Market Trends of Vitamin D Supplements Industry
Escalating Demand for Dietary Supplements Across the Globe
Dietary supplements, such as vitamins, minerals, botanicals, enzymes, fatty acids, and proteins, help promote general health and well-being by preventing nutritional deficiency diseases. The preferences for dietary supplements are growing tremendously due to the global demographic trend with the rising aging population, increasing lifestyle-related diseases, and increasing healthcare costs. As a result of the increasing demand for dietary supplements, many countries are importing these supplements to meet their demand. For instance, according to UN Comtrade, in 2020, the United States was the world's leading importer of vitamin products. United States imported worth USD 1.5 billion, followed by Germany, France, and the Netherlands. Increasing sales of sports nutrition on account of growing fitness trends and sports activity, with new product launches, is likely to significantly impact the industry. Regulatory agencies are paying more attention to dietary supplement health claims, thus, the industry is becoming more regulated.
North America Holds the Largest Share
The Vitamin D market in the region is led by high cases of orthopedic and bone-related issues. According to a US Bone and Joint Health Initiative report, "One in two Americans have a musculoskeletal condition, costing an estimated USD 213 billion each year, in treatment and lost wages". Additionally, an estimated 126.6 million Americans (one in two adults) are affected by a musculoskeletal condition- comparable to the total percentage of Americans living with a chronic lung or heart condition.Thus, the stats suggest a high burden on healthcare and consumers' personal expenditure that goes into the cure of bone treatment, increasingly leading them toward a better alternative industry of vitamin D supplements.
