Sep 17, 2018
Powder Dietary Supplements Market: Pharmacies Drug Stores to Maintain a 3.2x Lead over Online Channel through 2026, says Fact.MR
by Team Fact.MR
Powder dietary supplements are likely to witness high traction on the back of increasing focus on healthy aging coupled with growing awareness regarding adequate nutrition. The powder dietary supplements market continues to witness momentous growth, largely influenced by various macroeconomic factors including but not limited to rising purchasing power parity, economic growth and growing lifestyle disorders. Fact.MR reveals that the sales of powder dietary supplements are estimated to touch US$ 36 Bn by end of the assessment period with demand projected to rise at a high value CAGR of 8.3% throughout the period of forecast, 2017-2022.
Like every nutritional supplement, powder dietary supplements are also governed by Food and Drug Association that states that every new powder dietary supplement should comply with the terms provided in the DSHEA (Dietary Supplement and Health Education Act). Principal focus of this act being safety of ingredients used in powder dietary supplements, manufactures of powder dietary supplements are required to abide by FDA laws before commercialization. Moreover, FDA has also implemented labelling regulations to reveal the constituents present in powder dietary supplements. According to the report, higher safety standards and measures are likely to induce a sense of confidence among consumers, in turn supporting the growth in sales of powder dietary supplements and overall growth of the market.
The powder dietary supplements marketplace is also influenced by growing individual participation in fitness programs. This factor coupled with increasing registrations in fitness clubs is likely to pave potential growth opportunities for powder dietary supplements such as protein powders. For instance, according to analysis by IHRSA, in 2017 European health club market served around 56 million members with fitness clubs generating more than US$ 29 billion. This factor is likely to fuel demand for protein supplements, in turn aiding the growth of the powder dietary supplements market.
The demand for powder dietary supplements among men is projected to grow at a stellar pace on the back of rising inclination toward muscle enhancement. However, sales of powder dietary supplements are estimated to remain high among women demographic worldwide, says the report. Fact.MR reveals that powder dietary supplements sales among women demographic are estimated to cross US$ 16 Bn by end of the year of assessment.
Pharmacies drug stores are expected to remain potential distribution channel for powder dietary supplements as they provide consumer specific health services such as significant discounts for senior citizens. However, with significant rise in e-commerce business, new growth avenues for manufacturers of powder dietary supplements are in the offing.
Sales of powder dietary supplements, particularly for general wellbeing, are projected to increase at a significant rate during the assessment period. Largely driven by increasing nutrition and wellness programs initiated by key stakeholders in the powder dietary supplements market, the powder dietary supplements sales from consumers preferring general wellbeing are estimated to cross US$ 10 Bn by 2022.
Growth of powder dietary supplements market is also expected to witness an upswing on the back of increasing inclination of people toward consumption of vitamins and minerals. However, botanical powder dietary supplements are also poised to gain high traction during the forecast period.
Stakeholders in the powder dietary supplements market can expect steady stream of opportunities from developed countries of North America. The region is expected to showcase high market potential with powder dietary supplements sales soaring at a higher pace as compared to other regional markets. Closely followed by Europe, the North America region is likely to cement its dominance in the powder dietary supplements market during the assessment period. Moreover, manufacturers of powder dietary supplements can also target Asia Pacific excluding Japan (APEJ) region owing to its favorable business environment.