Persistence Market Research
The increase in consumer interest in a healthy diet has led to higher consumption of food and food ingredients with potential health benefits. Of late, consumers have become more conscious of their diet. According to a survey conducted by the Council for Responsible Nutrition (CRN) in 2014, the majority of adults in the U.S. took dietary. According to the same survey, around 68% of adults in the U.S. use dietary supplements; of these, around 50% are regular users. Around 83% of adults in the U.S. expressed overall confidence in the quality, effectiveness, and safety of dietary supplements. Rising aging population, increasing lifestyle diseases and increasing healthcare cost are some of the important factors driving the growth of the dietary supplements market. The major factor driving the cost of healthcare is lengthy and costly R&D conducted by pharmaceutical companies. Due to increasing costs of healthcare, people are turning towards dietary supplements to help them stay healthy. These supplements provide various health benefits such as strengthening the immune system, protection from cold and flu, prevention of migraine headaches, treat of arthritis, rheumatic diseases, allergies, lower cholesterol, triglyceride levels and blood pressure, cardiovascular diseases, and cognitive diseases at lower costs.
Asia-Pacific is the largest market for dietary supplements globally. Consumer awareness about the benefits of dietary supplements and wide product availability are the major drivers for the market in Asia Pacific. The increase in disposable income allows customers to spend more on healthy food items. According to the National Bureau of Statistics of China, annual per capita disposable income of urban households in China increased from USD 2,271.0 in 2008 to USD 3408.5 in 2012. The overall annual disposable income in India increased from USD 1,366.2 billion in 2010 to USD 1,587.6 billion in 2013. The dietary supplements market in North America is at mature stage compared to that in developing nations in Asia and Africa. In recent years, consumers have become more conscious of their diet. According to a survey conducted by the Council for Responsible Nutrition (CRN) in 2014, around 68% of adults in the U.S. use dietary supplements; of these, around 50% are regular users. Rising number of elderly people in North America is leading to a rise in demand for dietary supplements products. Over the last few years, the risk of chronic diseases and maintenance of health in old age have been the major health concerns leading to increased spending on dietary supplement products. According to the U.S. Census Bureau, in 2012, 40 million people in the country are aged 65 and above. Europe is the second-largest market for dietary supplement products. Recently, consumers in the region are showing great interest in leading healthy lifestyles, in turn, driving the consumption of healthy food. In the European region, Western Europe is the largest market for dietary supplements. Eastern Europe is considered to have higher future growth potential. Rising aging population, increasing lifestyle diseases, and growing healthcare costs are some of the important factors driving the growth of the dietary supplements market in the region.
The Competitive Landscape section of the dietary supplements market report includes benchmarking section which provides an insight on various companies operating in the dietary supplements market based on their regional presence and their product offerings across four product segments (vitamin supplements, mineral supplements, botanical supplements, and fatty acids supplements).
Key points covered in the report
Some of the major companies operating in the global dietary supplements market: