Should you be taking dietary supplements?
The short answer is yes. Most people think that adequate nutrients can be obtained via diet, which may not be entirely true. Food cooking can cause nutrition degradation by at least 30%, thus negatively affecting the nutrient value.
Fortunately, researchers have found that health and dietary supplements can help to bridge the nutritional gap to a healthier lifestyle.
According to Euromonitor data, consumers place a strong focus on boosting their immune health by looking out for ingredients such as black elderberry extract or Vitamin C. There is a significant number of new product launches that claim to boost the immune system or to improve upper respiratory health.
Key Market Insights
Based on the analysis done by Fortune Business Insights, the global dietary supplements market size is projected to grow at a CAGR of 8.68% from 2021 to 2028, expecting to hit approximately USD 128 billion. The rise in CAGR is attributable to dietary supplements witnessing a positive demand shock across all regions throughout the pandemic period.
The emerging consumer needs of addressing nutrient requirements and increased spending on health and wellness products are the primary factors driving the growth of supplements market. Due to the fact that consumers these days are more well-informed on nutritional knowledge, there is a shift from pharmaceuticals to nutraceuticals in preventive healthcare.
Market Leaders
The global dietary supplements industry is highly competitive. Key players are ranked based on several consideration factors such as extensive product portfolio and strong distribution network. In order to gain more market share, manufacturers will focus on foreign investments, new product launches, expansions and acquisitions of companies. Below is a list of some prominent players in the nutraceutical industry:
- Amway
- Abbott
- Bayer
- Pfizer
- Herbalife Nutrition
- Nestle
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