According to Goldstein Research, “Growing health concerns and rising demand for sports supplements driving the growth of global powder dietary supplements market.”
Moreover, growing aging population in U.S, Japan and Europe led the people looking for remedies and medical potions that can help them to stay healthy well into their old age years. Aging population and interest in preventive healthcare impel the growth of powder dietary supplements market.
“Global Powder Dietary Supplements Market Outlook 2024”
Global powder dietary supplements market is segmented into product types: additional supplements, medicinal supplements and sports nutrition. Medicinal supplements is the major segment of powder dietary supplements market majorly driven by the rising demand to cure chronic diseases related to bones and diseases born from lack of nutrition. Women centered medicinal and sports supplements are expected to witness significant growth particularly in prenatal and pregnancy supplements.
Global market of powder dietary supplements accounted for USD 51.2 billion in 2016 and further the market is estimated to surpass USD 60.0 billion by the end of 2024. Further, the market is expected to expand at a CAGR of 2.4% over the forecast period i.e. 2016-2024. Geographically, North-America powder dietary supplements market dominated the global market with 40% market share in owing to more than 60.0% market share in powdered sports supplement products in 2016. Asia-Pacific region is expected to showcase robust growth rate over the forecast period i.e. 2016-2024 with fastest growing countries such as China, Korea and Australia among others.
Overall Health/Wellness Benefits: Major Impel
Maintaining healthy lifestyle and rising awareness among consumers for healthier food products also driving the growth of powder dietary supplements market. Major players are highly investing in research and development (R&D) to sustain the competition in global market. For instance, nestle has more than 30 R&D centers across the globe and more than 50% of its expenditure is on R&D in various facilities including powder dietary supplements as well.
“Global Powder Dietary Supplements Market Outlook 2024” contains detailed overview of the global dietary supplements market in terms of market segmentation by product, by ingredients types, by end-users type, by applications type, by distribution channel type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Powder Dietary Supplements Market Report also includes provides competitive outlook of some of the major players of the global powder dietary supplements market which includes profiling of companies such as DuPont, Abbott Laboratories, ADM, Carlyle Group, GlaxoSmithKline, Amway Inc., Arkopharma, Bayer etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global powder dietary supplements market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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