Dietary supplements Market is booming due to increase in consumers interest towards personal fitness and healthy diet. Rising population, changing lifestyle, and increase in health care costs are key driver for dietary supplements market.
Dietary supplements include ingredients such as vitamins, minerals, herbs, amino acids, and enzymes. Dietary supplements are marketed in forms such as tablets, capsules, softgels, gelcaps, powders, and liquids. Dietary supplements can diagnose, cure, treat, or prevent disease; they just contribute to health maintenance and well-being. Some supplements claim to provide enough of the vital substances the body needs to function; others may help reduce the risk of disease, but supplements should not replace complete meals which are necessary for a healthful diet. Unlike drugs, supplements are not permitted to be marketed for the purpose of treating, diagnosing, preventing, or curing diseases. That means supplements should not make disease claims, such as “lowers high cholesterol” or “treats heart disease.” Claims like these cannot be legitimately made for dietary supplements. Dietary Supplements can be beneficial to the health; however, taking supplements can also involve health risks. The U.S. Food and Drug Administration (FDA) do not have the authority to review dietary supplement products for safety and effectiveness before they are marketed.
Dietary Supplements Market is booming owing to the consumer’s inclination towards personal fitness and healthy diet. According to a recent study report published by the Market Research Future, The global market of Dietary Supplements has been increasing. The market is expected to grow at a rapid pace during the forecast period (2016 – 2027). The Dietary Supplements Market is forecasted to demonstrate a spectacular growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2027).
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The Dietary supplements Market can be segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation by Form: Comprises Tablet, Capsule, Powder, Liquid and Sweet foods and others.
- Segmentation by Type: Comprises Vitamins, Minerals, Amino acids, Botanicals, and others.
- Segmentation by Applications: Personal care, Sports Nutrition and Pharmaceuticals.
- Segmentation by End User: Comprises Children, Youth, Adults, and Geriatric.
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Personal care market includes sub-segments – weight loss, general wellbeing, bone & joint, immunity, and digestive health; by pharmaceuticals market includes sub-segments – heart health, allergies, and eye health.
The Key Players that are involved in Global Dietary supplements Market are BASF SE (DE), E. I. Du Pont de Nemours and Company (US), Glanbia Plc, Royal DSM N.V., Abbott Laboratories, Amway Enterprises, NBTY Inc, GlaxoSmithKline Limited are some of the key players at the forefront of competition in the Dietary supplements global Market and profiled in MRFR Analysis.
The Dietary Supplements Market appears to be highly competitive and fragmented owing to the presence of several large and small key players accounting for a substantial market share. These key players compete based on pricing, innovation, added health benefits, product differentiation and category extension. Well established players incorporate acquisition, collaboration, partnership, expansion, product & technology launch in order to gain competitive advantage in this market and to maintain their market position. Manufacturers and distributors of dietary supplements and dietary ingredients are prohibited from marketing products that are adulterated or misbranded. That means that these firms are responsible for evaluating the safety and labelling of their products before marketing to ensure that they meet all the requirements of DSHEA and FDA regulations.
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, gel caps, and liquids. Dietary can also be helpful in preventing nutritional deficiency diseases. Rising geriatric populace, increasing diseases prompted by the heady lifestyle and increasing healthcare cost are some of the important factors that propelling the growth of the dietary supplements market. Dietary supplements provide various health benefits such as strengthening the immune system, protection from cold and flu, prevention of migraine headaches, treat of arthritis, rheumatic diseases, allergies, lower cholesterol, triglyceride levels and blood pressure, cardiovascular diseases, and cognitive diseases at lower costs.
FDA regulates both finished dietary supplement products and dietary ingredients. FDA regulates dietary supplements under a different set of regulations than those covering “conventional” foods and drug products. Under the Dietary Supplement Health and Education Act of 1994 (DSHEA). FDA is responsible for taking action against any adulterated or misbranded dietary supplement product after it reaches the market.
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Asia pacific dominates the Global Dietary supplements Market with the largest market share, accounting for astronomical amounts and is expected to grow over multi Millions by 2027. Europe and North America are expected to grow in 2016 to become the largest market for Dietary supplements and expected to grow at a substantial CAGR over the forecasted period.
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