NEW YORK, July 16, 2021 /PRNewswire/ — The supplements market size in the US is expected to increase by USD 15.93billion, progressing at a CAGR of over 6% during 2021-2025. Technavio’s report expects the Packaged Foods & Meats to have a POSITIVE impact due to the spread of the COVID-19 pandemic. The report also offers detailed information on the impact of the pandemic on businesses and the growth strategies adopted by vendors to flatten their recessionary curve.
The vitamin segment offered significant growth opportunities for market players in 2020. Factors such as the rising demand for vitamin D supplements among the geriatric population and the increased awareness about the benefits of well-being and preventive healthcare played a crucial role in driving the growth of the segment.
Supplements Market in US: Major Growth Drivers
The supplements market in US report identifies the following factors as major growth drivers during the forecast period:
- Increased participation in sports and fitness activities
- Growing urban population
- Increase in number of sales outlets
In addition, the report identifies the rising awareness through social media marketing as a major trend in the supplements market in the US. The US has more than 80% internet penetration, which has been crucial in increasing the number of users on social media platforms. This is encouraging vendors in the market to invest in social media marketing campaigns to increase sales and create brand awareness. Vendors are targeting potential user groups of aged men and women and creating awareness about their products and the health benefits associated with their use. All these factors are expected to foster the growth of the market during the forecast period.
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Supplements Market in US: Key Vendor Offerings
Amway Corp.: The company offers various vitamins and dietary supplement products through its NUTRILITE brand.
ECNutra: The company manufactures vitamin products, dietary supplement products, athlete supplement products, and bodybuilding supplement products.
Glanbia Plc: The company offers a variety of protein products through its brands, including Optimum Nutrition, BSN, Isopure, Nutramino, ABB, thinkThin, Amazing Grass, Body & Fit, and SlimFast.
GNC Holdings Inc.: The company offers various supplement products, including vitamins, protein, weight management products, and other supplements.
Herbalife Nutrition Ltd.: The company offers weight management, targeted nutrition, energy, sports, and fitness, and other nutrition products.
Reasons to Buy Supplements Market in US Report:
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist supplements market growth in the US during the next five years
- Estimation of the supplements market size in the US and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the supplements market across the US
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of supplements market vendors in the US
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