As
more people realize the value of good health and well-being, the
interest in and demand for vitamins and herbal dietary supplements
has grown. Transparency Market Research finds that with growing
awareness, the market for vitamins and herbal dietary supplements has
been booming and several new companies have ventured into this
lucrative space. In a report titled “Vitamins and Herbal Dietary
Supplements Market - Global Industry Size, Market Share, Trends,
Analysis, and Forecast 2016–2023”, TMR predicts that this market
will register a healthy growth rate throughout the forecast period.
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As
indicated above, one of the most significant factors driving the
global market is increased consumer awareness. Preventive healthcare
has taken prime focus when it comes to lifestyle as well as dietary
choices and consumers are now looking for products that will fulfil
their various health and beauty needs. The rise of the informed
consumer has compelled manufacturers of dietary supplements to bring
to the table products that cater to their personalized demands and at
the same time, offer improved effectiveness and safety. This has
significantly benefited the market for vitamins and herbal dietary
supplements.
The
development of new sales and distribution channels has also augured
well for the global market, a TMR analyst points out. The
proliferation of ecommerce and the growing number of supermarkets,
hypermarkets, and drugstores have aided the vitamins and herbal
dietary supplements market. Internet sales have contributed
considerably to this industry and this trend is likely to stay true
throughout the forecast period.
Based
on geography, the Europe market for vitamins and dietary supplements
holds a substantial share, with consumers looking to improve their
daily diet and up their vitamins and nutritional intake. The trend of
consuming additional supplements in the region will, however, be
hampered by consumers looking to fulfill their dietary requirements
by eating a rich, well-balanced, and nutritious diet.
The
Asia Pacific vitamins
and herbal dietary supplements market is projected to be fueled
by a rise in urban-based consumers with higher disposable incomes and
greater awareness about nutritional deficits. In addition to this,
hectic lifestyles of the working class population in countries such
as India and China are anticipated to boost the demand for as well as
sales of vitamins and herbal dietary supplements in the region.
The
market in North America is propelled by a large geriatric population
looking for ways to postpone aging or to age gracefully. This,
combined with the presence of leading market players, the high
accessibility of products, and the growing consumer awareness about
health and wellness, is projected to support the market in this
region.
Some of the leading players in the global vitamins and herbal dietary supplements market are Nu Skin Enterprises, Inc., Herbalife Ltd., Amway, Nestle S.A., Archer Daniels Midland Company, Otsuka Holdings Co., Ltd., Glanbia plc, and Abbott Laboratories.
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