Dietary Supplements Market to Reach USD 303.6 Billion by
Fort Collins, Colorado, Sept. 18, 2023 (GLOBE NEWSWIRE) — DataHorizzon Research Published a report titled, “Dietary Supplements Market Size, Growth, Share, Statistics Report, By Ingredients (Vitamins, Botanicals, Minerals, Proteins & Amino Acids, Fibers & Specialty Carbohydrates, Omega Fatty Acids, Others), By Form, By Application, By Region, and Segment Forecasts 2023-2032.”
According to DataHorizzon Research, The dietary supplements market size was valued at USD 156.3 Billion in 2022 and is expected to have USD 303.6 Billion by 2032 with a CAGR of 6.9%. Changing consumer lifestyles, increasing awareness about health and wellness, rising disposable incomes, and advancements in the healthcare industry are primary factors propelling the dietary supplements market growth.
Dietary supplements are products intended to supplement the diet and provide nutrients that may be lacking or insufficient in a person’s normal diet. Medicines come in various forms, such as capsules, tablets, liquids, or powders, and usually contain vitamins, minerals, herbs, amino acids, or other nutrients.
The prevalence of chronic diseases such as obesity, diabetes, cardiovascular disease, and vitamin deficiency is increasing. This condition is often associated with poor eating habits, a sedentary lifestyle, and stress. Dietary supplements are seen as an easy and affordable way to correct nutritional deficiencies and support overall health management, thus increasing their demand.
Advances in research, manufacturing technologies, and formulation techniques have enabled the development of a wide range of innovative dietary supplements, offering growth opportunities for the market. Furthermore, the growth of e-commerce platforms and online retailing has made dietary supplements more accessible and convenient for consumers. Regulatory support and quality assurance have played a major part in convincing people for high adoption of dietary supplements. Governments and regulatory bodies have established guidelines and quality standards for dietary supplements.
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|Report Title||Dietary Supplements Market|
|Market Size in 2022||USD 156.3 Billion|
|Market Size by 2032||USD 303.6 Billion|
|CAGR from 2023 to 2032||6.9%|
|Largest Market||North America|
|Forecast Period||2023 to 2032|
|Report Scope & Coverage||Market Size, Market Estimations, Competitor Analysis, Trends and Growth Factors|
|By Ingredients||Vitamins, Botanicals, Minerals, Proteins and amino Acids, Fibers and specialty Carbohydrates, Omega Fatty Acids, Others|
|By Form||Tablets, Capsules, Soft Gels, Powders, Gummies, Liquids, Others|
|By Application||Energy and weight Management, General Health, Bone and Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Skin/Hair/Nails, and Others.|
|Region||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.|
|Countries Covered||U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, South Africa, among others|
|Major Market Players||Amway, Abbott, Bayer AG, Glanbia plc, Pfizer Inc., Archer Daniels Midland, GlaxoSmithKline plc. NU SKIN, Herbalife Nutrition, Nature’s Sunshine Products Inc., Bionova, Arkopharma, and Nestle among others.|
The dietary supplements market is segmented based on ingredients, form, application, and region. According to ingredient segment vitamins are dominating the market’s growth. Based on form, the capsules and tablets segment is leading the growth. Based on application, weight management is expected to hold a major share of the market.
North America dominates the dietary supplements market, with the United States being the major contributor in the region. The growth is attributed to driven by factors such as a high level of health consciousness, a large aging population, a focus on preventive healthcare, and a well-developed healthcare infrastructure. Asia Pacific is a rapidly growing market for dietary supplements. Countries such as China, Japan, India, and Australia contribute to the market expansion.
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Key Developments in the Industry:
- In March 2023, the U.S. Food and Drug Administration (FDA) launched a webpage revealing its new Dietary Supplement Ingredient Directory for public to know about ingredients used in products under the dietary supplement category.
- In February 2023, Thorne HealthTech Inc. announced the acquisition of PreCon Health Inc. Thorne and PreCon have partnered to create two brain health formulas to help prevent brain injury and help people who suffer from it.
- In June 2022, Nestlé Health Sciences continues to expand its portfolio of nutritional supplements with a 2022 deal for New Zealand’s Better Health Company and the GO Healthy brand. The company said the deal will strengthen its presence in the wider APAC region, not only in New Zealand but in markets such as Australia and China.
Dietary Supplements Market Report Highlights:
- The dietary supplements market is projected to attain a CAGR of 6.9% by 2032.
- Vitamins are at the forefront of the ingredient segment’s growth and are expected to continue their dominance.
- The powder segment is anticipated to have significant growth during the forecast period based on the form.
- Weight management is dominating the segment growth with a major share. Furthermore, supplements targeting bone and joint health are projected to grow substantially.
- North America leads the dietary supplements market. The market in North America is characterized by a wide range of products, extensive marketing efforts, and strong regulatory oversight.
- The prominent players in the dietary supplements market research report and analysis are Amway, Abbott, Bayer AG, Glanbia plc, Pfizer Inc., Archer Daniels Midland, and GlaxoSmithKline plc. NU SKIN, Herbalife Nutrition, Nature’s Sunshine Products Inc., Bionova, Arkopharma, and Nestle among others.
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Dietary Supplements Market Report Segmentation:
Dietary Supplements Market, By Ingredients (2023-2032)
- Proteins & Amino Acids
- Fibers & Specialty Carbohydrates
- Omega Fatty Acids
Dietary Supplements Market, By Form (2023-2032)
- Soft Gels
Dietary Supplements Market, By Application (2023-2032)
- Energy & Weight Management
- General Health
- Bone & Joint Health
- Gastrointestinal Health
- Cardiac Health
Dietary Supplements Market, By Region (2023-2032)
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Latin America
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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