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dietary supplements market

Dietary Supplements Market Share, Size, Trends, Industry Analysis Report, By Distribution Channel (Offline Stores, Online Platforms); By End-Use (Children, Infants, Pregnant Women, Adults, Geriatric); By Type; By Form; By Region; Segment Forecast, 2021 - 2028

  • Published Date: Oct 2021
  • Pages: 153
  • Format: PDF
  • Report ID: PM1054
  • Base Year: 2020
  • Historical Data: 2016 - 2019

Report Summary

The global dietary supplements market size was valued at USD 139.42 billion in 2020 and is anticipated to grow at a CAGR of 8.4% during the forecast period. Dietary supplements are developed to supplement a regular diet with vitamins, minerals, amino acids, and probiotics. These are concentrated nutrient sources available as oils, tablets, and capsules to be ingested in measured small unit quantities.

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Increasing consumer inclination towards natural and organic products has encouraged market players to develop botanical ingredients dietary supplements. There has been a rising demand for dietary supplements owing to increasing consumer awareness regarding weight management, nutritional requirements, and fitness. Consumers are increasingly purchasing dietary supplements to boost their immune health during the pandemic.

Industry Dynamics

Growth Drivers
The growth in the obese population, along with lifestyle changes and greater consciousness about health and nutrition, are factors expected to drive the market. Consumers' sedentary lifestyles lead to lifestyle diseases, rising disposable income, a growing geriatric population, and public health and wellness initiatives all contribute to market growth. Increasing consciousness towards physical appearance among women has also fostered the demand for dietary supplements.

The rise in the number of memberships for health clubs and gyms coupled with the growing demand for dietary supplements for sports nutrition has accelerated the market growth. New product launches and acquisitions by leading players in the market coupled with increasing demand from emerging economies are expected to create growth opportunities during the forecast period.

The outbreak of COVID-19 has resulted in increased demand for dietary supplements across the globe. Consumers are purchasing immunity-boosting and nutritious supplements in an attempt to fight against the virus. Increasing initiatives towards preventive healthcare and growing consumption of functional food and dietary supplements to increase immunity positively affects the market. The worsening situation created by the pandemic has significantly increased the consumption of vitamins and supplements such as zinc.

The outbreak of COVID-19 has led to the introduction of several dietary supplements by global and local market players to cater to the growing consumer demands. In May 2020, Homart Pharmaceutical, based in Australia, launched three products comprising vitamin C through its Toplife and Springleaf brands. Toplife introduced a vitamin C tablet along with zinc citric, rosehip, and selenium for enhanced immunity. Under the Springleaf brand, the company introduced a vitamin C stick sachet and a vitamin C tablet containing 1,000 mg of vitamin C.

Report Segmentation

The market is primarily segmented on the basis of type, form, distribution channel, end-use, and region.

By Type

By Form

By Distribution Channel

By End-Use

By Region

  • Vitamins
  • Minerals
  • Amino Acids
  • Botanicals
  • Probiotics
  • Enzymes
  • Others
  • Tablets
  • Capsules
  • Gummies
  • Powder
  • Soft Gels
  • Liquids
  • Others
  • Offline Stores
  • Online Platforms
  • Adults
  • Children
  • Infants
  • Pregnant Women
  • Geriatric
  • North America (U.S., Canada)
  • Europe (Germany, UK, France, Italy, Spain, Netherlands, Austria)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, South Africa, Israel, UAE)

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Insights by Type

The type segment has been divided into vitamins, minerals, amino acids, botanicals, probiotics, enzymes, and others. The demand for vitamins is expected to be high during the forecast period owing to greater demand for immunity-boosting products. The changing lifestyle, greater demand for sports nutrition, and introduction of new vitamin products by market players during the pandemic are expected to drive this segment's growth in the dietary supplement industry.

Insights by Form

On the basis of form, the market is segmented into tablets, capsules, gummies, powder, soft gels, liquids, and others. The tablets segment accounted for the highest market share in 2020 owing to its convenience, low cost, and ease of preparation. Tablets are easy to consume, possess appropriate dosage, provide convenient packaging, and have a higher shelf life, thereby gaining popularity among the masses.

Insights by Distribution Channel

The distribution channel segment has been divided into offline stores and online platforms. Offline stores comprise supermarkets, hypermarkets, convenience stores, pharmacies, and specialty stores. These stores bridge the gap between manufacturers and customers by offering a wide range of product variety at the same place. Consumers are increasingly purchasing dietary supplements from offline stores owing to heavy discounts, availability of a large variety of products under a single roof, and promotional offers to attract consumers.

Insights by End-Use

On the basis of end-user, the market is segmented into adults, children, infants, pregnant women, and geriatric. The adult segment is expected to dominate the global dietary supplements market in 2020. There has been an increasing occurrence of chronic disease among adults, leading to greater demand for dietary supplements from this segment. Increasing disposable income, changing lifestyles, and sedentary working styles have encouraged adults to consume dietary supplements to acquire adequate nutrition.

Geographic Overview

North America dominated the global dietary supplements market in 2020. This region comprises U.S and Canada. North America exhibits the highest obese population. Obesity has increased significantly among children and the geriatric population as a result of increased per-capita consumption of fast food over the years, leading to a high incidence of lifestyle diseases.

There has been an increase in awareness about weight loss and the benefits of eating healthy in recent years, which has increased the demand for dietary supplements. The industry has registered a significant increase in the sales of dietary supplements during the pandemic, driving the industry growth for dietary supplements.

Competitive Landscape

The leading players in the dietary supplements industry include Glanbia, Plc, The Archer-Daniels-Midland Company, Nature’s Sunshine Products, Inc., GlaxoSmithKline plc, Amway Corp., Abbott Laboratories, Arkopharma, NOW Foods, Herbalife International of America, Inc., XanGo, LLC, Nu Skin Enterprises, Inc., Himalaya Global Holdings Ltd., Nutraceutics Corp., Pfizer Inc., and Bayer AG.

These players are expanding their presence across various regions and entering new markets in developing regions to expand their customer base and strengthen their presence in the market. In order to meet the growing consumer demand, the companies are also introducing new innovative products to the industry.

Dietary Supplements Market Report Scope

Report Attributes

Details

Market size value in 2020

USD 139.42 billion

Revenue forecast in 2028

USD 264.82 billion

CAGR

8.4% from 2021 - 2028

Base year

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD billion and CAGR from 2021 to 2028

Segments covered

By Type, By Form, By Distribution Channel, By End-Use, and By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies

Glanbia, Plc, The Archer-Daniels-Midland Company, Nature’s Sunshine Products, Inc., GlaxoSmithKline plc, Amway Corp., Abbott Laboratories, Arkopharma, NOW Foods, Herbalife International of America, Inc., XanGo, LLC, Nu Skin Enterprises, Inc., Himalaya Global Holdings Ltd., Nutraceutics Corp., Pfizer Inc., and Bayer AG

Key Take-Away
Polaris Market Research
Dietary Supplements Market | 2021- 28 | Trends & Size Report