In recent years, the dietary supplement market has witnessed tremendous growth. The major factors influencing the growth of the market include rapid diversification and rising prevalence of various lifestyle diseases worldwide, rising approval from government bodies, growing awareness, and screening for diabetes mellitus, rise in research funding for diagnosis and treatment of these conditions. Furthermore, increasing government healthcare expenditure for the welfare of the population, has spurred the growth of this market. Healthcare expenditure across the globe is continuously increasing. From the last decades, healthcare expenditure in regions like the Americas and Europe has increased. According to the Centers for Medicare & Medicaid Services, in 2015, the U.S. healthcare spending is likely to increase 5.8% reaching USD 3.2 trillion. Since 2016, the healthcare spending in North America has been increased. Canadian healthcare specifically was stressed by an advancing demographic move. Therefore, growing healthcare expenditure.
Increasing incidence of diseases due to sedentary lifestyle and a lack of balanced diet has majorly influenced the growth of the market. According to the World Health Organization (WHO), in 2015, over 17.7 million people died from cardiovascular diseases, representing 31% of all global deaths. According to the same study, it was found that 82% of the total deaths occurred in the low and middle-income countries. [FURL=https://www.marketresearchfuture.com/reports/global-dietary-supplements-market-5703/]Dietary supplements in the age of personalized nutrition market[/FURL] plays an important role in the treatment of various lifestyle diseases such as atherosclerosis, cardiovascular disease, stroke; obesity and type 2 diabetes due to which there has been an increasing demand for dietary supplements in the age of personalized nutrition. Changing the dietary approaches and switching to therapeutic lifestyle prove effective in the prevention of hypertension and other cardiovascular disorders. Furthermore, many organizations such as the America Heart Association and the National Heart, Lung and Blood Institute have come up with strategic diets to minimize the risks for cardiovascular and other lifestyle related diseases.
Global Dietary Supplements in the Age of Personalized Nutrition Market was USD 100,741.2 Million in 2016
Vitamins are the largest segment, by product category which is projected to grow at a CAGR of 7.37% during the forecast period from 2017-2023
Female is the largest segment, by gender for the global dietary supplements in the age of personalized nutrition and expected to grow at a rate of CAGR 7.39% during the forecast period
The tablets segment accounted for the largest market share with 27.7% for the global dietary supplements in the age of personalized nutrition in the age of personalized nutrition market by dosage and is expected grow with a CAGR of 7.44% for the forecast period.
Some of the key players in this market are Nestlé Health Science, Danone Nutricia, Carlyle Group, Amway (Nutrilite), Archer Daniels Midland, Abbott Laboratories, Herbalife International, Amway, Danisco, Glanbia, Bayer AG, GlaxoSmithKline plc, Pfizer Inc., Balchem Corporation, Natures Product Inc., Bactolac Pharmaceutical Inc. and others.
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