Global Dietary Supplements Market, By Type (Vitamins, Minerals, Amino Acids, Enzymes and Other Supplements), Mode of Application (Capsules, Powder, Liquids, Soft Gels and Gel Caps), Functions (Additional Supplement, Medicinal Supplements and Sports Nutrition), Category (Infant Dietary Supplements, Children Dietary Supplements, Adult Dietary Supplements, Pregnant Women Dietary Supplements and Old-Aged Dietary Supplement), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Data Bridge Market Research analyses that the global dietary supplements market will project a CAGR of 8.72% for the forecast period of 2022-2029. Growth and expansion of the food and beverages industry, growing focus on innovations in the food and beverages sector, rising consumer consciousness towards supplements that promote good health, surging prevalence of chronic diseases and disorders such as diabetes, and high blood pressure and increasing personal disposable income by the major companies are the major factors attributable to the growth of dietary supplements market.
Dietary supplements are the products in the shape of pills that are consumed by the individuals to supplement the diet. Dietary supplements are not medicines that could treat a disease or medical condition. These are rich in dietary ingredients that are either extracted from plant sources or any other kind of synthetic source.
Rising personal disposable income and growing consumer consciousness towards advantages of dietary supplements are the major factors fostering the growth of the market. Changing lifestyle, westernization, rising research and development initiatives taken by major companies especially in the developing economies and ever-rising global participation in all kinds of sports are acting as market growth determinants. Improving distribution channel, rising number of sports complexes and gymnasiums, rising customer interest in balanced diet, ever-rising prevalence of obesity, surging health consciousness among consumers and changing tastes and preferences of consumers will further induce growth in the market value.
However, ever-rising encouragement to breastfeeding over dietary supplements will pose a major challenge to the growth of the market. Fluctuations in the prices of raw materials and supply chain disruptions owing to the pandemic will further restrict the scope of growth for the market. Consumer scepticism associated with the adoption of dietary supplements, side effects associated with over consumption, high costs associated with these products and rise in the cost of research and development activities will also hamper the market growth rate.
This dietary supplements market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on dietary supplements market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Dietary Supplements Market Scope and Market Size
The dietary supplements market is segmented on the basis of type, mode of application, functions, and category. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the dietary supplements market is segmented into vitamins, minerals, amino acids, enzymes, other supplements.
- On the basis of mode of application, the dietary supplements market is segmented into capsules, powder, liquids, soft gels, gel caps.
- On the basis of functions, the dietary supplements market is segmented into additional supplement, medicinal supplements, and sports nutrition.
- On the basis of category, the dietary supplements market is segmented into infant dietary supplements, children dietary supplements, adult dietary supplements, pregnant women dietary supplements, and old-aged dietary supplement.
Dietary Supplements Market Country Level Analysis
The dietary supplements market is analyses and market size, volume information is provided by country, type, mode of application, functions, and category as referenced above.
The countries covered in the dietary supplements market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America region dominates the dietary supplements market and will continue to flourish its trend of dominance during the forecast period owing to the high prevalence of chronic and non-chronic diseases, increasing awareness about the consumption of supplement products in Mexico and increase in the research and development initiatives taken by major companies. Asia-Pacific is set to register the a high growth rate during the forecast period and score the highest CAGR owing to the growing number of leading market players in the region, rising westernization, changing lifestyle, and increasing personal disposable income.
The country section of the dietary supplements market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Dietary Supplements Market Share Analysis
The dietary supplements market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to dietary supplements market.
Some of the major players operating in the dietary supplements market are Abbott, GlaxoSmithKline plc, Bayer AG, Pfizer Inc., ADM, Stepan Company, International Flavors & Fragrances Inc., THE BOUNTIFUL COMPANY., DSM, Amway, Herbalife International of America, Inc., Omega Protein Corporation, Integrated BioPharma, Inc., Nu Skin Enterprises Inc., BASF SE, Surya Herbal Ltd., Bio Botanica, Inc., The Himalaya Drug Company, Ricola, Pharmavite LLC, Blackmores, Epax, and Axellus AS among others.