Probiotics
Global Dietary Supplements Market Size, Share, Growth Analysis, By Type(Probiotics, Vitamins), By Method of Application(Tablets, Capsules), By End User(Adults, Geriatrics), By Ingredients(Vitamins, Botanicals) - Industry Forecast 2024-2031
Report ID:
SQMIG35I2233 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
127 |
Figures:
77
Global Dietary Supplements Market Insights
Dietary Supplements Market size was valued at USD 148.8 billion in 2019 and is poised to grow from USD 159.7 billion in 2023 to USD 283 billion by 2031, growing at a CAGR of 7.4% in the forecast period (2024-2031).
Dietary supplements are items that contain vital vitamins, minerals, nutrients, amino acids, botanical extracts, and enzymes to develop better health. The underlying health issues are increasing in the population and the need for dietary supplements is expected to rise. The population now-a-days are more concerned with having a well-balanced diet and increasing their intake of healthful foods that offer potential health advantages. With the growth of ailments such as diabetes and obesity, consumers are becoming more conscious of their consumption. The growth in the number of worldwide athletic events concentrating on enhancing physical strength, as well as an increase in the number of gyms, health clubs, and fitness centres is likely to drive the dietary supplement demand in the forecast period. As a result, the dietary supplement business has expanded rapidly in recent years.
US Dietary Supplements Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Largest Segment
Fastest Growth
Probiotics
Global Dietary Supplements Market ($ Bn)
Country Share for North America Region (%)
Global Dietary Supplements Market By Type ($ Bn)
Global Dietary Supplements Market By Type (%)
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Global Dietary Supplements Market Segmental Analysis
The global dietary supplements market is segmented based on type, distribution channel, form, end user, ingredients, and region. Based on type, the market segmentation comprises vitamins, carotenoids, minerals (major minerals, trace minerals), probiotics, proteins (plant proteins, animal/dairy proteins, microbe proteins, insect proteins), amino acids, carbohydrates, fats & fatty acid, lipids, enzymes, others.
Based on distribution channel, the market is segmented into OTC, and prescription. Based on form, the dietary supplements market is segmented into tablets, capsules, soft gels, powders, gummies, liquids, others. Based on end-user, the industry is segmented into adults, geriatrics, infants, children, and pregnant women. based on ingredients, the Dietary Supplements Market is segmented into vitamins, botanicals, minerals, proteins & amino acids, fibers & specialty carbohydrates, omega fatty acids, and other. Based on region, the global market spans North America, Europe, Asia-Pacific, and MEA.
Dietary Supplements Market Analysis by Type
Based on the type, vitamins accounted for a maximum market share followed by botanicals, probiotics, and other dietary supplements segments. Vitamin deficiency is on the rise in many nations, and to make up for this, individuals are taking vitamin supplements. Lack of minerals can lead to major health issues in adults and pregnant women, which is driving up demand for the mineral market. With increased bodybuilding and weight loss activities, the demand for protein supplements is also anticipated to increase in the upcoming years. Followed by botanicals, the market for herbal dietary supplements has experienced strong value sales growth. The market for herbal supplements is primarily being driven by growing consumer knowledge of the health advantages of consuming plant-based food products and by an increase in the number of customers who are health-conscious. Horehound, Yohimbe, cranberry, black cohosh, senna, cinnamon, and flaxseed are a few of the major herbal dietary supplements that have gained more popularity in recent years.
Dietary Supplements Market Analysis by Method of Application
Global dietary supplements market has been segmented on the basis of method of application as tablets, capsules, liquids, powders, soft gels, and gel caps. Among these, the tablets segment of the market dominated the market due to their high level of convenience, which has ensured a strong customer preference. Further, the market segments are followed by liquid, powders, capsules, soft gels, and gel caps.
Herbal supplements endurance and improve physical performance and hence the demand for beverage formats, such as protein shakes and green tea has increased dramatically, particularly among health enthusiasts. Consequently, the liquids segment is anticipated to experience a greater growth rate in terms of value sales throughout the projected period.
Global Dietary Supplements Market By Type, 2031 (%)
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Global Dietary Supplements Market Regional Insights
North America held the largest share of the dietary supplements market due to the high frequency of both chronic and non-chronic diseases, rising consumer awareness of the use of dietary supplements, and growth in the research and development efforts made by large companies. Followed by the Asia Pacific because of escalating healthcare costs, the region is expected to develop at the fastest CAGR of more than 9.9 % throughout the projection period. As a result, people are turning to dietary supplements to live a healthier lifestyle. As a result, large countries such as China and India are seeing an increase in demand for supplements. As people pursue better lifestyles, the European region is also experiencing moderate growth in the dietary supplement market.
Global Dietary Supplements Market By Region, 2024-2031
- Largest
- Fastest
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Global Dietary Supplements Market Dynamics
Dietary Supplements Market Driver
Increase in need for nutrition and good health augment the market share
- 'Self-care' is becoming a crucial component of the lifestyle of the modern consumer. Consumer food habits have changed significantly as a result of the increased focus on overall health and immunity. The vitamins, minerals, foods that enhance immunity, organic goods, supplements, and other dietary aids has considerably expanded the market demand. It is essential to develop a good immune system to lower the likelihood or severity of illnesses and infections, despite the fact that the continuing pandemic has intensified the attention on immunity. It is a crucial element that can strengthen the body's natural defense when supplemented with relevant nutrition. Thus, the demand for immunity-boosting foods have greatly expanded as population awareness for holistic well-being has grown.
- The usage of dietary supplements is being encouraged by measures made by regulatory organizations like the Food and Drug Administration of the United States to ensure the quality of dietary supplements. The dietary supplements market revenue is anticipated to increase as a result of the use of organic, secure, and clean-labeled ingredients in the supplements. The rise in participation for sports and bodybuilding competitions is another driver for the growth of dietary supplement sector. To improve their performance, the professional athletes use nutritional supplements.
Dietary Supplements Market Restraint
High production costs for organic raw materials
- Depending on the source (natural or synthetic) and season of component, the cost of a supplement may change dramatically. The production costs of synthetic ingredients are lower, and they don't require managing the natural sources from which the functional principles are to be taken. However, the quality of synthetic raw materials cannot be compared with that of natural raw materials. Another element that may affect the ultimate price of dietary supplements is their bioavailability or the seasonality of their raw materials. The cost of producing a supplement is impacted by the fact that the majority of natural ingredients are not always readily available or that their costs may rise during specific months.
- Over the past 20 years, items produced from natural sources with alleged health benefits have been more publicly available. These products are called nutraceuticals and dietary supplements. Contrary to the dietary supplements, which merely add to the diet's fundamental nutritional content, nutraceuticals are dietary supplements that additionally support the prophylaxis and/or treatment of illnesses and other conditions. Due to efficacy and safety issues, these products can slower the demand due to the absence of well-documented regulation and monitoring in the nutraceutical business. Consumers' lack of understanding for nutraceuticals, high price, and the lack of conviction in their health advantages are mentioned as deterrents.
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Global Dietary Supplements Market Competitive Landscape
Global dietary supplements market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.
Dietary Supplements Market Top Player's Company Profiles
- Amway Corporation
- Abbott Laboratories
- Archer Daniels Midland Company
- Bayer AG
- Glanbia plc
- Herbalife Nutrition Ltd.
- GlaxoSmithKline plc
- Nestlé S.A.
- Pfizer Inc.
- DSM Nutritional Products AG
- Nature's Bounty Co.
- Otsuka Holdings Co., Ltd.
- Pharmavite LLC
- GNC Holdings Inc.
- Suntory Holdings Limited
- The Himalaya Drug Company
- The Nature's Way Co.
- NOW Foods
- USANA Health Sciences, Inc.
- XanGo, LLC
Dietary Supplements Market Recent Developments
- Direct selling nutrition firm Herbalife Nutrition expects India to become its top market globally going forward, superseding the United States, according to the company's global CEO John O Agwunobi in March 2022. With the company clocking double-digit volume growth in the last five years in India, where it is primarily present in tier I cities, it is now looking to expand into tier II and tier III markets, besides doing a feasibility study on setting up its own manufacturing facilities in the country.
- Unilever continued to expand its focus on the health and wellness category with the acquisition of Nutrafol, US-based hair loss supplement maker in 2022.
Global Dietary Supplements Key Market Trends
Awareness for plant-based supplements: The market for plant protein components is expanding quickly as customers switch from meat-based to plant-based proteins. This is quite likely to cause the customers to turn to botanicals and herbal supplements made from plants, thus opening up the potential for the market for these products to expand. One of the main causes of the shift in consumer preference toward botanical extracts is the need for clean-label products, worries about sustainability, and an urgent need to avoid allergens.
Preference to personalized nutrition: The market experiences a phase shift in consumer attitude and the growing need for herbal supplements that is shifting from vegans to flexitarians. In terms of health advantages, the plant-based vitamins and minerals are rich in terms of nutrition as compared with synthetic supplements.
Global Dietary Supplements Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to the Global Dietary Supplements Market Analysis report, in terms of type, vitamins accounted for the largest share in the forecast period. Followed by botanicals, the market for herbal dietary supplements has experienced strong value sales growth. In terms of method of application, tablets segment accounted for a maximum market share followed by liquid, powders, capsules, soft gels, and gel caps.
| Report Metric | Details |
|---|---|
| Market size value in 2031 | |
| Forecast period | 2024-2031 |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Dietary Supplements Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Dietary Supplements Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Dietary Supplements Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Dietary Supplements Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Dietary Supplements Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Dietary Supplements Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Dietary Supplements Market Report Snapshots
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