|Market Size in 2020||Market Forecast in 2028||CAGR (in %)||Base Year|
|USD 191.1 Billion||USD 307.8 Billion||5.9%||2020|
Dietary Supplements Market
The global Dietary Supplements market size accounted for USD 191.1 Billion in 2020 and is expected to reach USD 307.8 Billion by 2028, growing at a CAGR of around 5.9% between 2021 and 2028.
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Rising consumer awareness regarding personal health and well-being is predicted to be a key factor driving the marketplace for dietary supplements over the forecast period. The working population around the globe is struggling to satisfy the daily nutrient requirements due to hectic work schedules and changing lifestyles. This is often increasing their dependency on dietary supplements to satisfy their nutrient requirements due to their high convenience, which, in turn, is forecast to push the market over the forecast period. The US emerged as the number one market within the North American region in 2020 due to the upper expenditure capacity of the consumers.
Increasing spending on healthcare products, the increasing geriatric population, and growing interest in preventive healthcare and attaining wellness through diet are predictable to reinforce the market growth over the forecast period. A swelling number of health clubs, fitness centers, and gymnasiums, including the growing awareness about fitness among youngsters, is predicted to extend the demand for energy and weight management. Increasing acceptance of sports as a career is predicted to extend the demand for sports nutrition, which, in turn, benefits market growth. R&D is the key success factor for dietary supplements, which require significant investments. Moreover, stringent regulations regarding the health benefits claim and labeling of the products are expected to make challenges for the market over the forecast period.
The demand for nutraceuticals & functional foods is predicted to witness an upward surge due to consumers choosing immunity-boosting supplements during the COVID-19 pandemic. Furthermore, a decline in the consumption of poultry, meat, and seafood products across the world is foretold to extend the demand for plant and animal-based protein supplements shortly. The unparalleled Covid-19 outbreak has mainly affected European and North American countries, such as the US, Italy, Spain, the U.K., Germany, and France. The dietary supplement industry is largely focused in these regions, which in turn, promoted the situation as the market observed a surge in demand for immunity-boosting supplements.
The market is increasingly driven by rising health awareness, shifting consumer preferences, a growing geriatric population, and the adoption of a healthy diet. The convergence of major industry trends is giving rise to new opportunities for key players within the industry. Dietary habits and changing lifestyles are one of the main factors escalating the demand for dietary supplements. The growing positive outlook toward sports nutrition would also positively impact the market.
|Report Attributes||Report Details|
|Report Name||Dietary Supplements Market Research Report|
|Market Size in 2020||USD 191.1 Billion|
|Market Forecast in 2028||USD USD 307.8 Billion|
|Growth Rate||CAGR of 5.9%|
|Number of Pages||140|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Amway, Integrated BioPharma, Inc., NBTY, Inc., Herbalife Ltd., Omega Protein Corporation, Nu Skin Enterprises, Inc., Bayer AG, Naturalife Asia Co., Ltd., Nu Skin Enterprises, Inc., Blackmores Ltd., BASF SE, Epax AS, Surya Herbal Ltd., Koninklijke DSM N.V., Bio-Botanica Inc., The Himalaya Drug Company, Ricola AG, Pharmavite LLC, Blackmores Ltd., and Axellus AS.|
|Segments Covered||By Ingredient, By Application, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Countries Covered||North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|Historical Year||2016 to 2020|
|Forecast Year||2022 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Vitamins dominated the market and accounted for a 30% share in 2020 owing to high demand from working professionals and sports athletes for energy and weight management. The users consume multivitamins through tablets, powder, and liquid due to the upper convenience index in terms of usage.
Dietary supplements are primarily used to fulfill nutritional deficiencies in humans. Increasing awareness among consumers regarding personal health and wellness is predicted to drive the demand for dietary supplements, including protein and amino acids, minerals, vitamins, and omega fatty acids, over the forecast period. Growing awareness regarding gut health due to the increasing prevalence of constipation, irritable bowel syndrome, acid reflux, and indigestion around the globe is predicted to drive the demand for fibers and specialty carbohydrates from the gastrointestinal health application segment over the forecast period.
Globally, Asia Pacific has been leading the worldwide dietary supplements market and is anticipated to continue in the dominant position within the years to return, states the dietary supplements market study. Large-scale product availability and growing awareness among purchasers about the advantages of its consumption is the main factor behind the dominance of the Asia Pacific dietary supplements market. For the record, APAC contributed over 31% of the dietary supplements market share in terms of volume in 2016.
The report covers a detailed competitive outlook including the market share and company profiles of the key participants operating in the global market some of the key manufacturers included in the study are
The global Dietary Supplements Market was valued at USD 191.1 Billion in 2020.
The global Dietary Supplements Market is expected to reach USD 307.8 Billion by 2028, growing at a CAGR of 5.9% between 2021 to 2028.
Rising consumer awareness about preventive healthcare and the rapidly rising geriatric populace is likely to contribute substantially towards the dietary supplements market revenue over the coming years. Furthermore, the introduction of new dietary supplement products is predicted to open new growth dimensions for the dietary supplements market shortly.
The Asia Pacific has been leading the worldwide dietary supplements market and is anticipated to continue in the dominant position in the years to come,
Some of the major players in the global Dietary Supplements market include Amway, Integrated BioPharma, Inc., NBTY, Inc., Herbalife Ltd., Omega Protein Corporation, Nu Skin Enterprises, Inc., Bayer AG, Naturalife Asia Co., Ltd., Nu Skin Enterprises, Inc., Blackmores Ltd., BASF SE, Epax AS, Surya Herbal Ltd., Koninklijke DSM N.V., Bio-Botanica Inc., The Himalaya Drug Company, Ricola AG, Pharmavite LLC, Blackmores Ltd., and Axellus AS.
A product that is designed to complement the diet and contains one or more nutritional elements such as vitamins, minerals, herbs, amino acids, or other substances is known as a dietary supplement. Dietary supplements can come in a variety of forms.
Nutritional supplements are available in a wide variety of formats, including bars, capsules, tablets, powders, and liquids. These items are not intended to serve as a substitute for food; rather, they are designed to supply additional nutrients that a person's diet might be lacking. Some individuals turn to dietary supplements in order to help them achieve their nutritional requirements, boost their athletic performance, or generally improve their health and well-being.
It is essential to be aware that dietary supplements are not subject to the same stringent regulations as pharmaceuticals, and that producers do not need to provide evidence of the product's viability or efficiency before they can put them on the market. As a result of this, it is essential to conduct thorough research, pick dietary supplements of high quality that are produced by manufacturers with a good reputation, and consult a medical practitioner before beginning to take any new supplement.
Dietary supplements may be beneficial to different people for a variety of reasons, including the following:
Those who do not consume a diet that is balanced or who have certain medical issues that prevent them from absorbing nutrients adequately may benefit from taking dietary supplements. Persons who do not consume a diet that is balanced may also benefit from using dietary supplements.
Those who don't get enough iron or vitamin D, for instance, may find that taking supplements helps them satisfy their nutritional requirements more effectively. Women who are pregnant or breastfeeding: It is possible that women who are pregnant or breastfeeding would benefit from taking particular dietary supplements in order to guarantee the healthy development of their child. Folic acid, for instance, is indicated as a precautionary measure against birth malformations for women who are pregnant or who are attempting to conceive a child.
Athletes and active individuals: Athletes and active individuals may gain assistance for their physical performance and recovery from consuming certain dietary supplements. For instance, taking protein supplements after exercise may assist in the development and repair of muscle tissue.
Those who are 65 years of age or older: Individuals who are 65 years of age or older may benefit from taking specific dietary supplements to enhance their health and wellness. Supplements such as calcium and vitamin D may, for instance, be of assistance in maintaining bone health in senior citizens.
It is essential to keep in mind that dietary supplements are not intended to serve as a replacement for a nutritious and well-balanced diet. Instead, their purpose is to act as a supplement to a person's diet in order to assist them in meeting their nutrient requirements.