This article first appeared on The Next Wiggin.
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The nutritional supplements and supplements-based nutritional supplements market is expected to grow by more than 2% in 2018, according to a new report by research firm Mintel.
That’s because the demand for nutritional supplements has not only grown in recent years, but also because the supply has been more flexible, the report said.
Mintel analysts believe the industry could be worth as much as $1 trillion in 2018 and could reach $3.4 trillion by 2020, the firm said in a report on Tuesday.
The report also found that consumers were increasingly buying more nutritional supplements online.
Mintel said consumers are more likely to look for the products online and purchase them through a site than they are in stores.
The latest data showed that more than 3 billion people have bought dietary supplements in the last three years, and that the growth in dietary supplement sales is accelerating, Mintel found.
The trend is especially pronounced in emerging markets, where people are increasingly choosing to supplement their diets with supplements instead of food, said Matthew B. Wiggen, senior vice president of Mintel Nutrition.
The data also showed that the number of consumers who are using online nutritional supplements to supplement with supplements has grown rapidly over the last decade.
In 2018, there were 7.6 billion online users of dietary supplements, up from 6.7 billion in 2016, according the report.
The growth of online nutritional supplement sales has led to a sharp increase in the amount of money people are spending for the supplements, the Mintel report said, citing Mintel research.
According to the report, the online sales of dietary supplement products are expected to reach $2.4 billion by 2020.