Analysts at Persistence Market Research have conducted detailed research on the global dietary supplements market, and have valued it at US$ 44 Bn in 2021. The market is predicted it to surge at a CAGR of 7.8% from 2021 to 2031 and attain an estimated value of US$ 93.5 Bn by 2031.
Growing interest in a healthy lifestyle is leading to an increase in the consumption of healthy food. Dietary supplements are the best choice for consumers looking to adopt a healthy lifestyle. People across various age groups consume dietary supplements to meet their recommended dietary allowances. Dietary supplements are available in different forms, such tablets, pills, powders, capsules, gelcaps, and liquids. Dietary supplements such as vitamin, botanical, mineral and fatty acid help consumers stay healthy and prevent nutritional deficiency diseases.
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Rising aging population, increasing lifestyle diseases and increasing healthcare cost are some of the important factors driving the growth of the dietary supplements market. Asia Pacific is the largest market for dietary supplements globally. Consumer awareness about the benefits of dietary supplements and wide product availability are the major drivers for the market in Asia Pacific. The increase in disposable income allows customers to spend more on healthy food items.
The dietary supplements market in North America is at mature stage compared to that in developing nations in Asia and Africa. In recent years, consumers have become more conscious of their diet. Rising number of elderly people in North America is leading to a rise in demand for dietary supplements products. Over the last few years, the risk of chronic diseases and maintenance of health in old age have been the major health concerns leading to increased spending on dietary supplement products.
Europe is the second-largest market for dietary supplement products. Recently, consumers in the region are showing great interest in leading healthy lifestyles, in turn, driving the consumption of healthy food. In the European region, Western Europe is the largest market for dietary supplements. Eastern Europe is considered to have higher future growth potential. Rising aging population, increasing lifestyle diseases, and growing healthcare costs are some of the important factors driving the growth of the dietary supplements market in the region.
The dietary supplements market is bifurcated into product (vitamin, botanical, mineral, fatty acids, and others supplements) by value (US$ Bn), application (food and beverages, pharmaceuticals, personal care, and others) by value (US$ Bn), and end user (adult women, adult men, senior citizens, and others) by value (US$ Bn). The global dietary supplements market is expected to increase to nearly US$ 49 Bn in 2031 from US$ 44 Bn in 2021 at a CAGR of 7.8%. Japan is anticipated to hold a market value share of around 27%. The North American market for dietary supplements is anticipated to reach a net worth of nearly US$ 19 Bn by the end of the decade.
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Some of the major companies operating in the global dietary supplements market are NBTY, Inc., Koninklijke DSM N.V., Amway, Herbalife Ltd., Omega Protein Corporation, Bayer AG, Naturalife Asia Co., Ltd., Integrated BioPharma, Inc., Nu Skin Enterprises, Inc., BASF SE, Surya Herbal Ltd., Bio-Botanica Inc., The Himalaya Drug Company, Ricola AG, Pharmavite LLC, Blackmores Ltd., Epax AS, and Axellus AS.
Dietary Supplements Market Taxonomy:
By Product
- Vitamin Supplements
- Mineral Supplements
- Botanical Supplements
- Fatty Acids Supplements
- Others Supplements
By End User
- Adult Women
- Adult Men
- Senior Citizens
- Others
By Application
- Food and Beverages
- Pharmaceuticals
- Personal Care
- Others
By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
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