The Upward Trend in the Dietary Supplement Sector is Fueled by Rising Consumer Awareness of Personal Health, says Market.us
The food and nutrition industries have developed to serve clients better and compensate for dietary loss thru supplemental nutrients.
Over the projected period, increasing consumer understanding of their own well-being and good health is anticipated to be a major market driver for dietary supplements. The world’s working population struggles to consume enough dairy products because of busy schedules and changing lifestyles. The industry is poised to rely heavily on supplements to meet nutritional needs due to their high level of convenience.
Additionally, over the forecast period, strict rules governing the health benefits claim and product labeling are anticipated to present difficulties for dietary supplements.
According to research by Market.us,” The size of the global market for dietary supplements was estimated at USD 148.8 billion in 2021, and it is anticipated to increase at a CAGR of 9.2% from 2022 to 2032. It is estimated to reach USD 391.79 billion during the forecast period.”
Anurag Sharma, a senior research analyst at Market.us, said, “Over the forecast period, rising consumer awareness of personal health and wellbeing is anticipated to fuel demand for dietary supplements such as minerals, vitamins, protein and amino acids, and omega fatty acids.”
Adults must use more dietary supplements due to changing lifestyles and busy work schedules, causing nutritional inadequacies. Also, growing knowledge of children’s and infants’ nutritional needs is anticipated to increase the demand for dietary supplements.
There will likely be a growth in energy and weight control demand as more health clubs, gyms, and fitness centers are available, along with a rise in youth fitness awareness. The market for dietary supplements will profit from the growing acceptability of sports as a career by increasing demand for sports nutrition.
In Asia Pacific, supermarkets and hypermarkets are predicted to grow significantly, with Vietnam, India, and the Philippines experiencing the highest CAGRs over the projected period, according to a report released by Food Industry Asia in 2020.
By 2032, the region is anticipated to have the largest market for dietary supplements due to the region’s expanding consumer base, which includes China, South Korea, India, and other nations. The Asia Pacific market is expected to have substantial revenue growth during the projected period.
The demand for dietary supplements is anticipated to increase over the projected period due to new product introductions raising awareness about supplement product consumption in Mexico.
With a 35.2% sales share in 2022, North America ruled the market for dietary supplements. Because foods with a high nutritional value but fewer calories are becoming more and more popular, a CAGR of 6.1% is predicted over the entire projection period.
Due to the larger spending power of the population, the U.S. became the region’s largest market for dietary supplements in North America. Over the course of the projected period, the market expansion is anticipated to be aided by rising healthcare spending, an aging population, rising interest in preventative healthcare, and increased interest in achieving wellness via nutrition.
The botanical segment of the market for dietary supplements is projected to develop at the largest CAGR.
The tablet market is predicted to develop at the highest rate over the forecasted period, depending on the method of execution.
During the projection period, it is anticipated that the extra supplement category would hold the biggest market share in the dietary supplement market.
According to the target consumer, it is predicted that the adult segment will have the quickest market expansion rate in the dietary supplements market throughout the projection period.
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