Market Outlook

The global dietary supplements market Revenue was valued at USD 140.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.6% from 2021 to 2028.

The global Dietary Supplements Market Revenue within the age of personalized nutrition market size is expected to grow at a CAGR of 6.90% during the forecast period. The change in the dietary habits of consumers is one of the main drivers of the market. the massive geriatric populace with its susceptibility to chronic diseases is predicted to be one of the most important consumer bases for the market. consistent with the WHO, the elderly population numbers can exceed quite 2 billion by 2050. this will cause an enormous strain on the healthcare expenditure of countries. Dietary supplements can play a role in strengthening the system and keeping diseases it’s bay.

Covid-19 Analysis

The covid-19 pandemic had a mixed impact on the dietary supplements market share. But overall, the pandemic will have a positive impact on the dietary supplements industry in the long term. The positive impact can be seen owing to the high demand for dietary supplements in the developed regions because they offer strong immunity functions and reduce the threat of coronavirus. Due to the rising covid-19 cases, the consumers are inclined towards immunity-boosting and healthy products.

The covid-19 also had a negative impact on the market due to the decline in production. Due to the imposition of lockdown, the production works were on a halt; as a result, the supply declined. The travel restrictions around the world made it difficult to transport raw materials; as a result, it had a negative impact on the global market. The dietary supplements market trends are predicted to grow when everything comes back to normal.

Competitive Landscape

Carlyle Group, GlaxoSmithKline plc, Bactolac Pharmaceutical Inc., Pfizer Inc., Glanbia, Archer Daniels Midland, Danisco, Danone Nutricia, Natures Product Inc., Herbalife International, Balchem Corporation, Bayer AG, Abbott Laboratories, Amway (Nutrilite), Nestlé Health Science, and others are key players of the global dietary supplements in the age of personalized medicine market.

Market Segmentation

The global dietary supplements in the age of personalized nutrition market report have segmented its content by product category, application, gender, dosage form, and end-user.

By product category, it is segmented into herbs botanicals, vitamins, minerals, sports supplements, meal supplements, and others.

Applications of the dietary supplements market include genetic predispositions, lifestyle diseases, inherited diseases, and others.

By gender, it is segmented into 2 main categories - female and male. Female and male is further segmented into various age groups, namely, 55 + age group, 35-54 age group, 19-34 age group, and 0-18 age group.

Based on the dosage form, it is segmented into tablets, capsules, powder, liquids, soft gels, and others.

Major end-users are home care, hospitals clinics, and others.

The health-consciousness wave among teens, adults and other demographics can be lucrative for the market in the coming years. For instance, awareness of weight loss programs has led to customers in India and China has increased the protein intake in this region.

Regional Analysis

The global Dietary Supplements Market in the age of personalized nutrition market covers regions of the Americas, Europe, Asia Pacific (APAC), and the Middle East Africa (MEA).

The Americas are predicted to dominate the global market till 2028 owing to high awareness levels among customers. Thorough testing of vitamin levels to comprehend nutrient deficiencies within patients is one of the biggest drivers which can propel the growth of personalized medicine. The focus on cellular health can lead to investment in research and development which can target specific nutrient levels is expected to further the global diabetes dietary supplements in the personalized medicine market.

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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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