Vitamin and mineral formulations are expected to account for 45% of the global revenue of US$39.2 billion for the liquid dietary supplements market in 2021, according to a new report from Fact.MR (Liquid Dietary Supplements Market Forecast, Trend Analysis & Competition Tracking: Global Review 2021 to 2031). And while the period of 2016-2020 posted a strong compound annual growth rate (CAGR) of 7%, this is expected to accelerate to 9% over the 2021-2031 period, with proteins and amino acids products to boast an even greater 14% CAGR.
Multiple factors were cited by the firm as driving consumer interest. One of these is the ageing population, whereby older consumers addressing chronic conditions are using nutritional interventions to support their health, while simultaneously appreciating the convenience, flavour and ease-of-swallowing posed by liquid supplements. Another factor is recognition of the rate of malnutrition in both developing and underdeveloped nations.
Fitness was reported as a key driver globally, with the sports nutrition segment expected to lead the global market in 2020, accounting for 60% of revenue. Expected growth is particularly strong in the U.S. and India markets, according to Fact.MR. In the United States, increased frequency of sports participation by adults and children will bolster growth rates, while rising awareness of the importance of fitness among consumers in India is expected to impact adoption. The CAGR of 14% in protein and amino acid liquid dietary supplements reflects an increasing demand for protein supplements and amino acid products such as creatine, tyrosine, citrulline and proline.
The worldwide liquid dietary supplements market's key players are involved in regulatory approvals, the launch of new products, and acquisition and cooperation partnerships with other companies. These methods are likely to drive the global liquid dietary supplement market forward. Key players include Herbalife Nutrition, Amway and Abbott Laboratories.