New York, USA, April 10, 2024 (GLOBE NEWSWIRE) -- Global Dietary Supplements Market to Grow Immensely by 2030, Predicts DelveInsight | Key Companies - Amway, Abbott, Bayer, Pfizer, Otsuka, GlaxoSmithKline, American Health, Good Health New Zealand
The global dietary supplements market is expected to expand notably at a significant CAGR between 2024 and 2030. This growth is attributed to several factors including the growing sedentary habits of people worldwide, inadequate diets, increasing rates of anemia among women, lack of physical activity, rising consciousness about adopting healthier lifestyles, and the ongoing improvements in providing high-quality, additive-free dietary supplements globally. As a result, the dietary supplements market is forecasted to experience considerable revenue growth throughout the projected period of 2024 to 2030.
DelveInsight’s Dietary Supplements Market Insights report provides the current and forecast market analysis, individual leading dietary supplements companies’ market shares, challenges, dietary supplements market drivers, barriers, trends, and key market dietary supplements companies in the market.
Key Takeaways from the Dietary Supplements Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global dietary supplements market during the forecast period.
- Notable dietary supplements companies such as Amway Corporation, Abbott, Glanbia PLC, Bayer AG, Pfizer Inc., Suntory Holdings Ltd, Herbalife Nutrition, Otsuka Holdings Co. Ltd., GlaxoSmithKline PLC, The Bountiful Company, ADM, NU SKIN, Nature's Sunshine Products, Inc., RBK Nutraceuticals, American Health, Good Health New Zealand, International Flavors & Fragrances Inc., NOW Foods, Bionova, Carlyle Nutritionals, LLC, and several others, are currently operating in the dietary supplements market.
- In October 2022, Brightseed, the bioactive discovery company, launched BRIGHTSEED BIO 01™, a novel dietary hemp fiber to support gut health formulated for use in food and beverages and is the only dietary fiber in the market that contains two bioactive compounds that have shown the ability to support gut barrier integrity in preclinical studies.
- In September 2022, Centrum, a multivitamin brand, announced the launch of the Centrum Multivitamin range recognizing the difference in nutritional requirements by gender and age in India offering 4 multivitamin variants tailored to meet the new age nutrition needs of different consumer cohorts namely Centrum Women, Centrum Men, Centrum Adults 50+ and Centrum Kids. The range of these supplements is vegetarian and by nature gluten-free.
- In September 2022, Tata Consumer Products (TCP), entered the health supplements segment with the launch of ‘Tata GoFit’ plant-protein, a health supplement range for women which is a plant-based easy-to-mix product formulated with the goodness of gut-friendly probiotics. With ingredients like pea and brown rice, it is free from soy, lactose & added sugar.
To read more about the latest highlights related to the dietary supplements market, get a snapshot of the key highlights entailed in the Global Dietary Supplements Market Report
Dietary Supplements Overview
Dietary supplements have become increasingly popular in recent years, offering a wide array of vitamins, minerals, herbs, amino acids, and other substances in convenient forms like pills, capsules, powders, and liquids. These products are designed to complement a person’s diet, providing additional nutrients that might be lacking or aiding in specific health goals. From multivitamins aimed at overall wellness to specialized supplements such as omega-3 fatty acids for heart health or probiotics for gut balance, the market for dietary supplements is diverse and expansive.
While dietary supplements can be beneficial when used appropriately, consumers must exercise caution and awareness. Not all supplements are regulated by the FDA in the same way as pharmaceuticals, leading to variability in quality and potency across brands. Understanding individual nutritional needs, consulting healthcare professionals for guidance, and purchasing supplements from reputable sources are essential steps to ensure safety and effectiveness. With proper knowledge and care, dietary supplements can be a valuable addition to a healthy lifestyle, supporting overall well-being and addressing specific nutritional gaps.
Dietary Supplements Market Insights
In the global dietary supplements market, North America is projected to take the lead in revenue generation. This is attributed to several factors such as the rising instances of mineral deficiency among North Americans, the increasing prevalence of obesity, a growing awareness of the importance of a healthy diet, and other factors. Moreover, advancements like innovative product launches in the dietary supplements industry are expected to boost the demand for these supplements in the region throughout the forecasted period.
As an example, based on information provided by the US Department of Health and Human Services and the US Department of Agriculture in 2020, the majority of the US population falls short of meeting the daily recommendations for essential nutrients. Specifically, 94.3% do not reach the Vitamin D requirement, 88.5% for Vitamin E, 52.2% for magnesium, 44.1% for calcium, 43.0% for Vitamin A, and 38.9% for Vitamin C. Additionally, the same source highlighted that calcium and magnesium are the most deficient micronutrients among Americans.
Moreover, according to information from the National Health and Nutrition Examination Survey (NHANES) of 2021, the percentage of obesity in the United States in 2020 stood at 41.9%. The report also indicated an increase in severe obesity rates in the US from 4.7% in 2017 to 9.2% in 2020. To address obesity and initiate weight loss efforts, dietary aids like protein powders are suggested, potentially leading to an increased demand for such supplements.
Furthermore, the increasing efforts in developing the supplements industry are anticipated to boost the need for dietary supplements. In March 2022, PharmaNutrics introduced a range of five distinct dietary supplements in the US, including SerotomixPlus, GlucanPlus, Gaba 600, EnergixPlux, and CurcumixPlux, each designed for various purposes such as combating fatigue, alleviating stress, supporting musculoskeletal health, and providing anti-inflammatory benefits. Consequently, the combined impact of these factors is projected to enhance the growth of the dietary supplements market in North America throughout the forecasted timeframe.
To know more about why North America is leading the market growth in the dietary supplements market, get a snapshot of the Dietary Supplements Market Outlook
Dietary Supplements Market Dynamics
The growth of the dietary supplements market is significantly driven by the increasing prevalence of poor or inadequate diets worldwide, resulting in issues like malnutrition, diabetes, and a lack of essential vitamins and minerals. With today’s fast-paced lifestyles, limited exercise, and reduced exposure to sunlight, the body often fails to receive and effectively utilize the necessary vitamins and minerals. These factors collectively contribute to a decline in overall health, as individuals struggle to meet their daily macro and micronutrient needs, thus creating a demand for dietary supplements. In 2020, UNICEF reported that only 40% of children who required Vitamin A supplementation actually received it, underscoring the necessity for such interventions. They highlighted that regular, high-dose Vitamin A supplementation is a proven, cost-effective measure, associated with a 12 to 24 percent reduction in all-cause mortality. This growing necessity for essential nutrients, particularly among children combating deficiencies, is expected to further drive the dietary supplements market.
Moreover, there is a rising trend in the global prevalence of anemia among women, primarily due to Vitamin B12 deficiency. According to 2020 data from the World Bank, 29.90% of women aged 15 to 49 globally were anemic in 2019. This increase is often attributed to inadequate diets and the regular menstrual cycle in women, resulting in common micronutrient deficiencies. These deficiencies contribute to a decline in overall health, thereby boosting the global demand for dietary supplements from 2024 to 2030. Dietary supplements are extensively utilized across the globe for various purposes, available in forms such as tablets, capsules, powders, and liquids, making them convenient and time-efficient for consumers to ingest.
Nevertheless, the continued use of supplements comes with various side effects, risks of overdosing, lack of awareness, and social stigma surrounding their consumption. These factors may hinder the growth of the dietary supplements market.
Get a sneak peek at the dietary supplements market dynamics @ Dietary Supplements Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2021–2030 |
| Key Dietary Supplements Companies | Amway Corporation, Abbott, Glanbia PLC, Bayer AG, Pfizer Inc., Suntory Holdings Ltd, Herbalife Nutrition, Otsuka Holdings Co. Ltd., GlaxoSmithKline PLC, The Bountiful Company, ADM, NU SKIN, Nature's Sunshine Products, Inc., RBK Nutraceuticals, American Health, Good Health New Zealand, International Flavors & Fragrances Inc., NOW Foods, Bionova, Carlyle Nutritionals, LLC, among others |
Dietary Supplements Market Assessment
- Dietary Supplements Market Segmentation
- Dietary Supplements Market Segmentation By Type: Vitamins And Minerals, Proteins, Fibres, Fatty Acids, and Others
- Dietary Supplements Market Segmentation By Form: Tablets and Capsules, Powders, and Others
- Dietary Supplements Market Segmentation By End User: Hypermarkets And Supermarkets, Pharmacies, E-commerce, and Others
- Dietary Supplements Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the dietary supplements market are set to emerge as the trendsetter explore @ Dietary Supplements Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Dietary Supplements Market |
| 7 | Dietary Supplements Market Layout |
| 8 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Dietary Supplements Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | About DelveInsight |
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About DelveInsight
DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.
