Dietary Supplements Market to Record Steady Growth by 2027

The report "Dietary Supplements Market by type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Function (Additional Supplements, Medicinal Supplements, Sports Nutrition), Mode of Application, Target Consumer and Region - Global Forecast to 2027", is estimated at USD 155.2 billion in 2022; it is projected to grow at a CAGR of 7.3% to reach USD 220.8 billion by 2027.

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The ageing population in the eastern and western countries have propelled the market growth of dietary supplements. According to the UKs Food Standard Agency (FSA), the majority of supplement consumers, are over 55 years old. These supplements are bought in the belief that old age can be joyful and pain-free, with a body of research pointing to memory enhancement, joint strengthening, and a vitality boost of glucosamine, ginkgo, and ginseng.

The Botanical segment by type is projected to achieve the Highest CAGR growth in the Dietary Supplements market.

The demand for the botanicals ingredients included in the dietary supplements solutions had driven because of their consumer-perceived benefits, such as functional benefits and being "closer-to-nature," as well as their ability to impart pleasant flavours. Furthermore, attractive flavours and colors produced from natural sources are a vital part in dietary supplements solutions. Some of the advantages of botanical dietary supplements are, Low cost compared to prescription drug, It can be obtained without a prescription, Has the potential to be effective, despite the lack of evidence, and Contribute to a sense of self-sufficiency.

By function, the additional supplements segment is estimated to account for the largest market share in the Dietary Supplements market.

This category includes supplements that can be consumed without a doctors prescription. Minerals, herbs or other botanicals, amino acids, enzymes, and a variety of other ingredients can be found in dietary supplements. Tablets, capsules, gummies, and powder, as well as drinks and energy bars, are all forms of dietary supplements. According to the National Center for Health Statistics, 57.6% of US adults aged 20 and above used a dietary supplement, with women (63.8%) using more than men (50.8%). Dietary supplement use increased with age in both sexes but was highest in women aged 60 and above (80.2%)

The tablet form segment by mode of application is estimated to account for the largest market share of the Dietary Supplements market over the forecast period.

Longevity of tablet form drives market growth. Compressed tablets are typically meant to be swallowed without being broken, chewed, or dissolved. This tablet type will usually only begin to break down after reaching the stomach (or some other stretch of the gastrointestinal tract). Compressed tablets have the advantage of being generally stable and available in various sizes and shapes. As a result, a wide range of dietary supplements can be easily incorporated into tablet form. For this reason, compressed tablets are popular

The elderly segment is projected to observe the highest CAGR growth in the Dietary Supplements market during the forecast period.

Dietary supplements in pill or liquid form are popular among the elderly. These are often nutrients under-consumed among older adults, such as calcium and vitamin D (in high demand) & B12. In older adults, vitamin D helps support skeletal health by building and protecting bones. According to the National Health and Nutrition Examination Survey, nearly 20% of elderly Canadian, European, and American adults have a vitamin D deficiency. Medical experts recommend 20 to 25 micrograms of vitamin D per day. The Commodity Supplemental Food Program (CSFP) provides nutritious USDA packaged food to low-income older adults to support a healthy dietary pattern.

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Asia Pacific is projected to achieve the highest CAGR growth in the Dietary Supplements market.

The rising influence of westernization, the growing millennial population, and increasing awareness are the key drivers of market growth. According to the UN, in 2019, 60% of the 1.8 billion global population of millennials reside in Asia. This population is active, enthusiastic about fitness, and continuously seeking innovative products. As a result, millennials are prominent consumers of dietary supplements in the region. Veganism has also become popular in the region, alongside rising demand for plant-based food products, especially in India, China, Australia, and Indonesia. This key factor would eventually pave the way for herbal supplements to grow significantly in value sales during the forecast period in the Asia Pacific.

Key Market Players:

The key players in this market include Amway Corp (US), Herbalife International of America, INC. (US), ADM (US), Pfizer INC (US), Abbott (US), Nestle (Switzerland), Otsuka Holding Co, LTD (Japan), H&H Group (China), Arkopharma (France), Bayer AG (Germany), Glanbia Plc (Ireland), Natures Sunshine Products Inc (US), Fancl Corporation (Japan), Danisco (Denmark), Bionova (India), American Health (US), Pure Encapsulations LLC (US), GlaxoSmithKline, PLC (UK). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

Meal Replacement Market to Witness Unprecedented Growth in Coming Years

According to MarketsandMarkets "Meal Replacement Market by Product Type (Ready-to-Drink, Bars, Powder), Distribution Channel (Offline and Online), and Region (North America, Europe, Asia Pacific, South America, and RoW) - Global Forecast to 2026", The global meal replacement market has been influenced by changing consumer lifestyles, people are inclined toward meals that are full of nutrition, vitamins, minerals, and other dietary supplements. The growth in the number of health-conscious consumers across the globe is proliferating the demand for meal replacement products.

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Powder segment is the largest market for meal replacement market globally.

Powders are consumed in the form of shakes with the addition of water or low-calorie milk. The rapid adoption of meal replacement powder as a part of weight management will drive the market for meal replacements products. Meal replacement powder is mixed with water or milk of choice (low-calorie, plant-based, low-fat, toned milk, flavored milk, among others) for consumption. These are available in various flavors, the most popular being chocolate, vanilla, and strawberry. Various companies are into the manufacturing of powder form meal replacement products such as Nestle and Huel. Nestle offers meal replacement chocolate cacao powder and has presence in various regions such as Middle East, Africa, North America, Asia Pacific and Europe.

Online segment is witnessing a high growth rate for the meal replacement products during the forecast period.

Online segment is witnessing a high growth rate owing to the rising smartphone and internet penetration, which is increasing the sales of online meal replacement products. COVID-19 has changed the purchasing pattern of the consumers globally. Consumers are now purchasing products online and choosing the health safety and convenience over the offline purchasing experience globally. In addition to this, increasing internet penetration in under developed countries will also drive the online segment growth.

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North America holds the largest market share for meal replacements products in 2021

In 2021, North America accounted for a market share of 29.28% in the global meal replacement market. The market in the region is highly diversified, and manufacturers are strongly focusing on the development of new meal replacement products to cater to the demand from end users. Although North America holds the largest share, the meal replacement market is matured and is projected to grow at a steady CAGR of 4.6% during the forecast period.

The key players in this market include Abbott Laboratories (US), Amway (US), Glanbia PLC (Ireland), Herbalife Nutrition (US), and Nestle (Switzerland).

Coconut Oil Market to Showcase Continued Growth in the Coming Years

The report "Coconut Oil Market by Product Type (RBD, Virgin, and Crude), Source (Dry Coconut and Wet Coconut), Application (Food Beverages, Cosmetics Personal Care Products, and Pharmaceuticals), Nature and Region - Global Forecast to 2027", is estimated to be valued at USD 5.7 billion in 2022. It is projected to reach USD 7.4 billion by 2027, recording a CAGR of 5.5% during the forecast period. The global coconut oil market has been influenced by some of the macroeconomic and microeconomic factors witnessed in some key countries. This would prove strong enough to drive the market significantly in terms of value sales during the forecast period. With the rise in demand and preference for natural cosmetic ingredients, the trend of clean-label and plant-based products has significantly boosted the utilization of coconut oil derivatives in the food industry. Coconut oil is used as a thickener and binder, and this enhances its properties, such as smoothness, hardness, gloss, and whiteness.

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Pharmaceutical market is a relatively untapped and small market in comparison to other non-food applications and the rapidly growing food beverage market.

Coconut oil is used as one of the components of cosmetic ingredient, majorly as a smoothening agent and as a source of smooth skin and to improve the dryness of skin and hairs. Companies are focusing on the development of extraction and processing of coconut oil to discover new beauty applications. Coconuts are the primary source of coconut oil. Coconut oil in food and beverages acts as a cooking oil replacer in order to enhance the flavor. It is a source of carbohydrates, which helps in improving digestibility.

Increasing use of Coconut oil in bakery products

Coconut oil is gaining popularity in the US due to several health benefits offered by it; it helps in reducing weight, strengthening the immune system, preventing heart disease, and staving off dementia and Alzheimer’s disease. In the food industry, coconut oil is used extensively in baked products, processed foods, and infant formulas. The use of organic coconut oil in the bakery coupled with the increasing growth of the bakery industry is projected to propel the demand for coconut oil.

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North America is expected to be the third largest market during the forecast period.

North American coconut oil market is completely driven by the US market. The US coconut oil industry has witnessed technological advancement, which has increased its usage in various industries. In the US, coconut oil is primarily used in organic form in the confectionery products a s a health beneficial. It is also used as a base for gelling agents in confections, for thickeners in products such as pastry and pie fillings, and in instant puddings. The growing trend of ready-to-eat meals and processed food is also driving the coconut oil market in the region. Coconut oil is frequently used in food applications due to its functional properties.

The key players in this market include Tate Lyle (UK), Emsland (Germany), Ingredion Incorporated (US), and Avebe (Netherlands).

Growth Opportunities in the Gummy Supplement Market

According to a research report "Gummy Supplements Market by Type (Vitamin Gummies, Omega Fatty Acid Gummies, Collagen Gummies, CBD Gummies), Starch Ingredient (Supplements With Starch, Starchless Systems), Distribution Channel, End User, Functionality & Region - Global Forecast to 2028" published by MarketsandMarkets, the global Gummy supplement market is projected to reach USD 48.5 billion by 2028 from USD 24.6 billion by 2023, at a CAGR of 14.5% during the forecast period in terms of value. The World Health Organization (WHO) estimates that more than two billion people worldwide suffer from micronutrient insufficiency. Iron, vitamin A, and iodine deficiencies are the most prevalent worldwide, particularly in youngsters and pregnant women. Micronutrient deficits are disproportionately prevalent in low- and middle-income counties. Micronutrient deficiencies can induce evident and serious health issues, but they can also produce less clinically noticeable decreases in energy, mental clarity, and overall capacity. This may result in poorer academic performance, decreased productivity at work, and a higher chance of contracting other illnesses and medical disorders. A lot of these inadequacies can be avoided by taking supplements. Thus, consumers are gradually adopting gummy supplements which provide the required number of vitamins, minerals, and other micronutrients in a convenient and tasteful form.

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Vitamin gummies segment is anticipated to have the largest share among gummy types in 2023

The global market for gummy vitamins is currently experiencing tremendous growth. Gummy vitamins typically have delicious fruity flavors and all the necessary micronutrients. Therefore, a lot of individuals choose gummy vitamins over conventional vitamins, especially kids and elder people who have problems swallowing tablets. In the upcoming years, the nutraceutical business is expected to see a significant increase in sales of vitamin gummies. Working-class consumers who seek to balance health factors like folic acid, metabolic health, and glycemic index in an effort to address problems like bone strength, immunity, and vitamin deficiencies will also contribute significantly in the expansion of the gummy supplements market.

The kids segment is projected to grow at the fastest rate among all the other end-users in the Gummy Supplements market in 2023

Gummy supplements have grown in popularity as a convenient way to provide kids with the vitamins and minerals they require without having to consume a range of foods. Gummy supplements meet the changing demands of children. They supply comprehensive nourishment in an uncomplicated way to the kids. They are superior to normal vitamins and more appealing to capture kids' interest and make them easier to ingest. Unlike tablets or pills, gummies are easier for kids to swallow since they are shaped like sweets. Additionally, according to the scientific article titled “Intraindividual double burden of overweight and micronutrient deficiencies or anemia among preschool children”, published in 2020, an estimated 29% of preschool children worldwide are vitamin A deficient, 18% are anemic, and 17% are at danger of low zinc intake. Thus, the soaring rates of micronutrient deficiencies can be reduced with the help of gummy supplements, augmenting its market growth.

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North America region is witnessing the highest growth rate in the Gummy Supplements market

According to a 2022 report from the American Psychological Association, financial troubles, along with a deluge of horrible visuals from Ukraine as Russia, have pushed a majority of Americans to new levels of stress. Hence, although immunity gummies are increasingly popular in the US after the pandemic, interest in gummies that assist mental health and sleep has also been rising.

Additionally, according to the CDC,  the prevalence of metabolic syndrome is estimated at more than 30% in the United States Thus, A vitamin, mineral, or supplement product is normally taken by more than three out of every four Americans to maintain their health. Considering gummies are the most convenient and flavorful form of supplements providing a variety of functionality, the market is rapidly flourishing in this region.

Food Enzymes Market: Growth Opportunities and Recent Developments

The report "Food Enzymes Market by Type (Carbohydrases, Proteases, Lipases, Polymerases Nucleases), Source, Application (Food Beverages), Formulation, and Region(North America, Europe, Asia Pacific, and South America) – Global Forecast to 2026", The food enzymes market is estimated to be valued at USD 2.2 billion in 2021 and is projected to reach USD 3.1 billion by 2026, recording a CAGR of 6.4%, in terms of value. The growing demand for diverse range of food products, clean label trend, and increase in disposable income are the factors that are projected to drive the growth of the food enzymes market globally.

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The microorganism segment is projected to witness significant growth during the forecast period.

Based on source, the food enzymes market is segmented into microorganism, plant, and animal. The microorganism segment is projected to witness the fastest growth during the forecast period, as enzymes obtained from microbial sources lead to low production costs and are stable than other sources. They can be produced through fermentation techniques in a cost-effective manner with less time and space requirement, and because of their high consistency, process modification and optimization are easily done.

The carbohydrases segment is projected to account for a major share in the food enzymes market during the forecast period

By type, the food enzymes market is segmented into carbohydrases, proteases, lipases, polymerases nucleases, and other enzymes (such as catalases, laccases, oxidases, phosphatases, kinases, esterases, and pectinases). Carbohydrases are classified into amylases, cellulases, and other carbohydrases (such as pectinases, lactases, mannanases, and pullulanases). Amylase is used in the baking industry as the addition of amylase to the dough, enhances the fermentation rate which results in the reduction of the viscosity of dough, further improving the volume and texture of the product. Due to easy modification and optimization processes, there is a huge usage of amylase in the food beverage industry.

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The North American region dominated the food enzymes market with the largest share in 2020, whereas Asia Pacific is expected to witness the highest growth rate.

The food enzymes market in North America was dominant due to the increasing demand for enzymes in food applications. Technological innovations in machinery, optimization of production, logistics, and globalization of business have made the food beverage industry one of the essential sectors in North America. However, the shift of food operations from developed regions, such as North America and Europe, to Asia Pacific, has further contributed to the growth of the food enzymes market in the Asia Pacific region.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as DuPont (US), Associated British Foods plc (UK), DSM (Netherlands), Novozymes (US), CHR. Hansen Holdings A/S(Denmark), Kerry Group (Ireland), Jiangsu Boli Bioproducts Co., Ltd. (China), Biocatalysts Ltd. (UK), Puratos Group (Belgium), Advanced Enzyme Technologies Ltd (India), Amano Enzyme Inc. (Japan), Enzyme Development Corporation (US), ENMEX, S.A. de C.V. (Mexico), Aumgene Biosciences (India), Creative Enzymes (US), SUNSON Industry Group Co., Ltd (China), AUM Enzymes (India), Xike Biotechnology Co. Ltd. (China), and Antozyme Biotech Pvt Ltd (India).  

Water-soluble Fertilizers Market to Witness Unprecedented Growth in Coming Years

According to a research report "Water-soluble Fertilizers Market by Type (Nitrogenous, Phosphatic, and Potassic), Mode of Application (Foliar and Fertigation), Form (Dry and Liquid), Crop Type (Field Crop, Horticulture Crops, Turf & ornaments) and Region - Global Forecast to 2028" published by MarketsandMarkets, the water-soluble fertilizers market is estimated at USD 18.3 billion in 2023 and is projected to reach USD 23.9 billion in 2028, at a CAGR of 5.5%. Water-soluble fertilizers hold an optimum combination of nitrogen, phosphate, and potassium (NPK) along with essential micronutrients. It is readily soluble in water and used for drip irrigation. The increasing cases of nutrient deficiency in crops and plants, along with the growing need for increased agricultural output are factors driving the water-soluble fertilizers market. Since these fertilizers are dissolved in water, the nutrients are readily and efficiently absorbed by the crops. Additionally, the increasing adoption of precision farming, horticulture, and hydroponics, are other factors fueling the demand for water-soluble fertilizers.

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The high demand for nitrogen at all stages of crop growth drives the market

The water-soluble nitrogenous fertilizer dominates the market by type. Nitrogen is a component of the chlorophyll molecule, which enables the plant to capture sunlight by photosynthesis. Nitrogen plays a critical role within the plant to ensure energy availability and yield optimization. Most of the nitrogen is absorbed by the plant through the soil.

The growing popularity of drip and micro irrigation is projected to boost the fertigation mode of application

Fertigation is the technique of supplying dissolved fertilizer to crops through an irrigation system. When combined with an efficient irrigation system, both nutrients, and water can be manipulated and managed to obtain the maximum possible yield. Fertigation is a widely used farming practice that allows growers to save time, resources, and, effort by completing two events at a time: fertilization and irrigation.

The increasing cultivation of horticulture is set to dominate the market during the study period

The science and art of growing and utilizing high-value food and ornamental plants in a sustainable manner is known as horticulture. Horticulture farming aims to enhance our life quality, as well as the beauty, sustainability, and recovery of our ecosystem and the human condition. In recent years, there has been an increase in the cultivation of fruits, vegetables, and decorative indoor plants, which drives the demand for water-soluble fertilizers to increase crop productivity.

Ease of storage increases the demand for the dry form of water-soluble fertilizers.

Fertilizers which are in solid form before application, mixing, or blending are termed as dry fertilizers. Dry ones include granules, powder, etc. Due to the ease of storage, longer shelf life, ease of mixing, and availability of customized blends, growers are increasingly demanding dry forms of water-soluble fertilizer.

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Asia Pacific provides the highest growth prospects for the water-soluble fertilizers market in 2023

Asia Pacific is highly dependent on agriculture, with countries like India and China being agricultural dominant countries. The prime factor contributing to the growth of water-soluble fertilizers in the region is the growing adoption of water-soluble fertilizers to meet the intensifying food demand and escalating population. Additionally, key players like Nutrien (Canada), Israel Chemical Company (Israel), Yara International (Norway), and others have a strong presence and market share in the region, which further boost the vitamin market in the Asia Pacific.

Key players in this market include Nutrien (Canada), Israel Chemical Company (Israel), Sociedad Quimicay Minera De Chile (SQM) (Chile), K+S Aktiengesellschaft (Germany), Yara International (Norway), Haifa Chemicals Ltd (Israel), Compo GmbH (Germany), Coromandel International Ltd (India), The Mosaic Company (US), Hebei Monband Water Soluble fertilizers Co., Ltd (China), Agafert (India), EuroChem (Switzerland), Azoty Group (Poland), Vakichim (Bulgaria), Gujarat State Fertilizers & Chemicals Ltd (India), IFFCO (India), SPIC  (India), Aries Agro Ltd (India), Mangalore Chemicals & Fertlizers Ltd (India), Incitec (Australia).

Animal Disinfectants Market Growth Opportunities by 2027

The report "Animal Disinfectants Market by Application (Dairy Cleaning, Swine, Poultry, Equine, Dairy Ruminants, and Aquaculture), Form (Liquid and Powder), Type (Iodine, Lactic Acid, Hydrogen Peroxide), and Region- Global Forecast to 2027", size is estimated to be valued at USD 3.2 billion in 2022. It is projected to reach USD 4.6 billion by 2027, recording a CAGR of 7.6% during the forecast period. The growth of the animal disinfectants market is attributed to the increasing trade of sanitation amidst this COVID-19 pandemic and increasing demand for meat and other animal products among countries such as Mexico, Brazil, Argentina, the UAE, India, and China. Animal disinfection is a technique that involve cleaning both the animals such as swine, equine, ruminants, poultry, and fishes and the surfaces to guarantee that microbial and other illnesses do not affect the animals or enter the food chain through the production process at the facilities. The animal disinfectants market is witnessing significant growth due to the increasing consumption of meat products in developing countries such as India, China, South Africa, and Brazil, compelling manufacturers to increase production.

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By type, the iodine segment is estimated to account for the largest share in the animal disinfectants market in 2022.

On the basis of product type segment, the iodine segment is estimated to dominate the animal disinfectants market in 2022. In recent years, China is being observed as an emerging country in the animal disinfectants market due to the increasing awareness in sanitation and increasing livestock production. For effective cleaning and disinfection, manufacturers use chemicals such as lactic acid, glycolic acid, phenolic acid, hydrogen peroxide, peracetic acid, and iodine in various chemical disinfection. However, the use use of iodine has dominated the use of all other compounds owing to its easy availability and wide applicability.

By application, dairy cleaning segment is projected to be the fastest-growing segment during the forecast period in the animal disinfectant market

During the forecast period, the dairy cleaning segment is projected to grow at the highest CAGR in the animal disinfectants market, in terms of value. Disinfectants are widely used in the dairy industry for cleaning dairy equipment. The cleaning of dairy cattle involves removing equipment and bedding before cleaning. The nature of the surfaces will influence the disinfection process. Rough and porous surfaces are difficult to disinfect in comparison to smooth surfaces. Both the milking parlor and milking machines must be cleaned daily to ensure more hygienic products.

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The Europe is estimated to dominate the animal disinfectant market in 2022

The Europe is estimated to account for the largest market share in the animal disinfectants market in 2022. The disinfectant industry in Europe offers the animal disinfectants market a large consumer base with opportunistic growth prospects. The growth of this market in the region is projected to be driven by developments in the livestock and meat industry in the Eastern European countries. Increasing consumption of meat products in this region has also compelled manufacturers to source and export of animal disinfectants to other parts of the world for an uninterrupted supply of advanced disinfectants.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Neogen Corporation (US), GEA (Germany), Lanxess AG (Germany), Zoetis (US), Kersia Group (France), CID Lines (Belgium), Albert Kerbl GmbH (Germany), PCC Group (Germany), Laboratoires Ceetel- CMPC (France), G SheperdAnimal Health (UK), Sanosil AG (Switzerland), DeLaval Inc. (Sweden), Diversey Holdings Ltd. (US), Fink Tec GmbH (Germany), Evans Vanodine International PLC (UK), Virox Animal Health (Canada) and Kemin Industries (US)