Global dietary supplements market was valued at USD 140.33 billion in 2020. It is projected to grow at an 8.6% compound annual growth rate (CAGR), between 2021 and 2028. The market for dietary supplements will be driven by consumer awareness about their personal health and well-being over the forecast period. Due to their hectic work schedules, and changing lifestyles, many people are finding it difficult to meet their daily nutritional needs. Due to their convenience, this is making it more difficult for them to obtain the necessary nutrients. This will drive the market in the forecast period.
Due to its higher spending power, the U.S. was the leading market in North America in 2020. Market growth is expected to be boosted by rising healthcare spending, a growing geriatric population, increased interest in preventive health care, and better diets.
The growing popularity of gyms, fitness clubs and health clubs is expected to boost the demand for energy and weight control. The market will benefit from the increasing acceptance of sports as a career.
Research and development are key success factors in dietary supplements. These investments require substantial investment. Market challenges will also be created by stringent regulations concerning the labeling and health benefits of products.
The unusual coronavirus (Covid-19), outbreak has affected a large portion of North America and Europe, including the U.S. and U.K. These regions are home to a large portion of the dietary supplement industry, which has benefited from the increased demand for immune-boosting supplements.
The market was dominated by vitamins and they accounted for 31.4% of the total in 2020. This is due to high demand from athletes and working professionals for energy and weight management. Multivitamins are consumed in tablets, powder, or liquid form due to their higher convenience index.
Botanicals accounted for the second largest share of the market in 2020, and they are expected to grow significantly over the forecast period. The forecast period will see a rise in demand for botanicals due to the growing acceptance of veganism around the world.
The highest expected CAGR for proteins and amino acids is 13.3% during the forecast period. Market growth is expected to be driven by the rising demand for protein supplements like whey powders and amino acids products like creatine and tyrosine. This is due to increasing awareness about health and diet.
Manufacturers of energy and weight management products are now focusing on nutraceutical ingredients to increase the nutritional value. This has led to a rise in demand for specialty carbs and fibers that can be indigestible but also help with weight management, blood sugar control, and reducing cholesterol.
In 2020, the market's largest segment was energy and weight management. It accounted for 29.5% of the total revenue. You can also use dietary supplements for general health, bone, joint, heart health, immune, diabetes, lungs detox/cleanse and other purposes.
Dietary supplements are used primarily to correct nutritional deficiencies in people. Over the forecast period, consumers will be more aware of their personal health and well-being and will demand dietary supplements including vitamins and minerals as well as dietary supplements.
The increasing awareness about gut health due to rising prevalence of irritable stool syndrome, acid reflux and indigestion around world is expected to drive demand for specialty carbohydrates in the gastrointestinal health segment over the forecast period.
Over the forecast period, the immunity application market is expected to grow at 8.5% CAGR. Global demand for immune-boosting products has grown due to the COVID-19 epidemic in 2020. In 2020, immunity-boosting vitamins, minerals and herbs saw a spike in demand. This trend is expected to continue until the vaccine reaches all people, which will benefit the segment's growth.
OTC channel was responsible for the highest revenue share at 73.2% in 2020. It is expected to continue its lead during the forecast period. OTC channel sales of dietary supplement are expected to grow steadily due to consumer awareness about the health benefits of dietary supplement.
Supermarkets/hypermarkets contribute significantly to the sales of dietary supplements in Europe and North America owing to higher prevalence. The availability of a wide range of products and higher discounts are responsible for the growth of sales through supermarkets/hypermarkets. The forecast period will also see an increase in the number of hypermarkets in developing countries, which is expected to boost sales of dietary supplement products.
OTC distribution channels for dietary supplements also include specialty and nutrition stores. Specialty stores carry more products within a single category. This allows consumers to discover unique products they can't find in other retail outlets. Hypermarkets and supermarkets are losing market share due to the rapid growth of specialty shops. This is because they offer a wide range of products in one category, flexible store formats and unique product displays.
Distribution of dietary supplements through the prescribed channel will be driven by strict regulations from the governing bodies and a lack of awareness among the public about labeling and health claims. Over the forecast period, the prescriptions for dietary supplement for people with nutritional deficiencies will increase to ensure that the channel is able to sell more.
The market was dominated by adults, accounting for 47.2% of total revenue in 2020. Adults will be more likely to consume dietary supplements due to their hectic lifestyles.
Market growth is expected to be driven by the increasing prevalence of obesity, diabetes, heart disease, and other related conditions in adults all over the world. Over the forecast period, the market will be driven by the acceptance of sports as a career.
Market growth is expected to be boosted by the growing geriatric population, especially in North America, Europe and Asia Pacific. The geriatric population is more susceptible to many infections so the market for immunity boosters will grow, especially in the context of the covid-19 pandemic.
A growing awareness of the nutritional needs of infants and children is expected to increase the demand for dietary supplementation. Market growth is expected to be driven by the growing market for infant nutrition, as well as the increasing disposable income of the developing countries.
Tablets dominated the market, accounting for 34.2% of global revenue in 2020. The tablet segment is expected to grow in popularity due to its ease-of-use, lower cost, longer shelf life and greater convenience.
Over the forecast period, capsule manufacturers will see a rise in demand for capsules due to the increasing importance of microencapsulation. This is to ensure controlled release. The capsules market will face challenges due to their higher price than tablets.
Many brands, including Quest Nutrition and Optimum Nutrition as well as MusclePharm, are involved in the production of vitamin and mineral powders. The forecast period will see an increase in demand for powdered dietary supplement products among elite athletes, bodybuilders, and fitness lovers.
Over the forecast period, the liquid form will show the greatest CAGR at 10.7%. Liquid dietary supplement are liposomal supplements that can evenly dissolve in water, allowing for smooth consumption. The liquid form allows for the creation of blended products, which can be used in smoothies, yogurts, and other energy drinks.
North America was a major regional market, with a 35.7% revenue share in 2020. This is due to the increasing use of high-nutrition and low-calorie products. The demand for dietary supplements will be driven by increasing awareness of the benefits of supplement products in Mexico, as well as new product launches.
Asia Pacific is expected see significant growth during the forecast period. Due to the expanding consumer base in South Korea, India, China and China, the market will be the largest regional one by 2028. The forecast period will see a rise in demand for dietary supplements due to rising per capita incomes and increased awareness.
In 2020, the European region was responsible for a large revenue share. It is expected that it will grow at a CAGR 6.8% during the forecast period. The forecast period will see a rise in regional market awareness and a higher per capita disposable income from developed countries like France, Germany and the U.K.
With the market being highly competitive, both public and private players are focusing on innovation as well as research & development. Ayanda was granted a patent in April 2019 for a soft gel capsule that can be infused with active probiotic bacteria. The application of gels that carry probiotic bacteria was complicated before the invention. Gels were made at high temperatures, which makes it difficult for bacteria to survive. The following are some of the major players in the global market for dietary supplements:
Nu Skin Enterprises, Inc.
Herbalife International of America, Inc.
Nature's Sunshine Products, Inc.
Up Market Research published a new report titled “Dietary Supplements Market research report which is segmented by Form (Tablets, Powders, Capsules, Liquids, Gummies, Soft gels), by Distribution Channel (OTC, Prescribed), by Application (Bone & Joint Health, Anti-cancer, Gastrointestinal Health, Diabetes, General Health, Energy & Weight Management, Immunity, Cardiac Health), by Ingredient (Vitamins, Minerals, Botanicals, Omega Fatty Acids, Fibers & Specialty Carbohydrates, Proteins & Amino Acids), by End User (Pregnant Women, Infants, Children, Geriatric, Adults), By Players/Companies GlaxoSmithKline plc, Arkopharma, Nu Skin Enterprises Inc, Amway Corp, Bayer AG, Natures Sunshine Products Inc, Herbalife International of America Inc, Ayanda, Pfizer Inc, Glanbia PLC, ADM, Abbott, Bionova”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Dietary Supplements Market Research Report|
|By Form||Tablets, Powders, Capsules, Liquids, Gummies, Soft gels|
|By Distribution Channel||OTC, Prescribed|
|By Application||Bone & Joint Health, Anti-cancer, Gastrointestinal Health, Diabetes, General Health, Energy & Weight Management, Immunity, Cardiac Health|
|By Ingredient||Vitamins, Minerals, Botanicals, Omega Fatty Acids, Fibers & Specialty Carbohydrates, Proteins & Amino Acids|
|By End User||Pregnant Women, Infants, Children, Geriatric, Adults|
|By Companies||GlaxoSmithKline plc, Arkopharma, Nu Skin Enterprises Inc, Amway Corp, Bayer AG, Natures Sunshine Products Inc, Herbalife International of America Inc, Ayanda, Pfizer Inc, Glanbia PLC, ADM, Abbott, Bionova|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||248|
|Number of Tables & Figures||174|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Form (Tablets, Powders, Capsules, Liquids, Gummies, Soft gels), by Distribution Channel (OTC, Prescribed), by Application (Bone & Joint Health, Anti-cancer, Gastrointestinal Health, Diabetes, General Health, Energy & Weight Management, Immunity, Cardiac Health), by Ingredient (Vitamins, Minerals, Botanicals, Omega Fatty Acids, Fibers & Specialty Carbohydrates, Proteins & Amino Acids), by End User (Pregnant Women, Infants, Children, Geriatric, Adults).
Dietary Supplements Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Dietary Supplements Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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