Amid Rising Cases of Lifestyle Diseases, the Dietary Supplements market to reach US$ 163.12 Billion by 2022. The soft gel or pills form segment contributes for nearly half of the overall market size. APEJ dietary supplements market share is anticipated to witness the remarkable growth rate of 9.6%
NEWARK, Del., July 14, 2022 /PRNewswire/ -- The dietary supplements market is anticipated to reach a valuation of US$ 350.96 Billion by 2032, exhibiting a robust CAGR of 8% over the forecast period of 2022-2032. Rising health trends and increasingly health-conscious consumers are driving the market expansion for dietary supplements in the global arena.
Increasing incidences of lifestyle diseases like obesity and diabetes, growing prevalence of high blood pressure and other cardiovascular diseases promote the growth of dietary supplements market. Additionally, rise in the number of people who have added dietary supplements like vitamin pills and gummies into their regular diets propels the market growth.
With obesity and malnutrition cases on the rise across various countries, the demand for dietary supplements is running high. Government initiatives to promote health and wellness for all ages contribute to the rising demand for dietary supplements. Furthermore, growing awareness about health and fitness, proper diet, and weight control supplement the sales of dietary supplements.
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"Growing focus on improved health and fitness regime and invested interest in weight loss will likely raise the sales of dietary supplements in the global market," says an FMI analyst.
Key Takeaways:
- Lifestyle diseases and fitness trends influence the dietary supplements market.
- Sales of dietary supplements in sports nutrition is likely to exceed a CAGR of 11%.
- North America is predicted to record highest growth rates during the forecast period.
- Western Europe is expected to exhibit 9% CAGR over the assessment period.
- France and Germany will lead dietary supplements market in West Germany.
- Japan dietary supplements market is expected to expand at 8.4% CAGR during the forecast period.
- Dietary supplements market in India will record a CAGR of 11.2% during the assessment period.
- Women and senior citizens account for highest consumption of dietary supplements.
- By ingredients, vitamins and minerals dietary supplements are expected to lead the market.
Competitive Landscape
Global Dietary Supplements Market Key Players
- 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.
are some of the key players in the dietary supplements market that are profiled in the full version of the report.
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The global players in the dietary supplements market are investing in inorganic marketing strategies to extend their market reach. Strategic mergers, collaborations, and partnerships are being executed to improve the supply chain channels.
More Insights into the Dietary Supplements Market Report
In its latest report, FMI offers an unbiased analysis of the global dietary supplements market, providing historical data from 2017 to 2021 and forecast statistics for the period 2021-to 2031.
To understand the global market prospect, growth, and range, the market is segmented based on form (soft gel/pills (confectionery products (gummies, chews, others), pharmaceutical products (chewable pills and pills, soft gel)), powder, liquid)),ingredients (vitamins & minerals, amino acids, botanical supplements, others), application (weight loss, sports nutrition, general wellbeing, immune & digestive health, bone & joint health, heart health, others), distribution channel (pharmacies/ drugstore, health & beauty stores, hypermarket/ supermarket, internet, direct selling), end use (men, women, senior citizens, others) and region.
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Dietary Supplements Market Regional Analysis
North America is predicted to register the highest growth rate during the forecast period. Rising preference for nutrition, increasing cases of obesity and diabetes along with a growing focus on weight loss and obesity management will lead the regional market growth. Countries like the U.S and Canada are registering a high demand for dietary supplements due to prevailing health and fitness trends. North America dietary supplement market is expected to grow at 9.2% CAGR during the forecast period.
France and Germany are leading the dietary supplements market in Western Europe. Rising incidences of vitamin D deficiency post-pandemic in these countries is responsible for this regional growth.
The U.K is another nation in Europe that shows substantial market growth potential. The U.K. is expected to register a growth rate of over 9% during 2021-2031. Post-covid impact on the immune health of people as well as health and fitness trends account for the notable market growth.
India, too, presents potential growth opportunity for the dietary supplements market. The vast population, poor dietary habits, rising cases of lifestyle diseases and growing geriatric population presents ample growth opportunities for the dietary supplements market.
Japan is expected to register a CAGR of 8.4% in the dietary supplements market over the forecast period. The rapidly rising geriatric population, western food habits and poor diets account for the rising demand for dietary supplements in the region.
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Dietary Supplements Market Segmentation Analysis
By ingredient type, vitamins and minerals sub-segment will dominate the dietary supplements market during the forecast period. Increasing weight concerns, growing awareness about the importance of healthy diet, and rising cases of vitamin and mineral deficiency account for the anticipated lucrative market growth of the sub-segment.
Based on end use, women and geriatric population are leading the demand for dietary supplements. Increasing health awareness among women and rising geriatric population with multiple health issues have raised the sales of dietary supplements in the global market.
Dietary Supplements Market by Segmentation
By Form:
- Soft Gel or Pills
- Confectionary Products
- Gummies
- Chews
- Others
- Pharmaceutical Products
- Chewable Pills and Pills
- Soft Gel
- Powder
- Liquid
By Ingredient:
- Vitamins & Minerals
- Amino Acids
- Botanical Supplements
- Others
By End-use:
- Men
- Women
- Senior Citizen
- Others
By Application:
- Weight Loss
- Sports Nutrients
- General Well Being
- Immune Health and Digestive Health
- Bone and Joint Health
- Heart Health
- Others
By Distribution Channel:
- Pharmacies Drug Store
- Health & Beauty Stores
- Immune Health and Digestive Health
- Bone and Joint Health
- Heart Health
- Other
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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About FMI - Healthcare
The Healthcare unit of FMI presents a meticulous and factual study of the healthcare industry. This detailed coverage examines commodity, bulk, and specialty to advanced technology developments, and supply-demand-trade assessment. Our research studies serve as reference market guidelines for healthcare manufacturers, channel partners, and government bodies for developing - 'The Way Forward'.
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