The increasing customer awareness account to personal health and welfare is expected to be a key factor driving the market for dietary supplements over the upcoming years
JERSEY CITY, N.J., Nov. 2, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Dietary Supplement Market" By Ingredient (Botanicals, Minerals, Vitamins), By Product (Tablets, Capsules, Powder), By Application (Additional Supplements, Medicinal Supplements, Sports Supplements), By Distribution Channel (Pharmacies & Drug Stores, Supermarkets & Hypermarkets, Online Channels), and By Geography. According to Verified Market Research, the Global Dietary Supplement Market size was valued at USD 124.29 Billion in 2020 and is projected to reach USD 210.32 Billion by 2028, growing at a CAGR of 7.49% from 2021 to 2028.
The dietary supplements market in Japan is expected to grow rapidly during the forecast period, due to a rise in chronic heart failure cases in the country. Overweight, vitamin, and mineral deficiencies are the main causes of cardiovascular disease in the country. According to the Centers for Disease Control and Prevention (CDC), 1 to 2 million patients are diagnosed with coronary heart failure each year, with nearly 170,000 of these patients causing the death of heart disease.
Moreover, cardiovascular disease is on the rise as a result of the western influence of lifestyle, an aging population, and poor dietary habits. In addition, Japan's growing geriatric population has boosted the demand for dietary supplements. Due to the impact of COVID-19, highly grown in the product of digestive, and immune health, which is positively impacted the market. All through many supplements include protein, vitamins, omega-3 fatty acids, and other variety of supplements. Besides, many industries launched various kinds of supplement products.
Moreover, increasing demand across with maintaining safety norms the industries have been mainly focusing on improving their sales by encouraging their customers to buy online. Besides, increasing healthcare product expenses, a growing geriatric population, and a growing interest in healthcare and gaining wellness through diet are expected to drive market growth during the forecast period. An increase in the number of fitness centers, health clubs, and gymnasiums, combined with growing fitness awareness by many young people, is expected to increase demand for energy and weight management.
In the COVID times, the demand for the IVA in the healthcare sector has surged this factor is anticipated to drive market growth. The Intelligent Virtual Assistants (IVAs) helps by providing relevant information to the customers and also actionable advice. For organizations, the IVA inputs help them in designing and developing different pricing as well as marketing strategies obtained from real-time data analysis. Due to this, the demand for IVA is on rising.
The major players in the market are Pfizer Inc., Amway (Nutrilite), Bayer AG, Abbott Laboratories, GlaxoSmithKline, Arkopharma Laboratoires Pharmaceutiques, Glanbia, Carlyle Group, Archer Daniels Midland, and Herbalife International.
Verified Market Research has segmented the Global Dietary Supplement Market On the basis of Ingredient, Product, Application, Distribution Channel, and Geography.
Dietary Supplement Market, By Ingredient
Proteins & Amino Acids
Dietary Supplement Market, By Product
Dietary Supplement Market, By Application
Dietary Supplement Market, By Distribution Channel
CoQ10 Supplement Market By Type (Soft Capsule, Chewable Tablets), By Application (Middle Aged, Elderly, Young People, Child), By Geography, Forecast, 2021-2028
Functional Proteins Market By Product (Hydrolysates, Whey Protein Concentrates, and Whey Protein Isolates), By Application (Functional Foods, Functional Beverages, Dietary Supplements, and Animal Nutrition), By Geography, Forecast, 2021-2028
Primary Cell Culture Market By Product (Primary Cell, Reagents and Supplements, and Media), By Application (Vaccine Production, Stem Cell Therapy, Cancer Research), By Cell Type (Animal Cells and Human Cells), By Geography, Forecast, 2021-2028
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