Dietary Supplements Market: A Well-Defined Technological Growth Map With An Impact-Analysis

A dietary supplement is produced to add nutrients to the diet and lower the risk of health problems such as osteoporosis and arthritis. It is available in the form of capsules, powders, gel tabs, pills, extracts, and liquids and contains minerals, vitamins, fiber, herbs, amino acids, enzymes. Dietary supplement is ideal for people don't get enough intake vitamins and minerals from the normal diet. Weight loss, sports nutrition, general wellbeing, immune and digestive health, bone and joint health, heart health, and other specific requirements are some of the major applications of dietary supplements. They are easily available in health & beauty stores, internet, pharmacies/drugstores, hypermarket/supermarket, and direct selling.

The global dietary supplements market is projected to surpass US$ 290 billion by the end of 2027, in terms of revenue, growing at CAGR of 7.7% during the forecast period (2019 to 2027).

Dietary supplements' side effects and risks, as well as the fact that they are self-prescribed and contain a lot of incorrect information, are expected to stymie the market growth of dietary supplements. People looking for weight loss supplements, for example, may experience liver issues. As a result, dietary supplements have other side effects as well, and this factor is expected to limit the growth of the dietary supplement market.

Lack of awareness about dietary supplements in the developing world is expected to limit market growth over the forecast timeframe. Furthermore, rising demand for organic food is expected to limit the market growth of dietary supplements over the forecast timeframe.

Growing spending on healthcare products coupled with the rising research and development will offer enormous growth opportunity to the market of dietary supplements. The U.S. Centers for Medicare & Medicaid, the U.S. health care spending grew 4.6% in 2018, reaching US$ 3.6 trillion or US$ 11,172 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 17.7%. Hence, rising healthcare expenditure will favor market growth over the forecast period.