Dietary Supplements Industry Overview
The global dietary supplements market size was valued at USD 151.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.9% from 2022 to 2030.
Increasing consumer awareness toward personal health and wellbeing is expected to be a key driving factor for dietary supplements over the forecast period. The working population around the globe is struggling to fulfill the dairy nutrient requirements owing to hectic work schedules and changing lifestyles. Increasing dependence on the supplements to fulfill the nutrient requirement owing to their high convenience is expected to drive the market over the forecast period.
Gather more insights about the market drivers, restraints, and growth of the Global Dietary Supplements Market
The U.S. emerged as a leading market for dietary supplements in the North American region owing to the higher spending capacity of the consumers. Increasing spending on healthcare products, the rising geriatric population, rising interest in preventive healthcare, and growing interest in attaining wellness through diet are expected to augment market growth over the forecast period. A growing number of fitness centers, health clubs, and gymnasiums coupled with growing awareness about fitness among the youngsters is expected to increase the demand for energy and weight management. Increasing acceptance of sports as a career is expected to increase the demand for sports nutrition which in turn benefits the market for dietary supplements.
Research and development are the key success factor for dietary supplements which requires heavy investments. Also, stringent regulations regarding the health benefits claim and labeling of the products are expected to create challenges for the dietary supplements over the forecast period. The unprecedented outbreak of the COVID-19 pandemic has largely affected North America and European countries such as the U.S, Italy, Spain, the U.K., France, and Germany. The dietary supplement industry is largely concentrated in these regions which in turn benefitted from the situation as the market witnessed a surge in demand for immunity-boosting supplements.
Browse through Grand View Research's Nutraceuticals & Functional Foods Industry Related Reports
- Vitamins & Minerals Market - The global vitamins & minerals market size was valued at USD 23.29 billion in 2021 and is expected to expand at a compound annual growth (CAGR) rate of 4.6% from 2022 to 2028. Growing self-care and increasing adoption of a more protective approach to wellness is primarily driving the vitamins & minerals market growth.
- Protein Supplements Market – The global protein supplements market size was valued at USD 20.47 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2021 to 2030. The market is gaining momentum owing to the increasing number of health-conscious consumers and fitness centers around the globe.
Market Share Insights
January 2020 - Herbalife Nutrition introduced a new product Beta heart. The product is specifically designed to maintain colosterol level in the blood. A vanilla flavored product, Beta heart is available in a 15 grams sachet.
April 2019 - Ayanda received a patent for a soft gel capsule in Europe that can contain active probiotic bacteria. Before the invention, the application of gels to carry probiotic bacteria was difficult as the production of gels requires high temperatures which did not allow bacteria to survive.
Key Companies profiled:
Some prominent players in the global Dietary Supplements market include.
- Amway Corp.
- Glanbia PLC
- Abbott
- Bayer AG
- Pfizer Inc.
- ADM
- Nu Skin Enterprises, Inc.
- GlaxoSmithKline plc
- Bionova
- Ayanda
- Arkopharma
- Herbalife International of America, Inc.
- Nature’s Sunshine Products, Inc.
Order a free sample PDF of the Dietary Supplements Market Intelligence Study, published by Grand View Research.
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