The dietary supplements industry is expected to experience an 8.12% compound annual growth rate, increasing from $203.6B in 2023 to $325.4B by 2030. Due growing consumption and demand, the Global Dietary Supplements Market estimated to witness steady growth between 2022 and 2030
Being rich in various nutrients, dietary supplements have become integral to a healthy diet because different food items carry different nutrients and due to the busy lifestyle, consumers cannot eat every necessary nutrient. The market for dietary supplements is rising because they are becoming a part of regular diet among consumers. Market Research Future (MRFR) has published a research report that estimates steady growth for the global dietary supplements market between 2018 and 2024.
The key factors that are driving the growth of global dietary supplements market include growing global acceptance of supplements, continuous research and development (RD) in this field, increasing awareness among the consumers regarding the benefits of dietary supplements, increasing costs of health care that encourages consumers to stay healthy, rising demand for functional food and beverages, and lastly, strategic initiatives undertaken by the major market players.
The global Dietary Supplements Market Outlook has been segmented on the basis of the distribution system, form, type, and lastly region. On the basis of the distribution system, this market has been segmented into store-based and non-store based. Among these, the store-based distribution channel is expected to occupy a major market share during the forecast period. The form-based segmentation of this market covers capsules, liquid, powder, tablet, and others. During the forecast period, the powder form has been projected to have substantial growth. By type, the market has been segmented into amino acids, botanicals, enzymes, minerals, vitamins, and others. Among them, vitamins segment is said to be dominating the market.
The regional segmentation of the global dietary supplements market comprises of North America, Europe, Asia Pacific and rest of the world (RoW). North America dominates the market, followed by Europe. In North America, market growth is mainly in the United States of America (USA) due to the increasing consumption of functional foods among the health-conscious population. After the USA, the next two significant markets in this region are Canada and Mexico. In Europe, the continuous market growth is expected during the forecast period with France, Germany, Italy, Spain, and the United Kingdom (UK) emerging as the major contributors in this market.
According to the report, Asia Pacific is expected to emerge as the fastest during the forecast period. The factors that are driving the market in this region include growing health problems among the consumers, increasing demand for dietary supplements all over the world, and rise in consumer awareness regarding the benefits of dietary supplements. Among RoW countries, the market growth is expected to moderately steady with Argentina, Brazil and South Africa emerging as the biggest markets.
Latest Industry News
TrueSport, a positive youth sports movement powered by the U.S. Anti-Doping Agency (USADA), has announced the release of a new resource to help parents and athletes make healthy choices regarding dietary supplements and nutrition. 21 AUG 2018
US Food and Drug Administration (USFDA) has issued new guidance to clarify that dietary supplements containing pure or highly concentrated caffeine in powder or liquid forms are considered unlawful when sold in bulk quantities directly to consumers. 13 APR 2018
Key Players
The key players in the global Dietary Supplements Market Insights include Abbott Laboratories (USA), Amway (Nutrilite) (USA), Archer Daniels Midland (USA), BASF SE (Germany), Bayer (Germany), E. I. Du Pont de Nemours and Company (USA), and Nutraceutics Inc. (USA).
According to the MRFR reports, the global Dietary Supplements Market Size is likely to attain over USD 328.8 Billion by the end of 2030 while flourishing at a healthy CAGR of over 8.12% during the forecasted era.
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