New York, May 17, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The Global Dietary Supplements Market was valued at USD 178.82 billion in 2023 and is anticipated to generate an estimated revenue of USD 380.12 billion by 2032, with a CAGR of 8.8% from 2024 to 2032.
Dietary supplements are commodities outlined to provide nutrients that might be absent from the diet. They are usually consumed as tablets, capsules, powder, or as a liquid drink. The rapidly rising demand for dietary supplements industry can be attributed to some normal instances of supplements involving vitamins and minerals, oil supplements, and herbal supplements. Frequently, one might be required to consume supplements briefly. For instance, if one is pregnant, one may be required to consume supplements as a regimen of the pregnancy until the baby is born or until one completes breastfeeding. Folate is normally commended one month prior to becoming pregnant or for the initial three months.
Moreover, the dietary supplements market growth can be attributed to the escalating demand for supplements that improve sports presentation and athletic potential. Further, consumers are increasingly looking for supplements to meet their everyday needs for micronutrients, and the market is profiting from growing consumer disbursement on health and wellness commodities.
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Fundamental Stats from the Report:
- The global market for dietary supplements was valued at USD 178.82 billion in 2023.
- The market is expected to grow at 8.8% compound annual growth rate (CAGR) during the forecast period 2024-2032.
- The dietary supplements market size is anticipated to grow to USD 380.12 billion by 2032.
Key Findings from the Report:
- The market for dietary supplements is expanding due to their surfacing in several configurations, including tablets, capsules, liquids, powders, and gummies, which are consumed orally. They can be utilized for several occasions, such as enhancing holistic health and reinforcing particular bodily tasks.
- The market is primarily segmented by type, form, application, distribution channel, end-use, and region.
- North America dominated the market with the largest dietary supplements market share.
Market Key Players:
- Abbott
- Glanbia, Plc
- The Archer-Daniels-Midland Company
- Nature’s Sunshine Products, Inc.
- GlaxoSmithKline plc
- Amway Corp.
- Abbott Laboratories
- Arkopharma
- NOW Foods
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Important Market Developments:
Growth Drivers:
- One prominent factor driving the growth of the dietary supplements market is the growing movement of consumers looking for prohibitive healthcare procedures, pushed by the escalating pervasiveness of age- and life-linked illnesses. Consumers are becoming more health aware and looking for commodities that offer particular health advantages involving food additives, which can reinforce several points of health, such as digestion, resilience, and heart health.
- Also, the human dietary supplement market is anticipated to profit from administrative directives to encourage the sale of superior and secure nutritional and food supplements. The Food and Drug Administration of the US (USFDA) and other administrative organizations sanction that only secure and productive supplements are obtainable to consumers.
Trends:
- The forecast period will witness a sizeable growth in the dietary supplements market demand mainly because of consumers' escalating engrossment in sports and bodybuilding. Athletes and sports fanatics are growingly utilizing sports nutrition commodities and supplements to enhance their tolerance and performance.
Regional Insights:
North America: The dietary supplements market in North America is expected to increase due to escalating usage of superior nutritional value and roughage commodities. The market in Mexico is also anticipated to push demand due to contemporary product instigation.
Asia Pacific: The region is emerging as the fastest-growing due to growing disbursements of health-improving commodities and escalating per capita income.
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Segmentation Overview:
By Type Outlook:
- Vitamins
- Minerals
- Amino Acids
- Botanicals
- Probiotics
- Enzymes
- Others
By Form Outlook:
- Tablets
- Capsules
- Gummies
- Powder
- Soft Gels
- Liquids
- Others
By Application Outlook:
- Energy & Weight Management
- Bone & Joint Health
- Immunity
- General Health
- Cardia Health
- Others
By Distribution Channel Outlook:
- Online Platforms
- Offline Stores
By End Use Outlook:
- Adults
- Children
- Infants
- Pregnant Women
- Geriatric
By Region Outlook:
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Browse More Research Reports:
Probiotics Market
Specialty Food Ingredients Market
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