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Powder dietary supplements are likely to witness high traction on the back of increasing focus on healthy aging coupled with growing awareness regarding adequate nutrition. The powder dietary supplements market continues to witness momentous growth, largely influenced by various macroeconomic factors including but not limited to rising purchasing power parity, economic growth and growing lifestyle disorders. Fact.MR reveals that the sales of powder dietary supplements are estimated to touch US$ 36 Bn by end of the assessment period with demand projected to rise at a high value CAGR of 8.3% throughout the period of forecast, 2017-2022.
Like every nutritional supplement, powder dietary supplements are also governed by Food and Drug Association that states that every new powder dietary supplement should comply with the terms provided in the DSHEA (Dietary Supplement and Health Education Act). Principal focus of this act being safety of ingredients used in powder dietary supplements, manufactures of powder dietary supplements are required to abide by FDA laws before commercialization. Moreover, FDA has also implemented labelling regulations to reveal the constituents present in powder dietary supplements. According to the report, higher safety standards and measures are likely to induce a sense of confidence among consumers, in turn supporting the growth in sales of powder dietary supplements and overall growth of the market.
The powder dietary supplements marketplace is also influenced by growing individual participation in fitness programs. This factor coupled with increasing registrations in fitness clubs is likely to pave potential growth opportunities for powder dietary supplements such as protein powders. For instance, according to analysis by IHRSA, in 2017 European health club market served around 56 million members with fitness clubs generating more than US$ 29 billion. This factor is likely to fuel demand for protein supplements, in turn aiding the growth of the powder dietary supplements market.
The demand for powder dietary supplements among men is projected to grow at a stellar pace on the back of rising inclination toward muscle enhancement. However, sales of powder dietary supplements are estimated to remain high among women demographic worldwide, says the report. Fact.MR reveals that powder dietary supplements sales among women demographic are estimated to cross US$ 16 Bn by end of the year of assessment.
Pharmacies drug stores are expected to remain potential distribution channel for powder dietary supplements as they provide consumer specific health services such as significant discounts for senior citizens. However, with significant rise in e-commerce business, new growth avenues for manufacturers of powder dietary supplements are in the offing.
Sales of powder dietary supplements, particularly for general wellbeing, are projected to increase at a significant rate during the assessment period. Largely driven by increasing nutrition and wellness programs initiated by key stakeholders in the powder dietary supplements market, the powder dietary supplements sales from consumers preferring general wellbeing are estimated to cross US$ 10 Bn by 2022.
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Greens Powders: The Latest Addition to Powder Dietary Supplement Shelves
Nutritious combinations of dried and blended plants, formed into powders, are referred to as greens powders. These powders have been formulated to deliver the best benefits of green leafy vegetables and others ontaining health-boosting minerals and vitamins. Already witnessing dcent popularity in the US, these greens powders are the latest product in the powder dietary supplements series - typically containing wheat grass, beets, pineapple, kale, spirulina, kelp, and green tea extracts. Some of the variants also contain pro and prebiotic, and digestive enzymes.
APEJ Foreseeing Significant Growth, Following North America and Europe
North America’s market for powder dietary supplements has been estimated to observe healthy expansion through 2022, whereas the powder dietary supplements market in Asia Pacific excluding Japan will also witness substantial growth over the forecast period. Highly lucrative opportunities are likely to create revenue generation channels for players in China and India, as indicated by the study. Europe will also represent a lucrative market for powder dietary supplements manufacturers, as the regional analysis of global powder dietary supplements market projects Europe as a high-potential territory to possibly exceed the value worth US$ 2 billion towards the end of 2022.
Government Authorities in Developing Regions Pushing Powder Dietary Supplements Demand
Governments in developing economies including China and India are extending soaring contribution towards rising demand for powder dietary supplements, since recent past. While consumers in emerging countries are increasingly aware about the consumption of nutritional foods, health and wellness program promotions by governments are further encouraging consumption of powder dietary supplements. Developed regional markets for powder dietary supplements have been early adopters, accounting for a major revenue share in the global powder dietary supplements market.
Weight Loss Remains the Most Sought after Objective among Consumers of Powder Dietary Supplements
With escalating preference for healthy body weight and nutritional diet, dietary supplements have been experiencing visibly growing traction among consumers worldwide. The weight loss segment has been identified to optimally serve this demographic and is likely to demonstrate around 8% CAGR between 2017 and 2022, possibly reaching the revenue beyond US$ 6 Bn by 2022 end. While the estimated CAGR speaks for the growth potential of weight loss segment in the powder dietary supplements market, sports nutrition is also foreseen to attract significant share of the total powder dietary supplements market revenue.
Global Powder Dietary Supplements Market: Competition Analysis
Extensive study of the global landscape for powder dietary supplements reveals key developmental strategies of the most prominent players in powder dietary supplements market. Some of the leading companies participating in the global powder dietary supplements ecosystem include Glanbia plc, Herbalife International, Inc, DuPont, DSM, Bayer AG, BASF SE, Abbott Laboratories, Amway Corporation, GlaxoSmithKline plc, Alphabet Holding Company, Inc., and Amway Corporation. A large number of these players are considering strategic partnerships as the key to enhanced market footprint, which include food and pharma leaders as well as food science research institutes. Brands are preferring partnerships for an improved product functionality and innovation.
GSK Consumer Healthcare Ltd. recently launched Horlicks Protein+ targeting the supposedly protein-deficient working professionals in emerging countries. An important strategic move by Nestle, the leader in the food industry, is being claimed to enable the company to stay ahead of the game in the global powder dietary supplements marketplace. As the current consumer demographic prefers a personalized approach to their dietary needs, Nestle recently announced a unique, nutrition program that makes use of top-of-the-line technology tools such as Artificial Intelligence, DNA testing, and Instagram for delivering a highly customized dietary recommendation that also includes powder dietary supplements. While a number of startups had already initiated this program to a limited extent, Nestle is profoundly expanding its reach.
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