Dietary Supplements Market

Market Study on Dietary Supplements: Online Retail to Be Profitable Sales Channel for Manufacturers

Dietary Supplements Market Segmented By Nutritional Supplements, Human Dietary Supplements, OTC Vitamins and Dietary Supplements, Health/Dietary Supplements

Dietary Supplements Market Outlook (2022-2032)

Expanding at a CAGR of 8.1%, the global dietary supplements market is projected to increase from a valuation of US$ 181.2 Bn in 2022 to US$ 394.5 Bn by 2032.

Dietary Supplements Market Size (2022E)

US$ 181.2 Bn

Projected Sales of Dietary Supplements (2032F)

US$ 394.5 Bn

Value CAGR (2022-2032)

8.1%

Value Share of Top 5 Countries (2022A)

50%

Dietary supplement consumption accounted for around 30% to 40% value share of the global nutraceutical market in 2022.

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Companies

  • Abbott Laboratories
  • Amway (Nutrilite)
  • DuPont
  • NBTY Inc.
  • Royal DSM N.V.
  • Glanbia Plc.
  • Bayer AG
  • GlaxoSmithKline Plc
  • Herballife International
  • BASF SE
  • GNC Holdings Inc.
  • Now Health Group Inc.
  • Nature's Bounty Co.
  • Solaray Inc.
  • Himalaya Drug Company
  • Sambucol USA
  • Alacer Corp.
  • Inlife Healthcare Products
  • Vitabiotics Ltd.
  • Pfizer Inc.

Consumption Analysis of Dietary Supplements (2017-2021) Vs Market Estimations (2022-2032)

During the historical period, the global dietary supplements market expanded at a CAGR of 7.4%. Dietary supplements, which contain vitamins, minerals, botanical or herbal components, amino acids (protein building blocks), and enzymes, can play an important role in maintaining a healthy lifestyle (complex proteins).

Probiotic supplements, fatty acids (i.e., fish oils), and protein supplements are driving supplement demand. Herbal/botanical supplements are becoming increasingly popular as a supplemental and alternative therapy or addition to conventional medicine. Expansion of the enzymes market is fueled by rising consumer awareness of the severity of digestive diseases.

During the forecast period (2022-2032), the global market for dietary supplements is expected to increase rapidly at a market value CAGR of 8.1%.

dietary-supplements-market

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How is Dietary Supplements Market Growth Being Driven?

“Increasing Consumption of Dietary Supplements in Emerging Countries”

Emerging economies have undergone tremendous economic upheavals in recent years. Consumer awareness regarding health issues as well as the use of dietary supplements has grown. Consumption of dietary supplements is quickly increasing in countries such as India, South Korea, China, and Indonesia.

Human health as well as food, water, air, and weather are being affected by increasing climate changes, hectic lifestyles, and changing food preferences. People are becoming more health-conscious as a result, and they are focused on exercise, nutritional consumption, and nutritious food and supplements to boost their energy levels and maintain balanced health.

Standard lifestyles, jobs, and ease of everyday life routines are luring rural residents to cities, resulting in crowd culture. People prefer sports supplements to maintain their health and fitness, which is boosting the worldwide sports supplements market. As huge multinational firms focus on promoting their products to developing countries, the availability of numerous dietary supplement items has risen.

Dietary supplement manufacturers in these countries benefit from increasing consumer spending power and more access to a variety of brands. Furthermore, the expansion of supplements in these countries is aided by increased online dietary supplement sales. In comparison to the rural population, the urban population has a faster-paced lifestyle. This is a significant influence on their preference for dietary supplements.

For instance, according to the United Nations Department of Economic and Social Affairs (UN DESA), China and India recorded the largest rise in urban population in Asia. China is projected to be home to 292 million urban dwellers while India is expected to have 404 million urban residents by 2050.

“Growing Popularity of Plant-based Dietary Supplements”

Plant-based supplements are gaining traction in the nutraceutical industry and also for dietary supplements owing to their health benefits while also being clean label as compared to animal-sourced supplements. The consumer-driven vegan trend is also a major factor fueling demand growth of plant-based supplements.

Developed countries are witnessing higher demand for plant-based supplement products, thus creating a potential opportunity for weight loss supplement manufacturers to innovate plant-based supplements.

Taking too much of a specific mineral might be harmful in some situations. Mineral toxicity is generally lower in plant-based supplements than in animal-based supplements. A plant-based iron supplement, for example, has a lower risk of toxicity than animal-sourced iron supplements.

Synthetic fillers, harmful chemicals, and artificial sweeteners are often absent in plant-based dietary supplements, which are all too common in other supplements. Oils and other compounds in plants give a natural odor and flavor that are lacking in lab-grown vitamins.

“Changing Lifestyles & Increasing Awareness about Benefits of Dietary Supplements”

Dietary supplement products are becoming increasingly popular among consumers as a way to avoid health problems and meet their dietary needs. Growing number of people, particularly baby boomers, are using nutritional supplements to avoid ailments such as osteoporosis, cardiovascular disease, and other age-related chronic disorders.

Furthermore, people take health supplements to avoid common ailments such as common cold or intestinal issues. As a result, worldwide demand for dietary supplement drinks to prevent diseases has increased dramatically in the previous ten years.

Consumers' growing desire to live a healthy lifestyle has resulted in increased consumption of foods and food ingredients with possible health advantages. Consumers have recently become more sensitive about their eating habits.

“Personalized Nutrition Evolution Creating Opportunity for Dietary Supplement Manufacturers”

Consumer awareness about the benefits of a customized combination of nutritional elements at effective and safe levels is emerging in the personalized nutrition sector. It provides for a personalized diet and supplement plan based on an individual's unique circumstances, including genotyping, blood tests, and personal and/or family health history.

As a result, personalized nutrition products may play an important role in reducing the negative effects of bad eating habits. As the market for dietary supplements expands, so does the recognition of the relevance of individual or mixtures of components in disease prevention and health.

As a differentiating strategy, major companies in the global energy supplement market are focusing on customized solutions for consumers. Manufacturers are creating products for children, women, men, sportspersons, and athletes, among others, based on their nutritional requirements.

The nutritional composition and flavor of products differ depending on the end user, which is becoming a crucial component in the growth of the global energy supplement market.

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How is Market Expansion Being Hindered?

“High Cost of Sports Supplements”

Sports supplements are considered premium nutrition-rich dietary supplements due to their premium ingredients and nutritional content. Sports supplement products are easily available in any supplement store or on e-Commerce sites. When it comes to prices, sports dietary supplements are costly and not affordable by all, owing to which, demand for sports supplements may be affected.

“High Dietary Supplement Consumption Can Have Adverse Health Effects”

Not only are single supplements or supplement combinations unlikely to have a favorable impact on the immune system, but high doses of supplements have been linked to harmful side effects, such as increased tumor growth rates. Despite the absence of scientific evidence, many patients with chronic illnesses use supplements.

Overdosing on supplements can cause blood clotting, migraines, liver damage, decreased bone strength, and birth abnormalities, among other things. Regularly consuming supplements may also impair the body's ability to absorb nutrients.

For instance, an excessive amount of vitamin A can lead to migraines, liver damage, poor bone strength, and birth defects. Overdose of iron can cause nausea and vomiting, as well as damage to the liver and other organs.

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Country-wise Insights

Which Countries Account for Major Share in Europe?

Germany, Italy, and Poland are set to hold major shares in the European market at the end of 2022. Market value shares of Germany, Italy, and Poland are 21.9%, 17.1%, and 12.7%, respectively.

The healthy-living trend and growing awareness regarding natural ingredient supplements have led to the growth in the consumption of dietary supplements and herbal medicinal products in these countries.

Who is Leading Market Expansion in the South Asia & Pacific Region?

In the South Asia and Pacific region, Oceania is showing promising growth for the forecast period and is expected to register a significant value CAGR of 9.8%.

Demand for dietary supplement foods is increasing in the region to help maintain general health and provide support to the immune system.

Category-wise Insights

Should Dietary Supplement Product Suppliers Target Online Retailing?

Based on distribution channel, the market is segmented into pharmacies/drugstores, health & beauty stores, hypermarkets/supermarkets, online retail, and direct selling

Among these, online retail sales of dietary supplements are expected to surge at a value CAGR of 8.8% and reach US$ 37.6 Bn by 2032. As more consumers are shifting to online shopping, demand from online retail is expected to grow substantially over the coming years.

Which End User Accounts for Most Product Demand?

On the basis of end user, adults account for most demand, and this segment is predicted to register a CAGR of 8.4% during the forecast period and reach US$ 228.9 Bn.

Because of the fast-paced life and huge working-class population, adults are expected to consume high amounts of dietary supplements in the long run.

Competitive Landscape

Manufacturers of dietary supplements are aiming at product quality and innovating new products. Companies are deliberately increasing their brand presence in different countries by partnering with distributors for increasing sales.

  • Abbott Laboratories focuses on increasing its global presence through innovative products to increase its revenue and market share. It operates in more than 160 countries with a deep international presence and strong local roots, and further raises product visibility in more countries by partnering with various distributors.
  • Herbalife International focuses on ensuring ease in increasing distributor to consumer connectivity and enhancing consumer experience through a new nutritional app, CRM, and distributor to customer e-Commerce.
  • Bayer AG has collaborated with retailers, pharmacies, and supermarkets to distribute its products across Europe and international markets.
  • GlaxoSmithKline plc. is engaged in increasing distributor to consumer connectivity. The company is carrying out various campaigns for rural consumers to increase brand penetration.

Dietary Supplements Industry Report Scope

Attribute

Details

Forecast period

2022-2032

Historical data available for

2017-2021

Market analysis

USD million for value

Key regions covered

  • North America
  • Latin America
  • Europe
  • South Asia and Pacific
  • East Asia
  • The Middle East & Africa

Key countries covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • BENELUX
  • Nordic
  • Russia
  • Poland
  • India
  • ASEAN
  • Oceania
  • China
  • Japan
  • South Korea
  • GCC Countries
  • South Africa

Key market segments covered

  • Form
  • Type
  • Functionality
  • Sales Channel
  • End User
  • Region

Key companies profiled

  • Abbott Laboratories
  • Amway (Nutrilife)
  • DuPont
  • NBTY Inc.
  • Royal DSM N.V.
  • Glanbia Plc.
  • Bayer AG
  • GlaxoSmithKline Plc
  • Herbal life International
  • BASF SE
  • GNC Holdings Inc.
  • Now Health Group Inc.
  • Nature's Bounty Co.
  • Solaray Inc.
  • Himalaya Drug Company
  • Sambucol USA
  • Alacer Corp.
  • Inlife Healthcare Products
  • Vitabiotics Ltd.
  • Pfizer Inc.

Report coverage

  • Market Forecasts
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & pricing

Available upon request

Dietary Supplements Industry Research by Category

Dietary Supplements Market by Form:

  • Powder Dietary Supplements
  • Liquid Dietary Supplements
  • Chewable (Gummies, Softgel) Dietary Supplements
  • Dietary Supplement Tablets

Dietary Supplements Market by Type:

  • Vitamins & Minerals
  • Herbal
  • Probiotics
  • Amino Acids
  • Enzymes
  • Omega Fatty Acids
  • Fibers

Dietary Supplements Market by Functionality:

  • Dietary Supplements for Weight Management
  • Dietary Supplements for Sports Nutrition
  • Dietary Supplements for General Wellbeing
  • Dietary Supplements for Immune & Digestive Health
  • Dietary Supplements for Bone & Joint Health
  • Dietary Supplements for Heart Health
  • Others

Dietary Supplements Market by Sales Channel:

  • Pharmacies/Drugstores
  • Health & Beauty Stores
  • Hypermarkets/Supermarkets
  • Online Retail
  • Direct Selling

Dietary Supplements Market by End User:

  • Dietary Supplements for Adults
  • Dietary Supplements for Kids
  • Dietary Supplements for Geriatric Population

Dietary Supplements Market by Region:

  • North America Dietary Supplements Market
  • Latin America Dietary Supplements Market
  • Europe Dietary Supplements Market
  • South Asia and Pacific Dietary Supplements Market
  • East Asia Dietary Supplements Market
  • The Middle East and Africa Dietary Supplements Market

Media Release

- FAQs -

The global dietary supplements market is currently valued at over US$ 181.2 Bn.

Increasing attention on health, greater customization of, rising consumer awareness regarding the severity of digestive disorders and benefits of dietary supplements, and rising consumption of dietary supplements in emerging countries are aiding market expansion.

From 2016 to 2020, sales of dietary supplements increased at a CAGR of 7.4%.

Sales of dietary supplements are set to increase at 8.1% CAGR and reach US$ 394.5 Bn by 2031.

Abbott Laboratories, Amway (Nutrilife), Bayer AG, GlaxoSmithKline Plc, and DuPont are the top 5 dietary supplement manufacturers.

The U.S., Canada, China, Brazil, and Germany drive most dietary supplement sales.

The U.S. dietary supplements market accounts for a value of US$ 51.7 Bn in 2022, while China has a value of US$ 9.6 Bn.

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