US Dietary supplements Market Synopsis
The spurring incidence of cardiovascular diseases is the most notable factor driving the U.S dietary supplements market 2022. The other significant cause of cardiovascular diseases is the prevalence of diabetes and Obesity. The surging number of diabetes and obesity patients has resulted in the expansion of market by cumulating the demand for dietary supplements. The growing need for dietary supplements is estimated to lessen the cost of final products, and therefore, growing the demand immensely. Moreover, the increasing geriatric population, along with the rising number of diseased individuals is estimated to propel the market strength in the forthcoming period.
As per the assessment carried out by Market Research Future Reports (MRFR), the U.S. dietary supplements market research report is projected to expand at a CAGR of 8.45%, holding a substantial market value during the evaluation period from 2022 to 2030.
Further, the rapid urbanization and increased disposable income are some of the other crucial factors positively impacting the global market. The growing awareness about the health issues are likely to favour the development of market. In addition, the change in lifestyles, along with the increasing inclination towards sports and gyms is projected drive the demand for dietary supplements.
According to MRFR, the outbreak of COVID-19 is likely to have a positive impact on the market growth. The consumers are inclined towards boosting their immunity, and therefore, the market is projected to shoot during the pandemic.
Market Segmentation
The study of the U.S. dietary supplements market is segmented by product category, gender, application, dosage form, and end-user.
Based on application, the market is segmented into inherited diseases, lifestyle diseases, genetic predispositions, and others.
Based on gender, the market is segmented into 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 dosage form, the market is segmented into capsules, tablets, powder, soft gels liquids, and others.
Based on product category, the market is segmented into vitamins, herbs & botanicals, sports supplements, meal supplements, minerals, and other.
Based on end-user, the market is segmented into hospitals & clinics, home care, and others.
Geographical Analysis
U.S is projected to lead the dietary supplements market owing to the presence of major influencing players. Further, the region is expecting surge in the geriatric population. As per the population reference bureau, the Americans reaching the age of 65 and older is estimated to double from 46 million to 98 million by 2060. After the U.S, Canada is estimated to take the second position, with a significant CAGR during the forecast period. Further, the increasing medical service costs has resulted in an increased adoption of the U.S. dietary supplements market share. Also, the increasing adoption of healthy lifestyles owing to the increased proneness to diabetes and Obesity is estimated to impact the market significantly. In addition, the growing awareness about the health benefits of the dietary supplement is anticipated to create a conducive market opportunity.
Key Players
The U.S dietary supplements market players are Danone Nutricia, Carlyle Group, Archer Daniels Midland, Amway (Nutrilite), Amway, Glanbia, GlaxoSmithKline plc, Bayer AG, Danisco, Pfizer Inc., Natures Product Inc., Abbott Laboratories, Balchem Corporation, Bactolac Pharmaceutical Inc., Nestlé Health Science, Herbalife International, and others.
Industry News
August 2020
Nestle Health Science, the globally renowned organization in the field of nutritional science, has announced that it has agreed to procure the business of IM HealthScience with its brands of IBgard, FDgard, Fiber Choice, and REMfresh.
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