Westford, USA,, April 10, 2023 (GLOBE NEWSWIRE) -- SkyQuest projects that the North America Dietary Supplements market will attain a value of USD 72.26 billion by 2030, with a CAGR of 5.72% over the forecast (2022-2030). Throughout the forecast period, rising consumer awareness of their own health and wellbeing is anticipated to be a major market driver for dietary supplements. Due to busy schedules and evolving lifestyles, the working population worldwide struggles to meet the needs for dairy nutrients. The industry is anticipated to grow increasingly dependent on supplements to meet nutritional needs due to their high level of convenience.
According to the SkyQuest's, various steps taken by regulatory agencies, such the Food and Drug Administration of the United States (USFDA), to guarantee that only high-quality and secure dietary and food supplements are marketed in the market promote consumer use of dietary supplements. The market demand for these supplements is also anticipated to increase over the forecast years due to the growing use of clean-labeled, secure, and organic ingredients in the manufacture of food nutritive additives.
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- Pages - 242
- Tables - 118
- Figures – 70
Dietary supplements are substances that are consumed in a different way than regular food and whose purpose is to supply or supplement the diet's deficiency in certain vitamins or nutrients. These may aid in reducing the likelihood of developing health issues. Dietary supplement sales are expanding as people become more conscious of the value of their own health and wellbeing.
Prominent Players in North America Dietary Supplements Market
- Amway Corp.
- Glanbia PLC
- Abbott
- Bayer AG
- Pfizer Inc.
- ADM
- Nu Skin Enterprises, Inc.
- GlaxoSmithKline plc
- Bionova
- Ayanda
- Arkopharma
- Herbalife International of Ameria, Inc.
- Nature’s Sunshine Products, Inc.
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The Segment for Protein and Amino Acids Is Predicted to Have the Highest CAGR Due to an Increasing Number of Individuals Are Adopting a Healthy Lifestyle,
The segment for protein and amino acids is predicted to have the highest CAGR during the forecast period. This is explained by the fact that protein and amino acids are in high demand as supplements for sports nutrition. Also, it is projected that the introduction of novel plant-based proteins including hemp, spirulina, and soy will significantly accelerate segment growth.
Due to the larger spending power of the population, the U.S. became the region's largest market for dietary supplements in North America. Throughout the forecast period, market expansion is anticipated to be aided by rising healthcare spending, an ageing population, rising interest in preventative healthcare, and increased interest in achieving wellness via nutrition. The demand for energy and weight management is anticipated to rise as there are more gyms, health clubs, and fitness centers available, along with a rise in youth fitness awareness.
Vitamin Categories Accounted for The Largest Percentage of The Ingredients Due to Awareness and Popularity
In the North American Dietary Supplements Market, vitamin categories accounted for the largest percentage of the ingredients used to make dietary supplements. Factors that are boosting interest in these products include the quick advancement of science and technology, rising healthcare costs, changes in food regulations that have an impact on label and product claims, the growing geriatric population, and the growing interest in achieving wellness through diet.
A comprehensive analysis of the major players in the North America Dietary Supplements market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments in North America Dietary Supplements Market
- According to John O Agwunobi, the company's worldwide CEO, Herbalife Nutrition, a direct selling nutrition company, anticipates India to surpass the United States as its top global market in March 2022. Having experienced double-digit volume growth in India's Tier I cities over the past five years, the company is now planning to expand into Tier II and Tier III markets in addition to conducting a feasibility study to establish its own manufacturing facilities there.
- Unilever acquired US hair loss product manufacturer Nutrafol for an unknown sum in May 2022 as part of its ongoing strategy to increase its focus on the health and wellbeing sector.
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Key Questions Answered in North America Dietary Supplements Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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