Growth of the Global Dietary Supplement and Sports Nutrition Markets
An article in Nutraceuticals World discusses a report from Grand View Research, Inc., regarding predicted market growth for the dietary supplement industry.
The global dietary supplement market was worth $122.08 billion in 2015 according to Grand View Research, Inc. Their report predicts that the global dietary supplement market is expected to reach $278.02 billion by 2024. Key findings from the report, highlighted by Nutraceuticals World, include expected increases in distinct market areas. Below are examples of the market areas set to increase, and reasons behind these predictions:
- Amino acid based supplements – due to the increase of protein consumption by body builders and sports athletes.
- Gel caps and soft gels – due to more applications in chocolates, sweets and desserts.
- Asia- Pacific region – due to increasing awareness of natural products.
As well as dietary supplements, the sports nutrition product market in the U.S. and China is expected to rise to $37.16 billion by 2024. As stated in the article, there has been a recent increase in sales of sports nutrition products in the U.S. and Asia. This rise in sales is thought to be due to an increase in sports and fitness levels.
From these predictions of increasing market value, the dietary supplement and sports nutrition industry is obviously an interesting market place to be involved in. As sales of dietary supplements are set to grow, the requirement and importance of QC testing will inevitably grow with it. ICNE can help support all your rigorous QC testing requirements. Contact us to find out more.
Read the full article here.