Sales of softgel dietary supplements are anticipated to significantly increase, showing a CAGR of 7% over the projection period of 2023 to 2033. The global softgel dietary supplement market is expected to reach USD 8.03 billion by 2023.
Offering in this area opens up a lot of opportunities, such as those in item creation, appropriation, sale, and presentation services. Fact. In order to demonstrate in various assessments and forecasts of the demand for softgel dietary supplements at the global and provincial levels, MR reviewers undertook a sizable collection of optional basic and extensive research.
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Market Participants: –
- BASF SE
- DuPont de Nemours, Inc.
- Abbott Laboratories
- Bayer AG
- GlaxoSmithKline Limited
- International Herbalife
- Vero DSM NV
- Glanbia Plc
- Now groceries
- The Nature’s Bounty Co.
- Amway company
The examiners used various extensive and engaging business intelligence tools to bring together realities, figures and market intelligence to estimate and forecast earnings in the market.
Major market partners, including industry players, policy makers and financiers in several countries, have constantly realigned their systems and management practices to take advantage of the newly opened doors. Many have recently updated their procedures to stay coordinated in the face of the general disruption caused by the COVID-19 pandemic.
Key Segments Covered in Softgel Dietary Supplements Industry Report
- By ingredient:
- Softgels amino acid food supplement
- Botanical dietary supplement softgels
- Food supplements based on vitamins and minerals
- Other
- After application:
- Bone and joint health
- General well-being
- heart health
- immune health and digestive health
- sports nutrition
- weight loss
- Other
- For the end user:
- Adult
- geriatric population
- PRECINCT
- children
- By distribution channel:
- Sale of Softgels dietary supplements through Modern Trade
- Sale of Softgels dietary supplements through drugstores and pharmacies
- Selling softgel dietary supplements through health and beauty stores
- Sale of softgel dietary supplements through online outlets
- Distribution of Softgels dietary supplements through other distribution channels
Regional analysis included
- North America (USA, Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Republic etc.) , Rest of Europe
- CIS and Russia
- Japan
- Asia Pacific excluding Japan (Greater China, India, South Korea, ASEAN countries, rest of EPAJ)
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.