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(IT-NEWSWIRE.COM, February 27, 2018 )
Today majority of the adults around the world consume health supplements to improve their health. Health supplement is a product that contains health ingredient such as vitamins, minerals, botanicals, amino acids, enzymes, and many other products in the form of tablets, capsules, softgels, gelcaps, liquids, or powders for adding further nutritional value to the body.
The Global Health Supplements Market is expected to grow at a CAGR of 7.8% during the forecast period, 2017-2023.
Health supplements help in reducing the risk of diseases, however it cannot not be assumed as a substitute of a complete meal, which is necessary for a healthy diet. Health supplements also help for the treatment of rheumatic disorders, cardiology, and allergy. Thus, wide range of applications boost the growth of global health supplements market. Additionally increasing concern towards improving the quality of health is fuelling the growth of heath supplements market across the globe. According to the report published by the Council for Responsible Nutrition, in 2015, around 68% of Americans take dietary supplements and 84% of Americans are confident about the safety, quality, and effectiveness of the supplements.
Factors influencing the market growth of health supplements are growing awareness about the functional benefits of health supplements, increasing urbanization and changing lifestyles, growing concerns about maintenance of health to avoid later treatment, ensuring adherence to recommended dietary requirements, treating illnesses, preventing occurrence of diseases, growing influence of media, friends, and relatives, developing retail and pharmaceutical industries, and rapid advancements in product offerings.
However, negative publicity and false commitment are some of the factors, which may hamper the market growth. Moreover, lack of awareness about dosage of the supplements to be consumed is expected to restrain growth of the dietary supplements market during the forecast period.
Segmentations
The Global Health Supplements Market is segmented on the basis of types, by application, by ingredients and by end user.
On the basis of the type, it is segmented into dietary supplements, body building supplements, eye health supplements, specialty supplements, and others.
On the basis of the application, it is segmented into cardiology, rheumatic disorders, allergy, and others.
On the basis of the ingredients, it is segmented into vitamins & minerals, amino acids, botanicals, enzymes, and others.
On the basis of the end user, it is segmented into hospitals, clinics, research centers, and other.
Key Players
Some of key the players in the market are Herblife International (U.S.), BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), Glanbia plc (Republic of Ireland), Abbott Laboratories (U.S.), Alticor Inc. (U.S.), The Nature's Bounty Co. (U.S.), Bayer AG (Germany), GlaxoSmithKline Limited (U.K)
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Regional Analysis
The Americas dominate the Global Health Supplements Market owing to presence of major market players in this region, which are introducing quality products for capturing maximum market share. Additionally the government support for research & development and availability of funds for research is boosting the health supplements market. This is expected to continue to drive the Americas market over the forecasted period. For instance, countries like the U.S. and Canada are increasing their investments in the healthcare domain.
Europe holds the second position in the Global Health Supplements Market owing to availability of advanced products, increasing awareness about the benefits of health supplements, high healthcare spending, and increasing government support for research & development. Furthermore, increased R&D activities and the concentration of major companies in this region have fuelled the growth of this market.
Asia Pacific is the fastest growing Health Supplements Market owing to the presence of rapidly developing healthcare technology, huge patient population, and high healthcare expenditure. Moreover, due to increasing demand for quality products in countries like India and China, this region is likely to emerge as the fastest growing market across the globe.
On the other hand, in the Middle East and Africa, the market has a slow growth owing to lack of available funds and healthcare awareness.
Table Of Content
1. Report Prologue
2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
…Continued
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