The dietary supplements market size is projected to reach US$ 380.43 billion by 2031 from US$ 238.76 billion in 2023. The market is expected to register a CAGR of 6.0% in 2023–2031. Increasing preference for plant-based dietary supplements and nutraceuticals is likely to remain key dietary supplements market trends.
In recent years, health and fitness has picked up as a trend due to rising prevalence of various diseases, such as cancer and cardiovascular disorders, and several medical conditions, such as diabetes, high blood pressure, obesity, and high cholesterol. All these have resulted in rising popularity of dietary supplements worldwide. People have become more aware and concerned about their health and physique over the last few years. Millions of people of various age groups, backgrounds, and geographies are embracing fitness worldwide to better their physical health and overall well-being, which is boosting the demand for dietary supplements substantially. For instance, according to Penn Medicine, more than one third of American citizens use supplements, with 30% of adults of age 65 and older taking four or more supplements of any kind.
Furthermore, social media also plays a significant role in fitness motivation and influencing self-improvement. For instance, social media platforms, such as Instagram, Twitter, and Pinterest, have boosted the popularity of the health and fitness industry, with many celebrities and influencers introducing users to new fitness regimes and dietary supplements, highlighting the benefits they offer to their physical and mental health, in turn, aiding the dietary supplement demand.
Dietary supplements contain ingredients to improve their nutritional worth. Many people use dietary supplements to help them lead a healthy lifestyle. These supplements are typically used to replenish missing nutrients while maintaining adequate dietary levels in the body. Dietary supplements consist of nutrients such as vitamins, minerals, proteins, amino acids, probiotics, and others. They are available in different forms such as tablets, capsules and softgels, powders, and others. Dietary supplements help in fulfilling the specific nutritional requirement of an individual. Rising concerns related to health and fitness amongst the people especially young population group is one of the key factors driving the market growth. Moreover, growing traction for sports and recreational activities and rising awareness related to the advantages of consuming dietary supplements are also propelling the growth of the global dietary supplements market.
consumer preferences are shifting toward botanical extracts due to their increasing desire for clean-label products, rising concerns about sustainability, and an urgent need to avoid allergens. The demographic for these herbal supplements is transitioning from vegans to flexitarians, indicating changes in customer inclinations. Highly concerned about animal cruelty and environmental sustainability, consumers are encouraged to switch to plant-based diets. The changing consumer perception that plant-based products are safer and healthier than animal-derived products is driving the demand for plant-based dietary supplements.
In recent years, the dietary supplements market has experienced various technological advancements. For instance, traditional hard and soft gelatin capsules, lozenges, tablets, powders, and liquids are joined by several other types of supplement forms, such as gummies, bilayer tablets, or granules. Due to increased product innovation and rising consumer desire for personalization in the supplement sector, consumers now have access to a diverse selection of delivery forms to suit their specific lifestyles and preferences, providing the industry with the option to solve swallowing issues and cater to increased consumer demand for customization. As a result, manufacturers are focusing on innovations and are launching new products in different forms and flavors. For instance, in October 2020, Abbott Laboratories has recently introduced Duphalac Bears in India. This product adheres to FSSAI regulations, has benefits of a trusted prebiotic, and promotes the growth of healthy bacteria in the digestive system while decreasing hostile bacteria levels. The company also introduced strawberry-flavored food supplements in India, to support the company's line of dietary supplements available in this country.
Key segments that contributed to the derivation of the Dietary Supplements Market analysis are type, form, distribution channel, and geography.
The geographic scope of the Dietary Supplements Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. The North America dietary supplements market held a significant market share in 2023. In North America, the US is the major market for dietary supplements. There is a rise in the prevalence of obesity, cardiovascular disease, constipation, and other disorders. Such disorders have adverse effects on the health of human beings. As a result, consumers are increasingly turning to dietary supplements in the region. Moreover, the region is dominated by key players such as Amway Corp. and Bayer AG. These players are continuously focusing on fulfilling the growing demand for dietary supplements. Major companies are continuously involved in merger and acquisition activities to introduce innovative products in the dietary supplements market.
The regional trends and factors influencing the Dietary Supplements Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Dietary Supplements Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 238.76 Billion |
| Market Size by 2031 | US$ 380.43 Billion |
| Global CAGR (2023 - 2031) | 6.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Dietary Supplements Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Dietary Supplements Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Dietary Supplements Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
The “Dietary Supplements Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: