LONDON, United Kingdom, Feb. 03, 2023 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Dietary Supplements Market – By Category (Amino Acid, Vitamins, Minerals, Enzymes, Botanicals, and Others), by Formulation (Tablets, Capsules, Powder, and Others) and By Use (Additional Supplements, Sport Nutrition, and Medicinal Supplements): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2023–2028” in its research database.
“According to the latest research study, the demand of global Dietary Supplements Market size & share was approximately USD 168 Billion in 2020. The market is expected to grow above a CAGR of 8.9% and is anticipated to reach over USD 307 Billion by 2028.”
The report analyses the dietary supplements market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global dietary supplements market.
What are Dietary Supplements? How big is the Dietary Supplements Market?
- Report Overview:
Dietary supplements are products that contain a ‘dietary’ element that allows for greater absorption, according to the US Food and Drug Administration. While some dietary supplements are intended to reduce the risk of chronic illnesses, others are intended to improve the nutritional value of the daily diet. As a result, the composition of dietary supplements varies depending on the targeted customer age, but the overall goal stays the same. As consumers around the world become more aware of the benefits of dietary supplements, they are projected to want more of them, assisting the global dietary supplement market to gain traction.
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Market Growth Dynamics: Industry Drivers
- Growing Personal Disposable Income & Increased Consumer Awareness
The global dietary supplement market’s expansion is being fueled by rising personal disposable income and increased consumer awareness of the benefits of dietary supplements. Changing lifestyles, westernization, increased research & development initiatives by big corporations, particularly in developing economies, and ever-increasing global participation in all types of sports are all factors that influence global dietary supplements market growth. Improving distribution channels, an increase in the number of sports complexes & gymnasiums, a rise in customer interest in a balanced diet, an increase in the prevalence of obesity, a rise in consumer health consciousness, and changing consumer tastes & preferences will all contribute to the global dietary supplements market value growth.
Powder, capsules, pills, and various forms of dietary supplements are available. Among those categories, the tablets category led the global market for dietary supplements in 2019. It accounted for more than 40% of total revenue in 2019.
Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2023−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Category, by Formulation, by Use, and by Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Report Scope:
| Report Attribute | Details |
| Market Size in 2020 | USD 168 Billion |
| Projected Market Size in 2028 | USD 307 Billion |
| CAGR Growth Rate | 8.9% CAGR |
| Base Year | 2020 |
| Forecast Years | 2021-2028 |
| Key Market Players | Glanbia Nutritionals, Pfizer, GlaxoSmithKline, Herbalife, Reckitt Benckiser, Sanofi, Abbott, Amway Corp., ADM, Bionova, Nu Skin Enterprises plc., Ayanda, Arkopharma, Nature’s Sunshine Products, Inc., Merck and Bayer AG., and Others/among others |
| Key Segment | By Category, By Formulation, By Use, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
Recent Industry Developments:
- In September 2020, Prorganiq, a prominent producer of natural and organic supplements, has announced the release of their ’24-in-1 Mega Superfoods,’ a revolutionary health product. The new product contains a promising formula of 24 different important greens, veggies, fruits, and herbs in a single capsule, and it improves the health & well-being of its users. 24-in-1 Mega Superfoods is a plant-based dietary supplement that is gluten-free and GMO-free, and it is packed with amino acids, vitamins, and minerals to help individuals live a better lifestyle.
- In March 2023, Zomato, an online food delivery service, is set to launch its own range of functional foods, such as dietary supplements, in the near future.
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Regional Dominance:
- The Asia Pacific is Likely to Dominate the Global Market
The Asia Pacific is likely to dominate the global dietary supplement market and is expected to show quick expansion in both developed and developing countries. Furthermore, the demand for supplements has expanded in recent years in countries such as India, China, and Japan, due to the existence of a large elderly population in these rising markets.
The region’s dietary supplement market is likely to offer considerable investment opportunities, notably for products based on herbal and Ayurvedic extracts. This is because India and Southeast Asian countries have an abundance of raw materials.
Competitive Players
In light of the current enterprises, the global dietary supplements market has a large scope. With FDA restrictions in place, the dominant businesses have a competitive advantage and continue to dominate the industry. The major global companies also have a geographic reach and a high level of brand awareness among customers, giving them an advantage.
Some of the main players in the global dietary supplements market include Glanbia Nutritionals, Pfizer, GlaxoSmithKline, Herbalife, Reckitt Benckiser, Sanofi, Abbott, Amway Corp., ADM, Bionova, Nu Skin Enterprises plc., Ayanda, Arkopharma, Nature’s Sunshine Products, Inc., and Merck and Bayer AG.
Browse the full “Dietary Supplements Market – By Category (Amino Acid, Vitamins, Minerals, Enzymes, Botanicals, and Others), by Formulation (Tablets, Capsules, Powder, and Others) and By Use (Additional Supplements, Sport Nutrition, and Medicinal Supplements): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2023–2028” Report at https://www.fnfresearch.com/dietary-supplements-market
The global dietary supplements market is segmented as follows:
By Category Segment Analysis
- Amino Acid
- Vitamins
- Minerals
- Enzymes
- Botanicals
- Others
By Formulation Segment Analysis
- Tablets
- Capsules
- Powder
- Others
By Use Segment Analysis
- Additional Supplements
- Sport Nutrition
- Medicinal Supplements
By Regional Segment Analysis
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Key Insights from Primary Research
- As per the analysis, the dietary supplements market is likely to grow above a CAGR of around 8.9% between 2023 and 2028.
- The dietary supplements market was worth around US$ 168 Billion in 2020 and is estimated to hit approximately US$ 307 Billion by 2028.
- On the basis of region, Asia Pacific Will Likely Overtake the Global Market.
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