Dietary Supplements Industry Overview
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Dietary Supplements Market Analysis
The dietary supplements market is projected to register a CAGR of 7.91% over the next five years.
After the impact of COVID-19, the market has witnessed a surge in demand for products that are good for digestive and immune health. Also, the sales of supplements, such as proteins, vitamins, omega-3 fatty acids, and others, witnessed immense growth. Such factors are positively impacting the market. Consequently, numerous products are being launched to cater to the growing demand.
The dietary supplements market is preliminarily driven by the paradigm shift toward preventive health management practices amid rising healthcare costs and the increasing burden of lifestyle diseases. Furthermore, digitization in the retail sector is expected to boost dietary supplement growth further. Similarly, the surging popularity of herbal supplements is expected to drive market growth in the forecast period. An increasing number of fitness centers, health clubs, and gymnasiums, coupled with the growing awareness about fitness among youngsters, is expected to increase the demand for energy and weight management supplements. Increasing acceptance of sports as a career is expected to boost the demand for sports nutrition, which, in turn, benefits market growth.
Dietary Supplements Industry Segments
Dietary supplements are functional foods that can deliver nutrients like vitamins, and minerals, among others. The dietary supplements market is segmented by type, distribution channel, and geography. By type, the market is segmented into vitamins, minerals, herbal supplements, proteins and amino acids, fatty acids, probiotics, and other types. By distribution channel, the market is segmented into pharmacies and drug stores, supermarkets and hypermarkets, online channels, and other distribution channels. Also, the study analyzes the dietary supplements market in emerging and established markets worldwide, including North America (United States, Canada, Mexico, and Rest of North America), Europe (Spain, United Kingdom, Germany, France, Italy, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America), and Middle East and Africa (South Africa, Saudi Arabia, and Rest of Middle East and Africa). For each segment, the market sizing and forecasts have been done on the basis of value in USD million.
|Proteins and Amino Acids|
|Pharmacies and Drug Stores|
|Supermarkets and Hypermarkets|
|Other Distribution Channels|
Dietary Supplements Market Trends
This section covers the major market trends shaping the Dietary Supplements Market according to our research experts:
Escalating Consumer Investment In Preventive Healthcare Products
Over the past few years, the global market has been witnessing a change from curative practices to preventive management in healthcare. The healthcare industry contributes extensively to the overall economy. Emphasis on care management, paying for value, and rising general inflation influence healthcare costs. Healthcare costs are substantially high in various regions globally, including developed countries. Such trends have prompted consumers to opt for health supplements.
Additionally, consumers have adopted a personalized approach to healthcare by investing in preventive products and services to deal with simpler metabolic disorders. Further, vegan and all-natural supplements are becoming popular. Also, global consumers have shown a greater inclination toward various supplement products that are good for gut health. Thus, probiotics witnessed substantial growth over the past few years, which in turn is driving the sales of interesting formats of supplements in the market. Therefore, the producers of dietary supplements are capitalizing on the application, formulation, and therapeutic expansion to other health benefits to regulate sales.
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Asia-Pacific Remains the Fastest Growing Market
The Asia-Pacific dietary supplements market witnessed rapid growth in developed and developing countries. The growing awareness about health supplements, growing population, and increasing disposable incomes are driving the dietary supplement market in the country. Additionally, the demand for supplements in countries like India, China, and Japan has increased in recent years owing to the considerable aging population in such developing countries. Due to the availability of raw materials, the dietary supplements market in the region is anticipated to offer significant investment opportunities, especially for herbal and ayurveda extract-based products. Moreover, partnerships between old and new players will likely support market growth in the region.
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Dietary Supplements Market Competitor Analysis
The global dietary supplements market includes leading players such as Pfizer, Glanbia Nutritionals, Abbott, Bayer AG, and Amway. The supplements market has a wide scope, considering the existing companies. With prevalent FDA regulations, the leading players have an upper edge and continue to dominate the market. Also, major global players have a geographical reach and high brand awareness among consumers, giving them an upper hand. The major players focus on product innovation, offering different flavors and fun-added formats like gummies and chewable.
Dietary Supplements Market Top Players
*Disclaimer: Major Players sorted in no particular order
Dietary Supplements Market Recent Developments
- September 2022: Abbott launched a brand-new Ensure formulation with HMB. As a science-based nutritional supplement, the new Ensure contains 32 essential nutrients such as protein, calcium, and vitamin D to help improve muscle and bone strength. It contains HMB or hydroxy-methyl butyrate, a new ingredient that helps counteract muscle loss and increases the strength and power of the body.
- August 2022: Optimum Nutrition, a Glanbia Performance Nutrition brand, launched its brand-new Gold Standard Protein Shake. The new drink has two flavors: chocolate and vanilla. Each serving contains 24 grams of protein.
- March 2022: PharmaNutrics launched five different dietary supplements in the United States. SerotomixPlus, GlucanPlus, Gaba 600, EnergixPlux, and CurcumixPlux serve different purposes for fatigue, stress, musculoskeleton, and anti-inflammatory support.
Dietary Supplements Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.3 Herbal Supplements
5.1.4 Proteins and Amino Acids
5.1.7 Other Types
5.2 Distribution Channel
5.2.1 Pharmacies and Drug Stores
5.2.2 Supermarkets and Hypermarkets
5.2.3 Online Channels
5.2.4 Other Distribution Channels
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Saudi Arabia
126.96.36.199 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Share Analysis
6.2 Most Adopted Strategies
6.3 Company Profiles
6.3.1 Amway Corporation
6.3.2 Abbott Nutrition
6.3.3 Glanbia PLC
6.3.4 Bayer AG
6.3.5 Pfizer Inc.
6.3.6 Suntory Holdings Ltd
6.3.7 Herbalife Nutrition
6.3.8 Glaxosmithkline PLC
6.3.9 Otsuka Holdings Co. Ltd
6.3.10 The Bountiful Company
7. MARKET TRENDS AND FUTURE OPPORTUNITY
Dietary Supplements Market Research FAQs
What is the study period of this market?
The Dietary Supplements Market market is studied from 2016 - 2027.
What is the growth rate of Dietary Supplements Market?
The Dietary Supplements Market is growing at a CAGR of 7.91% over the next 5 years.
Which region has highest growth rate in Dietary Supplements Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Dietary Supplements Market?
North America holds highest share in 2021.
Who are the key players in Dietary Supplements Market?
Pfizer Inc, Bayer AG, Glanbia plc , Abbott Nutrition, Amway Corporation are the major companies operating in Dietary Supplements Market.
Dietary Supplements Industry Reports
In-depth industry statistics and market share insights of the Dietary Supplements sector for 2020, 2021, and 2022. The Dietary Supplements research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Dietary Supplements report PDF.