Newark, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 186.69 billion in 2023 global dietary supplements market will reach USD 462.66 billion in 2033. Dietary supplements are additional sources of micronutrients that complement a regular diet, helping to meet nutritional needs that may not be fully satisfied through food alone. Available in various forms such as tablets, capsules, liquids, gummies, or soft gels, these supplements provide a natural, cost-effective, and safe way to support the body's overall health.
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Common types of dietary supplements include vitamins, minerals, enzymes, probiotics, and more, all of which contribute to the health of the heart, lungs, skin, hair, gut, and bones. Extensive research has shown that, when consumed in regulated amounts, dietary supplements can be effective in addressing conditions such as constipation, diarrhoea, yeast infections, urinary tract diseases, gum disease, and inflammatory bowel disease. Ongoing research and development in this field are expected to create lucrative growth opportunities for the dietary supplements market in the future. In sports, dietary supplements play a significant role by providing additional nutrition required for optimal physical performance and recovery from injuries. These supplements help athletes meet their body's increased nutritional demands, aiding in quicker recovery and enhanced strength, which is crucial for their performance and overall health.
Report coverage & details:
Report Coverage | Details |
Forecast Period | 2024–2033 |
Base Year | 2023 |
Market Size in 2023 | USD 186.69 billion |
Market Size in 2033 | USD 462.66 billion |
CAGR | 9.5% |
No. of Pages in Report | 239 |
Segments Covered | Ingredient Type, Application, Form Type, Distribution Channel, Regions |
Drivers | Rising awareness about dietary supplements and their long-term benefits |
Opportunity | Dietary supplements are preferred over pharmaceutical agents |
Restraints | High cost of dietary supplements |
Key Insight of the Global Dietary supplements Market
North America will dominate the market during the forecast period.
North America currently leads the dietary supplements market, driven by the rise in lifestyle-related and chronic diseases, which has prompted a shift toward preventive healthcare solutions like dietary supplements. The region's high disposable income further boosts market growth. Additionally, the increasing geriatric population is fuelling demand for supplements rich in nutrients but low in calories. Rising consumption of vitamins, minerals, and other supplements among working professionals, athletes, fitness enthusiasts, and the general population also contributes to this trend.
In 2023, the vitamin segment dominated the market with the largest market share of 37% and revenue of 69.07 billion.
The ingredient type segment is divided into vitamins, minerals, enzymes, probiotics, fibers & specialty carbohydrates, botanicals, proteins & amino acids, omega fatty acids, and others. In 2023, the vitamin segment dominated the market with the largest market share of 37% and revenue of 69.07 billion.
Over the forecast period, the gastrointestinal health segment is expected to grow the most and acquire the highest market share during the forecast period. It will grow at a CAGR of 12.29%.
The application segment is divided into energy & weight management, bone & joint health, immunity, diabetes, lungs, skin/hair, mental health, menopause, prenatal health, anti-aging, insomnia, sexual health, anti-cancer, cardiac health, gastrointestinal health, general health, and others. Over the forecast period, the gastrointestinal health segment is expected to grow the most and acquire the highest market share during the forecast period. It will grow at a CAGR of 12.29%.
In 2023, the tablet segment dominated the market with the largest market share of 44% and revenue of 82.14 billion.
The form type segment is divided into tablets, soft gels, gummies, liquids, powders, capsules, and others. In 2023, the tablet segment dominated the market with the largest market share of 44% and revenue of 82.14 billion.
In 2023, the pharmacies segment dominated the market with the largest market share of 45% and revenue of 84.01 billion.
The distribution channel segment is divided into supermarkets/hypermarkets, pharmacies, specialty stores, online, and others. In 2023, the pharmacies segment dominated the market with the largest market share of 45% and revenue of 84.01 billion.
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Advancement in market
In a Pre-Series A investment round headed by RPSG Capital Ventures and includes participation from current investors such as Kotak Alternate Asset Managers Limited, D2C nutrition firm Nutrabay raised $5 million. The additional funding will be put towards expanding its omni-channel reach and accelerating the development of new products. Nutrabay, a company founded in 2017 by Divay, Sharad, and Shreyans Jain, offers a variety of supplements under their own private label as well as for over 100 brands. Whey protein powders, vitamins, gainers, creatine, BCAAs, and Ayurvedic remedies are a few examples of these supplements.
Market Dynamics
Driver: Growing Awareness of Long-Term Benefits of Dietary Supplements.
Increasing cases of obesity, digestive issues, and gut-related ailments have highlighted the importance of a healthy lifestyle. As disposable income rises, consumers are gravitating towards high-end, natural, safe, and cost-effective dietary supplements. The busy modern lifestyle makes these supplements an ideal solution for meeting daily nutritional needs. Additionally, the COVID-19 pandemic has driven demand for supplements that boost immune health, making preventive healthcare a more integral part of people's lives. Dietary supplements not only address dietary deficiencies but also promote skin, heart, lung, hair, and bone health, with minimal side effects and long-term benefits.
Restraints: High Cost of Dietary Supplements.
The expense associated with dietary supplements poses a challenge to market growth. The rising popularity of plant-based or organic supplements, which are often more costly than their animal-based counterparts, further restricts market expansion.
Opportunities: Preference for Dietary Supplements Over Pharmaceuticals.
Advances in research and development have led to innovations in dietary supplements that offer promising benefits, such as addressing conditions like constipation, eczema, sepsis, gum disease, yeast infections, irritable bowel disease, irritable bowel syndrome, and diarrhoea. Supplements for skin and hair health are also gaining popularity in the personal care industry. The increasing demand for energy and weight management supplements has spurred multiple product launches and ongoing research. These innovations are shifting consumer preferences from pharmaceutical agents to dietary supplements, which are seen as natural alternatives with proven health benefits.
Challenges: Stringent International Regulations.
As the dietary supplements market grows globally, there is a push for stricter regulations to protect consumers from misleading health claims and ensure high standards in quality, packaging, distribution, and pricing. These stringent rules can hinder innovation within the industry. Conversely, in markets with lax regulations, the lack of oversight may impede the industry's growth.
Some of the major players operating in the global dietary supplements market are:
• Abbott
• ADM
• Amway Corporation
• Bayer AG
• Glanbia PLC
• GlaxoSmithKline PLC
• Herbalife International of America Inc.
• Nestle SA
• Nu Skin Enterprises Inc.
• Pfizer Inc.
Key Segments covered in the market:
By Ingredient Type
• Vitamins
• Minerals
• Enzymes
• Probiotics
• Fibers & Specialty Carbohydrates
• Botanicals
• Proteins & Amino Acids
• Omega Fatty Acids
• Others
By Application
• Energy & Weight Management
• Bone & Joint Health
• Immunity
• Diabetes
• Lungs
• Skin/Hair
• Mental Health
• Menopause
• Prenatal Health
• Anti-Aging
• Insomnia
• Sexual Health
• Anti-Cancer
• Cardiac Health
• Gastrointestinal Health
• General Health
• Others
By Form Type
• Tablets
• Soft Gels
• Gummies
• Liquids
• Powders
• Capsules
• Others
By Distribution Channel
• Supermarkets/Hypermarkets
• Pharmacies
• Specialty Stores
• Online
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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