Market Insight
Stock in Global COVID-19 Pandemic Impact on Dietary Supplements Market 2020 rises sharply after Market Research Future finds in its research considering COVID 19 situation at a global level. According to the latest readings, the market will range far and wide, with a 6.85% growth rate, and by this, the future revenue collection could be158,468.7 Million. Such growth would take place in the assessment period 2020 – 2025.
Dietary Supplements Boomers & Decliners
The global dietary supplements market is raking high worldwide, owing to the demand for healthier nutritional value in daily diet. The US FDA has defined dietary supplements as products containing ‘dietary’ ingredients with better ingestion. While some other dietary supplements are aimed at lowering the risk of chronic ailments and others are predestined to improve the nutritional worth in daily diet.
The expansion exhibited by the global dietary supplements market is a result of assorted factors such as the developing economies and consequently escalating income of consumers, hectic lifestyle, rising awareness about nutrition, the spread of chronic ailments, and increasing geriatric population. These factors have been serving the market by gaining much traction around the world. As per the reports, it would continue to gain prominence in the coming years.
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MRFR further added it to its research that the global market of diet supplements has witnessed a paradigm shift from curative practices to preventive management in the health sector, thus making it a prime growth factor for the market. Healthcare, as an industry, contributes widely to the economy. Emphasis on care management, focus on spending for value, as well as mounting general inflation is significant factors influencing the healthcare cost.
In fact, the population in the regions like Europe, the United States, and Japan is aging, prompting consumers to seek a range of dietary supplements for maintaining and enhancing the overall health and well-being. The healthcare cost is considerably high in emerging economies owing to elevated per-capita out-of-pocket spending on healthcare, amid the burden of diseases. Such trends have encouraged consumers to decide on for dietary supplements and thus pacifying its market growth.
Apart from this, the factor of the growing importance of health as a lifestyle choice has attracted many companies to enter the mineral, vitamin, and botanical segments of the market studied. Thus, the extreme focus on the preventive healthcare system, coupled with tough endorsements and marketing efforts of lifestyle enhancement products, is motivating the market of dietary supplements.
Top Players
The top players in the Global COVID-19 Pandemic Impact on Dietary Supplements Market include The Nature’s Bounty Co. (US), Glanbia plc (Ireland), Bayer AG (Germany), GlaxoSmithKline plc (UK), Herbalife Nutrition Ltd. (US), Amway Corp (US), Nature’s Way Products, LLC (US), Otsuka Holdings Co., Ltd (Japan), and Living Essentials Marketing, LLC (US).
Segment Review
By the segment of product type, the global COVID-19 Pandemic Impact on Dietary Supplements Market has included minerals, amino acids & proteins, vitamins, blends, probiotics, and others. Among these, the vitamin segment might lead to the global market and would be worthing at USD 79,600.9 million by 2025. The amino acids & proteins segment might also register the highest CAGR of 7.50% from 2019–2025. The demand for protein supplements has surged in the last few years.
By the segment of form, the market has included powders, tablets, capsules, & soft gels, gummies, and others.
By the segment of the distribution channel, the market has included store-based and non-store-based. Among these, the store-based segment has included specialty stores, supermarkets & Hypermarkets, and others.
Regional Framework
Geographically, North America might constitute a leading share of the COVID-19 Pandemic Impact on Dietary Supplements Market during the assessment period. The region grabbed a 37.06% share of the market in the year 2020. The US and Canada are among the foremost contributors to the growth of the North American market. The market in the region might register a momentous CAGR of 6.43% during the forecast period of 2019 to 2025. With this, the swelling medical service costs have resulted in a shift of consumers toward the adoption of healthy alternatives in daily routine, and the consumption and demand for dietary supplements have improved drastically. Mainly, the consumption of vitamin supplements is unusually high in North America.
Furthermore, the Asia-Pacific market holds an outstanding share of the Dietary global supplements market owing to the rising adoption of healthy lifestyles and expanding the organized retail sector in the emerging economies of Asia-Pacific.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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