The liquid dietary supplements market accounted for $21,685.72 million in 2019, and is expected to reach $27,732.27 million by 2027, registering a CAGR of 4.0% from 2020 to 2027.
Liquid dietary supplements are consumed orally to gain extra nutrition. These supplements are more effective than pills or powders, as they actively get absorbed directly into the blood stream. A range of liquid supplements are available with better taste and flavors. In addition, these are easy to consume, hence are beneficial of compared to other supplements.
Rise in number of health-conscious population drives the market growth. Moreover, increase in demand from elderly population, owing to better taste and ease of consumption also propels the market growth. Rise in consumption of probiotic drinks also impacts the market growth positively. Furthermore, rise in R&D for development of better liquid supplements for various nutritional deficiencies is expected to fuel the market growth during the forecast period. However, stringent rules and regulations by governments are expected to hamper growth of the liquid dietary supplements market.
The COVID-19 outbreak has led to decline in growth of various markets, including the liquid dietary supplements market. The market is negatively impacted by the pandemic as most countries adopted lockdown to combat the spread of the virus. In the beginning of the spread, it was difficult for companies to supply their products to market for consumption purpose by general population. Moreover, production of dietary products faced disruption in supply chain completely, owing to the closure of manufacturing operations. In addition, consumers focused only on highly essential products such as food and beverages. However, with relaxation in lockdowns and decline in COVID-19 cases, companies have re-started their processes to fulfil the demand of products in the market.
According to the World Health Organization, malnutrition is one of the greatest global health challenges. Approximately 155 million children under the age of 5 years were suffering from malnutrition in the year 2016. Combating this problem requires a consistent infusion of essential nutrients and vitamins in the bodies of children at a young age. Hence, is expected to boost the demand of liquid dietary supplements and drives the market growth.
Liquid dietary supplements are have become increasingly popular among the population across the globe, owing to the fact that people have become increasingly health conscious, hence are inclined toward buying these supplements. It has been a observed that people usually do not like taking nutritional supplements in the form of capsules or pills, which has, in turn, laid a strong foundation for development of liquid dietary supplements market and propels the market growth.
Vitamins & Minerals holds the dominant position in 2019 and would continue to maintain the lead over the forecast period.
Liquid Dietary Supplements Market Segmentation
The market is segmented on the basis of ingredient, application, distribution channel, and region. On the basis of ingredient, it is categorized into vitamins & minerals, botanical, proteins & amino acids and others. On the basis of application, it is categorized into bone & joint health, heart health, immune health, sports nutrition, weight loss, and others. On the basis of distribution channel, it is categorized into hypermarkets/supermarkets, health & beauty retail stores, drug stores, and online pharmacies & e-commerce sites. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Spain, Italy, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
On the basis of ingredient, the vitamins & minerals segment dominated the global market in 2019, and is anticipated to continue this trend throughout the forecast period. This was attributed to the rise in incidences of chronic diseases. Furthermore, it is used to improve body metabolism to decrease incidents of lifestyle disorders, which is expected to accelerate growth of global market. On the basis of application, the sports nutrition segment dominated the global market in 2019. This was attributed to the increase in demand for various types of liquid protein, dietary supplements, and drinks among athletes and bodybuilders. On the basis of distribution channel, the hypermarkets/supermarkets segment dominated the global market in 2019.
sports nutrition segment is projected as one of the most lucrative segments.
Snapshot of Asia-Pacific Liquid Dietary Supplements Market
Asia-Pacific is anticipated to be the most lucrative market for liquid dietary supplements. Major factors that attribute toward the fastest growth of this region is presence of large patient pool with unmet medical needs. In addition, growth in healthcare scenario in Asian countries, coupled with growth in GDP and government initiatives are expected to boost growth of the liquid dietary supplements market. Furthermore, increase in population, coupled with growth in geriatric population provide lucrative opportunities for key players operating in the liquid dietary supplements market. In addition, rise in healthcare expenditure and developing guidelines are expected to propel the market growth in the region.
The key companies operating in the market include Abbott Laboratories, Bayer, Herbalife International, Koninklijke DSM, BASF, DuPont Nutrition & Biosciences, GlaxoSmithKline, Amway, Glanbia, and Liquid Health, Inc.
North America region would exhibit the highest CAGR of 4.4% during 2020-2027
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global liquid dietary supplements market, with current trends and future estimations to elucidate the imminent investment pockets.
- Quantitative analysis from 2019 to 2027 is expected to enable the stakeholders to capitalize on prevailing global liquid dietary supplements market opportunities.
- The market size and estimations are based on a comprehensive analysis of key developments in the industry.
- Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the global liquid dietary supplements market framework.
Liquid Dietary Supplements Market Report Highlights
By DISTRIBUTION CHANNEL
Key Market Players
Koninklijke DSM, Amway, Bayer, DuPont Nutrition & Biosciences, Glanbia, Abbott Laboratories, BASF, GlaxoSmithKline, Herbalife International, Liquid Health, Inc
This section provides various opinions of top-level CXOs in the liquid dietary supplements market. According to CXOs, adoption of liquid dietary supplements is expected to increase. This attributed to the factors such as rise in consumption of liquid nutritional supplements for various applications such as sports, immune health, and body health; and rise in incidences of chronic diseases. In addition, various manufacturers offer personalized liquid nutritional supplement (can be based on a single nutrient or on a combination of various nutrients as per their personal requirement), which is expected to be future trend for growth of the market.
Players operating in the global liquid dietary supplements market are focused on product launches, approvals, and partnerships to gain market dominance and keep their products updated and in demand. For instance, in May 2019, Amway India introduced its new Nutrilite product, DHA yummies, which helps in supporting nutritional gap of vitamin D and omega-3 fatty acids in children aged 5 years or above. Thus, launch of such products would increase the customer base of the company in India. In addition, constantly changing lifestyle habits such as unhealthy dietary habits, excessive alcohol consumption, smoking, obesity, and lack of physical activity makes individuals more susceptible to chronic diseases, which in turn, drives the market growth.
North America is expected to dominate the global liquid dietary supplements market in the future, followed by Europe. Moreover, Asia-Pacific is expected to represent the highest market growth potential during the forecast period, owing to growth in patient pool and increase in awareness regarding healthcare. In addition, the rise in growth of the Asia-Pacific market is attributed to increase in per capita income and government initiatives to enhance quality of healthcare in the region. However, stringent rules and regulations by governments are expected to hamper growth of the liquid dietary supplements market.