ID: MRFR/F-B & N/0628-CR | February 2021 | Region: Global | 110 pages
Dietary Supplements Market is expected to register a CAGR of 6.85% and reach USD 158,468.7 Million by 2025. The global Market was valued at $136.2 billion in 2020. Dietary supplements are products with essential vitamins, minerals, nutrients, amino acids, botanical extracts, and enzymes to support good health. The demand for dietary supplements is increasing with the increasing health concerns of people. An increasing number of global sporting events focusing on improving physical strength and a rising number of gyms, health clubs, fitness centers are expected to increase the dietary supplement demand in the forecast period.
People these days are more concerned about a balanced diet, and they are increasing the intake of healthy foods with potential health benefits. Consumers are more aware of what they are eating with the rise in the diseases like diabetes and obesity. Due to this, the dietary supplements market has shown rapid growth in the past few years. The number of health-conscious people across the globe is increasing at a rapid speed, and they are also focusing on getting all the essential healthy nutrients to keep their bodies in good shape. In this case, the dietary supplement is the best solution for them.
The dietary supplements market growth is influenced by the shifting consumer preferences, growing population, and adoption of a healthy lifestyle. The doctors are also recommending these supplements; as a result, people are now aware of these products, which is adding to the growth factor of the global market. Advertising and marketing strategies for these supplements also play a major role in the growth of the global market. Due to all these factors, the global market is all set to witness significant growth in the dietary supplements industry forecast period.
The covid-19 pandemic had a mixed impact on the dietary supplements market. But overall, the pandemic will have a positive impact on the dietary supplements industry in the long term. The positive impact can be seen owing to the high demand for dietary supplements in the developed regions because they offer strong immunity functions and reduce the threat of coronavirus. Due to the rising covid-19 cases, the consumers are inclined towards immunity-boosting and healthy products.
The covid-19 also had a negative impact on the market due to the decline in production. Due to the imposition of lockdown, the production works were on a halt; as a result, the supply declined. The travel restrictions around the world made it difficult to transport raw materials; as a result, it had a negative impact on the global market. The dietary supplements market trends are predicted to grow when everything comes back to normal.
Drivers in the dietary supplements market
One of the major drivers in the global market is the rising focus on healthy food consumption. Due to the prevalence of lifestyle-related health issues and the increasing geriatric population, people are more aware of health products such as food supplements. According to the report of the Centers for Disease Control and Prevention (CDC), approximately 1 to 2 million patients are diagnosed with coronary heart failure. So now people are more aware of their health, and they are taking good care by consuming healthy products. Additionally, there is constant development and innovation in the production of dietary supplements.
Furthermore, the initiatives taken by the regulatory bodies such as the Food and Drug Administration of United States to ensure the quality of the dietary supplement is promoting the use of these supplements. The use of organic, safe, and clean-labeled ingredients in the supplements is expected to boost the dietary supplements market revenue. Another growth factor in the dietary supplements industry is the increasing number of people participating in bodybuilding and sports. These Athletes are consuming dietary supplements to boost their performance, and it is a driving factor in the market as well.
Opportunities in the dietary supplements market
The market for plant-based ingredients is growing at a rapid pace, and people are focusing on plant-based supplements instead of animal-based. This is likely to shift consumer preference to plant-based herbal supplements, which generates opportunities for the dietary supplements market. The demand for clean-labeled products, the need to avoid allergens, and sustainability concerns will shift consumer choice as well. The key players are always finding ways to meet the demand of the consumer, and it will bring more opportunities to the global market in the future.
Restraints in the market
Advancement in technology and science is helping people by providing supplements that will help them with weight management. But these supplements are costly, and not all people can afford them, especially in underdeveloped regions. And it can be a major restraint in the global market.
Challenges in the market
Manufacturing dietary supplements involve high-cost research and customization as well. That is why they are expensive, and these supplements being less economical, can hamper is market as well. People in rural areas are not aware of these products, and even if they are aware, they are not ready to spend a lot of money on this, and it is has become a challenge for the global market.
Cumulative Growth Analysis
Dietary supplements have gained huge popularity in the past due to their health benefits. Due to this, the dietary supplements market is expected to register a health CAGR of 6.85% in the forecast period. Innovations and development in the market will further propel its demand in the coming years.
The dietary supplements market is segmented by form and type.
Based on form, the dietary supplements market is divided into tablets, capsules, liquids, and powders. Among these tablets, the segment holds the highest global market share due to affordability, better packaging, and higher shelf-life. The tablets are well-defined, so they are preferred over other forms. In addition, the rising demand for protein supplements is likely to boost the powder segment in the global market forecast period.
On the basis of type, the dietary supplements market is segmented into vitamins, proteins, minerals, enzymes, fatty acids, and others. The Vitamin segment is widely consumed across the globe, and it dominates the market by holding the highest dietary supplements industry share. In many countries, deficiency of vitamins is becoming common, and people are taking a vitamin supplement to fulfill the need for vitamins.
In pregnant women, and adults lack of minerals can cause serious health problems, which is boosting demand for the mineral segment. The protein supplement is also expected to witness high demand in the coming years with rising bodybuilding and weight management activities.
The major regions in the dietary supplements market are North America, Asia-Pacific, Europe, and the rest of the world. North America is projected to hold the highest global market share in the forecast period due to the high prevalence of heart diseases, diabetes, obesity, and others. The increasing population and hectic lifestyle is also a major factor behind market growth in this region.
The market in the Asia-Pacific region is expected to register the highest CAGR growth rate of 10.3% in the forecast period due to rising health diseases. Due to this, people are adopting a healthy lifestyle by taking supplements. The demand for supplements is increasing due to this in big countries like China and India. The European region is also seeing moderate growth in the dietary supplements market due to healthy lifestyle changes in people.
The major players in the dietary supplements market, who are responsible for the rising demand of the market, are
In March 2021, Zomato, an India-based food delivery app, announced to launch of its own nutrition and food supplements.
In September 2020, Progeny launched a 24-in-1 Mega Superfoods dietary supplement. These supplements are packed with 24 different essential greens, veggies, fruits, and herbs into a single capsule.
This dietary supplements market report involves both qualitative and quantitative global market analysis. This report also gives a global market outlook on the impact of Covid-19. Furthermore, this report gives a brief explanation of the market drivers, restraints, challenges, and opportunities. At last, it also includes market segmentation, competitive landscape, and recent developments as well.
|Market Size||USD 158,468.7 Million (2025)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Form, Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Bayer AG (Germany), The Nature's Bounty Co. (US), Glanbia plc (Ireland), Herbalife Nutrition Ltd. (US), GlaxoSmithKline plc (UK), Abbott Laboratories (US), Amway Corp (US), Otsuka Holdings Co., Ltd (Japan), Nature's Way Products, LLC (US), and Living Essentials Marketing, LLC (US).|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||The Increasing Focus on Preventive Healthcare.|
Frequently Asked Questions (FAQ) :
Misleading advertising and safety concerns regarding unauthorized dietary supplements are the major restraints on the global Dietary Supplements Market.
The market is expected to exhibit a strong 7.95% CAGR over the forecast period from 2017 to 2023.
Growing awareness about the utility of dietary supplements in warding off diseases is the major driver for the market.
The U.S. is likely to hold the leading share in the global Dietary Supplements Market.
Leading players in the market include Danone Nutricia, Carlyle Group, and Amway, among others.