Dietary Supplements Market
PUBLISHED: 2024 ID: SMRC24939
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Dietary Supplements Market

Dietary Supplements Market Forecasts to 2030 - Global Analysis By Product Type (Prebiotics & Probiotics, Proteins and Amino Acids, Herbal Supplements and Other Product Types), Form, Distribution Channel, Application and By Geography

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4.4 (15 reviews)
Published: 2024 ID: SMRC24939

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $182.04 BN

Projected Year Value (2030)

US $377.94 BN

CAGR (2023 - 2030)

11%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Dietary Supplements Market is accounted for $182.04 billion in 2023 and is expected to reach $377.94 billion by 2030 growing at a CAGR of 11.0% during the forecast period. The dietary supplements market refers to the industry that produces and markets products containing vitamins, minerals, herbs, amino acids, or other substances intended to supplement the diet and contribute to overall health and well-being. These supplements come in various forms, such as pills, capsules, powders, and liquids, and are designed to address nutritional deficiencies, support specific health goals, or enhance overall wellness. Additionally, dietary supplements play a role in specialized areas such as promoting bone health, supporting immune function, and addressing concerns related to aging or specific demographic groups like children or seniors.

According to the National Institute of Health, the sales of dietary supplements increased at a rate of 38% in 2019. Growing numbers of healthy people are taking dietary supplements as they can be used to correct micronutrient deficiency or maintain an adequate intake.

Market Dynamics: 

Driver: 

Growing health awareness

As individuals become more informed about the role of nutrition in maintaining overall health, there is a heightened emphasis on preventive healthcare practices. Consumers are proactively seeking ways to enhance their well-being and address potential nutritional deficiencies through the use of dietary supplements. The desire for a holistic approach to health, encompassing nutrition and lifestyle, has fueled the demand for supplements containing essential vitamins, minerals, and other beneficial compounds. Moreover, this awareness extends to various demographic groups, from young adults seeking sports nutrition supplements to seniors aiming to support specific health concerns associated with aging.

Restraint:

Lack of standardization 

Variability in dosages, formulations, and quality standards across different supplements can create confusion for consumers and healthcare professionals alike. Without uniform guidelines, there is a risk of inconsistent product quality and efficacy, making it challenging to establish a standardized approach to supplement consumption. The absence of clear dosing recommendations can lead to improper use, potentially causing adverse effects or diminishing the perceived effectiveness of supplements. However, the lack of standardization hampers the ability to conduct comprehensive research and clinical trials, hindering the accumulation of robust scientific evidence supporting the efficacy and safety of various supplements.

Opportunity:

Innovations in product formulations

Continuous research and development efforts within the industry lead to novel and advanced formulations, fostering the creation of supplements with improved efficacy, bioavailability, and consumer appeal. These innovations often involve the incorporation of new ingredients, enhanced delivery methods, and the development of targeted solutions to address specific health concerns. For instance, advancements in encapsulation technologies and the utilization of novel bioactive compounds contribute to the creation of supplements with optimized nutrient absorption.

Threat:

Ethical and environmental concerns

Issues such as overharvesting of botanical ingredients, questionable labor practices, and environmental degradation associated with certain sourcing methods raise ethical considerations. Consumers are becoming more conscious of the environmental impact of supplement production, including packaging waste and carbon footprints. The demand for responsibly sourced and eco-friendly supplements challenges the industry to adopt sustainable practices throughout the supply chain.

Covid-19 Impact: 

Disruptions in the supply chain, manufacturing, and distribution channels have posed challenges for the industry. Lockdowns, economic uncertainties, and shifts in consumer spending patterns have influenced the purchasing behavior of individuals, impacting overall market dynamics. Additionally, the pandemic has highlighted the importance of a resilient and transparent supply chain in ensuring the availability and safety of dietary supplements. The long-term impact will likely involve an increased emphasis on health and wellness, coupled with a need for adaptability and innovation within the dietary supplements market.

The children's supplements segment is expected to be the largest during the forecast period

Children's supplements segment is expected to be the largest during the forecast period due to growing awareness among parents about the importance of nutrition for their children's overall well-being. As concerns about children's health and development rise, parents are increasingly turning to dietary supplements to ensure their kids receive essential vitamins and minerals. The market has responded with a surge in innovative and appealing formulations, such as gummies and chewable tablets, making it easier for children to consume these supplements. Additionally, pediatricians and healthcare professionals are actively endorsing the use of dietary supplements to address nutritional gaps in children's diets.

The cardiac health segment is expected to have the highest CAGR during the forecast period

Cardiac health segment is expected to have the highest CAGR during the forecast period. With rising awareness about the role of nutrition in maintaining a healthy heart, individuals are turning to dietary supplements containing ingredients like omega-3 fatty acids, Coenzyme Q10, and plant sterols known for their cardiovascular benefits. Moreover, a sedentary lifestyle and poor dietary habits have spurred the demand for supplements that can complement heart-healthy lifestyles. Moreover, manufacturers are responding by introducing specialized formulations targeted at promoting cardiovascular well-being, endorsed by healthcare professionals.

Region with largest share:

Asia Pacific region commanded the largest share of the market throughout the extrapolated period. Rapid urbanization, changing lifestyles, and an increasing focus on preventive healthcare have led to a heightened awareness of the importance of nutritional supplementation. Growing disposable incomes have enabled a rising middle class to invest in health and wellness products, including dietary supplements. Moreover, traditional practices such as Ayurveda and Traditional Chinese Medicine have contributed to the acceptance of herbal and natural supplements in the region.

Region with highest CAGR:

Asia Pacific region is estimated to witness lucrative growth over the projected period. Increased regulatory clarity and stringent quality standards enforced by governments across the region have bolstered consumer confidence in the safety and efficacy of dietary supplements. Regulatory bodies are actively working to establish clear guidelines for product labeling, manufacturing practices, and ingredient safety, addressing concerns related to product quality and authenticity. Furthermore, as governments prioritize public health and wellness, they are also supporting research and development initiatives in the dietary supplements industry.

Key players in the market

Some of the key players in Dietary Supplements market include Bayer AG, Amway Corporation, Herbalife Nutrition, Pfizer Inc, Abbott Laboratories, Haleon Plc, Suntory Holdings Ltd, Otsuka Holdings Co. Ltd, Glanbia PLC, The Bountiful Company, Bionova Lifesciences, Carlyle Group and Arkopharma Laboratoires Pharmaceutiques.

Key Developments:

In 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.

In 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.

In 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.

Product Types Covered:
• Prebiotics & Probiotics
• Proteins and Amino Acids
• Herbal Supplements
• Vitamins & Minerals
• Beauty and Anti-Aging Supplements
• Children's Supplements
• Omega-3 Fatty Acids
• Senior Health Supplements
• Specialty Supplements
• Sports Nutrition
• Weight Management
• Other Product Types 

Forms Covered:
• Liquids
• Softgels
• Gummies
• Powders
• Other Forms

Distribution Channels Covered:
• Online Retail Channels
• Supermarkets/Hypermarkets
• Pharmacies and Drug Stores
Applications Covered:
• Skin/Hair/Nails
• Diabetes
• Cardiac Health
• Gastrointestinal Health
• Energy & Weight Management
• Bone & Joint Health
• General Health
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary     
      
2 Preface     
 2.1 Abstract    
 2.2 Stake Holders    
 2.3 Research Scope    
 2.4 Research Methodology    
  2.4.1 Data Mining   
  2.4.2 Data Analysis   
  2.4.3 Data Validation   
  2.4.4 Research Approach   
 2.5 Research Sources    
  2.5.1 Primary Research Sources   
  2.5.2 Secondary Research Sources   
  2.5.3 Assumptions   
      
3 Market Trend Analysis     
 3.1 Introduction    
 3.2 Drivers    
 3.3 Restraints    
 3.4 Opportunities    
 3.5 Threats    
 3.6 Product Analysis   
 3.7 Application Analysis   
 3.8 Emerging Markets    
 3.9 Impact of Covid-19    
      
4 Porters Five Force Analysis     
 4.1 Bargaining power of suppliers    
 4.2 Bargaining power of buyers    
 4.3 Threat of substitutes    
 4.4 Threat of new entrants    
 4.5 Competitive rivalry    
      
5 Global Dietary Supplements Market, By Product Type     
 5.1 Introduction    
 5.2 Prebiotics & Probiotics    
 5.3 Proteins and Amino Acids    
 5.4 Herbal Supplements    
 5.5 Vitamins & Minerals    
 5.6 Beauty and Anti-Aging Supplements    
 5.7 Children's Supplements    
 5.8 Omega-3 Fatty Acids    
 5.9 Senior Health Supplements    
 5.10 Specialty Supplements    
 5.11 Sports Nutrition    
 5.12 Weight Management    
 5.13 Other Product Types    
      
6 Global Dietary Supplements Market, By Form     
 6.1 Introduction    
 6.2 Liquids    
 6.3 Softgels    
 6.4 Gummies    
 6.5 Powders    
 6.6 Other Forms    

7 Global Dietary Supplements Market, By Distribution Channel     
 7.1 Introduction    
 7.2 Online Retail Channels    
 7.3 Supermarkets/Hypermarkets    
 7.4 Pharmacies and Drug Stores    
      
8 Global Dietary Supplements Market, By Application     
 8.1 Introduction    
 8.2 Skin/Hair/Nails    
 8.3 Diabetes    
 8.4 Cardiac Health    
 8.5 Gastrointestinal Health    
 8.6 Energy & Weight Management    
 8.7 Bone & Joint Health    
 8.8 General Health    
 8.9 Other Applications    
          
9 Global Dietary Supplements Market, By Geography     
 9.1 Introduction    
 9.2 North America    
  9.2.1 US   
  9.2.2 Canada   
  9.2.3 Mexico   
 9.3 Europe    
  9.3.1 Germany   
  9.3.2 UK   
  9.3.3 Italy   
  9.3.4 France   
  9.3.5 Spain   
  9.3.6 Rest of Europe   
 9.4 Asia Pacific    
  9.4.1 Japan   
  9.4.2 China   
  9.4.3 India   
  9.4.4 Australia   
  9.4.5 New Zealand   
  9.4.6 South Korea   
  9.4.7 Rest of Asia Pacific   
 9.5 South America    
  9.5.1 Argentina   
  9.5.2 Brazil   
  9.5.3 Chile   
  9.5.4 Rest of South America   
 9.6 Middle East & Africa    
  9.6.1 Saudi Arabia   
  9.6.2 UAE   
  9.6.3 Qatar   
  9.6.4 South Africa   
  9.6.5 Rest of Middle East & Africa   
      
10 Key Developments     
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures    
 10.2 Acquisitions & Mergers    
 10.3 New Product Launch    
 10.4 Expansions    
 10.5 Other Key Strategies    
      
11 Company Profiling     
 11.1 Bayer AG    
 11.2 Amway Corporation    
 11.3 Herbalife Nutrition    
 11.4 Pfizer Inc    
 11.5 Abbott Laboratories    
 11.6 Haleon Plc    
 11.7 Suntory Holdings Ltd    
 11.8 Otsuka Holdings Co. Ltd    
 11.9 Glanbia PLC    
 11.10 The Bountiful Company    
 11.11 Bionova Lifesciences    
 11.12 Carlyle Group    
 11.13 Arkopharma Laboratoires Pharmaceutiques    
      
List of Tables      
1 Global Dietary Supplements Market Outlook, By Region (2021-2030) ($MN)     
2 Global Dietary Supplements Market Outlook, By Product Type (2021-2030) ($MN)     
3 Global Dietary Supplements Market Outlook, By Prebiotics & Probiotics (2021-2030) ($MN)     
4 Global Dietary Supplements Market Outlook, By Proteins and Amino Acids (2021-2030) ($MN)     
5 Global Dietary Supplements Market Outlook, By Herbal Supplements (2021-2030) ($MN)     
6 Global Dietary Supplements Market Outlook, By Vitamins & Minerals (2021-2030) ($MN)     
7 Global Dietary Supplements Market Outlook, By Beauty and Anti-Aging Supplements (2021-2030) ($MN)     
8 Global Dietary Supplements Market Outlook, By Children's Supplements (2021-2030) ($MN)     
9 Global Dietary Supplements Market Outlook, By Omega-3 Fatty Acids (2021-2030) ($MN)     
10 Global Dietary Supplements Market Outlook, By Senior Health Supplements (2021-2030) ($MN)     
11 Global Dietary Supplements Market Outlook, By Specialty Supplements (2021-2030) ($MN)     
12 Global Dietary Supplements Market Outlook, By Sports Nutrition (2021-2030) ($MN)     
13 Global Dietary Supplements Market Outlook, By Weight Management (2021-2030) ($MN)     
14 Global Dietary Supplements Market Outlook, By Other Product Types (2021-2030) ($MN)     
15 Global Dietary Supplements Market Outlook, By Form (2021-2030) ($MN)     
16 Global Dietary Supplements Market Outlook, By Liquids (2021-2030) ($MN)     
17 Global Dietary Supplements Market Outlook, By Softgels (2021-2030) ($MN)     
18 Global Dietary Supplements Market Outlook, By Gummies (2021-2030) ($MN)     
19 Global Dietary Supplements Market Outlook, By Powders (2021-2030) ($MN)     
20 Global Dietary Supplements Market Outlook, By Other Forms (2021-2030) ($MN)     
21 Global Dietary Supplements Market Outlook, By Distribution Channel (2021-2030) ($MN)     
22 Global Dietary Supplements Market Outlook, By Online Retail Channels (2021-2030) ($MN)     
23 Global Dietary Supplements Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)     
24 Global Dietary Supplements Market Outlook, By Pharmacies and Drug Stores (2021-2030) ($MN) 
25 Global Dietary Supplements Market Outlook, By Health Application (2021-2030) ($MN)     
26 Global Dietary Supplements Market Outlook, By Skin/Hair/Nails (2021-2030) ($MN)     
27 Global Dietary Supplements Market Outlook, By Diabetes (2021-2030) ($MN)     
28 Global Dietary Supplements Market Outlook, By Cardiac Health (2021-2030) ($MN)     
29 Global Dietary Supplements Market Outlook, By Gastrointestinal Health (2021-2030) ($MN)     
30 Global Dietary Supplements Market Outlook, By Energy & Weight Management (2021-2030) ($MN)     
31 Global Dietary Supplements Market Outlook, By Bone & Joint Health (2021-2030) ($MN)     
32 Global Dietary Supplements Market Outlook, By General Health (2021-2030) ($MN)     
33 Global Dietary Supplements Market Outlook, By Other Health Applications (2021-2030) ($MN)         
      
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.  

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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