Global Vitamins and Herbal Dietary Supplements Market: Preventive Health takes Centre Stage, observes TMR
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.