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The global dietary supplements market size reached USD 145.4 Billion in 2021 and is expected to register a revenue CAGR of 7.5% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for vegan products and rising prevalence of obesity and diabetes globally are factors expected to support market revenue growth between 2021 and 2030.
The growing trend of veganism is driving demand for plant-based dietary supplement products, which is expected to boost revenue growth of the market during the forecast period. Plants have certain essential nutrients that are found in animal-based products. Phytochemicals, antioxidants, vitamins, and minerals present in plants can help to keep human cells healthy, along with balancing the immune system. A healthy immune system is essential for reducing risks of diseases such as cancer as the system can recognize and attack mutations in cells before they can progress to disease. Furthermore, prolonged inflammation can damage tissues that can cause cancer and other inflammatory diseases, including arthritis, and plant-based dietary supplements can prevent these diseases and help to protect cells in the human body from damage and aging.
The report takes a closer look at the historical and current market scenarios to accurately predict the global Dietary Supplements market outlook over the forecast duration (2021-2028). Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market. The study involves the use of efficient analytical tools like SWOT analysis and Porter’s Five Forces to inspect the strengths, weaknesses, opportunities, and threats associated with the growth of the various market segments. The report provides crucial details, such as the market shares of the key players, which help the reader attain a comprehensive outlook of the Dietary Supplements market.
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Competitive Outlook:
The global Dietary Supplements market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Dietary Supplements market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Some of the key participants in this industry include:
Emergen Research has segmented the global dietary supplements market on the basis of product type, function, application, target consumer, and region:
Key regions covered in the report:
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Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
Valuable Market Insights:
Questions addressed in the report:
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