What is the market opportunity for Dietary Supplements

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The global dietary supplements market was valued at USD 147.1 billion in 2017 and is anticipated to grow at a CAGR of more than 10.2% during the forecast period. Dietary supplements are substances that provide adequate amounts of essential nutrients required for effective functioning of human bodies. The different types of dietary supplements include protein, vitamins, minerals, fiber, fatty acids, and amino acids among others. Dietary supplements are available in the market in a variety of forms such as tablets, capsules, powders, drinks, and energy bars. Some dietary supplements assist in maintaining overall health and managing health conditions. For instance, Vitamin D and calcium provide bone strength and reduce bone loss, whereas folic acid reduces risks of some birth defects.

The growing rate of obesity and increasing number of diseases associated with it primarily drives the growth of the market. Consumers are increasingly becoming aware regarding weight loss, calorie intake, and proper nutrition, thereby supplementing the growth of the market. The increasing need of consumers to lose weight, and stay healthy while maintaining their lifestyles have supported the growth of this market. Other factors driving the market include growing obese population, sedentary lifestyle of consumers leading to lifestyle diseases, increasing disposable income, and growing government initiatives to promote healthy lifestyles. There has been a shift towards e-commerce and consumers are purchasing dietary supplements through online platforms. The variety of choices available coupled with ease of purchase offered by online platforms encourages consumers to buy dietary supplements online, supplementing the growth of the market. Growing demand from emerging economies along with increasing consumer awareness is expected to provide numerous growth opportunities in the coming years.

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