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Market Overview
According to the report by Market Research
Future (MRFR), Health Supplements market is anticipated to reach USD15,190
Million by 2030 at 9.10% CAGR during the forecast period 2022-2030.
Health supplements are a diverse group of
products that consumed for the purpose of supplementing the diet as well as
enhancing health. Health supplements typically made up of ingredients derived
from natural sources. However they are not meant to prevent, cure, treat, or
alleviate the symptoms of medical diseases or conditions.
Drivers and Restraints
One primary factor that the growth of the health
supplements market Data could be chalked up to is the increased marketing
toward women by supplement manufacturers. Growing awareness regarding the
importance of taking preventative measures related to health, coupled with the
increasing size of the aging population worldwide is highly instrumental in the
growth of the health supplements market. Also, the continuously growing
influence of media advertising about pharmaceuticals along with the significant
advancements in the products are are having a tremendous influence on the health
supplements market.
While the market for health supplements is
experiencing positive growth, factors such as negative publicity and false
claims made by marketers and manufacturers could deter the said growth in
coming years.
Industry Trends
A key trend permeating the market for American
health supplements brand is the growing popularity of organic supplements.
Organic diets are outpacing regular food at a steady pace, with millennials
accounting for a sizeable portion of the consumers across the world. Hence, a
number of companies are now focusing on producing more organic certified
supplements to gain a competitive advantage in the health supplements
market.
Key Players
BASF SE (Germany), E. I. du Pont de Nemours
and Company (U.S.), Alticor Inc. (U.S.), The Nature's Bounty Co. (U.S.), Abbott
Laboratories (U.S.), Herbalife International (U.S.), GlaxoSmithKline Limited
(U.K), Bayer AG (Germany), Glanbia plc (Republic of Ireland), are few of the
players in the health supplements market.
Market Segmentation
The global health
supplements market Outlook is segmented on the basis of types, application,
ingredients and end user.
By type, the market is segmented into dietary
supplements, bodybuilding supplements, eye health supplements, specialty
supplements, and others. The market for dietary supplements is growing at a
health rate due to rising alertness regarding calorie reduction among athletes
and gym professionals, promoting the application movement, especially in sports
nutrition industry.
By application, the market is segmented
into cardiology, rheumatic disorders, allergy, and others.
Ingredients-wise, the market is segmented
into vitamins & minerals, amino acids, botanicals, enzymes, and
others. Growing consumer awareness about the importance of vitamins &
minerals, amino acids, botanicals, enzymes, as well as other components present
in health supplements is expected to bolster the development of all these
segments during the forecasted period.
Based on end-user, the market is segmented
into hospitals, clinics, research centers, and other.
Regional Analysis
The Americas is leading the global health
supplements market backed by the strong presence of major players in the
region, who are introducing quality products that capture maximum market share.
Also, the government support for research & development along with the
availability of funds for research is fostering the health supplements market
as well. Countries such as the United States (U.S) and Canada are increasing
their investments in the healthcare sector, thereby, propelling the overall
growth of the health supplements market in the region.
It is predicted that Europe is holding the
second position in the global health supplements market owing to the
availability of advanced products, growing awareness about the benefits of
health supplements, high health care spending, and strong government support
for research & development. Apart from this, increased R&D activities
coupled with the concentration of major companies is proving to be highly
beneficial for the growth of the health supplement market in the region.
About US:
Market Research Future (MRFR), enable customers to
unravel the complexity of various industries through Cooked Research Report
(CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R),
Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Overview
According to the report by Market Research Future (MRFR), the global health supplements market is expected to surge at a CAGR of 7.8% during the forecast period (2017-2023).
Health supplements are a diverse group of products that consumed for the purpose of supplementing the diet as well as enhancing health. Health supplements typically made up of ingredients derived from natural sources. However they are not meant to prevent, cure, treat, or alleviate the symptoms of medical diseases or conditions.
Drivers and Restraints
One primary factor that the growth of the health supplements market could be chalked up to is the increased marketing toward women by supplement manufacturers. Growing awareness regarding the importance of taking preventative measures related to health, coupled with the increasing size of the aging population worldwide is highly instrumental in the growth of the health supplements market. Also, the continuously growing influence of media advertising about pharmaceuticals along with the significant advancements in the products are are having a tremendous influence on the health supplements market.
Industry Trends
A key trend permeating the market for American health supplements brand is the growing popularity of organic supplements. Organic diets are outpacing regular food at a steady pace, with millennials accounting for a sizeable portion of the consumers across the world. Hence, a number of companies are now focusing on producing more organic certified supplements to gain a competitive advantage in the health supplements market.
Key Players
BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), Alticor Inc. (U.S.), The Nature's Bounty Co. (U.S.), Abbott Laboratories (U.S.), Herbalife International (U.S.), GlaxoSmithKline Limited (U.K), Bayer AG (Germany), Glanbia plc (Republic of Ireland), are few of the players in the health supplements market.
Market Segmentation
The global market for health supplements is segmented on the basis of types, application, ingredients and end user.
By type, the market is segmented into dietary supplements, bodybuilding supplements, eye health supplements, specialty supplements, and others. The market for dietary supplements is growing at a health rate due to rising alertness regarding calorie reduction among athletes and gym professionals, promoting the application movement, especially in sports nutrition industry.
By application, the market is segmented into cardiology, rheumatic disorders, allergy, and others.
Regional Analysis
The Americas is leading the global health supplements market backed by the strong presence of major players in the region, who are introducing quality products that capture maximum market share. Also, the government support for research & development along with the availability of funds for research is fostering the health supplements market as well. Countries such as the United States (U.S) and Canada are increasing their investments in the healthcare sector, thereby, propelling the overall growth of the health supplements market in the region.
About US:
Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York,
New York 10013,
United States of America
The global healthcare supplements market is projected to grow steadily and generate incredible revenues over the forecast period of 2017-2023, reveals a research report by Market Research Future (MRFR). Prevalence of lifestyle diseases such as diabetes, obesity and cardiovascular disorders which leads to an adoption preventive healthcare approach which, in turn, results in increased demand for health supplements. The intake of health supplements is particularly prevalent among athletes who are primarily reliant upon health supplements to compensate for inadequate diet and meet the high demands of rigorous training. The culture of supplement use is growing considerably among the youth population due to growing consciousness to maintain fitness and desire to look good. Increasing awareness regarding the health benefits of health supplements coupled with easy availability in local shops and drug stores aid the growth of the market. Changing lifestyle and inclination towards natural supplements are expected to boost the market for health supplements.
The health supplement market faces a unique challenge from varying regulations and enforcement process across the globe. Regulations and enforcement practices pertaining to health supplements vary across nations, and products and ingredients often have to be tailored to facilitate sales. Lack of standardization in the market and sale of fake, unregistered and unapproved products i9s also a challenge to the growth of the industry.
Increased practice of self-diagnosis and self-medication coupled with the availability of active nutrition supplements over the counter has augmented the market growth. Additionally, the rise in geriatric population and adoption of preventive health care among them also spur the market growth. Rise in promotional activities through social media has been able to popularize health supplements and has driven the market. However, lack of awareness regarding dosage of supplements and health hazards associated with over or improper consumption of health supplements might limit the market growth.
Competitive Landscape
The global health supplements market is highly competitive. The entry of industry players into the market has intensified the competition, and the market players are implementing various strategies to capture a considerable share of the market. The key players functioning in the market include Herblife International (U.S.), E. I. du Pont de Nemours and Company (U.S.), Abbott Laboratories (U.S.), The Nature's Bounty Co. (U.S.), GlaxoSmithKline Limited (U.K), BASF SE (Germany), Glanbia plc (Republic of Ireland), Alticor Inc. (U.S.), Bayer AG (Germany).
Segmentation
The global health supplement market has been segmented based on type, application, ingredient, and end-user. By type, the market has been segmented into dietary supplements, bodybuilding supplements, eye health supplements, specialty supplements, and others. By application, the market has been segmented into cardiology, rheumatic disorders, allergy, and others. By ingredients, the market has been segmented into vitamins & minerals, amino acids, botanicals, enzymes, and others. By end-user, the market has been segmented into hospitals, clinics, research centers, and others.
Regional Analysis
The key markets of the global health supplement market include the Americas, Europe, Asia-Pacific and the Middle East & Africa. The Americas account for the most significant share of the market owing to the concentration of key players in the region coupled with the availability of funds for research and development due to government support. Increasing investment in healthcare is also supporting the growth of the market in the region. Europe is the second largest market for health supplements. High healthcare expenditure, government funding for R&D activities and presence of key players in the region can be attributed for the position. Asia-pacific market is projected to exhibit substantial growth over the forecast period owing to the availability of the massive patient pool, increasing healthcare spending and rising disposable income in emerging countries of the region. The Middle East &Africa market holds a small share of the market and is foreseen to progress slowing due to lack of awareness regarding healthcare and unavailability of funds.
About US:
Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
The global healthcare supplements market is projected to grow steadily and generate incredible revenues over the forecast period of 2017-2023, reveals a research report by Market Research Future (MRFR). Prevalence of lifestyle diseases such as diabetes, obesity and cardiovascular disorders which leads to an adoption preventive healthcare approach which, in turn, results in increased demand for health supplements. The intake of health supplements is particularly prevalent among athletes who are primarily reliant upon health supplements to compensate for inadequate diet and meet the high demands of rigorous training.
The health supplement market faces a unique challenge from varying regulations and enforcement process across the globe. Regulations and enforcement practices pertaining to health supplements vary across nations, and products and ingredients often have to be tailored to facilitate sales. Lack of standardization in the market and sale of fake, unregistered and unapproved products i9s also a challenge to the growth of the industry.
Increased practice of self-diagnosis and self-medication coupled with the availability of active nutrition supplements over the counter has augmented the market growth. Additionally, the rise in geriatric population and adoption of preventive health care among them also spur the market growth. Rise in promotional activities through social media has been able to popularize health supplements and has driven the market. However, lack of awareness regarding dosage of supplements and health hazards associated with over or improper consumption of health supplements might limit the market growth.
Competitive Landscape
The global health supplements market is highly competitive. The entry of industry players into the market has intensified the competition, and the market players are implementing various strategies to capture a considerable share of the market. The key players functioning in the market include Herblife International (U.S.), E. I. du Pont de Nemours and Company (U.S.), Abbott Laboratories (U.S.), The Nature's Bounty Co. (U.S.), GlaxoSmithKline Limited (U.K), BASF SE (Germany), Glanbia plc (Republic of Ireland), Alticor Inc. (U.S.), Bayer AG (Germany).
Segmentation
The global health supplement market has been segmented based on type, application, ingredient, and end-user. By type, the market has been segmented into dietary supplements, bodybuilding supplements, eye health supplements, specialty supplements, and others. By application, the market has been segmented into cardiology, rheumatic disorders, allergy, and others. By ingredients, the market has been segmented into vitamins & minerals, amino acids, botanicals, enzymes, and others. By end-user, the market has been segmented into hospitals, clinics, research centers, and others.
Regional Analysis
The key markets of the global health supplement market include the Americas, Europe, Asia-Pacific and the Middle East & Africa. The Americas account for the most significant share of the market owing to the concentration of key players in the region coupled with the availability of funds for research and development due to government support. Increasing investment in healthcare is also supporting the growth of the market in the region. Europe is the second largest market for health supplements. High healthcare expenditure, government funding for R&D activities and presence of key players in the region can be attributed for the position. Asia-pacific market is projected to exhibit substantial growth over the forecast period owing to the availability of the massive patient pool, increasing healthcare spending and rising disposable income in emerging countries of the region. The Middle East &Africa market holds a small share of the market and is foreseen to progress slowing due to lack of awareness regarding healthcare and unavailability of funds.
About US:
Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York,
New York 10013,
United States of America
