In 2023, the global dietary supplements industry reached a value of USD 86.77 billion. It is projected to grow from USD 93.46 billion in 2024 to USD 182.52 billion by 2032, registering a compound annual growth rate (CAGR) of 8.73% over the forecast period (2024–2032). Asia Pacific dominated the global market in 2023, accounting for 41.97% of the total market share.
Dietary supplements, which include one or more nutritional components, are witnessing increasing demand globally. This growth is being fueled by rising interest in sports nutrition and performance-supporting products. Additionally, consumers are placing greater emphasis on meeting daily micronutrient requirements and investing more in health and wellness, which further contributes to market expansion.
Information Source: https://www.fortunebusinessinsights.com/dietary-supplements-market-102082
Market Segmentation
Vitamins Segment Leads Due to Widespread Usage
Based on type, the market is categorized into vitamins, enzymes, fatty acids, proteins, minerals, and others. In 2023, vitamins emerged as the leading segment, primarily driven by their broad application in addressing nutritional deficiencies across diverse regions.
Tablet Form Dominates Owing to Cost and Shelf Life Benefits
The market is segmented by form into tablets, capsules, powders, and liquids. Tablets held the largest market share, attributed to their affordability, ease of storage, and longer shelf life compared to other formats.
General Health Application Commands Major Share
By application, the market includes energy & weight management, bone & joint health, immunity, cardiac health, brain & mental health, general health, healthy aging, skin/hair/nails, and others. The general health segment holds the largest share, supported by growing public awareness of preventive care and long-term health maintenance.
Adults Represent the Largest Consumer Base
When segmented by end-user, the categories include adults, children, elderly, and pregnant women. Adults account for the largest share, driven by higher health awareness and an increasing inclination toward dietary supplementation.
Pharmacies Lead Distribution Due to Consumer Preference
In terms of distribution channels, the market is segmented into pharmacies, online platforms, supermarkets/hypermarkets, and others. Pharmacies lead the segment, as consumers often prefer in-person guidance when choosing supplements.
Geographical Analysis
The market spans key regions including North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Key Growth Drivers and Market Constraints
Preventive Healthcare Trend Driving Market Expansion
The growing focus on preventive health due to the rise in chronic and age-related diseases is a major growth driver. The industry is also benefiting from product innovations and the entry of both established and emerging brands. However, the relatively high cost of dietary supplements may restrict broader adoption in price-sensitive markets.
Regional Outlook
Asia Pacific Set to Witness Fastest Growth
Asia Pacific is projected to register the highest CAGR of 8.50% during the forecast period, spurred by increasing health awareness and higher uptake of wellness products. Meanwhile, North America continues to see strong demand, supported by the rising prevalence of lifestyle-related conditions such as diabetes and obesity.
Competitive Landscape
Companies Expand Product Lines to Strengthen Market Presence
Key players are focusing on diversifying their product portfolios to enhance market competitiveness. Nestlé S.A., for example, is actively investing in marketing, product innovation, and manufacturing capacity to respond to growing demand.
Major Companies Profiled in the Market:
- Amway Corp (U.S.)
- Abbott (U.S.)
- Nestlé S.A. (Switzerland)
- Herbalife Nutrition Ltd. (U.S.)
- Archer Daniels Midland Company (U.S.)
- Glanbia Nutritionals (U.S.)
- Otsuka Holdings Co. Ltd. (Japan)
- Arkopharma (France)
- Pfizer Inc. (U.S.)
- GlaxoSmithKline plc (U.K.)
Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/dietary-supplements-market-102082
Industry Update
- November 2023: Abbott launched a new PediaSure product, enhanced with the Nutri-Pull system. The formulation includes essential nutrients such as vitamin D, vitamin C, vitamin K2, and casein phosphopeptides (CPPs), aimed at supporting children's growth and development.
Comments
0 comment