Dietary Supplements Market to hit $319,085.34 Million, Globally, by 2028 at 5.9% CAGR: The Insight Partners

NEW YORK, UNITED STATES, January 19, 2022 /EINPresswire.com/ -- According to our latest market study on “Dietary Supplements Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Vitamins, Minerals, Proteins and Amino Acids, Probiotics, Blends, and Others), Form (Tablets, Capsules and Softgels, Powders, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others),’’ the market size was valued at US$ 214,165.30 million in 2021 and is projected to reach a market size of US$ 319,085.34 million by 2028; it is expected to grow at a CAGR of 5.9% from 2021 to 2028.

Report Coverage Details
Market Size Value in- US$ 214,165.30 million in 2021
Market Size Value by- US$ 319,085.34 million by 2028
Growth rate- CAGR of 5.9% from 2021 to 2028
Forecast Period- 2021-2028
Base Year- 2021
No. of Pages- 166
No. Tables- 83
No. of Charts & Figures- 85
Historical data available- Yes
Segments covered- Type, Form, and Distribution Channel, and Geography
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Dietary supplements contain dietary ingredients to improve their nutritional worth. Many people use these supplements for a healthy lifestyle. Dietary supplements consist of various nutrients, such as vitamins, minerals, proteins, amino acids, and probiotics. Also, they are available in different forms such as tablets, capsules and softgels, and powders.

People have become more aware and concerned about their health and physique over the last few years. Moreover, there has been a rising prevalence of various diseases and health issues including cancer and cardiovascular disorders, and several medical conditions, such as diabetes, high blood pressure, obesity, and high cholesterol owing to a dramatic change in the lifestyles and consumption patterns of people across the globe.

Impact of COVID-19 Pandemic on Dietary Supplements Market

COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then it has spread across the globe at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst affected countries in terms of positive cases and reported deaths as of March 2020. The COVID-19outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global food and beverage industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. For instance, China is the global hub of manufacturing and the largest raw material supplier for various industries. The overall market break down due to COVID-19 is also affecting the market growth of Dietary Supplements due to shutting down of factories, obstacle in supply chain, and downturn in world economy.

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Based on form, the dietary supplements market is segmented into tablets, capsules & softgels, powders, and others. The capsules & softgels segment held the largest share of the market in 2020 and is projected to register the highest CAGR during the forecast period. Capsules are gelatin pieces that fit together to retain dry ingredients and are commonly used in supplements. They are widely available in cylindrical shape. The two-piece design of capsule prevents the oil-based substances and liquids from entering it. Therefore, majority of the dietary supplements are available in capsule form. A soft gel is similar to a capsule in appearance, but it is made of a gelatin-based shell surrounding a liquid fill. The gelatin soft gel keeps components safe from oxidizing and degrading. Soft gels are often preferred over tablets to be used for oils or other liquid substances since they are easy to swallow. In addition, soft gels hermetically encapsulate the contents to protect against air, and opaque soft gel shields delicate substances from light, which boosts the market growth for this segment.

The global Dietary Supplements market, by geography, is segmented into five regions—North America, Europe, Asia Pacific (APAC), Middle East &Africa (MEA), and South America.

Dietary Supplements Market: Competitive Landscape and Key Developments

Anona GmbH; Abbott; Amway Corp.; Bayer AG; Arkopharma; Bionova; Pfizer Inc.; Otsuka Holdings Co., Ltd.; GlaxoSmithKline plc.; and The Bountiful Company are among the key players in the global Dietary Supplements market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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