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Rising awareness towards maintaining health and wellness among working professionals as a result of extensive brand campaigns by nutritional product manufacturers is having a substantial impact. The global dietary supplements market size is projected to accelerate at a CAGR of 9.6% from 2016 to 2024.
Dietary supplements are majorly consumed with a prime intention to enhance the intake of essential nutritional components in the human body. Here are the following factors that are affecting the dietary supplement Industry
Growing Interest
Interest in vitamins, minerals and supplements has never been greater. That attraction toward supplements to support a healthier lifestyle or aid in the prevention of disease is particularly prevalent among seniors.
This rise in consumer interest, particularly among baby boomers, also translates directly into sales growth. Multivitamins still provide plenty of opportunities via gummies, probiotics. Vitamins-based supplements are projected to account for 48.0% of global share by the end of 2024.
Millennials Impact
Millennials are taking a shine to the use of dietary supplements as a strategy toward being healthier. According to a survey conducted, supplement-consumption patterns among younger and middle-aged adult populations, with 70% of adults ages 18 years to 34 years old and of those aged 35 years to 54 years old reporting dietary supplement use.
Sports Nutrition
Sports nutrition is a category beginning to emerge as a viable destination centre within mass outlets. The trend line behind this mass growth is gravitation toward “cleaner” ingredients, and mass outlets lend a sort of credibility toward this perception. Clean foods have risen in popularity over the years as consumers have become more health conscious and savvy regarding how to power their bodies both on and off the field.
Millennial Moms
Supplement Industry is targeting millennial moms. There is perhaps a latent opportunity for retailers to create a new destination centre out of existing categories that would appeal to a new millennial mom. The maternity wellness market is a $2.5 billion opportunity. Products that are boosting preconception health; products supporting a pregnant woman’s health; and products supporting lactation and breastfeeding following her pregnancy are in major demand.
