This market research report segments the supplements market in the US by product type, including herbal and botanicals, meal replacements, sports nutrition, and vitamins. The report also discusses the major drivers and key trends influencing the growth of the market, as well as the challenges faced by the vendors and the market as a whole. The report provides a market share analysis of the leading companies such as Amway, GNC, Herbalife, NBTY, Otsuka, and Pfizer
Technavio’s market research analysts estimate the supplement market in US to grow at a CAGR of more than 7% between 2016 and 2020. Many people across the world take dietary supplements on a daily basis for various purposes, including compensating for nutritional deficiencies, losing weight, bodybuilding purpose, or enhancing their sexual life, hence the use for these supplements aka complementary or alternative medicines (CAM), is on the rise.
The new market research report from Technavio provides a breakdown and analysis of the supplements segments by technology.
“One of the fast-moving trends gaining grounds in this market is the rapid growth of e-commerce. Initially, vitamins, minerals, and herbal supplements (VMHS) was a very category difficult to shop online. But with retailers focusing on enhancing the online shopping experience through effective online education and targeted marketing, the sale of supplements has seen an exponential growth over the last few years,” says Faizan Akhtar, Industry Manager, New Coverage, Technavio Research.
The vitamin supplements dominate the supplement market in the US, occupying around 47% of te overall market share. About half of the American population takes multivitamins, and many individuals take specific vitamin supplements, recommended based on certain conditions. For instance, folic acid is recommended for expectant mothers or women who are planning pregnancy as it helps prevent neural tube birth defects.
The leading vendors in the supplement market in US include Amway, GNC, Herbalife, NBTY, Otsuka, and Pfizer. The global players are expanding their footprint in the US, hence regional vendors are finding it increasingly difficult to compete with them in terms of quality, technology, and pricing. Technavio predicts that these global players will eventually expand their presence in the US and augment their market share by acquiring regional or local players during the forecast period.
A more detailed analysis is available in the Technavio report, Supplement Market in US 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Dietary Supplements Market 2015-2019
- Health Supplement Market in Malaysia 2015-2019
- Global Sports Nutrition Market 2015-2019
- Global Bioactive Ingredients Market 2015-2019
Further readings:
