The global Dietary Supplements market 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.
Market Overview
The global Dietary Supplements market 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.
Rising consumer awareness regarding personal health and wellbeing 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 the nutrient requirements due to their high convenience, which, in turn, is forecast to push the market over the forecast period. The US emerged as a 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 gymnasium, including the growing awareness about fitness among the 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 the 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.
COVID-19 Impact Analysis:
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 the 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 from the situation as the market observed a surge in demand for immunity-boosting supplements.
Growth Factors
The market is increasingly driven by rising health awareness, shifting consumer preferences, growing geriatric population, and 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 towards sports nutrition would also positively impact the market.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Ingredient Analysis Preview
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.
Application Analysis Preview
Dietary supplements are primarily used to fulfill nutritional deficiencies in humans. Increasing awareness among the 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.
Regional Analysis Preview
Globally, Asia Pacific has been leading the worldwide dietary supplements market and is anticipated to continue on the dominant position within the years to return, states the dietary supplements market study. Large-scale product availability and growing awareness among the purchasers about the advantages of its consumption is that the main factor behind the dominance of the Asia Pacific dietary supplements market. For the record, APAC contributed over 31% of dietary supplements market share in terms of volume in 2016.
Key Market Players & Competitive Landscape
The report covers a detailed competitive outlook including the market share and company profiles of the key participants operating in the global market are some of the key manufacturers included in the study are 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.
The global Dietary Supplements Market is segmented as follows:
By Ingredient
By Applications
By Region
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Ingredient
FIG NO. 2. Market Attractiveness Analysis, By Application
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Dietary Supplements Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Ingredient, 2020 & 2028
FIG NO. 7. Global Dietary Supplements Market for Botanicals, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Dietary Supplements Market for Botanicals, By Country, 2020 & 2028
FIG NO. 9. Global Dietary Supplements Market for Vitamins, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Dietary Supplements Market for Vitamins, By Country, 2020 & 2028
FIG NO. 11. Global Dietary Supplements Market for Minerals, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Dietary Supplements Market for Minerals, By Country, 2020 & 2028
FIG NO. 13. Global Dietary Supplements Market for Amino Acids, Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Dietary Supplements Market for Amino Acids, By Country, 2020 & 2028
FIG NO. 15. Global Dietary Supplements Market for Enzymes, Revenue (USD Billion) 2016 – 2028
FIG NO. 16. Comparative Revenue Analysis of Dietary Supplements Market for Enzymes, By Country, 2020 & 2028
FIG NO. 17. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 18. Global Dietary Supplements Market for Additional Supplement, Revenue (USD Billion) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of Dietary Supplements Market for Additional Supplement, By Country, 2020 & 2028
FIG NO. 20. Global Dietary Supplements Market for Medicinal Supplement, Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Dietary Supplements Market for Medicinal Supplement, By Country, 2020 & 2028
FIG NO. 22. Global Dietary Supplements Market for Sports Nutrition, Revenue (USD Billion) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Dietary Supplements Market for Sports Nutrition, By Country, 2020 & 2028
FIG NO. 24. Global Dietary Supplements Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 25. Comparative Revenue Analysis of Dietary Supplements Market for Others, By Country, 2020 & 2028
FIG NO. 26. Global Dietary Supplements Market Revenue Share, By Region, 2020 & 2028
FIG NO. 27. North America Dietary Supplements Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 28. Porter’s Five Forces Analysis for Global Dietary Supplements Market
FIG NO. 29. PEST Analysis for Global Dietary Supplements Market
FIG NO. 30. Pricing Analysis for Global Dietary Supplements Market
FIG NO. 31. Value Chain Analysis for Global Dietary Supplements Market
FIG NO. 32. Company Share Analysis, 2019
FIG NO. 33. Radar Determinant Chart, 2019
FIG NO. 34. Company Strategic Developments – Heat Map Analysis
FIG NO. 35. Boeing Company Business Segment Revenue Share, 2020 (%)
FIG NO. 36. Boeing Company Geographical Segment Revenue Share, 2020 (%)
FIG NO. 37. Market Channels
FIG NO. 38. Marketing Channel Development Trend
FIG NO. 39. Growth in World Gross Product, 2008-2018
FIG NO. 40. Research Methodology – Detailed View
FIG NO. 41. Research Methodology
List of Tables
TABLE NO. 1. Global Dietary Supplements Market: Snapshot
TABLE NO. 2. Quarterly Dietary Supplements Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Dietary Supplements Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global Dietary Supplements Market for Botanicals, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Dietary Supplements Market for Vitamins, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Dietary Supplements Market for Minerals, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Dietary Supplements Market for Amino Acids, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Dietary Supplements Market for Enzymes, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11: Global Dietary Supplements Market for Additional Supplement, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12: Global Dietary Supplements Market for Medicinal Supplement, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. Global Dietary Supplements Market for Sports Nutrition, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Dietary Supplements Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global Dietary Supplements Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. North America Dietary Supplements Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 17. North America Dietary Supplements Market Revenue, By Ingredient, 2016 – 2028 (USD Billion)
TABLE NO. 18. North America Dietary Supplements Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 19. U.S. Dietary Supplements Market Revenue, By Ingredient, 2016 – 2028 (USD Billion)
TABLE NO. 20. U.S. Dietary Supplements Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 21. Canada Dietary Supplements Market Revenue, By Ingredient, 2016 – 2028 (USD Billion)
TABLE NO. 22. Canada Dietary Supplements Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 23. Mexico Dietary Supplements Market Revenue, By Ingredient, 2016 – 2028 (USD Billion)
TABLE NO. 24. Mexico Dietary Supplements Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 25. Drivers for the Dietary Supplements Market: Impact Analysis
TABLE NO. 26. Restraints for the Dietary Supplements Market: Impact Analysis
TABLE NO. 27. Major Buyers of Dietary Supplements
TABLE NO. 28. Distributors/Traders List of Dietary Supplements
TABLE NO. 29. Global Dietary Supplements Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 30: Global Dietary Supplements Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)
This report is based on in-depth qualitative and quantitative analyses of the global Dietary Supplements market. Zion Research has collected and analyzed key data belong to the global Dietary Supplements market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Dietary Supplements across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Dietary Supplements industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Dietary Supplements market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Dietary supplements include vitamins, minerals, herbals, amino acid and various other products. Dietary supplements come in a number of forms such as capsule, powder, tablets, energy bars, and drinks. Popular dietary supplements include vitamins D and E; minerals like calcium and iron; herbs such as Echinacea and garlic; and specialty products like glucosamine, probiotics, and fish oils.Some dietary supplements are beneficial for overall health. For instance, calcium and vitamin D are important for keeping bones strong and reducing bone loss and folic acid decreases the risk of some birth defects.
The worldwide market for dietary supplements is expected to grow at a significant rate owing to rising awareness towards calorie reduction and weight loss. Furthermore, increasing the importance of proteins among consumers in emerging markets including India and China on account of implementation of new marketing campaigns for brand promotions by companies Pfizer and Amway is expected to boost the market within the forecast period.Additionally, increasing the dominance of fitness and sports along with new product launches is likely to have a significant impact on the industry in near future.
Global dietary supplements market has been segmented on the basis of the ingredient, application, and region. On the basis of the ingredient, dietary supplements market is classified into botanicals, vitamins, minerals, amino acids, enzymes. In 2016, vitamin was the largest ingredient segment in the dietary supplement market owing to their ability to be readily excreted by kidneys. Botanical extracts are expected to grow at fast in coming years due to rising prominence of herbs for the prevention of physical as well as mental disorders in the human body.
On the basis of the application, the market is classified into an additional supplement, medicinal supplement, sports nutrition applications. Additional supplements held the largest market share in 2016 owing to rising awareness towards weight loss and maintenance of a healthy lifestyle among adults and old-aged people in emerging countries. Sports nutrition application segment also registers a considerable growth in the forecast period. Growing demand for energy drinks prepared with egg and whey protein among sports professionals is expected to augment dietary supplements consumption over the next few years.
Asia-Pacific was the largest market accounting for a significant share of the total market in 2016. Increasing disposable income, rising consumer expenditure towards nutritional fortification and growth of retail channels are expected to be the major driving factors for dietary supplements market in developing countries including India, Thailand, and China. Furthermore, the introduction of e-commerce portals in the region is expected to have a positive impact in the years to come.
Major dietary supplements manufacturers 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 among others.
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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,
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