Dietary Supplements Market Size, Share & Trends Analysis Report by Ingredient (Vitamins, Minerals), by Form, by Application, by End User, by Distribution Channel, by Region, and Segment Forecasts, 2022 To 2030.

 Pulichser: Innovation Market Research

May 2022

 Pages: 212

 IMR 5687

Dietary Supplements Market size is expected to reach USD 327.4 billion by 2030. The market is expected to expand at a CAGR of 8.9% over the forecast period. Growing awareness regarding personal health and wellness owing to changing eating habits and hectic lifestyles is expected to drive the demand for dietary supplements over the forecast period. Increasing urbanization and growing disposable income around the world is driving the demand for products that can cover the nutritional deficit at higher convenience is the key factor driving the demand for vitamins, minerals, proteins and amino acids, and other supplement products around the world.

The increasing interest of millennials in building health through a healthy diet is expected to positively impact market growth. The obesity rate in adults in the U.S stood at 42.4% in the year 2020 which has increased from 26.0% in 2008. The Obesity rate in the European region was above 51.6% in 2014 and is continuously rising. The increasing prevalence of diseases like cardiovascular diseases, diabetes, high blood pressure is expected to bolster the demand for dietary supplements, especially in energy and weight management, gastrointestinal health, and cardiac health applications.

The rising trend of veganism around the globe is expected to benefit the plant-based nutritional products around the globe which is expected to drive the demand for botanical ingredient-based dietary supplements over the forecast period. For instance, In Jan 2021, Flume Formulas Ltd. introduced a product line of botanical supplements which included products FLOW, DRIFT, and BASK for athletes which can be used as pre-workout and post-workout energy and recovery application. Similarly, in July 2019, Amway Corp. introduced an improved version of calcium supplement Nutrilite Cal Mag D Plus in India. The company aimed to acquire an 11% market share in calcium supplements with the product launch.

The global outbreak of the COVID-19 pandemic has largely impacted the industrial output in the majority of the countries. However, the demand for food and beverage and pharmaceutical products remained unaffected. Though the companies faced challenges in terms of logistics due to imposed lockdown. The increasing demand for immunity-boosting supplements including vitamins, minerals, and several herbs benefitted the market in the year 2020.

Key Trends:

Consumers are becoming more health-conscious, leading to a growing interest in preventive healthcare. As a result, there is a rising demand for dietary supplements to complement their nutrition and support overall well-being. The global aging population is driving the demand for supplements that address age-related health concerns. Supplements with ingredients like collagen, omega-3 fatty acids, and antioxidants are gaining popularity among the elderly. Consumers are seeking tailored solutions to meet their specific health needs. Companies are responding by offering personalized dietary supplements based on individual preferences, lifestyles, and health goals. With the rising popularity of veganism and a focus on sustainable practices, consumers are gravitating towards plant-based and natural dietary supplements. This trend is also fueled by concerns over synthetic ingredients and potential side effects.

The proliferation of e-commerce platforms and online shopping convenience has transformed the dietary supplements market. Consumers now have easy access to a wide variety of products, which has significantly boosted sales and market growth. An increasing number of individuals are adopting active lifestyles and engaging in sports and fitness activities. This has resulted in a surge in demand for sports nutrition supplements, such as protein powders and amino acids, to aid in performance and recovery.

Opportunities:

The Dietary Supplements Market presents a promising opportunity with a bright future outlook. As consumer awareness of health and wellness continues to rise, the demand for dietary supplements has witnessed substantial growth. These products offer a convenient and accessible way for individuals to complement their diets with essential vitamins, minerals, and other nutrients.

One of the key drivers propelling the dietary supplements market is the increasing focus on preventive healthcare. As people become more health-conscious, they are seeking proactive measures to maintain their well-being and prevent various ailments. This shift in consumer behavior has led to a surge in the adoption of dietary supplements as part of daily routines.

Additionally, the aging population across the globe has also contributed to the market's expansion. As individuals age, they tend to require additional nutritional support to address age-related health concerns. Consequently, the demand for supplements catering to joint health, bone strength, and cognitive function has risen significantly.

Furthermore, the growing trend of fitness and sports nutrition has created a substantial market segment for performance-enhancing supplements. Athletes and fitness enthusiasts are increasingly incorporating supplements like protein powders, amino acids, and creatine into their regimens to optimize their physical performance and recovery.

Advancements in product formulations, innovative delivery systems, and improved manufacturing processes have also played a vital role in bolstering the dietary supplements market. Manufacturers are continuously researching and developing new ingredients and formulations that cater to specific health needs, which appeals to a diverse range of consumers.

However, it is essential to acknowledge the regulatory challenges faced by the industry. Government agencies around the world closely scrutinize dietary supplements to ensure product safety and accurate labeling. Complying with these regulations can be complex and time-consuming, but it is crucial to maintain consumer trust and confidence in the industry.

Despite these challenges, the future outlook for the dietary supplements market remains positive. The ongoing focus on health and wellness, coupled with rising disposable incomes in many regions, is expected to fuel continued growth. Additionally, the expansion of e-commerce and online retail platforms has made these products more accessible to consumers worldwide, further contributing to market expansion.

Dietary Supplements Market Report Highlights

The proteins and amino acids segment is expected to register the fastest revenue CAGR of 13.4% over the forecast period. The increasing number of sports enthusiasts, bodybuilders coupled with increasing awareness among the consumers regarding the importance of protein supplements are the key driving factors of the segment.

The tablets segment accounted for the largest revenue share valued at USD 51,141.5 million in 2021. The major reason behind the high market share is their cost-effectiveness and ability to deliver a precise dosage.

The energy and weight management segment accounted for 30.6% of revenue share in 2021. The increasing prevalence of obesity among adults and children around the globe owing to changing food habits is expected to drive the demand for weight management products over the forecast period.

The infant end-user segment is expected to witness a CAGR of 13.4% over the forecast period. Higher prevalence of malnutrition among infants in developing countries coupled with the growing acceptance of infant food products by the parents' concern with the health of their children are the key reasons for segment growth.

North America accounted for the largest revenue share valued at USD 52,874.7 million in 2021. Higher per capita income, high urbanization rate, and higher consumer awareness regarding health and wellness are responsible for the higher consumption of the dietary supplements.

Key players:

Bayer

NBTY Inc

Bionova Lifesciences

Nu Skin Enterprises

Carlyle Group

Pfizer

Arkopharma Laboratoires Pharmaceutiques

Glanbia

Herbalife International

Abbott Laboratories

GlaxoSmithKline

Nature’s Sunshine Forms

Amway

Archer Daniels Midland

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