DUBLIN, Sept. 22, 2022 (GLOBE NEWSWIRE) — The global softgel dietary supplement market is projected to grow at an astounding 7% CAGR after an assessment period of 2022-2032 to reach US$15.8 billion. According to a newly released report on this industry by Fact.MR, it is expected to be valued at $8.03 billion in fiscal 2022.
From 2017 to 2021, the demand for soft capsule dietary supplements increased to US$7.5 billion at a growth rate of 6.5%. The extensive use of dietary supplements by athletes and athletes is leading to increased sales of dietary supplements with softgels. Increasing emphasis on clean label ingredients and rising awareness of the health benefits associated with taking these dietary supplements is expected to further fuel market growth.
Over the past two to three years, the unprecedented outbreak of Covid-19 has impacted health, encouraging a full switch to a healthy diet and additional supplements to address vitamin deficiencies. Additionally, strict regulations are likely to encourage products labeled with clean label tags. These tags ensure adulteration-free ingredients that may harm human health.
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Introduction of clean label ingredients will likely provide tremendous traction for sales of softgels dietary supplements
According to Food Insider Journal, around 75% of consumers are willing to pay a premium for clean-label ingredients. Clean Label is a consumer-led movement demanding a return to real food and transparency through authenticity. Dietary supplements, meaning they should contain natural, familiar and simple ingredients that are easy to recognise, understand and pronounce.
In recent years, several products have been launched with a clean label tag. These products have gained traction as they cater to changing consumer preferences. For example, in August 2021, Lonza launched its latest dosage form innovation, which now allows dietary supplement manufacturers to choose from a range of vibrant, clean-label colors when choosing their plant-based Capsugel Vcaps Plus capsules.
Important insights from the market study
- The global soft capsule dietary supplement market is projected to almost double in size from 2022 to 2032
- Vitamin and mineral based supplements are the most desirable component with a CAGR of 6.5%
- In use, general wellness softgel supplements are likely to register a CAGR of 6.6%.
- The USA will emerge as one of the most opportunistic markets and will witness a significant growth rate during the forecast period 2022-2032
- China, Japan, and South Korea will thrive at CAGRs of 25%, 22.5%, and 21.4%, respectively
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Key Segments Covered in Softgel Dietary Supplements Industry Report
- By ingredient:
- Amino Acid Softgels Dietary Supplement
- Botanical Softgels Dietary Supplement
- Dietary supplements based on vitamins and minerals
- After application:
- Bone and Joint Health
- General wellbeing
- heart health
- immune health and digestive health
- sports nutrition
- weight loss
- By End User:
- geriatric population
- Pregnant woman
- By distribution channel:
- Selling Softgels dietary supplements through Modern Trade
- Sale of Softgels dietary supplements through drugstores and pharmacies
- Selling softgel dietary supplements through health and beauty stores
- Selling softgels dietary supplements through online retail outlets
- Distribution of Softgels dietary supplements through other distribution channels
- By region :
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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Prominent service providers are taking advantage of the rapidly digitizing landscape to introduce new services equipped with innovative cutting-edge technology. Some notable developments are as follows:
- In February 2022, Amway India launched nutritional supplements in trendy, tasty, convenient and simplified formats such as flavored gummies and mouth-dissolving jelly strips under its flagship brand Nutrilite.
This new range of products has been developed to suit the modern lifestyle, especially the busy young millennials. This range of on-the-go supplements will further strengthen Amway’s nutrition portfolio.
- In October 2021, Nestlé Health Science completed the acquisition of The Bountiful Company’s core brands including Nature’s Bounty, Solgar, Osteo Bi-Flex, Puritan’s Pride, Ester-C and Sundown. The $5.75 billion deal was announced on April 30.
- In September 2021, India-based supplement manufacturer Prorganiqan announced the launch of 24-in-1 Mega Superfoods supplements. These are packed with various essential veggies, greens, fruits and herbs and improve overall health and well-being.
- In October 2021, Herbalife introduced a relaxation tea and new immunity essentials formulated with lemon balm to combat stress.
More insights available
Fact.MR presents in its new offering an unbiased analysis of the global Softgel Dietary Supplements market that includes historical analysis from 2015-2021 and forecast statistics for the period from 2022-2032.
The study reveals key insights based on ingredients (amino acids, botanicals, vitamins and minerals, others), application (bone and joint health, general well-being, heart health, immune health and digestive health, sports nutrition, weight loss, others), end users (adults, geriatric population , pregnant women, children) and distribution channel (modern retail, drugstores and pharmacies, health and beauty stores, online retail and others) in seven major regions (North America, Latin America). , Europe, East Asia, South Asia, Oceania and the Middle East and Africa).
Check out other related studies published by Fact.MR Research:
Market for dietary supplements in Europe – The European market for dietary supplements with soft capsules is expected to grow at 6.8% and reach US$32 billion by 2032, compared to US$16.56 billion in 2022. The growth of the market is predicted to be increasing Treatment costs for diseases such as bronchitis and diabetes, as well as increased healthcare spending, are increasing.
market for dietary supplements – The global dietary supplements market is projected to reach a market value of USD 163 billion in 2022 and reach USD 351 billion by 2032. The projected growth rate is 8% during the forecast period. The growth of the market is attributed to increasing health awareness, adoption of healthy diet and increasing geriatric population.
Liquid Dietary Supplements Market – The market for liquid dietary supplements is expected to be worth US$39 billion in 2021. The market is expected to reach $42.21 billion in 2022. From 2022 to 2032, the industry is expected to show a CAGR of 8.22% while accumulating $93 billion in revenue. An increasing health conscious population is predicted to drive the market over the forecast period.
Powdered Dietary Supplements Market – Detailed industry analysis has revealed that the global powdered dietary supplement market is currently valued at US$35.9 billion and is expected to grow at a CAGR of 7.7% over the next decade. This revised Fact.MR study projects the market to reach a valuation of $75.2 billion by the end of 2032.
Market for vitamins and derivatives – The latest industry analysis on Vitamins & Derivatives Market Fact.MR estimates that the global production of Vitamins & Derivatives will exceed 139,450 Mt in 2021. However, demand will remain lower at less than 135,550 million tons. A surge in demand for vitamins and derivatives was seen in 2020 after the outbreak of the COVID-19 pandemic as consumers focused more on building immunity.
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