The Global Dietary Supplements Market Size was Worth USD 164.35 Billion in 2022 and is Estimated to Grow to USD 320.34 Billion by 2030, with a CAGR of Around 8.7 % Over the Forecast Period From 2023 To 2030.
Dietary Supplements Market Overview
Orally ingestible items with at least one dietary element are referred to as dietary supplements. Dietary supplements can be considered goods that promote health and add to a diet. It cannot be referred to as a medication or a food alternative. Dietary supplements might be herbal, vitamin, mineral, amino acid, metabolite, or amino acid-based. These supplements do not treat any illnesses, but they do promote a healthy immune system and body. Nutritional supplements minimize the chance of developing chronic diseases and supply nutrients. Sports-based and athletic performance-enhancing supplements are becoming increasingly popular, driving the global market. The market for dietary supplements is anticipated to be driven by consumers’ growing desire to meet their bodies’ daily micronutrient needs and rising consumer spending on health & wellness products. Several governments’ measures to assist the development of herbal supplements are also anticipated to have a favorable effect on the market expansion.
Growing consumer interest in the idea of personalized or custom-made nutritional products and dietary supplements has sparked enthusiasm among consumers worldwide. It is favorably affecting the growth of the dietary additives market. In the future, market growth is anticipated to be further fueled by technological developments and increased expenditure in the research and development of nutraceuticals and supplement products. For instance, Nestle S.A. invested USD 31.46 million in opening its first R&D center in Ireland in January 2019. To promote innovations in creating newborn nutrition products and milk-based materials for the worldwide market, the new R&D center will concentrate on scientific research. Additionally, consumers are becoming more aware of preventive healthcare practices due to the rising frequency of age- and lifestyle-related disorders. As a result, they are gravitating toward items that promote good health, such as food additives, which is likely to boost the global market.
The market expansion for dietary supplements is anticipated to be constrained by the rising cost of standard supplements and the high cost of premium-sized supplements. The restricted supply of organic supplements and the growing consumer preference for organic goods could further restrain market expansion. However, supplement producers are embracing technological development to reduce the cost of the product’s production and make it accessible to consumers at reasonable costs.
The global dietary supplements market is segregated based on type, function, target consumer, and mode of application.
- Based on type, the market is divided into botanicals, vitamins, minerals, amino acids, enzymes, probiotics, and other dietary supplements. Among these, the vitamins category led the market in 2021 and is expected to maintain its dominance throughout the forecast period due to the significant demand for vitamin supplements among athletes, sportspeople, and working professionals to manage their weight and increase energy. Supplemental multivitamins alleviate stress and anxiety in daily life, and vitamins like vitamin B ensure that the nervous system is functioning properly and that food is converted into energy. Maintaining healthy bones also benefits the immune system, cardiovascular health, and nutritional foundation.
- Based on the mode of application, the market is divided into tablets, capsules, powders, liquids, soft gels, and gel caps. The tablet category dominated the market in 2021. Tablet and capsule supplements are highly sought after on the international market for several important reasons, including their high affordability, easy packaging, and long shelf lives. They are favored over liquid and other forms because the dosage is established in capsule, soft gel, and tablet form. Furthermore, because the majority of protein supplements on the market are accessible in powder form, it is expected that the soaring demand for protein supplements will open up a huge window of opportunity for growth for powder supplements.
- In 2022, North America dominated the market for dietary supplements due to the increased incidence of lifestyle disorders, including diabetes, obesity, and others. A few factors driving the market in the area include the rising elderly population, hectic lifestyle, and favorable attitude toward preventative healthcare measures. Because of the increased emphasis on wellness and the large population of fitness enthusiasts willing to spend money on products that will improve their health, the adoption of food supplements is quite high in the United States. Additionally, regulatory attention to commercializing these goods has increased recently to guarantee that only safe and high-quality supplements are offered in the U.S. marketplace.
The abrupt coronavirus pandemic epidemic has had a favorable effect on the market expansion. Given the pandemic’s impact on the world economy and the supply chain for dietary supplement goods, the long-term effects are still difficult to predict. However, as they boost immunity and lessen the likelihood of health threats, human dietary supplements are in high demand in both developed and developing countries, which is anticipated to impact product growth throughout the projected period positively.
- Some of the main competitors dominating the global dietary supplements market include-
- Amway Corp
- Bayer AG
- Glanbia PLC
- Pfizer Inc
- The Nature’s Bounty Co
- NU SKIN
- NOW Foods
- Herbalife Nutrition of America, INC
- Nature’s Sunshine Products INC
- XanGo, LLC
- Nutraceutics Corp
- American Health
- BPI Sports, LLC
- Dymatize Enterprices LLC
- GlaxoSmithKline Inc
- Himalaya Global Holdings Ltd.
- April 2020: DSM, one of the top manufacturers and suppliers of dietary supplements, has announced the full acquisition of Glycom, a significant pioneer in human milk oligosaccharides. DSM may be able to expand its presence in the global market for nutritional supplements thanks to this acquisition.
- January 2020: Beta Heart is a brand-new product from Herbalife Nutrition. The medicine is made primarily to keep blood cholesterol levels stable. Beta Heart, a vanilla-flavored product, comes in a 15 grams sachet.
The Global Dietary Supplements Market is segmented as follows:
Dietary Supplements Market by Type Outlook (Revenue, USD Million, 2017 – 2030)
- Amino Acids
- Other Dietary Supplements
Dietary Supplements Market by Function Outlook (Revenue, USD Million, 2017 – 2030)
- Additional Supplements
- Medicinal Supplements
- Sports Nutrition
Dietary Supplements Market by Target Consumer Outlook (Revenue, USD Million, 2017 – 2030)
- Pregnant Women
Dietary Supplements Market by Application Outlook (Revenue, USD Million, 2017 – 2030)
- Soft Gels
- Gel Caps
Dietary Supplements Market by Region Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- The UK
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
|Dietary Supplements Market Report Scope
|Market Size Value in 2022
||USD 164.35 billion
|Revenue Forecast in 2030
||USD 320.34 billion
||CAGR of 8.7 % from 2023 to 2030
|Base Year for Estimation
||2017 – 2022
||2023 – 2030
||Revenue in USD million and CAGR from 2023 to 2030
||Revenue forecast, company ranking, Trends
competitive landscape, and growth factors
||Product Type, Function, Target Consumer, Application, and Region
||North America; Europe; Asia Pacific; Latin America; Middle East & Africa
||U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others
|Key Companies Profiled
||Amway Corp, Abbott, Arkopharma, Bayer AG, Glanbia PLC, Pfizer Inc, ADM, The Nature’s Bounty Co, NU SKIN, NOW Foods, Herbalife Nutrition of America Inc, Nature’s Sunshine Products Inc, Ayanda, XanGo LLC, Nutraceutics Corp, and Others Companies