Fact.MR’s comprehensive report on the global softgel dietary supplements market delivers key actionable insights on various dynamics including drivers, trends, and challenges that are anticipated to shape the market during the assessment period of 2017-2022. As per the research, the global softgel dietary supplements market will expand a robust CAGR, standing at a market valuation of US$ 39.5 Bn by 2022, majorly owing to aging population and changing dietary preferences. Fact.MR opines that the growing consumption of softgel dietary supplements can also be attributed to the swallowing difficulties, reported in pediatrics and geriatrics. Moreover, healthy lifestyle trends and efforts to reduce and prevent chronic illnesses will give a boost to vitamins and minerals softgel dietary supplements in the coming years. Softgel dietary supplements consumed for general wellbeing will account for nearly one-fourth of the total market share, predicts Fact.MR.
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Significant sales of softgel dietary supplements through various channels including beauty and health stores, hypermarket/supermarkets, and pharmacies can be attributed to the growing consumer awareness and massive information availability couple with healthy lifestyle changes and a thriving consumer base. Manufacturers of softgel dietary supplements are quickly grabbing the shifting preference toward premium brands for additional sales. Fact.MR foresees tremendous scope for innovations to suit the customization demands of the consumers. Moreover, premium positioning of products will also remain a key marketing strategy among manufacturers, especially relying on sales of softgel dietary supplements sales through pharmacies—the largest distribution channel, as per Fact.MR’s analysis. However, a broader analysis indicates that sales of softgel dietary supplements through e-commerce channels will also pick pace in the coming years owing to ease of shopping and companies trying to create a place for themselves in the online space, resulted in repeated buys.
Fact.MR also foresees stringent government regulations as an important factor influencing the future growth prospects of the global softgel dietary supplements market. In a market like softgel dietary supplements, which is highly fragmented owing to the presence of many manufacturers positioning themselves as one-stop wellness centers, gaining and retaining consumer awareness is of utmost importance. Tightening regulations concerning manufacturing and labeling, will push manufacturers to put forth best practices. Fact.MR predicts that regulations will churn out competent softgel dietary supplements in the market, translating in greater consumer assurance and opportunities for new entrants to work with the regulatory bodies.
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Fact.MR also projects that consumption of softgel dietary supplements will remain the highest among women compared to mean, through the assessment period. Underlining factors influencing the growth in consumption levels includes poor bone health and deficiencies in the body during pregnancies. Softgel dietary supplements to increase the intake of calcium to battle bone-related problems like arthritis and osteoporosis—largely reported in women and iron and vitamin supplements during pregnancies, will continue to boost consumption levels among women. Many manufacturers are also targeting this demographic in their expansion plans.
Fact.MR, in its report on global softgel dietary supplements market, has profiled a few key players, to give an overview of the competitive landscape including their key strategies and financials. Herbalife International, Inc, a leading player in the softgel dietary supplements landscape, is expected to leverage technology, build a culture of innovation, and launch new products for their future market transformation. Moreover, Herbalife International, Inc would also focus on their food security strategies and collaborate with governments to ensure good nutrition. E.I. du Pont de Nemours and Company, on the other hand would leverage its tactical marketing capabilities and technology-driven innovation to solidify its position in the softgel dietary supplements market. Entering into the 8th year of double-digit earnings growth in 2017, Glanbia plc is likely to focus on volume –driven revenue growth to meet the changing demands of their customers. Acquisition of Amazing Grass and Body & Fit helped Glanbia plc to evolve the Group portfolio.
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Plant-based Alternative a Growing Fad; Formulation Complexities Could Pose Tough Questions
Vegetarian or plant-based options has caught the attention of many consumers. Growing demand for clean-delivery formats for encapsulation of dietary supplements formulations along with consumers opting for probiotics and botanical extracts is further fueling the non-GMO trend. However, for softgel dietary supplements manufacturers and formulators, it bring along a set of hurdles. Weak vegetable derived shells, porous vegetarian gelatin, and blending limitations into an oil base could restrict the adoption of vegetarian softgel dietary supplements to a sizable extent.
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