Global Dietary Supplements Market Will Reach USD 216.3 Billion By 2026: Reports and Data
Market Size – USD 140.1 Billion in 2018, Market Growth - CAGR of 5.5%, Market Trends – New product launches and preventive health management by consumers
By: Reports And Data
The growth exhibited by the global dietary supplements market is a result of various factors such as the developing economies and subsequently increasing income of consumers, rising awareness about nutrition, hectic lifestyle, increasing geriatric population, and spread of chronic ailments. The wide adoption of e- commerce and m-commerce platforms are expected to be crucial factors that will spur a shift in positive direction for this industry. Due to the nature of dietary supplements, the industry has already seen greater adoption of e-commerce purchases than other consumer goods industries, with global sales of vitamins and dietary supplements via internet retailing reaching 14% in 2016 compared to 9% for consumer health as a whole and just 2% for packaged food.
With an increase in the aging populations in high-income economies such as the U.S., the U.K., Germany, and Japan, more and more people are looking for preventive healthcare management, to keep diseases at bay. Good health is not just a goal for the consumers; it has become a lifestyle choice for many them. Apart from this, massive impact of mass media communications & advertisement witnessed in the pharmaceutical & retail sectors is expected to generate lucrative demands for the Dietary Supplements. In addition, factors such as self-medication in cases of minor health issues, cost-effectiveness, and convenience of direct purchase are anticipated to drive the adoption and acceptance of dietary supplements over the forecast period. Strong growth in sports nutrition segment, increased use of supplements for weight reduction, and increasing discounts on e-commerce sites are also driving this market.
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