Rising consumer preference for healthy diet continues to remain instrumental in driving consumption of ingredients with significant health benefits and liquid dietary supplements are no exception. With increasing obesity problem worldwide and growing health awareness, demand for liquid dietary supplements is likely to be on an upswing. Fact.MR foresees that the demand for liquid dietary supplements is projected to expand at a high CAGR of 7.4% in terms of value during the period of forecast, 2017-2022. Sales of liquid dietary supplements are estimated to surpass US$ 40 Bn by end of 2022, says the report.
Inadequacy of normal diet in providing additional nutrient flow is likely to influence the sales of liquid dietary supplements. Liquid dietary supplements offer essential micronutrients such as vitamins and minerals, which in turn has pushed their demand among various demographics worldwide. In addition, individual nutrients used to treat a specific deficiencies can be sold as liquid dietary supplements. For instance, folic acid is used to lower the risk of “Spina Bifida”, a birth defect.
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Favorable government rules and stringent regulations with respect to safety of ingredients in liquid dietary supplements, gaining importance of weight loss, and increasing inclination of consumers towards use of liquid dietary supplements owing to high healthcare costs is expected to auger well for the growth of the liquid dietary supplements market during the forecast period.
Women as consumers of liquid dietary supplements are expected to largely contribute to the growth of the liquid dietary supplements market. According to the report, demand for liquid dietary supplements among women is projected to expand at a significant pace with sales estimated to cross US$ 20 Bn by end of the period of assessment. In addition, Fact.MR envisages that the liquid dietary supplements demand among men is likely to grow at a higher rate during the 2017-2022 timeline.
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Sales of liquid dietary supplements are likely to remain concentrated in the developed countries of North America region, particularly the United States. Increasing levels of obesity coupled with unhealthy lifestyle of people has resulted in increasing dependence on external nutrition such as liquid dietary supplements. This region is likely to reflect higher market attractiveness index for stakeholders in the liquid dietary supplements market. Moreover, European countries have also showcased higher inclination toward use of liquid dietary supplements on back of increasing participation in health and fitness clubs in the region.
Proliferation of e-commerce has significantly influenced sales of various products and liquid dietary supplements are no exception. According to the report, sales of liquid dietary supplements through internet are expected to soar at a significant pace. However, pharmacies drug stores are projected to be a highly lucrative distribution channel for liquid dietary supplements, with liquid dietary supplements sales likely to account for more than 40% via this channel by 2022. In addition to these, manufacturers of liquid dietary supplements can also expect potential revenue generation with health and beauty stores, says the report.
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Vitamins and minerals are expected to gain significant traction in the liquid dietary supplements space owing to increasing demand for these ingredients in prevention of several lifestyle disorders. Botanical supplements are also expected to catch steam with increasing adoption to treat chronic ailments such as cancer. Moreover, originating from plant sources, sales of botanical supplements are estimated to remain on an upswing, on the back of increasing preference for organic consumables.
Liquid dietary supplements are considered as nutrition enhancers and typically used for general wellbeing of an individual. Report reveals that individuals mainly consume liquid dietary supplements for general wellbeing rather than considering them as medicines. However, liquid dietary supplements also find use in enhancing bone and joint health, immunity boosting and improving digestion and as sports nutrition. Overall, stakeholders in the liquid dietary supplements market can expect momentous growth in the coming years, especially from developed countries.
Sneha Varghese is an experienced food & beverage consultant. She covers the latest trends and analysis impacting the food & beverages industry, informing and educating audiences through her writing.