The size of the worldwide market for dietary supplements was projected to be US$ 164 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2032, to reach US$ 346.16 billion.
.jpg
"The Global Dietary Supplements Market 2022-2032 (USD Billion)")
The global dietary supplements market is growing due to the rising acceptance of preventive management than curative practices in healthcare sector and growing health awareness towards the weight management among all age groups across the world. In addition, considerable rise in the number of fitness centers and gymnasiums in developed and developing economies can push the market over the next few years.
Dietary supplements are substances that are used to add nutrients to the diet or to lower the risk of health problems, like osteoporosis or arthritis. In order to increase the quality of consumption, supplements provide nutrients either extracted from food sources, individually or in combination. Dietary supplements are available in the form of powders, pills, capsules, gel tabs, extracts, or liquids. They might contain vitamins, minerals, fiber, amino acids, proteins, or feed enzymes. Sometimes, the ingredients in dietary supplements are added to foods, including drinks. The major application of dietary supplements in energy & weight management, bone & joint health, general health, gastrointestinal health, immunity, cardio health, diabetes, and anti-cancer engross the dietary supplements market in the forecast period. Rising demand for microencapsulation in the pharmaceutical industry to provide color characteristics and the quality of finished dairy ingredients is anticipating dietary supplements manufacturers to use capsule dosage forms over the forecast period.
Furthermore, growing health awareness about the weight management, health issues due to changing lifestyle along with rapid urbanization, rise in disposable income are anticipated to boost the dietary supplement market. Rising prevalence of chronic diseases such as cardiovascular disease, hypertension, cancer, and diabetes mellitus as well as the good effects associated with plant-extracted drugs over synthetic drugs are some of the factors which bolster the dietary supplement market. Rising concerns over the adverse effects of conventional medicines, lack of medical aid, a general skepticism about allopathic medicines and food fads are expected to promote the use of botanical extracts as an ingredient for the production of dietary supplements. These factors are expected to drive the demand of dietary supplements over the next few years. However, safety, efficacy, labelling challenges and the rising prices of dietary supplements are some of the factors expected to hinder the overall growth of dietary supplement market at a global level.
Dietary Supplements Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | US$ 346.16 billion |
| Growth Rate | CAGR of 7.8 % during 2022-2032 |
| Segment Covered | Ingredients, Form, User, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | ADM, Inc., Abbott Laboratories, Carlyle Group, Amway, Glanbia Nutritionals, Bayer AG, Herbalife International, and GSK (GlaxoSmithKline). |
Key Segments of the Global Dietary Supplements Market
Ingredients Overview, (USD Billion)
- Botanicals
- Vitamins
- Minerals
- Protein & Amino acids
- Omega Fatty acids
- Others
Form Overview, (USD Billion)
- Tablets
- Capsules
- Powder
- Liquids
- Soft Gels
- Others
User Overview, (USD Billion)
- Pediatrics
- Adults
- Prenatal
Regional Overview, (USD Billion)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Dietary Supplements market.
- Dietary Supplements is widely used for various end uses as vitamins and minerals, owing to their excellent properties and the market is expected to gain traction over the coming years
- With the growing use of protein & amino acids, there is a rise in the demand for Dietary Supplements which is further expected to have a positive impact on the overall market growth
What does the report include?
- The study on the global Dietary Supplements market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Dietary Supplements industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on Ingredients, Form and Users. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Dietary Supplements market. The report will benefit: Every stakeholder involved in the Dietary Supplements market.
- Managers within the Dietary Supplements industry looking to publish recent and forecasted statistics about the global Dietary Supplements market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Dietary Supplements market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The market value of dietary supplements market in 2032 was US$ 346.16 billion.
The dietary supplements market is growing at a CAGR of 7.8% during the forecast period.
The base year for the report is 2023 in dietary supplements market.
The global dietary supplements market has shown a remarkable growth in the recent times. Growing health awareness towards weight management among all age groups as a result of extensive brand campaigning by nutritional product manufacturers is anticipated to drive the dietary supplements market growth. Increasing preference for sports activity as an academic curriculum in education systems and the positive outlook towards sports nutrition is among the major market drivers. In addition, rise in the number of sports centers, fitness centers and gymnasiums is expected to bolster the growth. The growing interest of the adult population in personal fitness has spiked the demand for vitamins, and minerals since they provide preventive measures against health problems. Also, seasonal health alerts such as the spread of swine flu viruses have aided in fuelling the consumer interest in immune-boosting supplements and this, in turn, drives the vitamin and dietary supplement industry.
There is an increase in sale of dietary supplements due to growing consumer awareness regarding health issues and also due to rapid urbanization along with rise in disposable income which is expected to propel the market growth over the next few years. The rising prevalence of chronic diseases such as arthritis, cardiovascular problems, and diabetes and favorable outlook towards medical nutrition is expected to propel the product demand. Nowadays, fluctuations in diet intervals among working individuals coupled with the hectic work schedules has generated the need for nutrition from external sources such as dietary supplements, which is anticipated to bolster the market. Rising concerns over the adverse effects of conventional medicines including allopathic drugs and the demand for herbs for the prevention of mental as well as physical disorders are expected to promote the use of botanical extract as an ingredient for the production of dietary supplements over the next few years.
The dietary supplements market is hampered due to lack of awareness about consumption of dosage of the supplements and its rising prices. Rising geriatric population as most people in this age group cannot meet their Recommended Dietary Allowances (RDA) because of insufficient dietary intake has created various opportunities for the dietary supplement manufacturers, which results in increasing product demand.
The dietary supplements market has been segmented based on ingredients used, forms, users and regional. Based on ingredients used, the market has been classified into botanicals, vitamins, minerals, protein & amino acids, omega fatty acid and others. Vitamins is leading the dietary supplements market on the basis of ingredients used and is expected to remain largest segment over the forecast period due to its ability to excrete out easily by kidneys along with its more application among working professionals and sports athletes in the form of multivitamin tablets, powders, and liquids. The dietary supplements market has been segmented on the basis of forms, the market is classified into tablets, capsules, powder, liquids, soft gels and others. Dietary supplements in the form of tablets is leading the market and expected to remain largest due to the primary attributes that make tablets appealing among manufacturers are ease of formation, available in different sizes, shapes and formulation flexibility.
Based on regional segmentation, the market for dietary supplements are in North America, Europe, Asia Pacific, Latin America, and rest of the world. Asia Pacific has the largest market share in global dietary supplements market due to the emerging trend of personalized nutrition and individualized dietary guidelines for gym professionals indicates that one-third of consumers take dietary supplements to complete their nutrition goals. Rising need and popularity of protein powders among athletes and bodybuilders have further supported the demand for dietary supplements in this region.
.png "Asia Pacific Dietary Supplements Market 2018-2028 (USD Billion)")
The global dietary supplements industry is highly competitive with low barriers to entry. The dietary supplements market is marked by the presence of several manufacturers moving towards new sales channels to expand their reach to a diverse and broad range of customers. Some of the leading industry players include ADM, Inc., Abbott Laboratories, Pfizer, Arkopharma Laboratories Pharmaceutiques, Carlyle Group, Amway, Glanbia Nutritionals, Bayer AG, Herbalife International, and GSK (GlaxoSmithKline).