The global dietary supplements market size is expected to reach USD 264.82 billion by 2028 according to a new study by Polaris Market Research. The report “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” offers a detailed insight into current market dynamics and provides analysis on future market growth.
The dietary supplements industry is projected to grow over the forecast period due to greater demand for immunity-boosting products. The outbreak of COVID-19 has increased health concerns and initiatives towards preventive healthcare. The consumption of dietary nutrition has also increased owing to the increasing disposable income of consumers, hectic lifestyles, and greater health awareness.
Global players are introducing new products during the pandemic to increase their customer base and cater to consumers’ growing demand. In February 2021, Kalbe, a pharmaceutical company based in Southeast Asia, introduced Hevit-Plus, an immunity supplement. The supplement comprises 500 mg of Vitamin C, Vitamins B1, B6, B12, E, and Zinc to provide adequate vitamin intake. The company also launched the Hevit-C series in April 2020, a vitamin C supplement consisting of Hevit-C 500Mg and 1000Mg.
The different types of products available in the market include vitamins, minerals, amino acids, botanicals, probiotics, enzymes, and others. The vitamins segment accounted for a major share in 2020. However, the demand for amino acids is expected to increase during the forecast period owing to increased awareness among consumers regarding the health benefits of protein, wellbeing, weight loss, and nutritional needs.
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Various forms of the product, tablets, capsules, gummies, powder, soft gels and liquids are available in the market. Tablets are widely purchased by consumers owing to their effective packaging, affordability, and higher shelf life. The demand for powder-based dietary supplements has increased due to increasing demand for protein supplements for weight management and bodybuilding.
North America emerged as the largest market in 2020 and is expected to maintain its dominance over the forecast period. The U.S has recorded high obesity rates owing to the high consumption of fast food. However, growing awareness regarding health and nutrition has increased the consumption of the product in the region.
Some major market participants 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.
Polaris Market Research has segmented the dietary supplements market report on the basis of type, form, distribution channel, end-use, and region:
Dietary supplements, Type Outlook (Revenue, USD Billion, 2016 – 2028)
- Amino Acids
Dietary Supplements, Form Outlook (Revenue, USD Billion, 2016 – 2028)
- Soft Gels
Dietary Supplements, Distribution Channel Outlook (Revenue, USD Billion, 2016 – 2028)
- Offline Stores
- Online Platforms
Dietary Supplements, End-Use Outlook (Revenue, USD Billion, 2016 – 2028)
- Pregnant Women
Dietary Supplements Regional Outlook (Revenue, USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa