(USA, NY, New York City) As per the assessment carried out by Market Research Future Reports (MRFR), the dietary supplements market is projected to expand at a CAGR of 7.93%, holding a substantial market value during Forecast period.
The spurring incidence of cardiovascular diseases is the most notable factor driving the U.S dietary supplements market 2020. The other significant cause of cardiovascular diseases is the prevalence of diabetes and Obesity. The surging number of diabetes and obesity patients has resulted in the expansion of market by cumulating the demand for dietary supplements. The growing need for dietary supplements is estimated to lessen the cost of final products, and therefore, growing the demand immensely. Moreover, the increasing geriatric population, along with the rising number of diseased individuals is estimated to propel the market strength in the forthcoming period.
Further, the rapid urbanization and increased disposable income are some of the other crucial factors positively impacting the global market. The growing awareness about the health issues are likely to favor the development of market. In addition, the change in lifestyles, along with the increasing inclination towards sports and gyms is projected drive the demand for dietary supplements.
According to MRFR, the outbreak of COVID-19 is likely to have a positive impact on the market growth. The consumers are inclined towards boosting their immunity, and therefore, the market is projected to shoot during the pandemic.
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Key Players
The renowned players of the U.S dietary supplements market are Danone Nutricia, Carlyle Group, Archer Daniels Midland, Amway (Nutrilite), Amway, Glanbia, GlaxoSmithKline plc, Bayer AG, Danisco, Pfizer Inc., Natures Product Inc., Abbott Laboratories, Balchem Corporation, Bactolac Pharmaceutical Inc., Nestlé Health Science, Herbalife International, and others.
Segmental Analysis
The MRFR report provides an all-inclusive segmental analysis of the U. S. dietary supplements market on the basis of end user, dosage form, gender, application, and product category.
Based on the product category, the U. S. dietary supplements market is segmented into minerals, meal supplements, sports supplements, herbs and botanicals, vitamins, and others. Of these, the vitamin segment will have the largest share in the market over the forecast period. It is largely used for making dietary supplements as it is easily excreted by the kidneys. Vitamins find more applications among sports athletes and working professionals in the form of liquids, powders, and multivitamin tablets.
Based on the application, the U. S. dietary supplements market is segmented into genetic predispositions, inherited diseases, lifestyle diseases, and others.
Based on gender, the U. S. dietary supplements market is segmented into males and females. The male and female segment is again segmented into different age groups- 0-18 age group, 19-34 age group, 35-54 age group, and 55+ age group.
Based on dosage form, the U. S. dietary supplements market is segmented into soft gels, liquids, powder, capsules, tablets, and others.
Based on the end user, the U. S. dietary supplements market is segmented into home care, hospitals and clinics, and others.
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Regional Analysis
By region, the US dietary supplements market report covers the latest trends and growth opportunities across West, Midwest, Northeast, and South. The dietary supplements market in the US is amid the fastest growing industries. Factors aiding market growth here include rising income, consumerism, and GDP, increasing urbanization, aging population, increasing awareness as well as the prevalence of lifestyle-related diseases, and growing demand for health & wellness products. The aging baby boomer populace is predicted to be the drivers of this product owing to their huge numbers coupled with spending power that is likely to shift expenditure in healthcare, especially towards dietary supplements.
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