How Much Revenue North America Dietary Supplements Market Will Generate Globally Till 2028?Posted by Mrudula Anil Karmarkar on June 1st, 2023 The North America dietary supplements market size is expected to reach USD 77.1 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.6% over the forecast period. This demand is attributed to the growing demand for preventive health products and increasing healthcare costs in the region. Furthermore, growing awareness on the nutrition, health & wellness aiming to boost immune system and general health is expected to increase the demand for dietary supplements in coming years. The demand for dietary supplements skyrocketed post COVID-19 pandemic outbreak due to the increasing awareness about the significance of immunity in these times. Furthermore, the online sales of dietary supplements also experienced a hike of more than 55% in the year 2020. This is due to the movement restrictions imposed by the government in the region. Acquisition of medium and small-size companies is one of the key strategies being adopted by the players to expand product portfolio and increase manufacturing capacity. For instance, in April 2021, Unilever acquired the U.S. supplements brand and lifestyle company, Onnit, as it continues to expand its consumer health offerings. Companies have also been adopting several new technologies such as microencapsulation, which is targeted over-controlled release and protection of active ingredients in the dietary supplements. The increasing consumer awareness regarding personal health and wellbeing is one of the key drivers of the market. Furthermore, growing demand for preventive health products to lead healthy & disease-free life and rising number of fitness centers, health clubs, & gymnasiums are expected to drive the market over the forecast period. North America is one of the key regions in dietary supplements market with large number of players and contract manufacturers based in the region. The vertical integration within the value chain has pushed the supply chain to be more compact and efficient. The industry in North America is transforming to a less centralized, decluttering trend. To Request Sample Copy of this report, click the link: The manufacturers are focusing on incorporating new technologies and customized solutions to meet the consumer demands. Food and beverage packaging manufacturers are aiming to reduce the weight to save costs from reductions in raw materials and lower transportation costs. North America Dietary Supplements Market Report Highlights
The players directly offer products to consumers through their company websites and offline distribution channels. Manufacturers partner with online retailers, such as Amazon, to deliver products directly to end users. On the value basis, supermarkets, hypermarkets and food stores contribute over half of the regional sales of OTC dietary supplements industry in North America. Some of the key players in the market are Amway Corp., Abbott, Arkopharma, Bayer AG, Glanbia PLC, Pfizer Inc., ADM, and Ayanda. The market is highly competitive with major public as well as private players focusing on innovation and research & development of products. In April 2021, Nestle buys the leading vitamin maker in the U.S., Bountiful brands. It is the latest expansion of Nestle’s health and nutrition business. The presence of large number of contract manufacturers based in the region has been one of the key factors for the high growth of the North America dietary supplements market. This has also resulted in emergence of various private label brands in the region in past five years. List of Key Players of North America Dietary Supplements Market
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