Global Dietary Supplements Market

Dietary Supplements Market Size, Share, Growth Analysis, By Type(Probiotics, Vitamins, Botanicals, Others), By Method of Application(Tablets, Capsules, Liquids, Powders), By End User(Adults, Geriatrics, Infants, Children), By Ingredients(Vitamins, Botanicals, Minerals, Proteins & Amino Acids), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35I2233 | Region: Global | Published Date: September, 2024
Pages: 157 | Tables: 127 | Figures: 77

Dietary Supplements Market Regional Insights

Geographically, North America dominated the market in 2023 and is expected to lead over the forecast period owing to the increased consumer education and awareness, strong distribution channel, and innovations and research and developments. Region holds strong focus on active health and wellness, which ultimately drives the demand for different types of dietary supplements as preventive solutions. North America also holds a well-developed retail ecosystem for a broader range of products. The key players profiled in the region include GNC Holdings, Inc., Herbalife Nutrition Ltd., Nature’s Bounty Co., Vitamin Shoppe, Inc., NutraBio Labs, Inc., and more. 

Asia-Pacific is the fastest-growing region in the global dietary supplements market due to speedy economic growth, growing health awareness, and the growth of e-commerce. The growing middle-income class and rising disposable income of consumers is increasing the demand and purchase of dietary supplements is increasing spending on better health and overall wellness supplements. Moreover, a large population is becoming aware of preventive healthcare and several chronic health issues, which boosts the demand supplements for enhancing overall being. Speedy expansion of e-commerce is also aiding market growth due to the emergence of several online shopping platforms for these supplements.

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FAQs

Dietary supplements are products specifically designed to improve consumers’ diets that may be insufficient or missing in their regular intake. The market is witnessing momentum backed by the growing elderly population, growing awareness of health, and the growth of preventive healthcare. Moreover, the trend towards organic and natural products, rising demand for supplements aiming at health issues, including immunity and mental health, and the growing prominence of personalized health are impacting the market growth. Nonetheless, a few restraints hampering the market include strict regulatory challenges for companies, high competition, and economic factors like high-priced quality raw materials. Yet, the market will grow progressively due to growth in developing economies and improvements in product formats.

The global dietary supplements market is a highly competitive global market driven by many international competitors. Prominent corporations with cutting-edge AI and ML technology are Google, IBM, Microsoft, and NVIDIA. To support a wide range of applications across industries, these industry experts concentrate on creating cutting-edge algorithms, scalable platforms, and reliable infrastructure. Rapid advances in technology, strategic alliances, and large expenditures on research and development define the competitive environment. 'Amway Corporation', 'Abbott Laboratories', 'Archer Daniels Midland Company', 'Bayer AG', 'Glanbia plc', 'Herbalife Nutrition Ltd.', 'GlaxoSmithKline plc', 'Nestlé S.A.', 'Pfizer Inc.', 'DSM Nutritional Products AG', 'Nature's Bounty Co.', 'Otsuka Holdings Co., Ltd.', 'Pharmavite LLC', 'GNC Holdings Inc.', 'Suntory Holdings Limited', 'The Himalaya Drug Company', 'The Nature's Way Co.', 'NOW Foods', 'USANA Health Sciences, Inc.', 'XanGo, LLC'

The growth of e-commerce and online shopping has increased convenience to access a broader range of products and supplements. This notably contributes to the growth of the dietary supplements market. The market is also witnessing the rise in innovative formats that appeal to a large consumer base. Novel delivery formats like readymade drinks, powders, and gummies increase convenience for users to consumer supplements in their daily diets. 

Growth of E-Commerce: The past decade has witnessed huge growth of online sales and escalating growth in consumer shopping. Online sales are considerably rising, impacted by the growing prominence of direct-to-consumer approaches. Moreover, influencer marketing and social media are the key reasons behind booming advertising of dietary supplements, essentially among the young generation and health-conscious population. 

Geographically, North America dominated the market in 2023 and is expected to lead over the forecast period owing to the increased consumer education and awareness, strong distribution channel, and innovations and research and developments. Region holds strong focus on active health and wellness, which ultimately drives the demand for different types of dietary supplements as preventive solutions. North America also holds a well-developed retail ecosystem for a broader range of products. The key players profiled in the region include GNC Holdings, Inc., Herbalife Nutrition Ltd., Nature’s Bounty Co., Vitamin Shoppe, Inc., NutraBio Labs, Inc., and more. 

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Global Dietary Supplements Market

Report ID: SQMIG35I2233

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