Global Dietary Supplements Market Overview
The global Dietary Supplements market size was valued at USD 251.9 BN in 2021 and is estimated to grow at a CAGR of 9.9% during the forecast period. Dietary Supplements is a nutraceutical product that can be consumed orally to improve human health. The factors such as growing health concerns and the hectic lifestyle and nutritional habits have propelled the demand. The rising demand for sports nutrition drinks is also encouraging the sales of the product. Rising in the number of sports events globally boosts athletes to focus on physical strength. Growing urbanization and a rise in disposable income with increasing awareness of health issues and complications are the driving factors for increasing the global dietary supplements market. In addition to this, favorable preferences towards medical nutrition owing to rising cardiovascular-related diseases and the growing weight management programs are anticipated to surge the demand for dietary supplements in the upcoming years.
The e-commerce portals play an essential role in boosting the demand as it gives access to the product through key benefits comprises discounts and COD options and is projected to create new opportunity over the forecast period. The FDA strict many regulations regarding labeling the food supplement due to rising cases of violations of label standards and quality products. Thus, resulting in the manufacturers are projected to increase the spending for the development of products with superior quality during the forecast period. Dietary supplement products help promote a healthier life by offering the essential nutrients required for a healthy body. Infant’s malnutrition is a significant crunch across developing countries. This factor is likely to create an avenue for the players especially in African countries. On the other side, there are few side-effect related to over consumption of dietary supplements, which hamper the market growth. For example, overconsumption of vitamin A can cause dizziness, nausea, headaches, skin irritation, joint pain, etc.
The global dietary supplements market is high competitive due to presence of large number of companies. The report studies a few key players of the global dietary supplements market in detail, covering the company profile, major product, and financial information. The dominating key players included in the report are Amway; Abbott Laboratories; Arkopharma Laboratoires Pharmaceutiques; Bayer; Glanbia; Pfizer; Archer Daniels Midland; Carlyle Group; NBTY Inc.; Nu Skin Enterprises; GlaxoSmithKline; Herbalife International; Nature’s Sunshine Forms; and Bionova Lifesciences and many others.
In this market research report, the market is segmented by ingredient, form, applications, end-user, distribution channel and region.
Analysis by Ingredient
The market is segmented into vitamins, minerals, botanicals, proteins, and amino acids, omega fatty acids, fibers, and specialty carbohydrates by ingredients. Vitamin is dominating the segment accounting for 35% market revenue share of the total market in 2019. Vitamin based products are likely to find more penetration among professionals and sports athletes in the form of multivitamin tablets, powders, and liquids. In addition to this, the growing demand for herbs in order to prevent from many disorders is projected to propel the botanical segment during the forecast period. Furthermore, growing knowledge over the adverse effects of conventional medicines, including allopathic drugs, is likely to encourage the use of botanical extracts as constituents for dietary supplements.
Analysis by Form
By Form, the market has been categorized into Tablets, Capsules, Soft gels, Powders, Gummies, Liquids, and Others. Among these, the tablet dominates the segment that contributed about 35% of the total market share in 2019, in terms of revenue. Tablets are the most used form of dietary supplements owing to the cost-effectiveness and are highly preferred due to their extended shelf life and easy material packaging into given space.
Analysis by Application
The major application segment includes Energy and weight management, general health, bone, and joint health, immunity, gastrointestinal health, immunity, cardiac health, diabetes, and anti-cancer. In 2019, energy and weight management holds the largest market revenue share accounted for 28%, due to the growing trend of online weight management programs and government programs for promoting a healthy diet. Further, the rising prevalence of chronic diseases such as cardiovascular issues and diabetes and the advantages of plant-based drugs over synthetic drugs are factors estimated to drive the market during the forecast period.
Analysis by End User
The market has been divided into adults, geriatric, pregnant women, children, and infants by end-user. Adults are the significant consumer segment and accounted for 47.8% market revenue share of the total market in 2019. Growing awareness regarding fat reduction and increasing focus on enhancing nutrition intake is expected to endorse the segment growth over the upcoming years.
Analysis by Distribution Channel
Based on the distribution channel, the market is bifurcated into OTC and prescribed. OTC held the largest market share accounted for over 70% of market revenue share in 2019. Rising demand for the products specifically targeted at skin health, personal care, and digestive health is expected to influence growth positively. The sales for products are highly penetrated in hypermarkets and supermarkets, with OTC products contributing over 50% of the total sales in developed countries.
Analysis by Region
The global dietary supplement has been studied across North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Among these, North America region accounted for over 40% market share of the total market in terms of revenue in 2019. The growth of this region attributed to rising demand for sports nutrition products due to growing importance of hectic lifestyle coupled with rising awareness of benefits of protein intake with low calorie level and high nutritional value. In Asia Pacific, the market is primarily driven by rising awareness towards healthy diet in countries like China and India. In addition to this, growth in the organized retail sector in emerging market such as China, India, and Malaysia with support to promote investment is anticipated to boost the demand at regional level.
Market Segmentation covered in the Report:
- Proteins & Amino Acids
- Fibers & Specialty Carbohydrates
- Omega Fatty Acids
- Soft gels
By End User
- Energy & Weight Management
- General Health
- Bone & Joint Health
- Gastrointestinal Health
- Cardiac Health
By Distribution Channel
- Pregnant Women
- North America
- Asia Pacific
- Latin America
- Middle East And Africa
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Frequently Asked Questions (FAQs) about this Report
b. The global dietary supplements market is expected to be valued USD 251.9 BN in 2021.
b. The worldwide dietary supplements market is estimated to grow at a 9.9 of around 9.9% from 2023 to 2028.
b. North America accounts for the largest share of the global dietary supplements market.
b. The global dietary supplements market is segmented by Ingredient (Vitamins, Botanicals, Minerals, Proteins & Amino Acids, Fibers & Specialty Carbohydrates, Omega Fatty Acids, Others), by Form (Tablets, Capsules, Soft gels, Powders, Gummies, Liquids, Others), by Application (Energy & Weight Management, General Health, Bone & Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-cancer, Others), by End User (Adults, Geriatric, Pregnant Women, Children, Infants, by Distribution Channel (OTC, Prescribed).
b. The leading players in the global dietary supplements market are Amway, Abbott Laboratories, Arkopharma Laboratoires Pharmaceutiques, Bayer, Glanbia, Pfizer, Archer Daniels Midland, Carlyle Group, NBTY Inc., Nu Skin Enterprises, GlaxoSmithKline, Herbalife International, Nature’s Sunshine Forms, and Bionova Lifesciences.