Health Supplements Market Strategic Assessment, Research, Size, Share and Global Expansion by 2027

[Priya Raut]

Market Overview

According to the report by Market Research Future (MRFR), the global health supplements market is expected to surge at a CAGR of 7.8% during the forecast period (2017-2023).

Health supplements are a diverse group of products that consumed for the purpose of supplementing the diet as well as enhancing health. Health supplements typically made up of ingredients derived from natural sources. However they are not meant to prevent, cure, treat, or alleviate the symptoms of medical diseases or conditions.

Drivers and Restraints

One primary factor that the growth of the health supplements market could be chalked up to is the increased marketing toward women by supplement manufacturers. Growing awareness regarding the importance of taking preventative measures related to health, coupled with the increasing size of the aging population worldwide is highly instrumental in the growth of the health supplements market. Also, the continuously growing influence of media advertising about pharmaceuticals along with the significant advancements in the products are are having a tremendous influence on the health supplements market.

Industry Trends

A key trend permeating the market for American health supplements brand is the growing popularity of organic supplements. Organic diets are outpacing regular food at a steady pace, with millennials accounting for a sizeable portion of the consumers across the world. Hence, a number of companies are now focusing on producing more organic certified supplements to gain a competitive advantage in the health supplements market.

Key Players

BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), Alticor Inc. (U.S.), The Nature's Bounty Co. (U.S.), Abbott Laboratories (U.S.), Herbalife International (U.S.), GlaxoSmithKline Limited (U.K), Bayer AG (Germany), Glanbia plc (Republic of Ireland), are few of the players in the health supplements market.

Market Segmentation

The global market for health supplements is segmented on the basis of types, application, ingredients and end user.

By type, the market is segmented into dietary supplements, bodybuilding supplements, eye health supplements, specialty supplements, and others. The market for dietary supplements is growing at a health rate due to rising alertness regarding calorie reduction among athletes and gym professionals, promoting the application movement, especially in sports nutrition industry.

By application, the market is segmented into cardiology, rheumatic disorders, allergy, and others.

Regional Analysis

The Americas is leading the global health supplements market backed by the strong presence of major players in the region, who are introducing quality products that capture maximum market share. Also, the government support for research & development along with the availability of funds for research is fostering the health supplements market as well. Countries such as the United States (U.S) and Canada are increasing their investments in the healthcare sector, thereby, propelling the overall growth of the health supplements market in the region.

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