Dietary Supplements Market Size, Share & Trend Analysis Report By Ingredient (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes), By Product, By Application, By End-use, And Segment Forecasts, 2018 - 2024

Industry Insights

The global dietary supplements market size was valued at USD 133.1 billion in 2016 and is projected to accelerate at a CAGR of 9.6% from 2016 to 2024. Rising awareness towards weight management among working professionals as a result of extensive brand campaigns by nutritional product manufacturers is expected to have a substantial impact.  

Dietary supplements are majorly consumed with a prime intention to enhance the intake of essential nutritional components in the human body. Growing prevalence of cardiovascular disorders on account of fluctuating diet patterns and inactive lifestyle among the age-group of 30-40 is expected to promote the importance of nutraceuticals.

Rising alertness towards calorie reduction among athletes and gym professionals in countries including China, India, and Italy is expected to promote the application movement in sports nutrition industry. Furthermore, increasing importance of protein on a global level owing to the implementation of new advertising campaigns by companies including Pfizer and Amway is expected to have a significant impact.

Growing awareness towards the importance of functional foods on account of providing optimal health and reducing the risk of cholesterol diseases is expected to reduce the application scope of Dietary Supplements market. Also, the innovation in terms of introduction of new nutraceutical products including yogurt, fresh bread, cereal bars and frozen baked goods is expected to limit the share of dietary counterparts.

Vitamins-based supplements are projected to account for 48.0% of global share by the end of 2024. These product forms are available in a variety of formulas by age, sex, or by specific nutritional requirements.

Product & Ingredients Insights

Tablets segment dominated the market, accounting for 45.2% of dietary supplements market share in 2015. Rising importance of microencapsulation in nutraceuticals industry to ensure the controlled release of finished ingredients coupled with maintaining the color characteristics is expected to force supplements manufacturers to use capsule dosage forms.

The global demand in powdered form is set to witness a CAGR of 10.8% from 2016 to 2024 on account of the rising market for energy-mix powders among athlete and bodybuilders. Furthermore, Dietary supplements manufacturers including Amway introduced powder products under the name, NUTRILITE, which can be consumed along with milk products and drinks.

Amino acids, omega 3 and vitamin supplements are also available in the form of liquids. Over the past few years, the healthcare manufacturers including GSK and Pfizer have been increasing spending on manufacturing dietary supplements in the form of fluids to their consumer bases.

Botanical derived dietary forms are expected to remain one of the fastest growing segments on account of rising concerns over the side-effects associated with the consumption of synthetic supplements. Also, the rising importance of Ayurveda in health nutritional source on account of being supplements with zero-side effect is expected to open new markets for botanicals.

End-use Insights

Adults accounted for 55.5% of total revenue in 2015. Growing demand for nutritional supplements among sports athletes as well as working professionals is expected to increase the application in adults’ segment.

Children segment is projected to foresee the fastest growth at a CAGR of 10.0% from 2016 to 2024. Application growth of vitamin supplements among children for providing tissue and bone repair; healthy skin, and immune responses is expected to have a substantial impact.

Application Insights

Additional supplements sector dominated the market regarding market share, accounting for 39.4% of global demand in 2016.  Multivitamin products in the form of tablets and capsules are majorly used as additional dietary supplements. Moreover, these supplements are consumed to maintain a healthy lifestyle and keeping the nutrition level on a daily basis is expected to propel the demand for the product over the forecast period.

Sports nutrition sector accounted for 12.7% of global dietary supplements market volume in 2016, owing to their high consumption by sportsmen, athletes, bodybuilders, and the patients. Moreover, availability of sports nutrition products in supermarkets and convenience stores is expected to spur the market demand owing to exposure to a broader market including lifestyle and recreational users.

Regional Insights

The Asia Pacific accounted for 35.4% of global dietary supplements market in 2016 raising awareness towards nutritional enrichment in China and India is expected to remain a favorable factor for the market.

Increasing market size for functional foods in major markets of Germany, UK, France, and Italy on account of the ease of incorporation of nutritional ingredients is expected to pose a substitutional threat to dietary supplements industry over the forecast period.

North America is expected to witness an increase in growth over the forecast period owing to the shift of interest among millennials and adults. High adoption rates for herbal medicines among individuals located in the U.S. and Canada on account of rising concerns over hazardous effect associated with conventional pharma drugs are expected to expand the market size over the forecast period.

Dietary Supplements Market Share Insights

The dietary supplements market is highly fragmented in nature as a result of the presence of numerous small and large-scale vendors, specifically in the Japan, U.S., and China. The market is influenced by various key players such as Amway, Abbott Laboratories, Glanbia, Archer Daniels Midland, GlaxoSmithKline, and DuPont.

Significant players depend on strategies, for example, joint ventures mergers, and acquisitions to raise their market presence. The vendors in the market compete on a different basis such as quality, innovation, service, reputation, promotion, and strategic initiatives. They also focus on increasing their profitability through R&D activities and product innovation. Therefore, the vendors are required to distinguish their product and service offerings through clear and unique value propositions.

In April 2016, Amway launched a new sports nutrition line and continued its expansion into the sports and performance nutrition market. In January 2016, Pfizer acquired Treerly and its family products from Sirio Pharma. Treerly was one of the major healthcare brands in the retail channel of China and has a vast range of products designed for women’s nutritional healthcare.

Report Scope

Segments covered in the report

This report forecasts volume and revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global dietary supplements market report on the basis of ingredient, product, application, end-use and region:

• Ingredient Outlook (Revenue, USD Million; 2013 - 2024)

  • Botanicals

  • Vitamins

  • Minerals

  • Amino Acids

  • Enzymes

  • Others

• Product Outlook (Revenue, USD Million; 2013 - 2024)

  • Tablets

  • Capsules

  • Powder

  • Liquids

  • Soft Gels

  • Gel Caps

• Application Outlook (Revenue, USD Million; 2013 - 2024)

  • Additional Dietary Supplements

  • Medicinal Dietary Supplements

  • Sports Nutrition

• End-Use Outlook (Revenue, USD Million; 2013 - 2024)

  • Infants

  • Children

  • Adults

  • Pregnant Women

  • Old-Aged

• Regional Outlook (Revenue, USD Million; 2013 - 2024)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa