Dietary Supplements Market to Seek Increased Expansion Due to Continuous Research and Development

July, 2023 - Market Research Future has Published a Research Report on the Global Dietary Supplements Market

Market Highlights

Dietary supplements market is projected to touch USD 325.4 billion by 2030, growing at a CAGR of 8.12% from 2023 to 2030. The Dietary Supplement Market has grown considerably in response to the fast-paced lifestyle that is prevalent presently. Reports that gauge the food, beverages & nutrition industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects.

The shortage in the nutritional benefits of daily diets has motivated the demand for dietary supplements. Moreover, increasing health concerns have prompted individuals to use dietary supplements to avoid certain health issues. The demand for improving health and promoting healthy aging is expected to encourage the dietary supplements market in the approaching period.

Segmental Analysis

The segmental evaluation of the dietary supplements market is carried out on the basis of type, region, form, and distribution channel. Based on the type, the market for dietary supplements is segmented into minerals, vitamins, amino acids, and others. On the basis of form, the dietary supplements market is segmented into capsules, tablet, powder, liquid, and others. Based on the distribution channel, the dietary supplements market is segmented into store-based and non-store based. On the basis of region, the dietary supplements market is segmented into North America, Europe, Asia Pacific and Rest of the World.

Detailed Regional Analysis

The regional assessment of the dietary supplements market covers regions such as North America, Europe, Asia Pacific, and Rest of the World. As per the analysis, the North American region is governing the dietary supplements market followed by the European region. In the North American region, the U.S. market is chiefly driving the growth of dietary supplements due to growing consumption of functional foods between the health-conscious population. Moreover, the Asia Pacific region is anticipated to be the fastest rising region for dietary supplements. The rise in consumer awareness concerning the benefits related to dietary supplements is primarily motivating the development of the dietary supplements market in this region. The growing health problems among consumers is further swaying the growing demand for dietary supplements all around the world.

Competitive Analysis

The escalated turnaround in the market is likely to set off new openings for the development of the market. The enhancement in different domestic economies is projected to encourage the progress of the market in the impending period. The ease in accessing key planned opportunities important to consequent stabilization of inflation is projected to generate a promising option for development in the approaching years. In the approaching years, the control exerted by fairly high-income level nations around the world and the likely gains observed towards a few of the currencies around the world is projected to strengthen the fruition of the market in the forecast period. A significant climb in the number of backers in the market is expected to craft an advantageous state of affairs for the evolution of the market in the projected period. The advancement of the market is projected to capture amplified impetus in the coming years chiefly due to the incidence of contributory government plans.

The eminent competitors profiled in the dietary supplements market are Amway (Nutrilite) (U.S.), Archer Daniels Midland (U.S.), Bayer (Germany), BASF SE (Germany), Abbott Laboratories (U.S.), E. I. Du Pont de Nemours and Company (U.S.), and Nutraceutics Inc. (U.S.) among many others.

Industry Updates

• May 2019 Bright Lifecare Pvt Ltd, which holds HealthKart, India’s major omnichannel nutrition platform, has obtained $25 million from Sofina in a fresh round of financing. The company, which claims to be India's first pure play online/offline nutrition platform, will spend the funds to increase its offline store network, grow additional direct-to-consumer nutrition brands and reinforce its vertical integration.

• Apr 2019 RB a global producer of popular consumer health, hygiene and home products recently announced the launch of Neuriva, a science-backed dietary supplement. Neuriva consists of two GMO-free and natural ingredients: Neurofactor and Plant-sourced Sharp Phosphatidylserine (PS), that is clinically proven to energize five indicators of brain performance, counting accuracy, concentration, focus, learning, and memory.