North America Dietary Supplements Market Size, Share, Growth Analysis, By Ingredients(Vitamins, minerals), By Form(Tablets and capsules, liquid), By Distribution channel(Hypermarkets, Specialty Stores), By End users(Adults and infants) - Industry Forecast 2024-2031

Report ID: SQMIR35I2332 | Region: Regional | Published Date: February, 2024
Pages: 242 | Tables: 118 | Figures: 77

North America Dietary Supplements Market Dynamics

North America Dietary Supplements Market Drivers

Rise of Conscious Lifestyle to Bolster Market Growth

To improve their physical health and general well-being, people of all ages, backgrounds, and locations are turning to exercise, which is sharply increasing demand for nutritional supplements.

Social media, in addition, has a big impact on self-improvement and motivation for exercise. People follow influencers and celebrities who promote the benefits of dietary supplements and fitness regimes. This together with interest in bodybuilding is fueling the dietary supplements market in North America.

Athletes are increasingly turning to dietary supplements to help them increase their stamina and performance while also maintaining their health. This aspect is greatly increasing demand for dietary supplements in the North American region.

North America Dietary Supplements Market Restraints

High Cost and Quality Concerns to Hinder Market Growth

Dietary supplements cost on the higher side although it may vary significantly based on the ingredients such as natural or synthetic. Dietary supplements made from synthetic material may cost comparatively lower however their quality are not comparable to natural raw materials. Also availability of a particular raw material during a specific season also affects the final production costs of the dietary supplements. Supplements development after years of research and development may have better quality, efficacy and absorption rate but are certainly more expensive. These factors can hinder the market growth in the North American region.

North America Dietary Supplements Market Report Snapshots

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North America Dietary Supplements Market size was valued at USD 63435.76 million in 2019 and is poised to grow from USD 66734.42 million in 2023 to USD 100109.62 million by 2031, growing at a CAGR of 5.2% in the forecast period (2024-2031).

Due to the presence of major public and private players there is a high competitiveness in the market. Key players are constantly focusing on research and innovation and development of new products. Some of the key players in the market are Amway Corp., Abbott, Arkopharma, Bayer AG, Glanbia PLC, Pfizer Inc., ADM, and Ayanda. In the North American region there are a large no. of contract manufacturers which has led to the increase in the various private labels brands in this region and thereby boost the growth of North America's dietary supplements market. Major players are employing strategies such as mergers & acquisition, strategic collaboration and developing more effective supplements to maintain their geographical market share 'Amway', 'Abbott Laboratories', 'Glanbia PLC', 'Herbalife Nutrition Ltd.', 'GlaxoSmithKline PLC', 'Nature’s Bounty Co.', 'Pfizer Inc.', 'Archer Daniels Midland Co.', 'GNC Holdings Inc.', 'Bayer AG', 'Nature's Sunshine Products, Inc.', 'Nestle S.A.', 'Church & Dwight Co. Inc.', 'The Clorox Company', 'Reckitt Benckiser Group plc', 'Pharmavite LLC', 'The Nature's Bounty Co.', 'The Vitamin Shoppe', 'NOW Foods', 'Garden of Life'

To improve their physical health and general well-being, people of all ages, backgrounds, and locations are turning to exercise, which is sharply increasing demand for nutritional supplements.

Consumer interest in multivitamin-based dietary supplements is growing as a result of the region's rising health problems and diseases. The US is the largest market for products containing vitamins and vitamin-based products. The rising prevalence and severity of chronic diseases among adults lead to health concerns. The main contributing factors to these diseases are unhealthy diets, unhealthy lifestyles, and excessive alcohol usage. Vitamins aid in the prevention of various disorders by allowing the body to receive essential amino acids. Therefore, products containing multivitamins and single vitamins are popular.

North America has a sizable population with growing obesity levels and lifestyle-related disorders. In countries such as the U.S. and Canada there is a high prevalence of chronic diseases such cardiovascular diseases, diabetes and others. This can be attributed to their dietary habits, high disposable incomes, and accessibility to numerous processed & ready-to-eat foods, which may not necessarily be good for health. As nutritional supplements become more popular across North America, pharmacists will have more opportunities to advise patients on their consumption according to needs.

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North America Dietary Supplements Market Size, Share, Growth Analysis, By Ingredients(Vitamins, minerals), By Form(Tablets and capsules, liquid), By Distribution channel(Hypermarkets, Specialty Stores), By End users(Adults and infants) - Industry Forecast 2024-2031

North America Dietary Supplements Market Dynamics

North America Dietary Supplements Market Report Snapshots

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