The North America dietary supplements market is expected to reach USD 68.22 billion by 2025, according to a new report by Grand View Research, Inc. Rising consumer awareness regarding proper weight management and improvement of muscular strength is likely to boost the demand of nutrients such as vitamins, minerals, and enzymes in North America, over the years ahead.
Consumers belonging to all age groups are focusing on enhancing their diet intake through utilization of nutritional food ingredients, owing to increasing publicity through media houses and e-commerce portals is expected to promote the scope of nutraceuticals including dietary supplements.
Leading corporates including Microsoft, IBM, ExxonMobil, AT&T, GM, and GSK have increased expenditure for the development of gymnasiums and fitness centers in their commercial offices. As a result, the health & wellness segment is expected to witness a noteworthy increase that is ultimately expected to play a crucial role in promoting the use of dietary supplements over the forecast period.
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Further key findings from the report suggest:
In terms of revenue, minerals segment is estimated to be one of the fastest growing segments and is likely to expand at a CAGR of 6.7% over the forecast period, owing to significant usage of mineral-based dietary supplements in the U.S. and Canada
Liquid product segment is expected to provide considerable scope for market growth and is estimated to account for a revenue of USD 10.40 billion by 2025, as a consequence of rising clinical nutrition products demand for prevention of malnutrition
Medicinal supplements application constituted a revenue of USD 6.40 billion in 2016 and is likely to expand at a robust growth rate by 2025, owing to rising health risks pertaining to cardiovascular, obesity, and gastrointestinal disorders
Mexico is projected to witness fastest industry growth during the forecast period, owing to rising usage of ingredients such as botanicals and vitamins among children, infants, and adult age groups
Amway Corporation, Pfizer Inc., NBTY, Inc., and Herbalife International are the key players that collectively accounted for over 15% market share of the global industry in 2016
Companies are focusing on strengthening their presence as key players, by forward integrating their business operations across the value chain and through implementing strategies such as distribution agreements and new product launches. In April 2016, Amway Corporation launched a new sports nutrition product line to cater to the regional demand.
Grand View Research has segmented the North America dietary supplements market on the basis of ingredient, product, application, end-use, and region:
Ingredient Outlook (Revenue, USD Million; 2014 - 2025)
Product Outlook (Revenue, USD Million; 2014 - 2025)
Application Outlook (Revenue, USD Million; 2014 - 2025)
End-use Outlook (Revenue, USD Million; 2014 - 2025)
Region Outlook (Revenue, USD Million; 2014 - 2025)
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