Supplement Market in the US 2017-2021
Supplements provide additional nutrients to diets, which may lack or have insufficient nutrients. There are a variety of supplements in the market like traditional tablets, capsules, drinks, powders, and energy bars. These supplements contain amino acids, enzymes, fatty acids, fiber, herbs, minerals, and vitamins. Supplements can be purchased from retail stores such as supermarkets, pharmacies, and health supplements stores as well as in various online channels.
Technavio’s analysts forecast the supplement market in the US to grow at a CAGR of 6.67% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the supplement market in the US for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.Technavio's report, Supplement Market in the US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Supplement Market in the US 2017-2021
Technavio recognizes the following companies as the key players in the supplement market in the US: Amway, GNC, Herbalife, and The Nature's Bounty Co.
Other Prominent Vendors in the market are: PurePharma, Bio-Engineered Supplements and Nutrition, Clif Bar & Company, RECKITT BENCKISER, A1Supplements, Liquid Health, Nutrex Hawaii, Piping Rock Health Products, New Zealand Health Food, Ocean Health, SDC Nutrition, Applied Nutriceuticals, and Top-Secret Nutrition.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased participation in sports and fitness activities. Engagement in sports and physical fitness activities plays a significant role in promoting health and wellness among children and adults. Such activities along with the improvement of physical fitness and health of an individual are also an integral strategy for stemming childhood obesity, which is a critical health priority in the country.”
According to the report, one driver in the market is rising awareness through social media marketing. The vendors in the market are focusing on targeting potential user groups of aged men and women to increase the sales of supplement products. Further, various associations and organizations are creating awareness among end-users through online channels. Social media marketing is helping manufacturers reach out to a larger consumer pool and attract new consumers. The social media is also helping manufacturers to increase the awareness about these services and their benefits.
Further, the report states that one challenge in the market is stringent government regulation. One of the biggest challenges in the supplements market in the US is the stringent government regulations. The vendors are required to comply with the stringent rules and regulations imposed by various authorities. These regulations pertain to permits, entry of new players, residual management issues, and expiry dates for certain supplement products. For instance, the FDA plays an important role in regulating the manufacturing and distribution of supplements and their ingredients.
Amway, GNC, Herbalife, and The Nature's Bounty Co, PurePharma, Bio-Engineered Supplements and Nutrition, Clif Bar & Company, RECKITT BENCKISER, A1Supplements, Liquid Health, Nutrex Hawaii, Piping Rock Health Products, New Zealand Health Food, Ocean Health, SDC Nutrition, Applied Nutriceuticals, Top-Secret Nutrition