Dietary Supplements Market Highlights
The global dietary supplements in the age of personalized nutrition market is expected to exhibit a strong 6.9% CAGR over the forecast period from 2017 to 2023, as per the latest research report from Market Research Future (MRFR). The global market is expected to foster robust growth over the forecast period, according to the study, which provides a comprehensive overview of the global market’s historical growth trajectory and future growth prospects. The major drivers and challenges for the global dietary supplements market, with particular focus on the development of the field of personalized medication and the impact of the same on the growth of the dietary supplements market, are studied and profiled in the report. Major players operating in the global dietary supplements in the age of personalized nutrition market are also profiled in the report.
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Dietary supplements are used to supplement an individual’s diet with nutrients that are not provided by the regular diet. A wide variety of nutrients can be delivered through dietary supplements, including vitamins, proteins, and several specific chemicals found in specific plants or animal matter. The development of personalized medication has had a vital impact on the global market, as it has allowed physicians to diagnose precise requirements of an individual with regard to specific nutrients and formulate customized dietary supplements accordingly. Dietary supplements are also consumed to increase an individual’s athletic or mental performance and are thus popular among athletes.
According to MRFR, the global dietary supplements in the age of personalized nutrition market was valued at USD 100,741.2 million in 2016.
Dietary Supplements Market Analyzed By Competitive Analysis:
Top players in the global dietary supplements in the age of personalized nutrition market include Bactolac Pharmaceutical Inc., Natures Product Inc., Balchem Corporation, Pfizer Inc., GlaxoSmithKline plc, Bayer AG, Glanbia, Danisco, Amway, Herbalife International, Abbott Laboratories, Archer Daniels Midland Corporation, Nutrilite, Carlyle Group, Danone Nutricia, and Nestle Health Science. They are expected to focus on product development and diversification in the coming years in order to cater to consumers with distinct genes. Development of online selling platforms is also likely to be a key priority for players in the dietary supplements in the age of personalized nutrition market due to the growing preference for online shopping from consumers. On the other hand, the increasing risk of counterfeit products is likely to hold back the growth of the market over the forecast period.
Dietary Supplements Market Segmentation:
The global dietary supplements in the age of personalized nutrition market report has segmented its information on the basis of application, gender, product category, dosage form, end-user, and region.
By application, the dietary supplements in the age of personalized nutrition market is segmented into lifestyle diseases, inherited diseases, genetic predisposition, and others.
The market targets two main genders, mainly female and male. The female segment holds the largest share in the global dietary supplements in the age of personalized nutrition market and is expected to exhibit a strong CAGR of 7.39% over the forecast period.
By product category, the global dietary supplements in the age of personalized nutrition market is segmented into vitamins, herbs and botanicals, sports supplements, meal supplements, minerals, and others. The vitamins segment holds the largest share in the global dietary supplements in the age of personalized nutrition market due to the widespread popularity and awareness about vitamin supplements.
By dosage form, the global dietary supplements in the age of personalized nutrition market is segmented into tablets, soft gels, capsules, powder, liquids, and others. The tablets segment holds the largest share of 27.7% in the global dietary supplements in the age of personalized nutrition market and is expected to grow at a robust 7.44% CAGR over the forecast period.
By end-use, the global dietary supplements in the age of personalized nutrition market is segmented into hospitals and clinics, home care, and others.
Dietary Supplements Market Regional Analysis:
The Americas accounted for a dominant 35.3% share in the global dietary supplements in the age of personalized nutrition market in 2016 and is likely to remain the major revenue generator for the market over the forecast period due to the widespread awareness about dietary supplements and the strong presence of leading market players, leading to easy product availability, especially in North America.
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