Over the past few years, there has been a massive shift in the way consumers are addressing their overall health and wellness. Now, people are looking for more "natural" ways to promote their overall health. This has largely been driven by a campaign of diet and exercise to address the obesity epidemic throughout the country. As a result, this has given rise to the health and dietary supplement market. With increasing concerns related to the side effects of prescription medications, health supplements have grown exponentially over the past few years. The market outlook is bright for the rest of the decade as well.
Some financial analysts are predicting that the global market valuation for dietary supplements is going to reach close to $350 billion by 2026. There is a rising demand for more of these health supplements and with many products, individuals can reverse aging, get better sleep at night, improve lean muscle mass, and increase their libido. Some people are even turning to using cannabutter because of the healing properties in their key ingredient.
Another factor that is playing a role is the rising amount of disposable income per capita. With more disposable income, there has been a shift in the way individuals and households spend their money. Now, instead of focusing on material items, people are trying to find ways to focus on their health. This has given rise to a completely new market.
There is a growing awareness as it relates to mental health, fitness, and nutrition that has been pushed by doctors across the country. This concern has spread to the rest of the world as well. In 2015, more than 2 billion people across the world were reported to be obese. A significant percentage of these individuals were located in the United States, which still has the highest rate of childhood obesity in the world. This has caused everyone in the country to focus more on proper nutritional intake. This is where the push to promote dietary supplements has arisen. Right alongside the push to consume a healthy diet and take health supplements, the memberships at local gyms and athletic clubs have also surged. It is a good sign that people are focused on their overall health, which is going to promote more growth opportunities for health supplements.
It will be interesting to see what type of health supplements reach the open market in 2020. Much of this growth projection has to do with new categories of supplements hitting the shelves that will target new customers. The outlook is bright for health supplements.
