Global Dietary Supplements Market Insights
Dietary Supplements Market size was valued at USD 148.8 billion in 2021 and is poised to grow from USD 159.7 billion in 2022 to USD 283 billion by 2030, growing at a CAGR of 7.4% in the forecast period (2023-2030).
Dietary supplements are items that contain vital vitamins, minerals, nutrients, amino acids, botanical extracts, and enzymes to develop better health. The underlying health issues are increasing in the population and the need for dietary supplements is expected to rise. The population now-a-days are more concerned with having a well-balanced diet and increasing their intake of healthful foods that offer potential health advantages. With the growth of ailments such as diabetes and obesity, consumers are becoming more conscious of their consumption. The growth in the number of worldwide athletic events concentrating on enhancing physical strength, as well as an increase in the number of gyms, health clubs, and fitness centres is likely to drive the dietary supplement demand in the forecast period. As a result, the dietary supplement business has expanded rapidly in recent years.
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Analysis:
Global Dietary Supplements Market Segmental Analysis
The global dietary supplements market is segmented based on type, distribution channel, form, end user, ingredients, and region. Based on type, the market segmentation comprises vitamins, carotenoids, minerals (major minerals, trace minerals), probiotics, proteins (plant proteins, animal/dairy proteins, microbe proteins, insect proteins), amino acids, carbohydrates, fats & fatty acid, lipids, enzymes, others.
Based on distribution channel, the market is segmented into OTC, and prescription. Based on form, the dietary supplements market is segmented into tablets, capsules, soft gels, powders, gummies, liquids, others. Based on end-user, the industry is segmented into adults, geriatrics, infants, children, and pregnant women. based on ingredients, the Dietary Supplements Market is segmented into vitamins, botanicals, minerals, proteins & amino acids, fibers & specialty carbohydrates, omega fatty acids, and other. Based on region, the global market spans North America, Europe, Asia-Pacific, and MEA.
Dietary Supplements Market Analysis by Type
Based on the type, vitamins accounted for a maximum market share followed by botanicals, probiotics, and other dietary supplements segments. Vitamin deficiency is on the rise in many nations, and to make up for this, individuals are taking vitamin supplements. Lack of minerals can lead to major health issues in adults and pregnant women, which is driving up demand for the mineral market. With increased bodybuilding and weight loss activities, the demand for protein supplements is also anticipated to increase in the upcoming years. Followed by botanicals, the market for herbal dietary supplements has experienced strong value sales growth. The market for herbal supplements is primarily being driven by growing consumer knowledge of the health advantages of consuming plant-based food products and by an increase in the number of customers who are health-conscious. Horehound, Yohimbe, cranberry, black cohosh, senna, cinnamon, and flaxseed are a few of the major herbal dietary supplements that have gained more popularity in recent years.
Dietary Supplements Market Analysis by Method of Application
Global dietary supplements market has been segmented on the basis of method of application as tablets, capsules, liquids, powders, soft gels, and gel caps. Among these, the tablets segment of the market dominated the market due to their high level of convenience, which has ensured a strong customer preference. Further, the market segments are followed by liquid, powders, capsules, soft gels, and gel caps. Herbal supplements endurance and improve physical performance and hence the demand for beverage formats, such as protein shakes and green tea has increased dramatically, particularly among health enthusiasts. Consequently, the liquids segment is anticipated to experience a greater growth rate in terms of value sales throughout the projected period.
Dietary Supplements Market Top Player's Company Profiles
- Amway Corporation
- Abbott Laboratories
- Archer Daniels Midland Company
- Bayer AG
- Glanbia plc
- Herbalife Nutrition Ltd.
- GlaxoSmithKline plc
- Nestlé S.A.
- Pfizer Inc.
- DSM Nutritional Products AG
- Nature's Bounty Co.
- Otsuka Holdings Co., Ltd.
- Pharmavite LLC
- GNC Holdings Inc.
- Suntory Holdings Limited
- The Himalaya Drug Company
- The Nature's Way Co.
- NOW Foods
- USANA Health Sciences, Inc.
- XanGo, LLC
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