Dietary Supplements Market Growth, Size, Trends, Revenue, Demand, Challenges and Future Share
Dietary Supplements Market Size- By Product Type, By Ingredient, By Form, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jul-2023 | Report ID: NUTR2302 | Pages: 1 - 243 | Formats*: |
| Category : Nutraceuticals | |||
Dietary Supplements Market Introduction and Overview
According to SPER Market Research, the Global Dietary Supplements Market is estimated to reach USD 289.60 billion by 2033 with a CAGR of 7.2%.
The report includes an in-depth analysis of the Global Dietary Supplements Market, including market size and trends, product mix, distribution channels, and supplier analysis. The term "dietary supplements" refers to products that are consumed orally and contain at least one dietary ingredient. The global market for dietary supplements is primarily driven by the increasing popularity of supplements geared towards sports and athletic performance enhancement. There is a growing consumer demand for meeting daily micronutrient requirements and a significant rise in spending on health and wellness products, which is fueling the growth of the food supplements market. Furthermore, various governments have undertaken initiatives to support the production of herbal supplements, which is expected to have a favorable impact on market growth.
- February 2023: Otsuka Pharmaceutical Co., Ltd. from Japan recently formed a partnership with the Tokyo Marathon. The collaboration aims to offer health management assistance to around 38,000 participating runners and 80 race officials. This initiative is aligned with the company's strategic development and seeks to raise public awareness about the significance of exercise and nutrition.
- December 2022: Amway, in collaboration with the Economic Development Board, established a Business Innovation Hub in Singapore in December 2022. The purpose of this expansion is to address the changing wellness needs in Asia. By leveraging this strategic move, Amway aims to capitalize on the increasing demand for customized health and wellness solutions in the region. This expansion is anticipated to positively impact the company's sales and overall profitability.
Market Opportunities and Challenges
- Opportunity: The market for plant protein ingredients is experiencing rapid growth, presenting significant opportunities for plant-based products as alternatives. The current market scenario is witnessing a shift in consumer preferences towards plant-based sources due to various factors. These include the nutritional benefits offered by plant-based options, the increasing interest in clean eating, rising concerns such as lactose intolerance, and a growing awareness of environmental issues. These factors have collectively contributed to the expansion of the market for plant-based supplements, which are gaining traction and experiencing increased demand.
- Challenge: Nutraceuticals encompass food ingredients and dietary supplements that offer specific medicinal advantages. The utilization and acceptance of nutraceuticals have been on the rise due to the growing prevalence of clinical disorders. For instance, there are supplements designed for individuals with diabetes, providing the right amount of fiber and protein to minimize insulin spikes. Nonetheless, consumer skepticism towards these products has also increased. This skepticism can be attributed to the lack of experimental evidence supporting their claims, misleading advertisements, and strict regulatory frameworks. These factors contribute to a sense of caution and doubt among consumers regarding the efficacy and reliability of nutraceuticals.
Market Competitive Landscape
The global dietary supplements industry is highly competitive due to the presence of numerous players worldwide, leading to fragmentation. Key market leaders, including ADM, Abbott, and Herbalife Nutrition, have gained prominence due to factors like a diverse product portfolio and robust distribution networks. To stay competitive, manufacturers have employed strategies like investments, new product launches, expansions, and acquisitions. The market is expected to grow driven by the increasing demand for skin care supplements that promote collagen formation and support healthy skin. The key players in the Global Dietary Supplements market include Abbott, Amway, Archer Daniels Midland, Arkopharma, Bayer AG, Bionova, Glanbia plc, GlaxoSmithKline plc., Herbalife Nutrition, Nature's Sunshine Products Inc., Nestle, NU SKIN, Pfizer Inc., Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product Type, By Ingredient, By Form, By Application, By End User |
| Regions covered | Asia-Pacific, Middle East and Africa, Europe, North America, Latin America |
| Companies Covered | Abbott, Amway, Archer Daniels Midland, Arkopharma, Bayer AG, Bionova, Glanbia plc, GlaxoSmithKline plc., Herbalife Nutrition, Nature's Sunshine Products Inc., Nestle, NU SKIN, Pfizer Inc., Others |
COVID-19 Impact on Global Dietary Supplements Market
The global dietary supplements market has experienced a positive impact from the sudden outbreak of the COVID-19 pandemic. However, the long-term effects are uncertain due to the ongoing struggles of the global economy and disruptions in trade and supply chains. Nonetheless, the demand for dietary supplements that support immune function and reduce health risks remains high in developed and developing regions. This trend presents growth opportunities for manufacturers as consumers increasingly seek immune-boosting products. Additionally, the availability of a wide range of dietary supplements through e-commerce platforms and cost-effective options like mineral and vitamin supplements contribute to market expansion.
Key Target Audience
- Aging population
- Athletes and fitness enthusiasts
- Health-conscious individuals
- Individuals with specific deficiencies
- Individuals with specific health conditions
- Pregnant women and new mothers
- Vegetarians and vegans
- Others
Our in-depth analysis of the Dietary Supplements Market includes the following segments:
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Key Topics Covered in the Report
- Global Dietary Supplements Market Size (FY’2023-FY’2033)
- Overview of Global Dietary Supplements Market
- Segmentation of Global Dietary Supplements Market By Product Type (OTC, Prescribed)
- Segmentation of Global Dietary Supplements Market By Ingredient (Botanicals, Fibers & Specialty Carbohydrates, Minerals, Omega Fatty Acids, Proteins & Amino Acids, Vitamins, Others)
- Segmentation of Global Dietary Supplements Market By Form (Capsules, Gummies, Liquids, Powders, Soft Gels, Tablets, Others)
- Segmentation of Global Dietary Supplements Market By Application (Anti-aging, Anti-cancer, Bone & Joint Health, Brain/Mental Health, Cardiac Health, Diabetes, Energy & Weight Management, Gastrointestinal Health, General Health, Immunity, Insomnia, Lungs Detox/Cleanse, Menopause, Prenatal Health, Sexual Health, Skin/Hair/Nails, Others)
- Segmentation of Global Dietary Supplements Market By End User (Adults, Children, Geriatric, Infants, Pregnant Women)
- Statistical Snap of Global Dietary Supplements Market
- Expansion Analysis of Global Dietary Supplements Market
- Problems and Obstacles in Global Dietary Supplements Market
- Competitive Landscape in the Global Dietary Supplements Market
- Impact of COVID-19 and Demonetization on Global Dietary Supplements Market
- Details on Current Investment in Global Dietary Supplements Market
- Competitive Analysis of Global Dietary Supplements Market
- Prominent Players in the Global Dietary Supplements Market
- SWOT Analysis of Global Dietary Supplements Market
- Global Dietary Supplements Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Dietary Supplements Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Dietary Supplements Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Dietary Supplements Market
7. Global Dietary Supplements Market, By Product Type (USD Million)
7.1. Global Dietary Supplements Market Value Share and Forecast, By Product Type, 2023-20337.2. OTC7.3. Prescribed
8. Global Dietary Supplements Market, By Ingredient (USD Million)
8.1. Global Dietary Supplements Market Value Share and Forecast, By Ingredient, 2023-20338.2. Botanicals8.3. Fibers & Specialty Carbohydrates8.4. Minerals8.5. Omega Fatty Acids8.6. Proteins & Amino Acids8.7. Vitamins8.8. Others
9. Global Dietary Supplements Market, By Form (USD Million)
9.1. Global Dietary Supplements Market Value Share and Forecast, By Form, 2023-20339.2. Capsules9.3. Gummies9.4. Liquids9.5. Powders9.6. Soft Gels9.7. Tablets9.8. Others
10. Global Dietary Supplements Market, By Application (USD Million)
10.1. Global Dietary Supplements Market Value Share and Forecast, By Application, 2023-203310.2. Anti-aging10.3. Anti-cancer10.4. Bone & Joint Health10.5. Brain/Mental Health10.6. Cardiac Health10.7. Diabetes10.8. Energy & Weight Management10.9. Gastrointestinal Health10.10. General Health10.11. Immunity10.12. Insomnia10.13. Lungs Detox/Cleanse10.14. Menopause10.15. Prenatal Health10.16. Sexual Health10.17. Skin/Hair/Nails10.18. Others
11. Global Dietary Supplements Market, By End User (USD Million)
11.1. Global Dietary Supplements Market Value Share and Forecast, By End User, 2023-203311.2. Adults11.3. Children11.4. Geriatric11.5. Infants11.6. Pregnant Women
12. Global Dietary Supplements Market Forecast, 2019-2033 (USD Million)
12.1. Global Dietary Supplements Market Size and Market Share
13. Global Dietary Supplements Market, By Product Type, 2019-2033 (USD Million)
13.1. Global Dietary Supplements Market Size and Market Share By Product Type (2019-2026)13.2. Global Dietary Supplements Market Size and Market Share By Product Type (2027-2033)
14. Global Dietary Supplements Market, By Ingredient, 2019-2033 (USD Million)
14.1. Global Dietary Supplements Market Size and Market Share By Ingredient (2019-2026)14.2. Global Dietary Supplements Market Size and Market Share By Ingredient (2027-2033)
15. Global Dietary Supplements Market, By Form, 2019-2033 (USD Million)
15.1. Global Dietary Supplements Market Size and Market Share By Form (2019-2026)15.2. Global Dietary Supplements Market Size and Market Share By Form (2027-2033)
16. Global Dietary Supplements Market, By Application, 2019-2033 (USD Million)
16.1. Global Dietary Supplements Market Size and Market Share By Application (2019-2026)16.2. Global Dietary Supplements Market Size and Market Share By Application (2027-2033)
17. Global Dietary Supplements Market, By End User, 2019-2033 (USD Million)
17.1. Global Dietary Supplements Market Size and Market Share By End User (2019-2026)17.2. Global Dietary Supplements Market Size and Market Share By End User (2027-2033)
18. Global Dietary Supplements Market, By Region, 2019-2033 (USD Million)
18.1. Global Dietary Supplements Market Size and Market Share By Region (2019-2026)18.2. Global Dietary Supplements Market Size and Market Share By Region (2027-2033)18.3. Asia-Pacific
18.3.1. Australia18.3.2. China18.3.3. India18.3.4. Japan18.3.5. South Korea18.3.6. Rest of Asia-Pacific
18.4. Europe
18.4.1. France18.4.2. Germany18.4.3. Italy18.4.4. Spain18.4.5. United Kingdom18.4.6. Rest of Europe
18.5. Middle East and Africa
18.5.1. Kingdom of Saudi Arabia18.5.2. United Arab Emirates18.5.3. Rest of Middle East & Africa
18.6. North America
18.6.1. Canada18.6.2. Mexico18.6.3. United States
18.7. Latin America
18.7.1. Argentina18.7.2. Brazil18.7.3. Rest of Latin America
19. Company Profile
19.1. Abbott
19.1.1. Company details19.1.2. Financial outlook19.1.3. Product summary19.1.4. Recent developments
19.2. Amway
19.2.1. Company details19.2.2. Financial outlook19.2.3. Product summary19.2.4. Recent developments
19.3. Archer Daniels Midland
19.3.1. Company details19.3.2. Financial outlook19.3.3. Product summary19.3.4. Recent developments
19.4. Arkopharma
19.4.1. Company details19.4.2. Financial outlook19.4.3. Product summary19.4.4. Recent developments
19.5. Bayer AG
19.5.1. Company details19.5.2. Financial outlook19.5.3. Product summary19.5.4. Recent developments
19.6. Bionova
19.6.1. Company details19.6.2. Financial outlook19.6.3. Product summary19.6.4. Recent developments
19.7. Glanbia plc
19.7.1. Company details19.7.2. Financial outlook19.7.3. Product summary19.7.4. Recent developments
19.8. GlaxoSmithKline plc.
19.8.1. Company details19.8.2. Financial outlook19.8.3. Product summary19.8.4. Recent developments
19.9. Herbalife Nutrition
19.9.1. Company details19.9.2. Financial outlook19.9.3. Product summary19.9.4. Recent developments
19.10. Nature's Sunshine Products Inc.
19.10.1. Company details19.10.2. Financial outlook19.10.3. Product summary19.10.4. Recent developments
19.11. Nestle
19.11.1. Company details19.11.2. Financial outlook19.11.3. Product summary19.11.4. Recent developments
19.12. NU SKIN
19.12.1. Company details19.12.2. Financial outlook19.12.3. Product summary19.12.4. Recent developments
19.13. Pfizer Inc.
19.13.1. Company details19.13.2. Financial outlook19.13.3. Product summary
19.13.4. Recent developments19.14. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Dietary Supplements Market is projected to reach USD 289.60 billion by 2033, growing at a CAGR of 7.2% during the forecast period.
Dietary Supplements Market grew in market size from 2022. The Market is expected to reach USD 289.60 billion by 2033, at a CAGR of 7.2% during the forecast period.
Dietary Supplements Market CAGR of 7.2% during the forecast period.
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Dietary Supplements Market size is USD 289.60 billion from 2023 to 2033.
Dietary Supplements Market Segment is covered By Product Type, By Ingredient, By Form, By Application, By End User.
The North America region is anticipated to have the highest market share in the Dietary Supplements Market.
The key players in the market include Companies Covered Abbott, Amway, Archer Daniels Midland, Arkopharma, Bayer AG, Bionova, Glanbia plc, GlaxoSmithKline plc., Herbalife Nutrition, Nature's Sunshine Products Inc., Nestle, NU SKIN, Pfizer Inc., Others.
The global market for dietary supplements is primarily driven by the increasing popularity of supplements geared towards sports and athletic performance enhancement.
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