Dietary Supplements Market Size, Share & Trends Analysis Report by Ingredient (Vitamins, Minerals), By Form, By Application, By End User, By Distribution Channel, By Region, and Segment Forecasts, 2020 - 2027

Report Overview

The global dietary supplements market size was estimated at USD 123.28 billion in 2019 and is projected to expand at a CAGR of 8.2% during the forecast period. Factors, such as rising health concerns and the changing lifestyles and dietary habits have been driving the product demand. Positive outlook toward the sports nutrition market is also among major driving factors. An increase in the number of global sports events encourage athletes to focus on physical strength. A rise in the number of sports complexes and gymnasiums is also expected to drive the demand for dietary supplements.

Rapid urbanization and rise in disposable income along with growing awareness regarding health issues are the factors expected to propel the market growth over the forecast period. Favorable outlook toward medical nutrition on account of rising prevalence of cardiovascular diseases and the number of weight management programs is expected to propel the demand for dietary supplements in the forthcoming years.

Dietary supplements help lead a healthier life by providing the essential nutrients needed for a healthy body. Malnutrition of infants is a major crisis across the developing countries. This factor is anticipated to create growth opportunities for the market players, especially across the untapped markets of African and Asian countries. However, the market for this age group is forecasted to expand at the lowest CAGR. Encouragement to breastfeeding over dietary supplements may also hamper the demand to an extent.

The rising importance of e-commerce portals as a selling medium for nutraceutical manufacturers on account of providing access to products through key benefits including favorable discounts and cash-on-delivery features is expected to open new avenues over the next eight years. The U.S. Food and Drug Administration (FDA) imposed numerous regulations regarding labeling the food supplements in light of increasing incidences of violations regarding label standards as well as product quality. As a result, dietary supplement manufacturers are expected to increase expenditure for the development of goods with better quality over the forecast period.

Asia Pacific was the second largest market, accounting for 29.4% of the total revenue share in 2019. Rising sales of royal jelly, green juice, blueberries, black vinegar, and chlorella in Japan owing to increasing demand for natural products is expected to propel the growth over the forecast period. New product launches by Amway and GSK aimed at weight management among athletes are expected to further fuel the growth. However, rising demand for organic food is expected to remain a factor hampering the expansion of the dietary supplements market in the forthcoming years.

Ingredient Insights

In terms of ingredients, the market is categorized into vitamins, minerals, botanicals, proteins and amino acids, omega fatty acids, and fibers and specialty carbohydrates. Vitamin was the majorly used ingredient for the formation of dietary supplements, accounting for 32.1% of total market share in 2019 because of its ability to be easily excreted by kidneys. These products are expected to find more applications among working professionals and sports athletes in the form of multivitamin tablets, powders, and liquids.

Rising demand for herbs for the prevention of mental as well as physical disorders is anticipated to boost the botanicals segment over the forecast period. Furthermore, rising concerns over the adverse effects of conventional medicines including allopathic drugs are expected to promote the use of botanical extracts as ingredients for dietary supplements.

Fibers are indigestible substances and help lower cholesterol levels, reduce weight, and stabilize blood sugar, cholesterol, and glucose levels. All these factors are expected to surge the demand for fiber products over the forecast period.

Application Insights

Energy and weight management, general health, bone and joint health, immunity, gastrointestinal health, immunity, cardia health, diabetes, and anti-cancer are the major application segment of the market for dietary supplements. Energy and weight management accounted for the largest market share of 30% in 2019, owing to the rising trend of online weight loss programs and government initiatives for promoting a healthy diet.

Rising prevalence of chronic diseases, such as arthritis, cardiovascular problems, and diabetes as well as the advantages associated with plant-extracted drugs over synthetic drugs are factors expected to drive the market over the forecast period. The rising geriatric population has created various opportunities for product manufacturers as most people at this age cannot meet their Recommended Dietary Allowances (RDA) due to insufficient nutrient intake which results in driving the demand for dietary supplements for the elderly.

Growing consumer awareness regarding the maintenance of good gut health coupled with a high prevalence of digestive health issues is expected to drive the demand for digestive health products over the forecast period. Introduction of new delivery forms, scientific evidence to support the claims along with increased consumer awareness is expected to further fuel the product sale in the forthcoming years.

End User Insights

Based on end user, the market is segmented into adults, geriatric, pregnant women, children, and infants. Adults were the major consumer segment and accounted for a market share of 47.8% in 2019. Rising awareness regarding fat reduction and increasing focus on enhancing nutrition intake is expected to promote the segment growth over the upcoming years.

Rising use of dietary supplements for nutritional enrichment for pregnant women is expected to help the segment register a CAGR of 7.4% during the forecast period. Ingredients including folate, prenatal multivitamin, vitamin D3, magnesium are majorly used to produce dietary supplements aimed for pregnant women. However, the growing importance of infant formula fortified with nutritional content on account of new product launches by baby food manufacturers like FrieslandCampina and Arla Foods is expected to limit the usage of these products.

Distribution Channel Insights

OTC segment held the dominant market share in 2019, accounting for a revenue share of over 73.4%. Growing demand for the products specifically targeted at skin health, personal care, and digestive health is expected to positively influence the growth. The growing popularity of food for special medical purposes, primarily targeting consumers with issues ranging from infertility to malnutrition is expected to have a significant impact on the prescribed supplements industry. This segment is expected to expand at a CAGR of 10.2% during the forecast period.

The product sales are highly concentrated in large hypermarkets and supermarkets, with OTC products contributing over half of the total sales in developed economies. These stores are focusing on including products that customers recognize and trust. In a typical supermarket or a hypermarket, a detailed consumer sentiment analysis is conducted to understand consumer preferences pertaining to products and brands, and their willingness to pay premium prices for specific products.

Form Insights

Tablet is the most used type of dietary supplements owing to the cost effectiveness and easy packaging techniques. Tablets are highly preferred owing to their extended shelf life and easy material packing into a given space. The segment contributed approximately 34.9% of the total market share and is expected to lose its share to the capsules and soft gel segment owing to its bitter taste and the presence of lubricants that are not suitable for consumption.

Powder forms are expected to account for 12.9% of total market share by 2027 owing to the increasing demand for energy-mix powders among athletes and bodybuilders. Furthermore, dietary products manufacturers including Amway introduced powder products under the name, NUTRILITE, which can be consumed along with drinks as well as milk products. Therefore, the powder segment is expected to capture some of the markets for functional foods over the forecast years. Soft gels and gel caps product forms are expected to find the application on account of their convenience preposition at retail stores.

Rising popularity of organic products among millennials has increased the demand for the powder segment as it can easily be consumed with beverages and other food products. The segment is expected to ascend at a CAGR of 8.1% over the forecast years.

Regional Insights

Rising demand for sports nutrition products on account of the increasing importance of active lifestyle along with growing awareness regarding the benefits of protein intake is expected to play a crucial role in promoting the use of dietary supplements in the North America. The region accounted for over 38% of total market share in terms of revenue in 2019 and is projected to witness growth on account of increasing product use with reduced calorie level and high nutritional content. In Mexico, increasing awareness regarding the advantages of nutritional products on account of new product launches is expected to promote the application scope in near future.

Furthermore, growing consciousness regarding the consumption of proteins for maintaining the muscle mass and sustaining optimum nutrition levels among middle-aged adults in developed countries including the U.S. and Canada is expected to surge the product demand over the upcoming years.

Rising awareness about the importance of a healthy diet in countries like China and India is expected to remain a favorable factor for Asia Pacific. Furthermore, expansion in the retail sector in emerging markets including India, Indonesia, China, and Malaysia in light of regulatory support to promote investments along with the government initiatives is expected to boost the regional demand over the forecast years.

In Europe, rising protein consumption in developed countries, such as Germany and U.K. is expected to promote the usage of amino acids for the production of dietary supplements. In addition, rising sales of multivitamin products particularly, vitamin B and C in light of their increasing adoption among working population and bodybuilders is expected to have a strong impact on the growth in the near future.

Dietary Supplements Market Share Insights

Rising awareness about vegan supplementation owing to increasing concerns over cardiovascular hazards associated with animal nutrition is expected to trigger new investments by product manufacturers. Over the past few years, manufacturers like Glanbia have been investing in the R&D for new plant-based protein supplements which is expected to create new opportunities over the forecast period.

The competitive landscape is characterized by the presence of key international players, such as Amway; Abbott Laboratories; Arkopharma Laboratoires Pharmaceutiques; Bayer; Glanbia; Pfizer; Archer Daniels Midland; Carlyle Group; NBTY Inc.; Nu Skin Enterprises; GlaxoSmithKline; Herbalife International; Nature’s Sunshine Forms; and Bionova Lifesciences.

Strategic divestments, mergers and acquisitions, and new product launches were the key strategies implemented by the manufacturers to expand their customer base. For instance, Glanbia acquired Body & Fit in the Netherlands with the aim to ensure a direct presence in the swiftly growing direct-to-customer channel in 2017.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at a global, regional, and country level and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global dietary supplements market report based on ingredient, form, application, end user, distribution channel, and region:

• Ingredient Outlook (Revenue, USD Million, 2016 - 2027)

  • Vitamins

  • Botanicals

  • Minerals

  • Proteins & Amino Acids

  • Fibers & Specialty Carbohydrates

  • Omega Fatty Acids

  • Others

• Form Outlook (Revenue, USD Million, 2016 - 2027)

  • Tablets

  • Capsules

  • Soft gels

  • Powders

  • Gummies

  • Liquids

  • Others

• Application Outlook (Revenue, USD Million, 2016 - 2027)

  • Energy & Weight Management

  • General Health

  • Bone & Joint Health

  • Gastrointestinal Health

  • Immunity

  • Cardiac Health

  • Diabetes

  • Anti-cancer

  • Others

• End user Outlook (Revenue, USD Million, 2016 - 2027)

  • Adults

  • Geriatric

  • Pregnant Women

  • Children

  • Infants

• Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)

  • OTC

  • Prescribed

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • 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