Dietary Supplements Market Size, Share & Trends Report

Dietary Supplements Market Size, Share & Trends Analysis Report By Ingredient (Vitamins, Proteins & Amino Acids), By Form, By Application, By End User, By Distribution Channel, And Segment Forecasts, 2021 - 2028

  • Published Date: Feb, 2021
  • Base Year for Estimate: 2020
  • Report ID: 978-1-68038-919-7
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 200

Report Overview

The global dietary supplements market size was valued at USD 140.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.6% from 2021 to 2028. The increasing consumer awareness regarding personal health and wellbeing is expected to be a key factor driving the market for dietary supplements over the forecast period. The working population around the globe is struggling to fulfill the daily nutrient requirements owing to hectic work schedules and changing lifestyles. This is increasing their dependency on dietary supplements to fulfill the nutrient requirements owing to their high convenience, which, in turn, is expected to drive the market over the forecast period.

U.S. dietary supplements market size, by ingredient, 2017 - 2028 (USD Billion)

The U.S. emerged as a leading market in the North American region in 2020 owing to the higher spending capacity of the consumers. Increasing spending on healthcare products, the rising geriatric population, and growing interest in preventive healthcare and attaining wellness through diet are expected to augment the market growth over the forecast period.

An increasing number of fitness centers, health clubs, and gymnasium, coupled with the growing awareness about fitness among the youngsters, is expected to increase the demand for energy and weight management. Increasing acceptance of sports as a career is expected to increase the demand for sports nutrition, which, in turn, benefits the market growth.

Research and development are the key success factors for dietary supplements, which require significant investments. Moreover, stringent regulations regarding the health benefits claim and labeling of the products are expected to create challenges for the market over the forecast period.

The unprecedented coronavirus (Covid-19) outbreak has largely affected the North American and European countries, such as the U.S., Italy, Spain, the U.K., France, and Germany. The dietary supplement industry is largely concentrated in these regions, which in turn, benefitted from the situation as the market witnessed a surge in demand for immunity-boosting supplements.

Ingredient Insights

Vitamins dominated the market and accounted for 31.4% share in 2020 owing to high demand from working professionals and sports athletes for energy and weight management. The users consume multivitamins through tablets, powder, and liquid owing to the higher convenience index in terms of usage.

Botanicals held the second-largest share in 2020 and are expected to witness significant growth over the forecast period. The increasing adoption of the vegan diet around the globe owing to growing environmental concerns is expected to boost the demand for botanicals over the forecast period.

Proteins and amino acids are expected to exhibit the highest CAGR of 13.3% over the forecast period. The increasing demand for protein supplements, like whey powders, and amino acid products, like creatine, tyrosine, citrulline, and proline, among the consumers owing to the increasing awareness regarding health and diet is expected to drive the market over the forecast period.

Energy and weight management product manufacturers are recently focusing more on incorporating nutraceutical ingredients to enhance the nutritional value of the products. It has increased the demand for fibers and specialty carbohydrates that are indigestible by humans but help in weight management, reducing cholesterol levels, and controlling blood sugar levels.

Application Insights

The energy and weight management application segment led the market and accounted for a revenue share of 29.5% in 2020. Other applications of dietary supplements include general health, bone and joint health, cardiac health, gastrointestinal health, anti-cancer, immunity, diabetes, lungs detox/cleanse, and others.

Dietary supplements are primarily used to fulfill nutritional deficiencies in humans. Increasing awareness among the consumers regarding personal health and wellness is expected to drive the demand for dietary supplements, including protein and amino acids, minerals, vitamins, and omega fatty acids, over the forecast period.

Increasing awareness regarding gut health owing to the increasing prevalence of irritable bowel syndrome, constipation, acid reflux, and indigestion around the globe is expected to drive the demand for fibers and specialty carbohydrates from the gastrointestinal health application segment over the forecast period.

The immunity application segment is anticipated to expand at a CAGR of 8.5% over the forecast period. The COVID-19 outbreak in the year 2020 has increased the demand for immunity-boosting products across the globe. Immunity-boosting vitamins, minerals, and herbs witnessed a surge in demand in 2020, which is expected to continue till the vaccine reaches everyone, thus benefiting the segment growth.

Distribution Channel Insights

OTC channel accounted for the largest revenue share of 73.2% in 2020 and is expected to maintain its lead over the forecast period. The sales of dietary supplements through the OTC distribution channel are expected to witness steady growth owing to rising consumer awareness regarding the health benefits of dietary supplements.

Supermarkets/hypermarkets contribute significantly to the sales of dietary supplements in Europe and North America owing to higher prevalence. The availability of a wide range of products and higher discounts are responsible for the growth of sales through supermarkets/hypermarkets. Furthermore, an increasing number of supermarkets in developing countries is expected to augment the sales of dietary supplements over the forecast period.

Other OTC distribution channels of dietary supplements include nutrition and specialty stores. A specialty store carries more products in a single category, which helps consumers to find unique products that they cannot find in other retail stores. With an explosive growth of specialty stores, supermarkets and hypermarkets are losing their market shares because of their wide product offerings in a single category, flexible store formats, unique designs, and product displays.

Strict regulations by the governing bodies and limited awareness among the individuals related to labeling and health claims are expected to drive the distribution of dietary supplements through the prescribed distribution channel. An increasing number of prescriptions for dietary supplements for individuals with nutritional deficiencies for the precise delivery of nutrients is expected to drive the sales through the prescribed channel over the forecast period.

End-user Insights

Adults dominated the market and accounted for 47.2% share of the overall revenue in 2020. Changing lifestyles and hectic work schedules among working adults are leading to nutritional deficiencies, which are expected to lead to the increased consumption of dietary supplements by adults.

The increasing prevalence of obesity, cardiovascular diseases, diabetes, and other related conditions among adults around the globe is expected to be the key factor driving the market. Increasing acceptance of sports as a professional career is expected to drive the demand for dietary supplements, like proteins, vitamins, and amino acids, over the forecast period.

The growing geriatric population in regions, like North America, Europe, and the Asia Pacific, is expected to augment the market growth over the forecast period. As the geriatric population is susceptible to several infections, the demand for immunity boosters is expected to grow at a higher rate, especially amid the covid-19 pandemic.

The growing awareness regarding the nutritional requirements for children and infants is expected to augment the demand for dietary supplements. The growing working population and increasing per capita income in the developing economies are expected to increase consumer spending on infant nutrition over the forecast period, which is expected to drive the market.

Form Insights

Tablets led the market and accounted for 34.2% share of the global revenue in 2020. The increased popularity of multivitamin products in the form of tablets owing to easy dosage, low cost, higher shelf life, and higher convenience is expected to positively impact the growth of the tablets segment over the forecast period.

The growing importance of microencapsulation of the finished products to ensure the controlled release is expected to increase the demand for capsules from the health and wellness products manufacturers over the forecast period. However, their higher cost compared to tablets is expected to create challenges for the capsules segment over the forecast period.

Global dietary supplements market share, by form, 2020 (%)

A large number of brands including Optimum Nutrition, Quest Nutrition, NOW Foods, and MusclePharm are involved in the manufacturing of powders of protein, omega-3, minerals, and vitamin blends. Increasing demand for powdered supplements among bodybuilders, elite athletes, and fitness enthusiasts is expected to boost the growth of the powdered dietary supplements segment over the forecast period.

The liquid form is anticipated to exhibit the highest CAGR of 10.7% over the forecast period. Liquid dietary supplements are liposomal products that can evenly disperse in the water allowing smooth consumption. Liquid form facilitates the easy formation of blends leading to higher usage in yogurt, smoothies, and other energy drinks.

Regional Insights

North America emerged as a leading regional market with a revenue share of 35.7% in 2020 on account of the growing use of products with high nutritional value and low-calorie content. Furthermore, increasing awareness about the consumption of supplement products in Mexico on account of new product launches is expected to drive the demand for dietary supplements over the forecast period.

Asia Pacific is expected to witness significant growth over the forecast period. The market is expected to be the largest regional market by 2028 owing to the growing consumer base in the countries, including India, China, and South Korea. Increasing expenditure on health-enhancing products in the region owing to growing per capita income and increasing awareness is expected to drive the demand for dietary supplements over the forecast period.

The European region accounted for a significant revenue share in 2020 and is expected to expand at a CAGR of 6.8% over the forecast period. Higher consumer awareness and higher per capita disposable income in the developed countries, like France, Germany, and the U.K., are expected to drive the regional market over the forecast period.

Key Companies & Market Share Insights

The market is highly competitive with the major public as well as private players focusing on innovation and research & development of products. For instance, in April 2019, Ayanda received a patent for a soft gel capsule in Europe that can contain active probiotic bacteria. Before the invention, the application of gels to carry probiotic bacteria was difficult as the production of gels requires high temperature, which did not allow bacteria to survive. Some prominent players in the global dietary supplements market include:

  • Amway Corp.

  • Glanbia PLC

  • Abbott

  • Bayer AG

  • Pfizer Inc.

  • ADM

  • Nu Skin Enterprises, Inc.

  • GlaxoSmithKline plc

  • Bionova

  • Ayanda

  • Arkopharma

  • Herbalife International of America, Inc.

  • Nature’s Sunshine Products, Inc.

Dietary Supplements Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 151.9 billion

Revenue forecast in 2028

USD 272.4 billion

Growth Rate

CAGR of 8.6% from 2021 to 2028

Base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Ingredient, form, application, end-user, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; France; Italy; Spain; U.K.; China; Japan; Australia & New Zealand; Brazil; Peru; Chile; Saudi Arabia; South Africa

Key companies profiled

Amway Corp.; Abbott; Arkopharma; Bayer AG; Glanbia PLC; Pfizer Inc.; ADM; The Nature’s Bounty Co.; NU SKIN; NOW Foods; Herbalife Nutrition of America, Inc.; Nature’s Sunshine Products, Inc; Ayanda; XanGo, LLC; Nutracutics Corp.; American Health; BPI Sports, LLC; Dymatize Enterprices LLC;  Bionova; GlaxoSmithKline plc; Himalaya Global Holdings Ltd.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global dietary supplements market report on the basis of ingredient, form, application, end-user, distribution channel, and region:

  • Ingredient Outlook (Revenue, USD Million, 2017 - 2028)

    • Vitamins

    • Botanicals

    • Minerals

    • Proteins & Amino Acids

    • Fibers & Specialty Carbohydrates

    • Omega Fatty Acids

    • Others

  • Form Outlook (Revenue, USD Million, 2017 - 2028)

    • Tablets

    • Capsules

    • Soft gels

    • Powders

    • Gummies

    • Liquids

    • Others

  • Application Outlook (Revenue, USD Million, 2017 - 2028)

    • Energy & Weight Management

    • General Health

    • Bone & Joint Health

    • Gastrointestinal Health

    • Immunity

    • Cardiac Health

    • Diabetes

    • Anti-cancer

    • Others

  • End-user Outlook (Revenue, USD Million, 2017 - 2028)

    • Adults

    • Geriatric

    • Pregnant Women

    • Children

    • Infants

  • Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)

    • OTC

    • Prescribed

  • Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • Italy

      • U.K.

      • Spain

    • Asia Pacific

      • China

      • Japan

      • Australia & New Zealand

    • Central & South America

      • Brazil

      • Peru

      • Chile

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

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