Over the last decade, the consumption of dietary supplements has witnessed a discernible rise in both developed and developing nations. The market for dietary supplements embodies a broad spectrum of natural as well as synthetic products with applications in industries for instance, personal care, food and beverages, cosmetics, and others. A recent study by IPSOS and The Council for Responsible Nutrition (CRN) on the US population found that close to 74% American adults in 2023 consume such supplements, with 55% using them regularly. The market is being mainly influenced by the awareness to address nutritional deficiencies, promote healthy lifestyles and overall wellbeing.
Wissen Research analyses that the global dietary supplements market is estimated at ~USD 140 billion in 2023 and is projected to reach ~USD 235 billion by 2030, expected to grow at a CAGR of ~7.0% during the forecast period, 2023-2030.
Driving Factor: Rising Interest in Mood and Sleep Support Supplements
With the growing emphasis on mental wellness and importance of sleep on physical and mental wellbeing, the mood and sleep supporting supplements has witnessed continuous growth in product launches such as, magnesium, melatonin, tryptophan and others, in the past few years. It is worth mentioning that the rising stress levels among young populations and exposure to smart devices will drive the adoption of such supplements in the coming years.
Opportunity: Increasing Shift towards Traditional Natural Products
Use of botanical / herbal dietary supplements has emerged as a popular alternative supplements. This can be attributed to the fact that botanical supplements appear to be effective and safer option compared to other dietary supplements with minimal risk of side effects.
Challenge: Growing Influx of Counterfeit / Fake Supplements in the Market
Rising influx of unauthorized dietary supplements in the market has posed a significant challenge for the original producers which has further resulted into the growing consumer distrust over these products.
The dietary supplements market report offers information on the latest advancements in the industry, as well as product portfolio analysis, supply chain/value chain analysis, market share, and the effects of localized and domestic players. It also analyzes potential revenue opportunities and changes in market regulations, as well as market size, category market growth, application dominance, product approvals, product launches, geographic expansions, and technological innovations. For an Analyst Brief and other information on the dietary supplements market, get in touch with Wissen Research. Our staff can assist you in making well-informed decisions that will lead to market expansion.
Botanical dietary supplements are anticipated to grow at highest rate within the dietary supplements market by product type
The dietary supplements market is segmented into vitamins, botanical, minerals, amino acids, fatty acids, probiotics and other types, based on type of product. Owing to their natural origin and effective healing qualities, the herbal / botanical based supplements demand is anticipated to increase at a noticeable yearly rate during the forecast period.
Tablets captured majority share of dietary supplements market by dosage form
Capsules, tablets, powers, gels, gummies, liquids, and other forms are the key segments that the dietary supplements are available in. In 2024, the tablets segment captures the largest share out of all these product types. This can be attributed to the fact that tablets are easy to ingest with fixed amount of active ingredients, therefore, ensuring controlled intake of dietary supplements.
North America to dominate the current dietary supplements market and Asia-Pacific to witness the highest growth
Currently, North America is expected to hold the largest portion of total dietary supplements market and this trend is likely to remain the same in the coming decade. Key elements supporting this trend in the region include rising elderly population, high rate of lifestyle related illnesses and growing healthcare costs, all of which are anticipated to fuel growth in North America.
Asia Pacific is expected to experience the highest growth among all region during the forecast period owing to increasing awareness about health supplements a d disposable income. Further, due to the presence of variety of ayurveda based remedies / products the stakeholders are likely to invest on research and development for the production of new effective products in this region.
Major Companies and Market Share Insights
Major players operating in dietary supplements market are Nestle SA, Abbott, Amway, Pfizer, Archer-Daniels-Midland Company, Otsuka Pharmaceutical Co. Ltd., Glanbia plc, Herbalife Ltd., Bayer AG, Nature’s Sunshine Products Inc. among others. The overall dietary supplements market is consolidated with five key players holding majority share of the total dietary supplements market.
Recent Developments:
Market Definition
Dietary Supplements are products manufactured naturally or synthetically that contains one or more dietary nutrients or their components. These supplements are designed to fill dietary gaps in everyday nutrition, improve health and strengthen immunity for people of different ages and specific requirements.
Key Stakeholders
Key objectives of the Study
Research Methodology
The aim of the study is to examine the key market forces such as drivers, opportunities, restraints, challenges, and strategies of key leaders. To monitor company advancements such as patents granted, product launches, expansions, and collaborations of key players, analyzing their competitive landscape based on various parameters of business and product strategy. Markey sizing will be estimated using top-down and bottom-up approaches. Using market breakdown and data triangulation techniques, market sizing of segments and sub-segments will be estimated.
FIGURE: RESEARCH DESIGN
Collecting Secondary Data
The process of collating secondary research data involves the utilization of secondary sources, databases, annual reports, investor presentations, directories, and SEC filings of companies. Secondary research will be utilized to identify and gather information beneficial for the in-depth, technical, market-oriented, and commercial analysis of the dietary supplements market. A database of the key industry leaders will also be compiled using secondary research.
Collecting Primary Data
The primary research data will be conducted after acquiring knowledge about the dietary supplements market scenario through secondary research. A significant number of primary interviews will be conducted with stakeholders from both the demand and supply side (including various industry experts, such as Vice Presidents (VPs), Chief X Officers (CXOs), Directors from business development, marketing and product development teams, product manufacturers) across major countries of Europe, Asia-Pacific, North America, Latin America, and Middle East. Primary data for this report will be collected through questionnaires, emails, and telephonic interviews.
FIGURE: BREAKDOWN OF PRIMARY INTERVIEWS FROM SUPPLY SIDE
FIGURE: BREAKDOWN OF PRIMARY INTERVIEWS FROM DEMAND SIDE
FIGURE: PROPOSED PRIMARY PARTICIPANTS FROM DEMAND AND SUPPLY SIDE
Market Size Estimation
All major manufacturers offering various dietary supplements will be identified at the global / regional level. Revenue mapping will be done for the major players, which will further be extrapolated to arrive at the global market value of each type of segment. The market value of dietary supplements market will also split into various segments and sub segments at the region level based on:
FIGURE: REVENUE MAPPING BY COMPANY (ILLUSTRATION)
FIGURE: REVENUE SHARE ANALYSIS OF KEY PLAYERS (SUPPLY SIDE)
FIGURE: MARKET SIZE ESTIMATION TOP-DOWN AND BOTTOM-UP APPROACH
FIGURE: ANALYSIS OF DROCS FOR GROWTH FORECAST
FIGURE: GROWTH FORECAST ANALYSIS UTILIZING MULTIPLE PARAMETERS
After arriving at the overall market size-using the market size estimation processes-the market will be split into several segments and sub segment. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub segment, the data triangulation, and market breakdown procedures will be employed, wherever applicable. The data will be triangulated by studying various factors and trends from both the demand and supply sides in the dietary supplements market.
1. Introduction
1.1 Key Objectives
1.2 Definitions
1.2.1 In Scope
1.2.2 Out of Scope
1.3 Scope of the Report
1.4 Scope Related Limitations
1.5 Key Stakeholders
2. Research Methodology
2.1 Research Approach
2.2 Research Methodology / Design
2.3 Market Sizing Approach
2.3.1 Secondary Research
2.3.2 Primary Research
3. Executive Summary & Premium Content
3.1 Global Market Outlook
3.2 Key Market Findings
4. Market Overview
4.1 Market Dynamics
4.1.1Drivers/Opportunities
4.1.2 Restraints/Challenges
4.2 End User Perception
4.3 Need Gap
4.4 Supply Chain / Value Chain Analysis
4.5 Industry Trends
4.6 Porter’s Five Forces Analysis
5. Patent Analysis
5.1 Patents Related to Dietary Supplements
5.2 Patent Landscape and Intellectual Property Trends
6. Global Dietary Supplements Market by, Product Type (2023-2030, USD Million)
6.1 Vitamins
6.1.1 Vitamins Dietary Supplements Market by, Source
6.1.2 Vitamins Dietary Supplements Market by, Dosage Form
6.2 Botanical Dietary Supplements
6.2.1 Botanical Dietary Supplements Market by, Source
6.2.2 Botanical Dietary Supplements Market by, Dosage Form
6.3 Minerals
6.3.1 Minerals Dietary Supplements Market by, Source
6.3.2 Minerals Dietary Supplements Market by, Dosage Form
6.4 Probiotics
6.4.1 Probiotics Dietary Supplements Market by, Source
6.4.2 Probiotics Dietary Supplements Market by, Dosage Form
6.5 Amino Acids
6.5.1 Amino Acids Dietary Supplements Market by, Source
6.5.2 Amino Acids Dietary Supplements Market by, Dosage Form
6.6 Fatty Acids
6.6.1 Fatty Acids Dietary Supplements Market by, Source
6.6.2 Fatty Acids Dietary Supplements Market by, Dosage Form
6.7 Others
7. Global Dietary Supplements Market by, Dosage Form (2023-2030, USD Million)
7.1 Tablets
7.2 Capsules
7.3 Liquids
7.4 Gels
7.5 Powder
7.6 Gummies
7.7 Others
8. Global Dietary Supplements Market by, Target Population (2023-2030, USD Million)
8.1 Infants
8.2 Children
8.3 Adults
8.4 Pregnant Women
8.5 Geriatric
9. Global Dietary Supplements Market by, Target Application (2023-2030, USD Million)
9.1 Immunity
9.2 Stress Management
9.3 Energy
9.4 Skin Health
9.5 Sleep Management
9.6 Sports
9.7 Weight Loss Management
9.8 Others
10. Global Dietary Supplements Market by, Distribution Channel (2023-2030, USD Million)
10.1 Pharmacies
10.2 Supermarkets
10.3 Online
10.4 Others
11. Global Dietary Supplements Market by, Region (2023-2030, USD Million)
11.1 North America
11.1.1 US
11.1.2 Canada
11.2 Europe
11.2 1 Germany
11.2.2. France
11.2.3 Spain
11.2.4 Italy
11.2.5 UK
11.2.6 Rest of the Europe
11.3 Asia-Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 Australia and New Zealand
11.3.5 South Korea
11.3.6 Rest of the Asia-Pacific
11.4 Middle East and Africa
11.5 Latin America
12. Competitive Analysis
12.1 Key Players Footprint Analysis
12.2 Market Share Analysis
12.3 Key Brand Analysis
12.4 Regional Snapshot of Key Players
12.5 R&D Expenditure of Key Players
13. Company Profiles2
13.1 Pfizer Inc.
13.1.1 Business Overview
13.1.2 Product Portfolio
13.1.3 Financial Snapshot3
13.1.4 Recent Developments
13.1.5 SWOT Analysis
13.2 Abbott Nutrition
13.3 Amway Corporation
13.4 Glanbia plc
13.5 Nestle SA
13.6 Otsuka Pharmaceutical Co. Ltd.
13.7 Archer-Daniels-Midland Company
13.8 Herbalife Ltd.
13.9 Bayer AG
13.10 Nature’s Sunshine Products Inc.
14. Conclusion
15. Appendix
15.1 Industry Speak
15.2 Questionnaire
15.3 Available Custom Work
15.4 Adjacent Studies
15.5 Authors
16. References
Key Notes:
