Amway Corp (US), Herbalife International of America, INC. (US), ADM (US), Pfizer INC (US), Abbott (US),are increasing their market share steadily through investments and expansions.
The Global Dietary Supplements Market size is assessed at USD 155.2 billion in 2022; it is projected to grow at a compound annual growth rate (CAGR) of 7.3% to reach USD 220.8 billion by 2027. Increasing awareness about nutrition and healthy lifestyles is driving the market for dietary supplements. It is widely known that having a healthy immune system can help reduce the risk or severity of diseases and infections. When combined with proper nutrition, dietary supplements can enhance the body’s natural defenses and immunity. As people become more conscious of holistic wellbeing, the demand for immunity-boosting products is expected to increase in the coming years.
The Dietary Supplements market consists of a few globally established players such as Amway Corp (US), Herbalife International of America, INC. (US), ADM (US), Pfizer INC (US), Abbott (US), Nestle (Switzerland), Otsuka Holding Co, LTD (Japan), H&H Group (China), Arkopharma (France), Bayer AG (Germany), Glanbia Plc (Ireland), Nature's Sunshine Products Inc (US), Fancl Corporation (Japan), Danisco (Denmark), Bionova (India), American Health (US), Pure Encapsulations LLC (US), GlaxoSmithKline, PLC (UK). Strategic partnerships were the dominant strategy adopted by the key players, followed by expansions and new product launches. These strategies have helped them to increase their presence in different regions and industrial segments.
Herbalife Nutrition is a global nutrition firm that offers weight management, sports nutrition, and health & wellness products to people across the world. They distribute and advertise various nutrition products to and through a network of independent members, using a direct-selling business model. It offers dietary supplements under the Weight Management and Targeted Nutrition product categories. Herbalife Nutrition offers a wide range of high-quality and science-backed products, including meal replacement protein shakes, teas, aloes, protein bars, nutritional supplements, sports hydration, and outer nutrition products. Till now, the company has marketed and sold approximately 120 types of product. The company’s manufacturing facilities, known as Herbalife Innovation and Manufacturing Facilities or HIMs, include HIM Lake Forest, HIM Winston-Salem, HIM Suzhou, and HIM Nanjing.
The Archer-Daniels-Midland Company (or ADM) harnesses the power of nature to offer nutrition to people all over the world. The corporation is a global leader in human and animal nutrition. ADM's breadth, depth, insights, facilities, and logistical ability give it unparalleled capabilities to address food, beverage, health & wellness, and other needs. The company owns trademarks, brands, recipes, and other intellectual property, including patents, with a net book value of USD 903 million as of December 31, 2020. The company runs through four business segments: AG Services and Oilseeds, Carbohydrate Solutions, Nutrition, and Others. It offers dietary supplements under its Nutrition segment. The company’s Nutrition segment engages in the manufacturing, sales, and distribution of a wide array of dietary supplements and nutrition products, including probiotics, prebiotics, enzymes, botanical extracts, and other specialty food & feed ingredients. The segment also makes up activities such as the manufacturing of contract and private label pet treats and foods, as well as the processing and distribution of formula feeds and animal health and nutrition products. The company works through 46 innovation centers, 345 processing plants, 480 crop procurement facilities, and 200 bulk storage facilities in around 200 countries across the regions. ADM runs through numerous subsidiaries, such as Ab Mauri (UK), ABF Ingredients (UK), etc.
Pfizer Inc. is a research-based, global biopharmaceutical company. Through the research, development, manufacturing, marketing, sale, and distribution of biopharmaceutical medicines around the world, the company employs science and its global resources to offer therapies to people that extend and significantly improve their lives. The company looks to promote wellness, prevention, treatments, and cures for the world's most feared diseases in both developed and emerging markets. On June 2, 1942, the company was incorporated under the laws of the State of Delaware. Pfizer manufactures medicines, vaccines, and consumer healthcare products, among others. The company runs through two business segments, namely, Biopharma and Pfizer CentreOne. It offers consumer healthcare products, including multivitamins and calcium supplements, through brands Centrum and Caltrate, respectively, under the Consumer Healthcare segment. In 2019, Pfizer and GSK combined their respective consumer healthcare businesses into a JV that operates globally under the GSK Consumer Healthcare name. Some of the major subsidiaries of Pfizer are Pharmacia & Upjohn (Sweden), Pfizer Japan Inc. (Japan), Medivation (US), and Hospira (US).
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