Dietary Supplements Market Projected to Reach USD 179.8 Billion By 2020

Dietary Supplements Market Will Reach US$ 179.8 Billion, Globally
in 2020
According to a new market report published by Persistence Market Research
“Global Market Study on Dietary Supplements: Botanical Supplements To Be
The Largest Market by 2020,” the global dietary supplements market was
valued at USD 109.8 billion in 2013 and is expected to grow at a CAGR of
7.4% from 2014 to 2020, to reach an estimated value of USD 179.8 billion in
A growing interest in a healthy lifestyle is leading to an increase in the
consumption of healthy food. Dietary supplements are the best choice for
consumers looking to adopt a healthy lifestyle. People across various age
groups consume dietary supplements to meet their recommended dietary
allowances. Dietary supplements are available in different forms, such tablets,
pills, powders, capsules, gelcaps, and liquids. Dietary supplements such as
vitamin, botanical, mineral and fatty acid help consumers stay healthy and
prevent nutritional deficiency diseases. Rising aging population, increasing
lifestyle diseases and increasing healthcare cost are some of the important
factors driving the growth of the dietary supplements market.
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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.
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The dietary supplements market is bifurcated into product (vitamin, botanical,
mineral, fatty acids, and others supplements) by value (USD billion),
application (food and beverages, pharmaceuticals, personal care, and others) by
value (USD billion), and end user (adult women, adult men, senior citizens, and
others) by value (USD billion).
Global dietary supplements market grew from USD 90.6 billion in 2010 to
USD 109.8 billion in 2013 at a CAGR of 6.6%. Under regional segment, the
Asia Pacific dietary supplements market ( the largest market in 2013) increased
by 8.2% CAGR during 2010-2013 to reach USD 34.2 billion in 2013.
Some of the major companies operating in the global dietary supplements
market are NBTY, Inc., Koninklijke DSM N.V., Amway, Herbalife Ltd., Omega
Protein Corporation, Bayer AG, Naturalife Asia Co., Ltd., Integrated
BioPharma, Inc., Nu Skin Enterprises, Inc., BASF SE, Surya Herbal Ltd., BioBotanica Inc., The Himalaya Drug Company, Ricola AG, Pharmavite LLC,
Blackmores Ltd., Epax AS, and Axellus AS.
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