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 the US, to grow at a CAGR of more than 7% between 2016 and 2020. Supplements are available in the market in various forms, including traditional tablets, capsules, drinks, powders, and energy bars and contain amino acids, enzymes, fatty acids, fiber, herbs, minerals, and vitamins. Many people across the world take dietary supplements on a daily basis for various purposes, including compensating for nutritional deficiencies, weight loss, bodybuilding purpose, or enhancing their sexual life, hence the use for these supplements is on the rise.
The new market research report from Technavio provides a breakdown and analysis of the supplement by technology.
“Supplements are also popularly known as complementary or alternative medicines (CAM), and is used by many individual as an alternative to medicines. Nearly four in every 10 Americans use herbal and other types of supplements as a source of relief and cure from health issues such as colds, depression, influenza, and arthritis. Thus, the use of supplements as alternative medicines for diseases is boosting their demand among end-users in the US, hence leading to the overall market growth,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
Currently, the vitamin supplements segment dominates the market in the US with a market share of more than 47% of the 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 players in the supplement market in the US are 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 the 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
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