Rockville, MD, Nov. 25, 2024 (GLOBE NEWSWIRE) -- According to an updated industry report compiled by Fact.MR, a market research and competitive intelligence provider, valuation of the global dietary supplement market is estimated to touch US$ 190.12 billion in 2024 and increase at 8% CAGR between 2024 to 2034.
The growing number of consumers purchasing clean-label and sustainable products that are plant-based, organic, and natural is driving the dietary supplement market growth. There is a rising demand for increased transparency in the sourcing of ingredients combined with a desire to have a smaller environmental impact. Along with the broader trend towards sustainable and health-promoting lifestyle choices, more consumers now perceive plant-based and natural supplements as superior and healthier alternatives to synthetic ones.
North America is holding a leading position due to the growing popularity of dietary supplements among consumers leading busy lives. The market in the region is expanding at a notable rate due to the existence of several prominent supplement companies as well as a solid retail infrastructure, including online platforms.
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Key Takeaways from Dietary Supplement Market Study:
- The global market for dietary supplements is projected to reach US$ 410.46 billion by 2034-end. The East Asia market is analyzed to reach a valuation of US$ 42.59 billion in 2024.
- China is approximated to hold 48.9% of the revenue share of East Asia in 2024. The North American region is evaluated to account for 24.3% of the worldwide market share by the end of 2034.
- Worldwide sales of prescribed dietary supplements are forecasted to expand at 8.1% CAGR from 2024 to 2034. Demand for dietary supplements in Japan is projected to touch US$ 27.88 billion by the end of 2034. Based on form, the tablets segment is estimated to hold 24.8% revenue share in 2024.
“Leading dietary supplement companies are expanding the range of products they offer to address several health needs, such as immunity, sports nutrition, beauty supplements, and more,” says a Fact.MR Report
Leading Players Driving Innovation in the Dietary Supplement Market:
Amway Corp.; Glanbia Plc.; Abbott Nutrition; Bayer AG; Pfizer Inc.; ADM; Nu Skin Enterprises Inc.; GlaxoSmithKline Plc.; Bionova; Ayanda; Arkopharma; Herbalife International of America Inc.; Nature’s Sunshine Products Inc.; Steadfast Nutrition; Herbalife Nutrition Ltd.,; Zoe Limited.
Dietary Supplement Market News & Trends:
- To address the unmet protein and nutrient needs of Indians, Steadfast Nutrition added three new supplements to their product line in June 2024. Whey Protein, LIV Raw, and a vegetarian multivitamin mega pack with 180 tablets are among the new offerings. Both serious athletes and health-conscious people are served by these products.
- Herbalife, a prominent health and wellness company and community, announced the launch of the Herbalife GLP-1 Nutrition Companion in February 2024. This new line of food and supplement product combos is intended to support the nutritional needs of individuals taking GLP-1 and other weight-loss medications. Herbalife is the best protein shake in the world. In the US and Puerto Rico, there are currently a number of Herbalife Classic and Vegan substitutes available.
- The personalized nutrition company Zoe launched a whole food "supplement" in July 2024 that can be sprinkled over any meal to enhance nutrition and digestive health. It is made up of seeds, nuts, and useful mushrooms.
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High Preference for Prescribed Dietary Supplements than OTC:
Demand for prescribed dietary supplements is high in comparison with OTC products due to their formulation to meet specific health needs and are widely suggested by several physicians. Customers feel more confident in the efficacy of prescribed supplements because they are generally recommended by medical professionals to meet particular deficits or health problems.
Prescribed supplements are typically manufactured with concentrated ingredients or larger dosages than those found in over-the-counter products. As a result, prescribed supplements are increasingly preferred compared to over-the-counter options by clients looking for specialized health treatments or treating chronic illnesses.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the dietary supplement market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on type (OTC, prescribed), ingredient (vitamins, botanicals, minerals, proteins & amino acids, fibers & specialty carbohydrates, omega fatty acids), form (tablets, capsules, supplements, powders, gummies, liquids), application (energy & weight management, general health, bone & joint, gastrointestinal, immunity, cardiac, diabetes, anti-cancer, lungs detox/cleanse, skin/hair/nails, sexual health, brain/mental, insomnia, menopause, anti-aging, prenatal), end user (adults, geriatric, pregnant women, children, infants), and distribution channel (offline [hypermarkets/supermarkets, pharmacies, specialty stores, practitioners], online), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Discover Additional Market Insights from Fact.MR Research:
Nutraceutical Supplement Market is expanding from an estimated $87.41 billion in 2024 to a colossal $201.75 billion by 2033, fueled by a CAGR of 5.9%.
Powder Dietary Supplements Market expects to reach a valuation of US$ 75.2 Bn by 2032 at a 7.7% CAGR. North America to capture 35% of the market share.
Softgel Dietary Supplements Market to register a CAGR of over 7% during 2021-2031. Vitamin & mineral-based softgel dietary supplements to remain dominant.
Liquid Dietary Supplement Market size is calculated at US$ 49.4 Bn for 2024 & is forecasted to grow at US$ 120 Bn, expanding at a stellar 9.2% CAGR by 2034
Natural Health Supplement Market is expanding from an estimated $58.27 Bn in 2024 to a colossal $121.76 Bn by 2034, fueled by 7.6% CAGR.
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