A report titled ‘Dietary Supplements Market: Global Industry Analysis and Opportunity Assessment, 2014–2020’ is now available on Market Research Reports Search Engine (MRRSE), the portal has announced. The report, published by Future Market Insights (FMI), brings to the fore growth figures and important findings pertaining to the global dietary supplements market. According to the study, the market, which approximated US$ 61.84 billion in 2014, will chart a CAGR of 5.3% between 2015 and 2020, by which year it is pegged to be worth US$ 84.8 billion.
While an increasingly health conscious consumer base is emerging worldwide, this change doesn’t have a remarkably positive impact on the growth prospects o the dietary supplements market. Nevertheless, there are other factors that augur well for the market; these include: Higher adoption of preventive healthcare measures by consumers, augmented consumer incomes (especially in developing nations), and innovative product launches by companies in the dietary supplements market. The geriatric population base today consumes more dietary supplements as compared to their counterparts a few decades ago. This factor also helps add to the global demand for dietary supplements.
For the purpose of this study, the report segments the global dietary supplements market thus: By product, by application type, and by geographical region.
The product segment is further split into: Vitamins, protein supplements, minerals, probiotics, blended supplements, fish oils/Omega 3-6-9, and others. The single-largest revenue share in the dietary supplements market by product is expected to be held by vitamin supplements (38%) by 2020. Another segment that will constitute a significant share of the market is fish oils/Omega 3-6-9, which will likely contribute to 16% of all market revenues by 2020, registering a 13.2% CAGR through the period of forecast.
The report also studies the dietary supplements market by health enhancement applications as: Energy, women’s health and beauty, bone and joint health, and heart health. Of these, the report reveals that dietary supplements for increasing energy levels will expand at the highest rate (13.3%) between 2015 and 2020. Other supplements such as those consumed for improved immunity, bone health, better heart health, and a regulated digestion system will also gain greater market share through the forecast period of the report.
The report evaluates the dynamics of the following geographical regions: North America, Europe, Asia Pacific and RoW. Of these, APAC will hold an impressive revenue share (44%) of the global dietary supplements market by 2020, and will be trailed by North America and Europe.