Powder Dietary-Supplements Market Hitting New Highs By 2028 | by Amway Corp, Pfizer Inc, ADM

New Jersey, United States - Analysis of Powder Dietary-Supplements Market 2022 to 2028, Size, Share, and Trends by Type, Component, Application, Opportunities, Growth Rate, and Regional Forecast

The size of the global market for powder dietary-supplements was estimated at USD 151.9 billion in 2021, and it is expected to increase at a CAGR of 8.9% from 2022 to 2030. An important market driver for powder dietary-supplements is expected to be the growing consumer awareness of their own health and wellness throughout the forecasted period. The working population throughout the world struggles to satisfy their demands for dairy nutrition because of their hectic schedules and changing lifestyles. Because of how convenient supplements are, the business is predicted to become more and more dependent on them to supply nutritional demands.

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Due to the larger buying power of the customers, the U.S. has become a major market for powder dietary-supplements in the North American area. Over the course of the given period, it is anticipated that increased healthcare product expenditure, an ageing population, rising interest in preventive healthcare, and rising interest in achieving wellness via food would all support market expansion. The need for energy and weight management is anticipated to rise in response to the expansion of gyms, health clubs, and fitness facilities as well as rising youth fitness awareness. The need for sports nutrition is anticipated to rise as professional sports become more widely accepted, which will assist the market for powder dietary-supplements.

The main success element for powder dietary-supplements is research and development, which demands significant financial outlays. Additionally, throughout the forecast period, strict rules governing the health benefits claim and product labelling are anticipated to present difficulties for powder dietary-supplements. The COVID-19 pandemic's exceptional breakout has mostly affected European nations and North America including the U.S., Italy, Spain, the U.K., France, and Germany. Since the market saw a rise in demand for supplements that promote immunity, the concentration of the dietary-supplement sector in these areas benefited from the scenario.

Segmentation

Due to the significant demand from working professionals and sportsmen for energy and weight management, vitamins led the market for powdered dietary-supplements in 2021 and accounted for over 30.8% of the revenue share. Due to the greater usage convenience index, customers choose to take their multivitamins as pills, powder, or liquid. The second-largest sub-segment, the botanical ingredient, is anticipated to grow at a CAGR of 9.2% throughout the projection period. Over the projection period, it's anticipated that the demand for the botanical component would rise due to an increase in vegan diet acceptance across the globe as a result of rising environmental concerns.

The category for proteins and amino acids is anticipated to experience the highest CAGR of 13.4% over the projected period. The market for powder dietary-supplements is anticipated to be driven by consumers' rising demand for protein supplements such as whey powders and amino acid products like citrulline, creatine, tyrosine, and proline as a result of rising knowledge of health and diet. Manufacturers of goods for weight loss and energy have recently placed greater emphasis on adding nutraceutical components to improve the nutritional content of their products. It has boosted the need for fibre and specialised carbs, which are indigestible to humans yet support weight loss, blood sugar regulation, and cholesterol reduction.

Regional analysis

With a sales share of 34.8% in 2021, North America dominated the market for powder dietary-supplements. A CAGR of 5.6% is anticipated throughout the projection period due to the rising popularity of foods with high nutritional value but less calories. The demand for powder dietary-supplements is also anticipated to rise throughout the projected period as a result of new product introductions, which are likely to raise awareness about the use of supplement products in Mexico. Over the forecast period, the market in Asia Pacific is anticipated to have significant revenue growth.

Over the forecast period, rising per capita spending in the area on health-improving goods combined with rising consumer awareness is anticipated to fuel demand for powder dietary-supplements. The European region, which contributed a sizeable portion of revenue in 2021, is anticipated to expand at a 6.9% CAGR throughout the projection period. Over the projected period, the market is anticipated to be driven by increased consumer awareness and rising per capita disposable income in developed nations like France, Germany, and the United Kingdom.

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Key Players

Amway Corp.
Pfizer Inc.
ADM
Nu Skin Enterprises, Inc.
GlaxoSmithKline plc
Glanbia PLC
Abbott
Arkopharma
Herbalife International of America, Inc.
Bayer AG
Bionova
Ayanda
Nature's Sunshine Products, Inc

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