The dietary supplement market is governed by specialty ingredients to meet the consumer needs for nutritional supplements. Specialty ingredients mainly include vitamins, herbs, botanicals, meal supplements, amino acids, enzymes and others. In an average, adults in U.S. take one or more supplements daily or occasionally.
The US dietary supplements market is expected to grow at a CAGR of 8.45% during the forecast period 2020-2030. According to Office of Dietary supplement’s National Institutes of Health, the popular supplements include Vitamin D and E, plant nutrition products such as garlic and echinacea, specialty products like fish oils, glucosamine and probiotics. Growing prevalence of chronic diseases like cardiovascular, cancer owing to fluctuating diet and inactive lifestyle in adults is expected to promote rise in dietary supplement market in United States. Moreover, the rapid advancements in dietary supplements manufacturing in personalized nutrition area will drive the dietary supplement markets. The safety concerns regarding supplements, incidence of misbranded and spurious drugs are major restraints in the growth of dietary supplements market in U.S.
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Market Key Players:
Nestlé Health Science, Danone Nutricia, Carlyle Group, Amway (Nutrilite), Archer Daniels Midland, Abbott Laboratories, Herbalife International, Danisco, Glanbia, Bayer AG, GlaxoSmithKline plc, Pfizer Inc., Balchem Corporation, Natures Product Inc., Bactolac Pharmaceutical Inc. are key players in the market.
U.S. Dietary Supplement Market-Competitive Landscape
The U.S. dietary supplement market in observed to grow rapidly owing to increasing in demand for personalized nutrition. Apart from this, presence of large number of companies like Nestlé Health Science, Danone Nutricia, Carlyle Group and Natures Product Inc. have fuel the market growth. The dietary supplements company focus on specific special ingredient like plant nutrition, multivitamins depended on its target consumer requirements.
The company Amway focuses on continuous innovation of its existing blockbuster products like of its brand Nutrilite to improve its quality and increase its market revenue.
In May 2015, Amway opened its Nutrition manufacturing site and Research and development center in California with a view of manufacturing Nutrilite brand vitamins, minerals, dietary supplements and R&D to engage in quality assurance and continuous research in nutrition brand.
In October 2014, Nature’s Products declared acquisition of Nutri-health and Sedona Labs, with this acquisition Nature’s Products added a range of probiotics formulation and digestive enzymes under Nutri-health and Sedona Labs brand.
In February 2017, Glanbia announced acquisition of Amazing Grass in U.S and Body & Fit in The Netherlands. The acquisition of Amazing Grass will enable Glanbia in expanding its nutrition products portfolio in U.S.
In December 2017, Nestlé stated acquisition of Atrium Innovations, Canadian vitamin maker for USD 2.3 million increasing its U.S dietary market revenue as 80 percent of Atrium sales comes from U.S.
In April 2017, Archer Daniels Midland launched Onavita DHA algal oil, a new addition in omega 3 product line which produced from high quality source from U.S. The launch of the product will lead to company’s expansion in supplement sector in United States.
In April 2018, Abbott launched Ensure Max protein, a 150 calorie nutrition drink for the American population which helps in maintaining muscle mass of the body. This launch will benefit Abbott to increase its sales owing to busy life style of Americans.
Balchem Corporation is engaged in manufacturing and selling products categories like food, nutrition, pharmaceuticals, and specialty ingredients. Recently in June 2017, Balchem Corporation declared acquisition of Innovative Processors, Inc., manufacturers of performance powder. This acquisition will help Balchem to develop value added systems to food, beverage and nutrition in U.S. market.
Regional Analysis
U.S dominated the global dietary supplements owing to increase in metabolic diseases, high expenditure in consumer sector, secondary life style and growing geriatric population. According 2017 annual survey Conducted by Ipsos public affairs for Council Responsible for Nutrition (CRN), 170 million U.S. adults were found to consume dietary supplements and the most frequently consumed category was vitamin followed by specialty supplements, botanicals, sports nutrition supplements and weight management supplements. The growing demand for dietary supplements among the U.S teenagers and adults aged 20 to 35 further drives the market in this region.
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