USD 148.8 billion
Report ID: SQSG35I2013 | Region: Global | Published Date: December, 2022 | Pages: 157 | Tables: 127 | Figures: 77
Dietary Supplements Market size was valued at USD 148.8 billion in 2021 and is poised to grow from USD 159.7 billion in 2022 to USD 283 billion by 2030, growing at a CAGR of 7.4% in the forecast period (2023-2030).
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.
Global Market Size
USD 148.8 billion
Largest Segment
Vitamins
Fastest Growth
Probiotics
Growth Rate
7.4% CAGR
To get more reports on the above market click here to Buy The Report
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.
To get detailed analysis on other segments, Request For Sample Report
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.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Dietary Supplements Market Driver
Increase in need for nutrition and good health augment the market share
Dietary Supplements Market Restraint
High production costs for organic raw materials
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
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
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.
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 2021 | USD 148.8 billion |
Market size value in 2030 | USD 159.7 billion |
Growth Rate | 7.4% |
Base year | 2021 |
Forecast period | 2023-2030 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
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) |
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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.
Our industry expert will work with you to provide you with customized data in a short amount of time.
SPEAK TO AN ANALYSTGet lifetime access to our reports
Basic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOWDietary Supplements Market size was valued at USD 148.8 billion in 2021 and is poised to grow from USD 159.7 billion in 2022 to USD 283 billion by 2030, growing at a CAGR of 7.4% in the forecast period (2023-2030).
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. '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'
'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 usage of vitamins, minerals, foods that enhance immunity, organic goods, supplements, and other dietary aids has considerably expanded. It is well recognized that having a good immune system can help 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 defenses when combined with appropriate nutrition. The demand for immunity-boosting goods has greatly expanded as people's awareness of holistic wellbeing has grown.
The market for plant protein components is expanding quickly as customers switch from animal to plant-based proteins. This is quite likely to cause 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. Additionally demonstrating changing customer attitudes, the target market for these herbal supplements is shifting from vegans to flexitarians. In terms of health advantages, plant-based vitamins and minerals may be superior to synthetic nutrients.
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.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Product ID: SQSG35I2013