The Global Dietary Supplements Market size is expected to reach USD 239.46 Billion in 2028 and register a CAGR of 7.2% over the forecast period, according to the latest report by Reports and Data. Major factors driving market revenue growth are rising prevalence of various chronic diseases such as diabetes, blood pressure, malnutrition, and cardiovascular diseases, increasing spending on healthy food, and growing awareness about tailor-made dietary supplements. Dietary supplements are used to add nutrients to the diet and improve the health status of an individual. Some of the key functions of dietary supplements are energy and weight management, strengthen bone and joint, improve general health, gastrointestinal health, cardio health, immunity, and others.
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Dietary supplements are available in a variety of forms such as powders, gel capsules, capsules, tablets, and syrups. Tablet segment accounted for major revenue share in the global market in 2020. This can be attributed to increasing demand for multivitamins in tablet form due to low cost, dose accuracy, longer shelf life, easy to swallow, and others. Asia Pacific is expected to register a relatively faster revenue CAGR as compared to other regions over the forecast period. Increasing geriatric population and rising preference for healthy lifestyle are key factors boosting market revenue growth in this region.
Some of the Leading Market Players Are Listed Below:
- Amway,
- Herbalife Nutrition,
- ADM,
- Pfizer,
- Abbott Laboratories,
- Arkopharma Laboratories,
- Bayer,
- Nature’s Sunshine Products,
- FANCL
- Others
Market Overview:
All enterprises involved in the processing, packaging, and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and nonalcoholic beverages, are all included. Apart from drugs, this industry touches every product designed for human consumption.
As a result of the current economic depression caused by the Covid-19 outbreak, consumers are seeking to save as much money as possible. Consumers are doing so in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processing companies are getting more creative in order to reduce the cost of goods sold, attract more customers, and increase profit margins.
Obesity has a tremendous impact on the global food and beverage industry. The desire for healthful foods has grown, as has the demand for more detailed nutritional information. Companies have responded by launching lower-calorie foods and tightening control over how their brand is viewed in response to both of these changes. Companies want to be viewed as a healthy brand, thus they support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to deter people from eating them.
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Market Segmentation:
By Type Outlook
- Vitamins
- Minerals
- Amino acids
- Botanicals
- Enzymes
- Probiotics
By Function Outlook
- Additional
- Medicinal
- Sports Nutrition
By Mode of Application Outlook
- Capsules
- Tablets
- Liquid
- Gel Capsules
- Liquid
- Powder
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Dietary Supplements market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Dietary Supplements market.
The global Dietary Supplements market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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