The Softgels Dietary Supplements Landscape Is Slated To Reach A Valuation Of US$ 15.8 Billion by 2032

The global softgels dietary supplements market is estimated to be US$ 8.03 Billion by 2022, sales of softgels dietary supplements are anticipated to witness significant expansion, registering a CAGR of 7% over the forecast period of 2022 to 2032.

Softgels dietary supplements based on vitamins and minerals accounted for more than half of the global market share in 2022. These supplements are also expected to remain the most attractive, with an absolute dollar opportunity of around US$ 15.8 Billion from 2022 to 2032. By application, softgels dietary supplements for general well-being enjoyed high popularity, experiencing a moderate 6.5% value CAGR from 2015 to 2021.

According to market research and competitive intelligence provider Fact.MR, the Softgels Dietary Supplements market experienced noteworthy growth, growing at a value CAGR of 6.5% from 2017 to 2021, wherein, developed countries such as the U.S., Canada, Germany, and the U.K. held a significant share in the global market.

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Key Challenges encountered by Softgels Dietary Supplements Providers

Stringent Healthcare Regulations May Emerge as the Primary Roadblock for Softgels Dietary Supplements Suppliers

False health claims and contamination are the most prevalent problems related to the manufacturing of dietary supplements. Many regulatory agencies such as the FDA are paying more attention to the safety and risks of dietary supplements.

With an increasingly stringent regulatory environment for dietary supplements, companies often use faulty research studies to attribute health claims to a specific ingredient or formulation in various dietary supplements. Consequently, these claims may sometimes misrepresent the real health benefits to consumers. Supplements manufacturing companies are not happy due to the additional cost of investment in research & development. This has had a ripple effect on the overall product pricing of soft gel dietary supplements.

Why is the Mature Softgels Dietary Supplements Market in the U.S. still growing at Over 4% annually?

The market in the U.S. grew by 4% from 2017 to 2021. Several adults and children in the country take one or more types of dietary supplements. In a survey conducted by the Council for Responsible Nutrition among U.S. consumers, 77% of them reported that they consume dietary supplements.

The survey stated that a majority of both, males and females aged over 18 years consumed dietary supplements. Besides this, what drives the market growth in the U.S. is the growing consumption of more than one dietary supplements by consumers, which can be reasoned with an increasing number of lifestyle ailments among people.

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Softgels Dietary Supplements Market- Competitive Landscape

The majority of companies discussed in the report have focused on product launches and expanding their manufacturing units in developing regions. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks. Some of the key developments are:

• In February 2022, FMCG direct selling company Amway India launched nutrition supplements in trendy, tasty, convenient, and simplified formats like flavourful gummies and mouth-dissolving jelly strips under its flagship brand Nutrilite. This new range of products is designed to suit modern lifestyles, especially of the busy young millennials, this range of on-the-go nutrition supplements is all set to further strengthen Amway’s nutrition portfolio.
• In October 2021, Nestlé Health Science has completed its acquisition of the core brands of The Bountiful Company, including Nature’s Bounty, Solgar, Osteo Bi-Flex, Puritan’s Pride, Ester-C, and Sundown. The $5.75 billion deal had been announced on April 30.
• In September 2021, Prorganiqan India-based supplements manufacturer announced the launch of 24-in-1 mega superfoods dietary supplements. These will be packed with various essential greens, veggies, fruits, and herbs, and will deliver improvement in general health and well-being.
• In October 2021, Herbalife introduced a relaxation tea as well as new immunity essentials, formulated with lemon balm, to fight stress.

Key Segments Covered in the Softgels Dietary Supplements Industry Report

By Ingredient :

• Amino Acid Softgels Dietary Supplements
• Botanical Softgels Dietary Supplements
• Vitamin-& Mineral-based Softgels Dietary Supplements
• Others

By Application :

• Bone and Joint Health
• General Well-being
• Heart Health
• Immune Health and Digestive Health
• Sports Nutrition
• Weight Loss
• Others

By End User :

• Adults
• Geriatric Population
• Pregnant Women
• Children

By Sales Channel :

• Softgels Dietary Supplements Sales via Modern Trade
• Softgels Dietary Supplements Sales via Drug Stores & Pharmacies
• Softgels Dietary Supplements Sales via Health & Beauty Stores
• Softgels Dietary Supplements Sales via Online Retail
• Softgels Dietary Supplements Sales via Other Sales Channels

By Region :

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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