Health Supplements Market Size, Trends and Growth Analysis By Type (Dietary Supplements, Eye Health Supplements), By Application (Cardiology, Allergy), By Ingredients (Vitamins & Minerals, Botanicals, Amino Acids), By End User (Hospitals, Clinics) - Global Forecast till 2023
Market Research Future (MRFR) has published a research report that foretells boost for the global health supplements market size with 7.8% CAGR (Compound Annual Growth Rate) between 2017 and 2023. The consumption of health supplements is increasing among consumers because they provide those nutrients to us on a regular basis which we do not regularly get in our food due to our food habits in a consumerist atmosphere. Hence, the market for health supplements is growing. Health supplements are supplements, not a replacement for food for a healthy diet.
One of the most important reasons for their rising demand and hence market is that they are helpful for the treatment of rheumatic disorders, allergy, and cardiology. Key factors that are driving this market include changing lifestyles, developing retail & pharmaceutical industries, ensuring adherence to recommended dietary requirements, growing awareness about the functional benefits of health supplements, growing concerns about maintenance of health to avoid later treatment, increasing concern towards health improvement, increasing urbanization, preventing occurrence of diseases, treating illnesses, peer pressure regarding health & fitness due to media, friends & family, and rapid advancements in product offerings.
The global health supplements market has been segmented based on applications, end users, form, ingredients, types, and lastly region. Based on applications, this market has been segmented into allergy, cardiology, rheumatic disorders, and others. Based on end users, the market has been segmented into clinics, hospitals, research centers, and other. The form-based segmentation segments the market into capsules, chewable, liquid syrups, tablets, and others. The ingredients-based segmentation of market comprises of amino acids, botanicals, enzymes, vitamins & minerals, and others. By types, the market has been segmented into bodybuilding supplements, dietary supplements, eye health supplements, specialty supplements, and others.
Key Players
The key players in the global health supplements industry include Abbott Laboratories (USA), Alticor Inc. (USA), BASF SE (Germany), Bayer AG (Germany), E. I. du Pont de Nemours and Company (USA), Glanbia plc (Republic of Ireland), GlaxoSmithKline Limited (UK), Herbalife International (USA), and The Nature's Bounty Co. (USA).
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