As per the market outlook foreseen by the IndustryARC business intelligence report titled “Vitamins And Nutrition Supplements Market: By Vitamin (A, B, C, D, E and K) By Nutritional Supplements (Amino acids, Minerals, Others) End Users (Infants, Athletes, Gymnasts, Body Builders, Others) & By Geography - Forecast (2018-2024),” the market is composed for exponential growth owing to health concerns and increasing awareness on preventive care. These minerals, supplements and vitamins do not fall under the prescribed drugs category and are unaffected by any compliance by the FDA, which is another factor stroking the market with abundant scope and opportunities.
Global Vitamins & Nutrition Supplements Market: Demand Analysis
In this era of financial and industrial prosperity, individual health concerns are often left unattended, leading to its deterioration. An adequate indicator is a report by WHO (2018) which states that the rate of obesity has tripled since 1975. Additionally, WHO sated the same year that around 45% of deaths among children under 5 years of age are linked to malnutrition and 426 million adults are underweight. Owing to such alarming rates, huge chunk of the overall population is propelled towards healthcare and proper nutrition uptake. With the former domain progressively growing expensive, a good amount of traffic is diverted towards vitamins and nutrition supplement market as a preventive caution.
Browse 65 Market Tables, 177 Figures spread through 157 slides and an in-depth TOC on “Vitamins And Nutrition Supplements Market (2018 - 2023)”
Global Vitamins and Nutrition Supplements Market- Disruptive Trends:
In accordance with the Council for Responsible Nutrition, 68% of American population consume dietary supplements. Owing to such colossal application, the market in this particular region is valued at $30 billion in sales. 66% of this traffic fall under the age group between 18 and 34, and have indicated to increase their supplement usage in the upcoming years. With 78% of Americans confirming supplements as a right choice, the market is customary for an unprecedented growth in this region.
Observational studies by The National Center for Biotechnology Information, U.S, have suggested that various nutrients, dietary supplements, and vitamins may suspend the inception of dementia. Such studies have imposed governments to escalate their spending on community health forums relevantly affecting the preventive healthcare or nutritional supplements and vitamins market. China is spending nearly $6.3 billion per annum for community healthcare which can be capitalized by the market players in this highest-populated region to converge such government investments with their revenue.
Cumulative urban population with increasing disposable income but decreasing leisure time are persistently generating demand for on-the-move dietary alternatives to comply with the required uptake of nutritionals such as pigments, polyphenols, collagens, antibiotics and biologics.
The growth of dietary supplements industry is determined by the inclination towards preventive health management practices amid escalating healthcare charges and mounting burden of lifestyle diseases. Increase in disposable income alongside government initiatives are playing a pivotal role towards the vitamins and nutrition supplements market growth. But another considerable factor is the typical branding approach equipped by the market giants which focuses on diverting consumer’s emphasis towards aesthetic “look good” factor rather than just healthier lifestyle.
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