24-Dec-2019 | Zion Market Research
As concluded by the latest report by Zion Market Research, a highly competitive business landscape is presented by the global dietary supplements market owing to the existence of a larger player pool. Some of the main players of the dietary supplements market include Bayer AG, Bio-Botanica Inc., Ricola AG, BASF SE, Integrated BioPharma, and Herbalife Ltd. These players are concentrating insistently on innovation, in addition to integrating higher technologies in their prevailing products. Also, they are anticipated to make mergers & acquisitions and partnerships over the coming years as their main approach for business development, as per the analysis of the dietary supplements market.
Citing a case, Healthnotes, a company which provides customer & regulatory education to dietary supplement retailers & producers was acquired by TraceGains, a compliance software information provider for F&B firms in August 2018. Analysts estimate that the merger will assist the dietary supplements market in giving out standardized data with several suppliers who are part of the TraceGains supply chain network.
Browse the full “Dietary Supplements Market by Ingredients (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes) for Additional Supplements, Medicinal Supplements and Sports Nutrition Applications - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022” Report at https://www.zionmarketresearch.com/report/dietary-supplements-market
On a similar note, a study conducted at UMass Lowell's School of Criminology and Justice Studies in July 2018 divulged that disruptive and abusive behavior can be minimized in both adults and children with dietary supplements like omega-3 fatty acid supplements. This, in turn, enhanced their behavior. This is likely to influence the growth of the dietary supplement market. For the record, it is experimentally confirmed that omega-3 fatty acids enhance the brain health of adults and children.
The global dietary supplements market, as projected in this report, in 2016, was valued at US$ 132.8 Billion. Observing a remarkable rise during 2015–2021, the dietary supplements market’s revenue is projected to attain US$ 220.3 Billion by the conclusion of the estimated period. The key types accessible in this dietary supplement market are amino acids, botanicals, enzymes, minerals, and vitamins.
Business Space To Be Propelled By Better Understanding Of Preventive Healthcare
As per the study author, “Increasing consumer wakefulness in relation to preventive healthcare and the quickly increasing geriatric population is anticipated to add considerably to the revenue of the dietary supplements market over the forthcoming years.” Besides this, the huge influence of advertisement and mass media communications observed in the retail and pharmaceutical sectors will spawn beneficial demand for the industry. In addition, the advent of new dietary supplement products is anticipated to surface new growth avenues for the dietary supplements market in the years to come. However, false claims and negative publicity about the product use has unfavorably affected the reputation and credibility of the manufacturers, thus obstructing the dietary supplements market’s growth.
Regional Dominance of Asia Pacific To Be Steered By Widespread Product Availability
In terms of region, the global dietary supplements market has been governed by the Asia Pacific and is projected to hold on the leading rank in the upcoming period, as per the market analysis. The rising wakefulness among the consumers about the advantages of dietary supplements’ consumption and large-scale product availability are the key factors responsible for Asia Pacific’s dominance. In terms of volume, dietary supplements market share of more than 31% is accounted by APAC in 2016.
Following is the segmentation of the global dietary supplements market:
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