Dietary Supplements Market Size To Rise US$ 346.36 Bn 2032

The global dietary supplements market size was valued at USD 176.19 billion in 2023 and is projected to hit USD 346.36 billion by 2032, with a CAGR of 7.8% from 2023 to 2032.

Table of Contents

Key Takeaway:

By ingredient, the vitamin segment accounted for 31.4% of the total revenue share in 2022.
The botanical ingredient segment is expected to reach a CAGR of 9.3% during the forecast period.
The proteins and amino acids segment is poised to hit a CAGR of 13.5% between 2023 to 2032.
By form, the tablets segment has generated 33.9% of the total revenue share in 2022.
The liquid form segment is growing at a CAGR of 12.4% between the forecast period 2023 to 2032.
By application, the energy and weight management segment has dominated the market with a revenue share of 30.8% in 2022.
The immunity application segment is expected to witness a CAGR of around 8.9%.
By type, the OTC type segment accounted for 75.8% of revenue share in 2022.
The prescribed dietary supplements segment is growing at a CAGR of 9.7% during the forecast period.
By end-user, the adult segment has captured the highest revenue share of 46.7% in 2022.
By distribution channel, the offline segment has held a revenue share of over 82% in 2022.
In the offline segment, the supermarket and hypermarket segment accounted for 34.2% in 2022.
The North American region has dominated the market with a revenue share of 35.4% in 2022 and growing at a CAGR of 5.8% from 2023 to 2032.

Dietary supplements are defined as products that contain at least one dietary ingredient within them and can be consumed orally. Dietary supplements refer to the products which comprises dietary ingredients that help in the better ingestion. These supplements are mainly used in order to add the nutrients in to the diets in order to reduce the risks associated with the various health conditions including osteoporosis, chronic ailment or arthritis. Composition of majority of the dietary supplements is depends upon the age of the consumer, however primary motive of these supplements is none other than immunity boosting and improving the overall health of the consumer. Global dietary supplements market is gaining attraction worldwide owing to increased awareness regarding its benefits. Dietary supplements are available in various forms such as liquids, powders, capsules, gels tabs among others.

Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1211

Growth Factors

Technological advancements and increased investment in research & development of nutraceuticals and supplement products are expected to boost the market growth in the upcoming years. Rising health awareness among the individuals across the globe along with, growing focus on the dietary habits due to changing lifestyle are among major factors boosting growth of the global industry. Additionally, increasing number of sport events worldwide is leading to increased demand for the dietary supplements which is intern fuelling growth of the dietary supplements marker worldwide. Moreover, growth in the numbers of gymnasiums is having positive impact on the growth of global industry. For instance, total number of gym members in America was registered 62.5 million in year 2018, the number is increased to 64.2 million in 2019. Further, increased focus on the preventive health management as well as increased spending on healthcare is another factor to boost growth of the global market during the forecast time frame. Population in the leading countries and emerging economies are shifting from curative to preventive management of the health, this is in tern creating huge growth opportunities for the major companies of the global market. Further, increasing collaborations among leading layers in order to increase production capacity and product portfolio are anticipated to augment dietary supplement market growth.

Report Highlights:

Based on type segment, vitamin segment projected for the largest revenue 31.5% with significant portion in prediction period of time. This is accredited to ability of the vitamin to be effortlessly excreted by the kidneys. Further, its increased consumption in order to increase overall health is boosting growth of the segment in the near future.
On the basis of application, energy and weight management application is accounted for the share 29.4% in the target industry. This is due to the increasing usage of the dietary supplements by the young and adult population for the, energy gain and weight management application. Further, increased support of the government for the healthy diet as well as increasing trend of online weight loss programs post COVID is expected to drive growth of the target segment in the near future.
Based on end user segment, adults segment planned for the largest revenue 47.1% with significant portion in estimate period of time. Increasing focus of adult population on increasing nutrients intake are driving growth of the segment.
Archer Daniels Midland, a leading company contributes significantly in the target industry and this is due to the various innovative product launches by the company across the world.

Dietary Supplements Market Scope

Report Highlights	Details
Growth Rate from 2023 to 2032	CAGR of 7.8%
Market Size in 2023	USD 176.19 Billion
Market Size by 2032	USD 346.36 Billion
Base Year	2022
Forecast Period	2023 to 2032
Segments Covered	By Ingredient, By Form, By Application, By End User, By Type, By Distribution Channel and By Function
Regional Scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Regional Analysis:

The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, North America dominated the global market with a market share of more than 30%. United States represented the highest share in the North America region primarily due to high healthcare spending along with tendency of preventive management of health among the individuals in the North America. Moreover, increasing gymnasiums in the countries including United States and Canada is expected to have positive impact on the industry growth. Asia Pacific is expected to account for the second largest market in the dietary supplement in terms of revenue in 2022. The growth in the Asian countries is attributed to growing awareness among Asian population regarding health benefits of dietary supplements which is boosting growth of the target industry in the countries of Asia Pacific including China, India, Japan, among others. Increasing sports events in the countries of Asia Pacific is another important factor which is demanding huge amount of dietary supplements and in turn boosting growth of the Asia Pacific dietary supplements market in the near future. Growth in the disposable income as well as rapid urbanization is among major factors projected to have optimistic impact on the growth of the target industry in Asian countries.

Key Market Players and Strategies:

The major companies functioning in the worldwide dietary supplements market are Bayer, NBTY Inc, Bionova Lifesciences, Nu Skin Enterprises, Carlyle Group, Pfizer, Arkopharma Laboratoires Pharmaceutiques, Glanbia, Herbalife International, Abbott Laboratories, GlaxoSmithKline, Nature’s Sunshine Forms, Amway, and Archer Daniels Midland among others. Huge investment in the technological development of the dietary supplements along with business related collaborations are the crucial business strategies started by the major players operating in the global dietary supplements market.

Recent Developments

In November 2023, Your Good Night Acute Sticks, a clinically backed private-label dietary supplement for enhancing many sleep quality measures and immediately impacting acute sleep latency difficulties, was launched by Pharma Linea.
In December 2023, a pioneer in the production and distribution of cutting-edge, natural dietary supplements, BioAdaptives Inc., announced the creation of PROTEINnMORETM, a cutting-edge, plant-based supplement intended to enhance strength and muscle-building. As preserving and increasing lean muscle mass is a critical objective in fitness and weight management, BioAdaptives plans to release Fit Your Outfit (FYO), the AI-based body composition measuring app, in the first quarter of 2024.

Dietary Supplements Market Players

Bayer
NBTY Inc
Bionova Lifesciences
Nu Skin Enterprises
Carlyle Group
Pfizer
Arkopharma Laboratoires Pharmaceutiques
Glanbia
Herbalife International
Abbott Laboratories
GlaxoSmithKline
Nature’s Sunshine Forms
Amway
Archer Daniels Midland

Major Market Segments Covered:

By Ingredient

Vitamins
Minerals
Fibers & Specialty Carbohydrates
Omega Fatty Acids
Botanicals
Proteins & Amino Acids
Others

By Form

Capsules
Tablets
Gummies
Soft gels
Liquids
Powders
Others

By Application

Energy & Weight Management
Bone & Joint Health
Diabetes
General Health
Immunity
Cardiac Health
Gastrointestinal Health
Anti-cancer
Lungs Detox/Cleanse
Sexual Health
Brain/Mental Health
Skin/Hair/Nails
Insomnia
Anti-aging
Menopause
Prenatal Health
Others

By End User

Adults
Geriatric
Pregnant Women
Children
Infants

By Type

OTC
Prescribed

By Distribution Channel

Offline
- Hypermarkets/Supermarkets
- Pharmacies
- Specialty Stores
- Practioner
- Others
Online

By Function

Additional supplements
Medicinal supplements
Sports nutrition

By Geography

North America
- - U.S.
  - Canada
Europe
- - Germany
  - France
  - United Kingdom
  - Rest of Europe
Asia Pacific
- - China
  - Japan
  - India
  - Southeast Asia
  - Rest of Asia Pacific
Latin America
- - Brazil
  - Rest of Latin America
Middle East & Africa (MEA)
- - GCC
  - North Africa
  - South Africa
  - Rest of Middle East & Africa