NEWARK, Del, Nov. 14, 2023 (GLOBE NEWSWIRE) -- The dietary supplements market size is anticipated to surpass US$ 68.20 billion in 2023 and is likely to attain a valuation of US$ 163.66 billion by 2033. The dietary supplement demand is anticipated to thrive at a CAGR of 9.1% from 2023 to 2033.
The surge in consumer awareness regarding the importance of well-being and preventive measures is causing a notable impact on the dietary supplement market. These shifts are giving rise to a set of interconnected trends that are molding consumer preferences. These are also driving demand changes and redefining consumption patterns in the industry.
As people become more conscious of the significance of positive health management, the demand for dietary supplements is on the rise. Health-conscious individuals are recognizing dietary supplements as a means to bridge nutritional gaps and enhance well-being. This mindset change is creating a favorable environment for dietary supplement manufacturers and suppliers. This stems from increased consumer accessibility to these products.
Request a Sample copy of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-263
The availability of online medical portals and the wealth of information from health organizations' websites are playing a role in educating consumers. People are gaining knowledge about health concerns, preventive practices, and various supplement options. This easy access to information is empowering individuals to make informed decisions about their choices. This, in turn, is contributing to the growth of the dietary supplements market globally.
The increase in sedentary lifestyles and the adoption of less-than-optimal dietary habits are fueling the demand for dietary supplements. Consumers are turning to supplements that can help alleviate associated health risks and nutritional deficiencies.
The segmentation of consumer needs based on age and gender is leading to a diversification of supplement offerings. This personalized approach is resulting in a broader range of products on the market as supplements targeting different life stages and gender-specific needs gain prominence.
With over a fifth of the global consumer base falling into the aging population category, there is a considerable market driver at play. This demographic’s demand for supplements to mitigate the effects of aging is inspiring fresh product development. These consumers are seeking products that address different age-related concerns.
The rising costs of healthcare services are also prompting consumers to seek preventive measures. Individuals intend to reduce their long-term healthcare expenses by integrating dietary supplements into their daily routines. This financially mindful approach is contributing to the demand for vitamin supplements as a proactive investment in health.
“A comprehensive market research study emphasizes the pivotal role of dietary supplements in contemporary health and wellness. The findings underscore the growing consumer awareness and increasing demand for personalized nutritional solutions, positioning dietary supplements as a key driver in the evolving landscape of preventive healthcare", says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)
Key Takeaways from the Report:
- In 2022, the global dietary supplements market size stood at US$ 65.58 billion.
- The United States is leading the market with a 33.2% share of the global market in 2023.
- In 2023, China closely tracks the United States, holding a 14.7% global market share.
- Germany emerged as a prominent European country, capturing an 8.3% share of the global market in 2023.
- The market is spearheaded by the soft gel and capsule segment, commanding 54.90% of the global market in 2023.
- Vitamins & minerals ingredient is the leading segment, with a 20.70% share of the global dietary supplements market in 2023.
Key Companies in the Dietary Supplements Market
- Amway Corp.
- Glanbia PLC
- Abbott
- Bayer AG
- Pfizer Inc.
- ADM
- Nu Skin Enterprises, Inc.
- GlaxoSmithKline plc
- Bionova
- Ayanda
- Arkopharma
- Herbalife International of America, Inc.
- Nature’s Sunshine Products, Inc.
Recent Developments Observed by FMI
- In November 2022, Jollywell, an esteemed brand specializing in online nutraceuticals, introduced an innovative series of products designed to enhance individuals' long-term well-being. Crafted from pure plant-based ingredients and devoid of GMOs, these supplements are accurately developed with a selection of nature's premium superfoods.
- In September 2022, Abbott unveiled an innovative iteration of Ensure, featuring an infusion of HMB. The novel Ensure variant incorporates a comprehensive spectrum of 32 vital nutrients, including protein, calcium, and vitamin D. All of these are accurately combined to enhance both muscular and skeletal robustness.
Act Now to Explore In-Depth Market Analysis: Get an Exclusive Discount Now to Access Industry Insights: https://www.futuremarketinsights.com/checkout/263
Dietary Supplements Market Segmentation
By Form:
- Soft Gel or Capsules
- Confectionary Products
- Gummies
- Chews
- Others
- Pharmaceutical Products
- Chewable Pills and Pills
- Soft Gel
- Confectionary Products
- Powder
- Liquid
By Ingredient:
- Vitamins & Minerals
- Amino Acids
- Botanical Supplements
- Others
By End Use:
- Men
- Women
- Senior Citizen
- Others
By Application:
- Weight Loss
- Sports Nutrients
- General Well Being
- Immune Health and Digestive Health
- Bone and Joint Health
- Heart Health
- Others
By Distribution Channel:
- Pharmacies Drug Store
- Health & Beauty Stores
- Immune Health and Digestive Health
- Bone and Joint Health
- Heart Health
- Other
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Have a Look at Related Reports of Food and Beverage Domain:
- The pet dietary supplement market is projected to be worth US$ 4,269.1 million in 2023. The market is likely to reach US$ 8,288.4 million by 2033.
- The probiotic supplements market is estimated to be valued at US$ 7,078.1 million in 2023. It is anticipated to reach US$ 23,977.9 million in 2033. The market is expected to grow at an impressive CAGR of 13.0% from 2023 to 2033.
- The global digestive health supplements market size is estimated to reach US$ 17,160 million in 2023. With demand expanding at a 6% CAGR, the market size is projected to reach US$ 29,648.6 million over the forecast period.
- The multi nutritional supplement market was worth US$ 310 Billion in 2020 and is expected to advance at a 5.9% CAGR from 2022 to 2032.
- The global Protein Supplement Market size is projected to surpass a valuation of US$ 62,990 million by 2033.
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
