Rising demand for products with high protein and nutritional value is reflecting positively on the global powder dietary supplements market. Governments in emerging countries such as China and India are promoting health and wellness programs, which is further leading to higher consumption of powder dietary supplements in these densely populated countries. In developed countries consumers are becoming more conscious about their physical appearance. Desires of having a lean body and an attractive personality are prompting many of the consumers in Western countries to opt for powder dietary supplements. Positive views on maintaining an active lifestyle as well as the increasing consumer awareness on healthier food products is also driving the popularity of powder dietary supplements. Fact.MR’s latest report projects that the global powder dietary supplements market will surpass US$ 36,338 Mn, registering an impressive CAGR of 8.3% during the forecast period (2017-2022).
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Like every nutritional supplement, powder dietary supplements are also governed by Food and Drug Association that states that every new powder dietary supplement should comply with the terms provided in the DSHEA (Dietary Supplement and Health Education Act). Principal focus of this act being safety of ingredients used in powder dietary supplements, manufactures of powder dietary supplements are required to abide by FDA laws before commercialization. Moreover, FDA has also implemented labelling regulations to reveal the constituents present in powder dietary supplements. According to the report, higher safety standards and measures are likely to induce a sense of confidence among consumers, in turn supporting the growth in sales of powder dietary supplements and overall growth of the market.
Global Powder Dietary Supplements Market: Competition Analysis
Extensive study of the global landscape for powder dietary supplements reveals key developmental strategies of the most prominent players in the powder dietary supplements market.
Some of the leading companies participating in the global powder dietary supplements ecosystem include Glanbia plc, Herbalife International, Inc, DuPont, DSM, Bayer AG, BASF SE, Abbott Laboratories, Amway Corporation, GlaxoSmithKline plc, Alphabet Holding Company, Inc., and Amway Corporation.
A large number of these players are considering strategic partnerships as the key to enhanced market footprint, which includes food and pharma leaders as well as food science research institutes. Brands are preferring partnerships for an improved product functionality and innovation.
GSK Consumer Healthcare Ltd. recently launched Horlicks Protein+ targeting the supposedly protein-deficient working professionals in emerging countries. An important strategic move by Nestle, the leader in the food industry, is being claimed to enable the company to stay ahead of the game in the global powder dietary supplements marketplace.