Dietary Supplements Industry Overview, Trends, Growth Drivers, and Opportunities

The global dietary supplements market is projected to grow from USD 167.5 billion in 2023 to USD 239.4 billion in 2028, at a CAGR of 7.4% during the forecast period. The factors driving the growth are the increasing elderly population, the shift from pharmaceuticals towards nutraceuticals, amino acids, and protein supplements due to the focus on preventive healthcare, and the growing personalized nutrition, which is supporting the dietary supplement industry. Consumers are shifting focus toward self-directed care driven by the growing personal health, weight management, and well-being trend. The personal care markets have changed drastically in recent years, from consumers adopting weight management and protein supplements to help manage lifestyle disorders. In most of the region, it is seen that people do not take an adequate amount of protein, and because of this, the need for amino acids and protein supplements is increasing. Additionally, due to wrong eating habits and improper lifestyles, a vast majority of consumers are opting for weight management supplements to curb obesity and overweight issues.

Dietary Supplements Market Share

Key players in this market include Nestle (Switzerland), Abbott (US), Amway Corp (US), Pfizer Inc. (US), ADM (US), International Flavors Fragrance (US), Otsuka Holdings Co., Ltd (Japan), Glanbia PLC (Ireland), GSK PLC. (UK), Bayer AG (Germany), Herbalife International of America, Inc. (US), Nature's Sunshine Products, Inc (US), Bionova (Canada), ArkoPharma (France), American Health (US), Pure Encapsulation (US), HH Group (Hong Kong), Nu Skin (US), Power Gummies (India), Biomedical Research Laboratories (US), HealthKart (India), NutriScience Corporation (US), Nature's Essentials (US), and Life Extension (US).

Dietary Supplements Market Trends

Growing Consumer Awareness and Focus on Health: There has been an increasing awareness among consumers about the importance of maintaining good health and preventing health issues. This awareness has translated into a growing demand for dietary supplements as people seek convenient ways to complement their diets and address specific health concerns.

Preventive Healthcare and Wellness: Many consumers are shifting their focus from treating illnesses to preventing them. This has led to a rise in the consumption of dietary supplements that claim to support overall wellness, boost immunity, and promote longevity.

Plant-Based and Natural Ingredients: There has been a noticeable trend towards plant-based and natural ingredients in dietary supplements. Consumers are seeking products that align with their preferences for clean labels, sustainability, and a perceived connection to nature.

Personalization and Customization: The one-size-fits-all approach is giving way to personalized and customized solutions. Companies are increasingly offering tailored supplements based on individual health needs, genetic factors, and lifestyle choices.

E-commerce and Direct-to-Consumer Sales: The rise of e-commerce has significantly impacted the distribution of dietary supplements. Many consumers prefer the convenience of online shopping, and this trend is expected to continue. Additionally, some brands have adopted direct-to-consumer models, bypassing traditional retail channels.The sports nutrition function segment is projected to grow at the highest rate during the forecast period. Many sports nutrition supplements available today include multivitamins, branched-chain amino acids (leucine), omega-3 fatty acids, glucosamine, glutamine, beta-alanine, beetroot, and green tea extract, each of which provides different performance benefits. In general, all humans require an adequate amount of macro and micronutrients. However, due to extreme exertion athletes need to monitor their food intake. Sports nutrition supplements provide them with all the required nutrients, which is why this category is projected to grow fastly in the dietary supplements market. Download PDF Brochure:  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=973 North America holds the highest market share during the forecast period. North American nutrition and supplements hold the largest market share and are expected to expand further. The North American population has become more aware of health and has adopted dietary supplements as a part of their daily diet regime to have overall health and weight benefits. The population in the region is more prone to lifestyle disorders like diabetes, obesity, and high blood pressure, due to improper diet. The region is more inclined towards consuming junk and processed food that are devoid of nutrition, which gives rise to health disorders. Additionally, the trend of consuming vegan and less processed food is leading to the increased intake of dietary supplements to tackle nutritional deficiencies. Additionally, South Africa seems to be a potential market in terms of production and consumption of dietary supplements. The general trend of malnourishment and other nutritional deficiencies is seen in the population in the South African region. Together, it drives the overall dietary supplements market.

Essential Insights: Navigating the Nutritional Supplements Market

Embark on a journey through the Nutritional and Dietary Supplements Market with essential insights. Navigate the landscape, unraveling the size, share, and dynamic trends of the dietary supplements market. Explore the market's intricacies to gain a comprehensive understanding of its size and influence.

Dietary Supplements Market size is estimated to reach $239.2 billion by 2027, growing at a CAGR of 8.5% during the forecast period 2022-2027. A dietary supplement is a concentrated supply of important nutrients that are taken from food or produced chemically.

Dietary Supplements Market USD 319,085.34 Mn by 2028, says The Insight Partners

The dietary supplements market was valued at US$ 214,165.30 million in 2021 and is projected to reach US$ 319,085.34 million by 2028; it is expected to grow at a CAGR of 5.9% from 2021 to 2028.

Dietary supplements contain various nutrients, such as vitamins, minerals, proteins, amino acids, and probiotics. Many people use these supplements to lead a healthy lifestyle. Dietary supplements are generally available in different forms such as tablets, capsules and softgels, and powders. Rising concern related to health and fitness amongst the people, especially in young population group, is one of the key factors driving the market growth. Moreover, growing traction for sports and recreational activities and rising awareness related to the advantages of consuming dietary supplements are also propelling the growth of the global dietary supplements market

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In 2020, Asia-Pacific held the largest share of the global dietary supplements market and is estimated to register the highest CAGR in the market during the forecast period. Rising inclination toward health and fitness, changing lifestyle, increasing expenditure on healthcare, and rising prevalence of chronic disease in the region are among the crucial factors driving the growth of the market across Asia-Pacific. The presence of major players, such as Amway Corp. and Bayer AG, is expected to boost market growth in the coming years. These companies are constantly trying to meet the rising demand for dietary supplements and are spending significant amounts on research and development to bring new products to the dietary supplement market.

Increasing Healthcare Expenditure

The increasing geriatric population improved medical facilities, rising obesity cases, and the surging number of insured people has resulted in an upswing in healthcare expenditure. According to a study conducted by the United Nations, the number of elderly people is expected to increase to 1.5 billion by 2050. Globally, the proportion of individuals aged 65 and above climbed from 6% in 1990 to 9% in 2019. In 2019, 703 million people were aged 65 and above across the world. Healthcare expenses are increasing at a rate of around 4.5% every year, according to a study conducted by the United Nations. The healthcare spending in the US climbed by 4.6% in 2019 to US$3.8 trillion, or US$11,582 per person. Thus, a significant rise in healthcare expenditure has enforced people to look for health supplements to keep themselves fit and fine, creating new opportunities for the global dietary supplements market.

Type Insights

Based on type, the dietary supplements market is segmented into vitamins, minerals, proteins and amino acids, probiotics, blends, and others. In 2020, the vitamins segment accounted for the largest revenue share of the global dietary supplements market, whereas the probiotics segment is expected to register the highest CAGR in the dietary supplements market during the forecast period. Vitamins play an essential role in the development and appropriate functioning of the body. The rising importance of vitamin supplements amongst people to fulfil daily nutritional requirements is propelling the market growth for the segment. Moreover, rising vitamin deficiency leading to severe health issues, such as hair loss, muscle weakness, brittle nails, skin problems, and anaemia is driving the demand for vitamin supplements.

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Anona GmbH; Abbott; Amway Corp.; Bayer AG; Arkopharma; Bionova; Pfizer Inc.; Otsuka Holdings Co., Ltd.; GlaxoSmithKline plc.; and The Bountiful Company are among the key players operating in the dietary supplements market. These players are adopting product innovation and new product development strategies to acquire potential consumer groups across the world.

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Saudi Arabia Dietary Supplements Market Size, Share, Price, Trends, Growth, Analysis, Report and Forecast 2024-2032

The Saudi Arabia dietary supplements market size was valued at USD 289.8 million in 2023, driven by increasing prevalence lifestyle disorders due to urbanisation and sedentary lifestyle across the globe. The market size is anticipated to grow at a CAGR of 9.6% during the forecast period of 2024-2032 to achieve a value of USD 658.9  million by 2032. Saudi Arabia Dietary Supplements Market: Competitor Landscape

 Bayer Saudi Arabia, LLC • Procter & Gamble Company (Abudawood Group) • Abbott Saudi Arabia Trading LLC • Pfizer Saudi Limited • Nestlé S.A. (Al Muhaidib Group) • Applied Nutrition Ltd. (AmCan International Group, Inc) Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/saudi-arabia-dietary-supplements-market

https://carbonfacesocial.org/blogs/53015/Nutrition-or-Dietary-Supplements-Market-Share-Overview-Competitive-Analysis-and

The Nutrition or Dietary Supplements Market in 2023 is US$ 179.01 billion, and is expected to reach US$ 362.49 billion by 2031 at a CAGR of 9.20%.

Nutraceutical Ingredients Market - Forecast (2023 - 2028)

Europe Dietary Supplements Market Segment Analysis By Ingredient, Form, Application, End User, Type, Distribution Channel, Region And Forecast Till 2030: Grand View Research Inc.

San Francisco, 31 July 2023: The Report Europe Dietary Supplements Market Size, Share & Trends Analysis Report By Ingredient (Vitamins, Minerals), By Type (OTC, Prescribed), By End-user, By Form, By Application, By Distribution Channel And Segment Forecasts, 2023 – 2030 The Europe dietary supplements market is anticipated to reach USD 65.44 billion by 2030, growing at a CAGR of 7.0% from 2023 to…

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The global dietary supplements market is projected to grow from USD 167.5 billion in 2023 to USD 239.4 billion in 2028, at a CAGR of 7.4% during the forecast period. 

Worldwide Wellness: The Probiotics Market Adventure

Embark on a global wellness journey with insights into the booming Global Probiotics Market. Uncover the Nutritional and Dietary Supplements Market trends, sizes, and shares in the , shaping a healthier future.

Liquid Dietary Supplements Market Share, Size, Trends, Demand, Opportunities and Statistics 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Liquid Dietary Supplements Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global liquid dietary supplements market share, size, trends, and growth forecasts. The report also includes competitor and…

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Whey Protein Market is Anticipated to Reach US$11.2 Bn by 2030 From US$5.3 Bn 2021

“Global whey protein market is on the brink of remarkable growth, with a current valuation of nearly US$5.3 Bn in 2021, projected to skyrocket to US$11.2 Bn by the end of 2030. Boasting a steady growth outlook, the market is set to experience a notable CAGR of 8.6% during 2022 - 2030, signalling a promising future ahead.”

 A global rise in the number of healthcare centres and fitness centre establishments are enabling a coalition of sports and nutrition. Consequently, whey, and casein have become essential dairy proteins in sports nutrition products. Such trends across the sports and nutrition space are carving the dimensions of the global whey protein market. Pervasive hard-core fitness regimes, and strict diet plans among sports individuals are aligning with the need for protein-based nutrition and convenience products. 

Comprising essential amino acids that cannot be produced by the human body itself, whey protein has been instrumental in building and repairing muscle tissue whilst maintaining the overall health of individuals. Serving as a protein supplement, intake of whey protein significantly brings down cholesterol levels and promotes muscle protein synthesis, weight loss, and lean muscle mass growth. These and more such perceived benefits drive the growth of whey protein market space. 

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 Innovative Sports Nutrition Products Drive Market Growth 

The athletics industry is making remarkable contributions to the global whey protein market valuation. In response to the rising demand for sports nutrition products, manufacturers in the domain are now prioritising the development of innovative whey protein products that can meet the diverse needs and preferences of consumers seeking different types of benefits. Various shoppers are attracted to protein-rich products, clearly due to diverse health benefits aiding muscle formation and recovery process.

Similarly, whey protein also tends to facilitate reduction of appetite, and retards age-related loss of muscles. Addressing these trends, manufacturers, including Axiom Foods, Inc, A&B Ingredients, Ingredion Incorporated, Roquette Frères, Puris, Emsland Group, DuPont, Glanbia plc, Scoular Company, and Fenchem, are highly ambitious to deliver products enriched with vital dairy proteins and essential and nonessential amino acids.   

Market Benefits from Growing Consumer Interest in Healthier Whey Snacks 

Past years have been decisive in spurring shifts in food consumption and increased demand for whey protein. A proactive dietary approach undertaken by well-informed consumers has been imperative to realising holistic health goals. Nonetheless, a perfect blend of taste, texture, and health is at the core of consumer diet plans.

 Intake of whey powder can enhance the working of the immune system, promote gut health and maintain overall health. It is in strong concurrence with the fact that whey snacks have become popular among health-driven individuals. To this end, dry whey protein has garnered 90% of overall demand, whereas 40% of the whey protein market share remains in favor of whey protein concentrates.   

Asia Pacific Turns Lucrative with Consistent Growth in Demand

 North America’s lead in the global whey protein market prevails with more than 30% share in overall valuation. The market here will continue to enjoy the first-mover’s advantage throughout the period of projection, states the report. Europe is the second leading market presenting ample opportunity to whey protein manufacturers. 

Asia Pacific is also reportedly generating robust demand and consistent product launches for nutraceuticals, precipitating substantial growth opportunities for the regional market. Several health-related ailments, including IBD and obesity, have cropped up due to changing lifestyles, busier schedules, and unhealthy habits among consumers. Amid growing health concerns, a propensity to consume healthy food and adopt healthier lifestyles has scaled at pace. Moreover, soaring demand from medical, sports, and personal care industries is strengthening China’s, and India’s stand in the global market.

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