definition
Section (2 3): Manufacturer Detail
Pfizer
Amway
Suntory
Glanbia
GSK
Abbott
Herbalife
Reckitt Benckiser
Bayer
Blackmores
Otsuka
GNC
Sanofi
Merck
Nature's Bounty
Miki
Section 4: Region Segmentation
North America Country (United States, Canada)
South America
Asia Country (China, Japan, India, Korea)
Europe Country (Germany, UK, France, Italy)
Other Countries (Middle East, Africa, GCC)
Section (5 6 7):
Product Type Segmentation
Vitamin
Mineral
Botanical
Enzyme
Fatty Acid
Industry Segmentation
Adult
Infant
Children
Pregnant Women
Elderly
Channel (Direct Sales, Distributor) Segmentation
Section 8: Trend (2019-2024)
Section 9: Product Type Detail
Section 10: Downstream Consumer
Section 11: Cost Structure
Section 12: Conclusion
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