The global dietary supplement market is set to witness an impressive growth rate of 8% over the forecasted years of 2022 to 2032. The dietary supplement market size is anticipated to reach a valuation of around US$ 350.96 Billion by the end of year 2032 from the current valuation of US$ 163.12 Billion in 2022.
The sales of dietary supplements is expected to get highly profit from the growing acceptability of sports as a vocation that could increase the demand for nutritional supplements. As its use can benefit overall health, bone and joint conditions, cardiovascular function, gastrointestinal irregularities, boost immunity, diabetes, anti-cancer, and other conditions the dietary supplement market opportunities have been augmented immensely in recent years.
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Over the projected period, the Asia Pacific dietary supplements market is anticipated to be driven by increased consumer recognition and rising per capita expendable cash in developing nations like China, India and Japan. While, the US dietary supplements market expansion is anticipated to be aided by rising health expenditure, an ageing population, rising interest in preventative healthcare, and increased interest in achieving wellness via nutrition.
The dietary supplements market trends is also anticipated to rise throughout the projected period as a result of new product introductions, which are likely to enhance the popularity of the product among different categories of demography.
Key Takeaways from Market Study
- The overall growth of the global dietary supplements market, in terms of absolute dollar, is estimated to be around US$ 188 Billion over the next ten years, by following the average CAGR of 8%.
- On the basis of different form of dietary supplement products, soft gel or pills are the highest grossing segment for the target market, with an overall valuation of US$ 83.5 Billion in the year 2022.
- On the basis of ingredients used for the production of dietary supplements, vitamins & minerals are the most widely used segment that translates into a total value of US$ 78 Billion for the year 2022.
- Among all the categories of end users, men or adults were found by the dietary supplements market analysis report in 2022, to be the largest user of the products.
- General wellbeing segment in the applications category incurred the highest demand for dietary supplements that was nearly US$ 42 Billion in the current year.
- Pharmacies drug stores still remain the most preferred distribution channel for the global dietary supplements market by contributing for almost 40% of the total sales. On the other hand online distribution channels is predicted to grow at an above average growth rate during the projection period.
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Competitive Landscape
Some of the well-known dietary supplements market players are Amway Corp., Glanbia PLC, Abbott, Bayer AG, Pfizer Inc., ADM, Nu Skin Enterprises, Inc., GlaxoSmithKline plc, Bionova, Ayanda, Arkopharma, Herbalife International of America, Inc., and Nature’s Sunshine Products, Inc. among others.
Recent Developments in the Global Dietary Supplements Market:
- Ayanda was obtained a patent in Europe in April 2019 for a soft gel capsule that contains active probiotic bacteria. This innovation granted the market a monopoly in the global dietary supplements market as prior to this development, it was challenging to use gels to transport probiotic bacteria because the high temperatures needed to make gels prevented the survival of bacteria.
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Dietary Supplements Market by Segmentation
By Form:
- Soft Gel or Pills
- Confectionary Products
- Gummies
- Chews
- Others
- Pharmaceutical Products
- Chewable Pills and Pills
- Soft Gel
- Confectionary Products
- Powder
- Liquid
By Ingredient:
- Vitamins & Minerals
- Amino Acids
- Botanical Supplements
- Others
By End-use:
- Men
- Women
- Senior Citizen
- Others
By Application:
- Weight Loss
- Sports Nutrients
- General Well Being
- Immune Health and Digestive Health
- Bone and Joint Health
- Heart Health
- Others
By Distribution Channel:
- Pharmacies Drug Store
- Health & Beauty Stores
- Immune Health and Digestive Health
- Bone and Joint Health
- Heart Health
- Other
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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