Global Dietary Supplements Market Share

Global Dietary Supplements in the Age of Personalized Nutrition Market Overview

Dietary Supplements in the Age of Personalized Nutrition Market Size was valued at USD 12.9 Billion in 2022. The dietary supplements in the age of personalized nutrition market industry is projected to grow from USD 13.76 Billion in 2023 to USD 23.123 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.26% during the forecast period (2023 - 2032). The market for dietary supplements in the age of personalized nutrition has seen significant expansion in recent years. The growing ageing population, greater health consciousness, and growing understanding of the advantages of preventative healthcare are some of the market drivers that are driving the need for these supplements. Demand for personalized dietary supplements has increased as a result of consumers looking for more personalized ways to satisfy their unique nutritional demands.

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Dietary Supplements in the Age of Personalized Nutrition Market Trends

• Growing prevalence of chronic illness is driving the market growth

The market for dietary supplements in the age of personalized nutrition is anticipated to develop as chronic illness prevalence rises. Chronic diseases are characterized as long-lasting ailments that, while often incurable, can be controlled with dietary changes and medical care. These disorders frequently progress gradually over time due to a confluence of genetic, environmental, and behavioral variables. Because it takes into account a person's particular genetic make-up, health history, and present health state, dietary supplements in the age of personalized nutrition is crucial to the treatment of chronic disease. This enables the development of a personalized nutrition strategy that targets certain health issues and deals with any nutrient deficits or imbalances. For instance, according to the Centers for Disease Control and Prevention, a US national public health organisation, 37.3 million Americans, or 11.3% of the country's population, will have diabetes by 2022. As a result, the market CAGR for dietary supplements in the age of personalized nutrition is being driven by the rising prevalence of disease.

The dietary supplements in the age of personalized nutrition market is growing in popularity, and one significant trend is product innovation. To remain competitive, major players in the market are concentrating on utilizing cutting-edge technology like artificial intelligence. For instance, an Al-based personalized nutrition service was introduced by the Indian nutraceutical start-up BhookhaHaathi in April 2020. The Al examines a particular consumer's profile, puts them in groups with other customers who have similar profiles, forecasts their health needs, and recommends the necessary nutrients. The system makes recommendations that are specifically suited to the user's past, present, and future health situation. Thus, driving the dietary supplements in the age of personalized nutrition market revenue.

Dietary Supplements in the Age of Personalized Nutrition Market Segment Insights

Dietary Supplements in the Age of Personalized Nutrition Product Category Insights

The  dietary supplements in the age of personalized nutrition market segmentation, based on product category includes Vitamins and Herbs & Botanicals. The vitamins segment dominated the market. Any dietary gaps that people may have in their diets can be easily filled by taking vitamin supplements. A research published in June 2022 in JAMA Network Open reports that 31% of survey participants take multi-mineral supplements. The human body needs three specific vitamins, according to Dr. Heather Moday's advice in her CNBC article from January 2022. In addition, market growth is anticipated to be aided by product development in the sector.

Dietary Supplements in the Age of Personalized Nutrition Application Insights

The  dietary supplements in the age of personalized nutrition market segmentation, based on application, includes Lifestyle Diseases and Inherited Disease. The lifestyle diseases category generated the most income. Non-communicable diseases (NCDs), usually referred to as lifestyle diseases, are medical problems whose main causes are poor lifestyle decisions and practices. These illnesses are frequently linked to long-term exposure to risk factors include a poor diet, a sedentary lifestyle, tobacco use, excessive alcohol use, and ongoing stress. This group of diseases includes stroke, hypertension (high blood pressure), and coronary artery disease. These diseases can arise as a result of unhealthy eating patterns, inactivity, smoking, and drinking too much alcohol.

Figure 1  Dietary Supplements in the Age of Personalized Nutrition Market, by Application, 2022 & 2032 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Dietary Supplements in the Age of Personalized Nutrition Gender Insights

The  dietary supplements in the age of personalized nutrition market segmentation, based on gender, includes Female and Male. The female category generated the most income. Due to conditions including menstruation, pregnancy, menopause, and general hormonal balance, women's dietary demands are different. As a result, there has been an increase in the production of women's health supplements that cater exclusively to these requirements. These dietary supplements frequently include nutrients like iron, vitamin D, calcium, folic acid, and omega-3 fatty acids that are crucial for bone health, reproductive health, and general well-being.

Dietary Supplements in the Age of Personalized Nutrition Dosage Form Insights

The  dietary supplements in the age of personalized nutrition market segmentation, based on dosage form, includes Capsules, Powder, Liquids, Soft Gels, and Others. The liquids category generated the most income because senior people and children are using it more frequently. The benefit of liquid supplements and vitamins is that it is simpler to customize them by adding different amounts of various nutrients to create a unique blend. The elderly population finds it simple to consume supplements in this form, and they also absorb more quickly into the body.

Dietary Supplements in the Age of Personalized Nutrition Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American dietary supplements in the age of personalized nutrition market area will dominate this market. The existence of significant manufacturers, the high consumption of dietary supplements, the growing awareness of weight control, among other factors, are largely responsible for this huge proportion. One of the key drivers of market expansion is the availability of a well-developed infrastructure for creating AI-based platforms for dietary supplements in the age of personalized nutrition.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2  DIETARY SUPPLEMENTS IN THE AGE OF PERSONALIZED NUTRITION MARKET SHARE BY REGION 2022 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe dietary supplements in the age of personalized nutrition market accounts for the second-largest market share. In the era of personalized nutrition, rapid R&D on clinical nutrition and new product innovation in dietary supplements are fueling revenue growth in this sector. Additionally, the region's revenue is growing as a result of an increase in the number of sports clubs, their personalized nutrition plans, and a greater emphasis on immunity and health. Additionally, the region's revenue growth is being fueled by changes in lifestyle, consumer preferences, the increase of the middle class, and the presence of well-known important companies. Further, the German dietary supplements in the age of personalized nutrition market held the largest market share, and the UK dietary supplements in the age of personalized nutrition market was the fastest growing market in the European region

The Asia-Pacific dietary supplements in the age of personalized nutrition Market is expected to grow at the fastest CAGR from 2023 to 2032. The region is anticipated to experience the quickest growth because it offers a lot of opportunities and has developing economies. The dietary supplements in the age of personalized nutrition market growth includes various factors like recent advancements in healthcare, strengthening economies, a large population that is ageing, and higher healthcare spending are having an impact on the growth of the dietary supplement market. Moreover, China’s dietary supplements in the age of personalized nutrition market held the largest market share, and the Indian dietary supplements in the age of personalized nutrition market was the fastest growing market in the Asia-Pacific region.

Dietary Supplements in the Age of Personalized Nutrition Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the dietary supplements in the age of personalized nutrition market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, dietary supplements in the age of personalized nutrition industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the  dietary supplements in the age of personalized nutrition industry to benefit clients and increase the market sector. In recent years, the dietary supplements in the age of personalized nutrition industry has offered some of the most significant advantages to market. Major players in the dietary supplements in the age of personalized nutrition market attempting to increase market demand by investing in research and development operations include Nestlé Health Science, Danone Nutricia, Carlyle Group, Amway (Nutrilite), Archer Daniels Midland and Abbott Laboratories.

Amway Corp., an affiliate of Alticor  Holdings Inc., is a direct seller that makes, sells, and distributes goods for body care, beauty, and nutrition. The company's product line includes cookware, energy drinks, surface cleaners, surface cleansers with disinfectants, dish detergents, weight management and sports nutrition products, vitamins, minerals, nutritional supplements, and weight management goods. Additionally, it provides makeup removers, hair, body, and oral care products, as well as cleansers, toners, moisturizers, eye and lip care items, serums, masques/exfoliators, and other intensive treatments.

Agriculture-related goods, commodities, and ingredients are produced, processed, transported, stored, and marketed by Archer Daniels Midland Co (ADM). The business manufactures oilseeds, corn, wheat, and other agricultural goods as well as ingredients for food and beverages. The range of products offered by ADM includes wheat, animal feed, vegetable oil, maize sweeteners, natural flavors and colors, health and nutrition goods and biofuels. Through its  grain elevator and transportation network, the firm stores, cleans, and delivers agricultural commodities including oilseeds, corn, wheat, milo, oats, and barley as well as various products made from these inputs.

Key Companies in the dietary supplements in the age of personalized nutrition market include

• Nestlé Health Science


• Danone Nutricia


• Carlyle Group


• Amway (Nutrilite)


• Archer Daniels Midland


• Abbott Laboratories

Dietary Supplements in the Age of Personalized Nutrition Industry Developments

July 2018:A portion of Mixfit Inc.'s shares was purchased by Royal DSM. With this transaction, DSM and Mixfit officially declared their collaboration on the creation of dietary supplements and nutritional goods.

June 2018:Using a combination of artificial intelligence, DNA testing, and smartphone applications, Nestle S.A. decided to target the ageing population of Japan when launching its first personalised nutrition service.

Dietary Supplements in the Age of Personalized Nutrition Market Segmentation

Dietary Supplements in the Age of Personalized Nutrition Product Category Outlook (USD Billion, 2018-2032)

• Vitamins


• HERBS & BOTANICALS

Dietary Supplements in the Age of Personalized Nutrition Application Outlook (USD Billion, 2018-2032)

• Lifestyle Diseases


• Inherited Disease

Dietary Supplements in the Age of Personalized Nutrition Product Gender Outlook (USD Billion, 2018-2032)

• Female


• Male

Dietary Supplements in the Age of Personalized Nutrition Dosage Form Outlook (USD Billion, 2018-2032)

• Capsules


• Powder


• Liquids


• Soft Gels


• Others

Dietary Supplements in the Age of Personalized Nutrition Regional Outlook (USD Billion, 2018-2032)

• 
  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America