Market analysis of dietary supplements
Technavios market research analyst predicts the global dietary supplements market to grow at a CAGR of 6% during the forecast period. The increased awareness of lifestyle diseases is one of the key drivers for the growth of this market. The sedentary lifestyles and a lack of balanced diet have resulted in an increased incidence of diseases such as stroke, heart disease, obesity, type two diabetes, and atherosclerosis. The dietary supplements offer a broad range of health benefits such as treating rheumatic disease, blood pressure, migraines, treating of arthritis and building up the immune system.
The growing R&D spending in the dietary supplements market is also expected to fuel the market growth during the forecast period. For instance, Nestle has 34 R&D centers across the globe and spends around 60% of its international budget on R&D in these facilities.
Product segmentation and analysis of the dietary supplements market
Fish oil and omega fatty acids
Combination dietary supplements
Eye health supplements
Vitamins dominated the market during 2014 with a market share of around 44% and is expected to reach a market value of around USD 33 billion by the end of 2019. The deficiency of vitamins causes decreased skin cell growth and skin differentiation. The number of people with a vitamin D deficiency, due to inadequate exposure to sunlight, is on a rise in the Scandinavian countries.
Geographical segmentation and analysis of the dietary supplements market
APAC accounted for the largest market share of around 44% during 2014. The report predicts this region to maintain its market dominance until the end of 2019, growing at a rate of 6%. The increase in awareness about the need for proactive personal healthcare practices in this region is driving the market growth. APAC is also the largest market for vitamin supplements products.
Competitive landscape and key vendors
The global dietary supplements is fragmented with small and large vendors. The market is highly competitive and dominated by key vendors. Providers in this market compete on the basis of added health benefits, product differentiation, category extension, and innovation in product and application.
The key vendors in the market are
Other vendors in the market include DSM, American Health, The Himalaya Drug Company, GlaxoSmithKline, and Pfizer.
Key questions answered in the report include
What will the market size and the growth rate be in 2019
What are the key factors driving the global dietary supplements market
What are the key market trends impacting the growth of the global dietary supplements market
What are the challenges to market growth
Who are the key vendors in the dietary supplements market
What are the market opportunities and threats faced by the vendors in the dietary supplements market
Trending factors influencing the market shares of the APAC, Europe, North America, and ROW
What are the key outcomes of the five forces analysis of the global dietary supplements market
Technavio also offers customization on reports based on specific client requirement.
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