Dietary Supplements Market Size Worth USD 339.89 Billion in 2032 | Emergen Research
Increasing geriatric population across the globe and shifting consumer preference due to rising health awareness are key factors driving Dietary Supplements market revenue growth
Vancouver, Nov. 30, 2023 (GLOBE NEWSWIRE) — The global dietary supplements market size reached USD 156.89 Billion in 2022 and is expected to register a revenue CAGR of 7.5% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for vegan and plant-based supplements and rising prevalence of obesity and diabetes globally are factors projected to support market revenue growth between 2022 and 2030.
The growing trend of veganism is driving demand for plant-based dietary supplement products. Plants have certain essential nutrients that are not found in animal sources. Phytochemicals, antioxidants, vitamins, and minerals present in plants can help to keep human cells healthy, along with balancing the immune system. A study by doctors at Harvard Medical School suggests that individuals following diets that are high in healthy plant-based foods such as vegetables, fruits, nuts, seeds, and others are at lower risk and severity to COVID-19.
Furthermore, prolonged inflammation can damage tissues that can cause cancer and other inflammatory diseases such as arthritis. Plant-based herbal supplements can reduce the risk caused by these diseases. Increase traction of ashwagandha (also known as Indian ginseng) and elderberry is driving further demand for herbal dietary supplements. According to a report published by the American Botanical Council (ABC), herbal supplements sales in the U.S. exceeded USD 10 billion in 2020 and have increased by approximately 17.3%.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/155
The rising global awareness of personal health and wellness, coupled with a growing focus on mental health, stands out as a pivotal driver for market expansion. In the UK alone, 20% of the population between 16 to 44 takes dietary supplements to enhance their mental and emotional well-being, combat stress, and improve overall health.
Innovation in supplement formats is also playing a crucial role, with alternative formats such as gummies experiencing a 44% increase in sales in the U.S. between 2019 and 2020. Athletes in the U.S. prefer gel and jelly formats for sports nutrition, while South Korean consumers are embracing gel and jelly beauty supplements. Furthermore, the demand for organic, herbal, and plant-based dietary products is on the rise, driven by the desire for products derived from plants with essential nutrients not found in animal-based alternatives. While the market is flourishing, excessive consumption of dietary supplements raises concerns about potential health issues. Side effects such as dizziness, nausea, and skin irritation, coupled with the high costs and low visibility of certain products, pose challenges to sustained market growth.
North America: The North American market, accounting for the largest revenue share in 2022, is driven by the high prevalence of chronic diseases, a focus on health maintenance, and a growing geriatric population.
Asia Pacific: Anticipated to witness the fastest revenue growth, the Asia Pacific market is driven by rising diabetes and obesity rates, changing lifestyles, and increasing health awareness.
Europe: With considerable revenue share, the European market is characterized by major manufacturers engaging in R&D for innovative products and a rising demand for personalized nutrition.
The global dietary supplements market is evolving, propelled by a convergence of health consciousness, technological innovation, and a shift towards personalized nutrition. As consumers prioritize well-being, the market is expected to see sustained growth, presenting opportunities for both established companies and emerging players.
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/155
Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 156.89 Billion |
| CAGR (2023–2032) | 8.0% |
| Revenue Forecast To 2032 | USD 339.89 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Product type, function, target consumer, form, application, distribution channel, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Abbott, ADM, Amway Corp., Nestle, Procter & Gamble, Bayer AG, Herbalife International of America, Inc., Glanbia PLC, Nature’s Sunshine Products, Inc., Lamberts Healthcare, Solgar Inc., Pfizer Inc., Universal Nutrition., Vitamin Packs, Inc., Nuchido and Nuchido Time+, Truebasics.com, Nu Skin International Inc. (NSI), NUTRIBAND, Health Via Modern Nutrition Inc., and Bionova |
| Customization Scope | 10 hours of free customization and expert consultation |
Dietary Supplements Top Companies and Competitive Landscape
The global dietary supplements market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective supplements in the market.
Some major players included in the global dietary supplements market report are:
- Abbott
- ADM
- Amway Corp.
- Nestle
- Procter & Gamble
- Bayer AG
- Herbalife International of America, Inc.
- Glanbia PLC
- Nature’s Sunshine Products, Inc.
- Lamberts Healthcare
- Solgar Inc.
- Pfizer Inc.
- Universal Nutrition.
- Vitamin Packs, Inc.
- Nuchido and Nuchido Time+
- Truebasics.com
- Nu Skin International Inc. (NSI)
- NUTRIBAND
- Health Via Modern Nutrition Inc.
- Bionova.
Strategic Development
- 5 August 2023, Corbion, an importer of algae-based feed ingredients, revealed the launch of its AlgaVia product line as its first entry into the human nutrition business. The omega-3 and omega-9 fatty acid-rich components are created by algal fermentation to reduce strain on marine resources as well as the carbon footprint related to the production of nutritional supplements.
- 2 May 2023. Ingredient Optimized announced the launch of three major Australian brands employing the company’s breakthrough protein technology, ioPea. According to component Optimized, the ioPea component has been clinically proved to be 2-5 times more bioavailable and absorbed than unaltered pea protein.
- 21 February 2023, Lief Labs, a leading formulation and product development innovator and dietary supplement manufacturer, announced the release of its complimentary Brand Boost Guide, which introduces tips, tools, and resources to assist dietary supplement brands in identifying possible approaches to increase sales and avoid loss in a challenging economy.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/155
Some Key Highlights from the Report
- Herbal supplements segment accounted for a significantly large revenue share in 2021, owing to rising adoption of vegan diets in various countries. Herbal supplements are produced using ingredient such as plant roots, seeds, berries, leaves, bark, and flowers, and are highly valued for their healing benefits. Herbal supplements help in boosting immunity without any adverse effects and are more effective in providing symptomatic relief, especially while fighting allergies.
- Energy & weight management segment is expected to account for largest revenue share over the forecast period due to rising health awareness among consumers and increasing number of weight management programs. Dietary supplements contain a variety of ingredients such as vitamins, herbs, minerals, fiber, caffeine, and others, which can help to boost energy, build muscle, and improve nutrition.
- On 19 August 2021, Tikun-Olam partnered with Ambrosia-SupHerb, which is a leading nutritional supplement company based in Israel. This partnership will help both companies to produce and market Israel’s first dietary supplement line using mushrooms and low-delta-9 tetrahydrocannabinol (THC).
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/dietary-supplements-market
For the purpose of this report, Emergen Research has segmented the global dietary supplements market on the basis of product type, function, target consumer, form, application, distribution channel, and region:
- Product Type Outlook (Revenue, USD Billion; 2019–2032)
- Botanicals
- Minerals
- Vitamins
- Amino Acids
- Enzymes
- Probiotics
- Herbal Supplements
- Others
- Function Outlook (Revenue, USD Billion; 2019–2032)
- Medicinal Supplements
- Sports Nutrition
- Additional Supplements
- Others
- Target Consumer Outlook (Revenue, USD Billion; 2019–2032)
- Infants
- Children
- Adults
- Pregnant Women
- Geriatric
- Others
- Form Outlook (Revenue, USD Billion; 2019–2032)
- Tablets
- Soft Gels
- Capsules
- Powders
- Liquids
- Gummies
- Others
- Application Outlook (Revenue, USD Billion; 2019–2032)
- Energy & Weight Management
- General Health
- Bone & Joint Health
- Gastrointestinal Health
- Immunity
- Cardiac Health
- Diabetes
- Anti-cancer
- Lungs Detox/Cleanse
- Skin/Hair/Nails
- Sexual Health
- Brain/Mental Health
- Insomnia
- Menopause
- Anti-aging
- Prenatal Health
- Others
- Distribution Channel Outlook (Revenue, USD Billion; 2019–2032)
- Pharmacy
- Supermarket
- Online
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
Curated Reports You Shouldn’t Miss: Dive In Now!
Food Antioxidants Market By Application (Prepared Food, Prepared Meat & Poultry, Bakery & Confectionery), By Type (Synthetic, Natural), By Source (Fruits and Vegetables, Spices and Herbs, Botanical Extracts), and By Region, Forecast to 2028
Natural Sweeteners Market, By Type (Stevia, Sorbitol, Xylitol, Mannitol, Erythritol, Sweet Proteins Others), By End-use (Food & Beverages, Pharmaceuticals, Personal, Care, Others), By Application, and By Region Forecast to 2030
Mushroom Cultivation Market By Type (Button Mushroom, Cremini Mushrooms, Oyster Mushrooms, and Others), By Phase (Composting, Spawning, Casing, Pinning, and Cropping), By Forms (Fresh, Dried, Canned), By Marketing Channels (Online and Offline), and By Region Forecast to 2028
Food-Grade Gases Market By Type (Carbon Dioxide, Nitrogen, Argon, Oxygen), By Application (Freezing, Chilling, Packaging, Carbonation), By End-use (Frozen Products, Vegetables, Dairy Products, Meat & Seafood, Beverages), and By Region, Forecast to 2028
Lactase Market By Form (Liquid, Dry), By Source (Yeast, Fungi, Bacteria), By Application (Food & beverages, Dietary supplements, Pharmaceutical products), and By Region, Forecast to 2028
Food Vacuum Machine Market By Machinery Type (External Vacuum Sealers, Chamber Vacuum Machines, Tray Sealing Machines), By Packaging Type (Rigid, Semi Rigid and Flexible), By End-use (Industrial, Commercial, Domestic), By Application, and By Region Forecast to 2028
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Japanese Version: Dietary Supplements Market
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
Read our Press Release @ https://www.emergenresearch.com/press-release/global-dietary-supplements-market
