WASHINGTON, March 14, 2023 (GLOBE NEWSWIRE) -- Global Dietary Supplements Market is valued at USD 152.3 Billion in 2022 and is projected to reach USD 269.5 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 8.5% over the forecast period 2023-2030.
Market Overview
Rising consumer awareness of their health and well-being is anticipated to drive demand for Dietary Supplements significantly. Due to busy commitments and evolving lifestyles, the working population worldwide needs help to meet the needs for dairy nutrients. The industry is anticipated to grow increasingly dependent on supplements to meet nutritional needs due to their high level of convenience.
We forecast that the tablets category in Dietary Supplements market sales will account for more than 22% of total sales by 2028. The tablets segment is anticipated to benefit from the increased popularity of multivitamin products in tablet form due to their simple dosing, low cost, longer shelf life, and better level of convenience. Makers of healthcare products should see a growth in demand for capsules due to the growing necessity of microencapsulating completed products to ensure controlled release.
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Market Dynamics
Rising Health Awareness in Aging Population to Support Market Expansion
Globally, consumers are becoming more well-being, fueling the market for Dietary Supplements. Elderly individuals are concentrating on adjusting to nutritional supplements tailored to their needs to retain good health and quality of life. A person's nutritional and food preferences may alter as they age due to emotional, biological, and social changes in the body. Additionally, the aging population relies more on regular dietary habits and nutrient intake patterns. Furthermore, the aging population has raised the need for nutrient-dense, age-friendly food options to support their general health.
Increase in the Prevalence of Vitamin Insufficiency to Drive the Market Growth
This is brought on by the citizenry's shortage of important vitamins such as Vitamins A, B, C, and E. Therefore, customers strongly favor vitamins and supplements to get their recommended daily intake of vitamins. Additionally, rising vitamin insufficiency rates are anticipated to further fuel market expansion. Additionally, the lack of certain nutrients in a typical diet raises the need for supplement goods, with vitamin supplements playing a key role. Different vitamin supplements are consumed depending on each customer's preferences and age group. Women use vitamin C-rich cosmetics to shield their skin from the sun's UV rays.
Top Players in the Global Dietary Supplements Market
- Amway Corp (US)
- Abbot (US)
- Arkopharm(France)
- Bayer AG (Germany)
- Glanbia PLC (Ireland)
- Pfizer Inc. (US)
- ADM (US)
- The Nature’s Bounty (US)
- NU SKIN (US)
- Herbalife Nutrition of America Inc. (US)
- Nature’s Sunshine Products Inc. (US)
- Ayand (Pakistan)
- XanGo LLC (US)
- Nutracutics Corp (US)
- American Health (US)
- BPI Sport (US)
- Dymatize Enterprices LLC (US)
- Bionova (India)
- GlaxoSmithKline Inc. (UK)
- Himalaya Global Holdings Ltd. (India)
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Top Trends in Global Dietary Supplements Market
- One trend that Vantage Market Research (VMR) expects to see in the Dietary Supplements industry is the rising adult population is the largest user. Adult supplement usage is anticipated to rise due to changing lifestyles and demanding timetables among single professionals, causing nutritional inadequacies. Additionally, the primary driver of the market is the global increase in the adult prevalence of obesity, cardiovascular disease, diabetes, and other related illnesses.
- Another trend that VMR predicts will continue in the Dietary Supplements industry is escalating consumer investment in preventive healthcare products. The healthcare industry has been transitioning from curative treatments to preventative management worldwide. The healthcare sector makes a significant economic contribution. Healthcare expenses are influenced by the focus on care management, paying for value, and growing general inflation.
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Top Report Findings
- Based on Ingredients, the Vitamins category controls most of the Dietary Supplements market's revenue due to the growing need for power and carbohydrate restriction among young professionals and sportsmen. Due to the greater usage convenience index, customers take their multivitamins as tablets, powders, or liquids.
- Based on the Functions, the sports nutrition category controls most of the Dietary Supplements market's revenue due to a worldwide rise in youth sports participation. Additionally, the attractiveness of gymnasiums and fitness facilities among young people boosts sales of sports nutritional supplements.
- Based on Targeted Consumers, the children's category controls most of the Dietary Supplements market's revenue. The primary driver anticipated to drive the market is the higher incidence of obesity, cardiac disease, hypertension, and other related illnesses among children worldwide. Children's changing lifestyles and busy work schedules are causing nutritional inadequacies, which are anticipated to increase infants' usage of Dietary Supplements.
- Based on Applications, the tablets category controls most of the Dietary Supplements market's revenue. Due to their convenience in storage and consumption, these supplements are typically taken as pills. The increased demand for dietary supplement tablets is partly fueled by their longer shelf life and simple packaging. Makers of nutraceuticals should see a rise in the demand for capsules due to the growing necessity of microencapsulating finished goods to ensure release profile.
Recent Developments in the Global Dietary Supplements Market
- April 2021- Persona Nutrition, a well-known tailored vitamin program, introduced a daily gummy vitamin pack for the entire family. Numerous health objectives, such as stress relief, immune system support, improved attention, and general health maintenance, are addressed by this vitamin pack.
- February 2022-Under the brand Nutrilite, Amway India introduced tasty candies and mouth-dissolving jelly strips.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Dietary Supplements Market Forecast Report (2022-2028).
Tablets Category in Dietary Supplements Market to Generate Over 22% Revenue
For better understanding, based on the device type, the Dietary Supplements market is divided into Tablets, Capsules, Powders, Liquids, Soft Gels, and Gel Caps.
During the forecast period, the market for Dietary Supplements is anticipated to experience the highest CAGR for the tablets category. This is explained by the increased use of powder-based nutritional supplements, which is more widely available and has a larger market share. The growing appeal of green tea, dietary fibers, and protein powders is promoting the segment's expansion globally. This results from the rising use of multivitamins and supplement goods in tablet form, which is the appropriate dose form, has a lower price, a longer shelf life, is more practical, and is widely accessible.
On the other hand, the capsules category is anticipated to grow significantly. This can be related to the simplicity and ease of using capsules. The customer's chaotic and busy routines lead to an improper diet. Therefore pills provide the need for the consumer to meet daily nutritional requirements.
North America Region in Dietary Supplements Market to Generate a Substantial Revenue
North America dominates the market throughout the projection period because people use foods with high nutritional value but few calories more frequently. Additionally, new product launches are anticipated to raise awareness among consumers of the consumption of nutritional supplements in Mexico, which is predicted to fuel demand for Dietary Supplements over the projection period.
Besides, the Asia Pacific region is projected to be the fastest-growing segment in the market over the upcoming years. Rising per capita spending in the region on health-improving goods and rising consumer awareness are anticipated to fuel demand for Dietary Supplements. Additionally, due to the rising number of consumers in the region's member countries, the region is anticipated to be the largest market for Dietary Supplements.
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Key Questions Answered in the Report:
- What is the size and growth rate of the dietary supplements market?
- What are the key market trends, drivers, and challenges affecting the dietary supplements industry?
- What are the different types of dietary supplements available in the market, and what are their respective market shares?
- Who are the major players in the dietary supplements market, and what are their strategies for growth?
- What are the key regions and countries that are driving growth in the dietary supplements market?
- What are the regulatory frameworks governing the manufacturing, labeling, and marketing of dietary supplements, and how are they evolving?
- What are the key consumer segments that are driving demand for dietary supplements, and what are their preferences and buying behaviors?
- What are the future prospects and opportunities for the dietary supplements market, and how are they likely to evolve over time?
Global Dietary Supplements Market Segmentation
By Types
- Botanicals
- Vitamins
- Minerals
- Amino Acids
- Enzymes
- Probiotics
- Other Dietry Supplements
By Functions
- Additional Supplements
- Medicinal Supplements
- Sports nutrition
By Target Consumers
- Infant
- Children
- Pregnant woman
- Elderly
By Applications
- Tablets
- Capsules
- Powders
- Liquids
- Soft Gels
- Gel Caps
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 152.3 Billion |
| Revenue Forecast by 2030 | USD 269.3 Billion |
| CAGR | 8.5% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Amway Corp, Abbot, Arkopharm, Bayer AG, Glanbia PLC, Pfizer Inc., ADM, The Nature’s Bounty, NU SKIN, Herbalife Nutrition of America Inc., Nature’s Sunshine Products Inc., Ayand, XanGo LLC, Nutracutics Corp, American Health, BPI Sport, Dymatize Enterprices LLC, Bionova, GlaxoSmithKline Inc., Himalaya Global Holdings Ltd. |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
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