Insights into the Global Dietary Supplements Market

Overview

Global dietary supplements market size is expected to be worth around USD 306 billion by 2033, from USD 156 billion in 2023, growing at a CAGR of 7.0% during the forecast period from 2023 to 2033.

As a market research analyst, the dietary supplements market refers to the industry that produces and sells products designed to supplement a person's diet. These supplements include vitamins, minerals, herbs, amino acids, and other substances that are taken orally. They come in various forms such as pills, capsules, powders, and liquids. People use dietary supplements to add nutrients that may be missing from their regular diet or to promote overall health and wellness.

The market for dietary supplements has grown significantly as more people become health-conscious and seek ways to improve their well-being. Factors driving this growth include increasing awareness about preventive health measures, aging populations looking for ways to maintain health, and lifestyle trends focusing on fitness and wellness. 

Market research in this field involves analyzing consumer preferences, studying product trends, assessing regulatory environments, and forecasting demand. Understanding these dynamics helps businesses in the dietary supplements market to develop effective marketing strategies and innovate new products that cater to evolving consumer needs.

Key Market Segments

Based on Type

• Botanicals

• Vitamins

• Minerals

• Amino acids

• Probiotics

• others

Based on Form

• Tablets

• Capsules

• Soft gels

• Powders

• Gummies

• Liquids

• Others

By Function

• Additional Supplements

• Medical Supplements

• Sports Nutrition Supplements

• Others

By Application

• Energy & Weight Management

• General Health

• Bone & Joint Health

• Gastrointestinal Health

• Immunity

• Cardiac Health

• Diabetes

• Anti-cancer

• Lungs Detox/Cleanse

• Skin/ Hair/ Nails

• Sexual Health

• Brain/Mental Health

• Insomnia

• Menopause

• Anti-aging

• Prenatal Health

• Others

By End-use

• Infants

• Children

• Adults

• Pregnant Women

• Others

By Distribution Channel

• Online

• Offline

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In 2023, vitamins dominated the Ready Meals market with a 34.5% share, driven by increasing consumer awareness of nutritional deficiencies and demand for convenient, nutrient-rich food.

Tablets held a significant market share of 21.2% in 2023, favored for their convenience, ease of use, and precise dosage in the Ready Meals sector.

Additional Supplements captured 34.4% of the market in 2023, appealing to consumers seeking meals with added nutritional benefits.

Energy & Weight Management accounted for 32.4% of the market in 2023, reflecting consumer interest in balanced nutrition and effective weight control through ready meals.

Infants secured a 34.5% share in 2023, driven by demand for convenient, nutritious meals tailored to young children's dietary needs.

Offline channels dominated with a 78.3% share in 2023, led by traditional retail outlets such as supermarkets and convenience stores, favored for their accessibility of ready meals.

Market Key Players

• Amway Corp.

• Abbott

• Bayer AG

• Glanbia plc

• Pfizer Inc.

• Archer Daniels Midland

• NU SKIN

• GlaxoSmithKline plc.

• Herbalife Nutrition Ltd.

• Nature’s Sunshine Products, Inc.

• XanGo, LLC

• RBK Nutraceuticals Pty Ltd

• American Health

• DuPont de Nemours, Inc.

• Good Health New Zealand

• Nature’s Bounty

• NOW Foods

Driving Factors: The global dietary supplements market is propelled by increasing consumer focus on preventive healthcare measures and rising living standards. Urbanization and higher disposable incomes further drive market growth, as more individuals become aware of health issues and seek nutritional supplements to maintain wellness.

Restraining Factors: A major challenge for the dietary supplements market is the high cost associated with research, development, and production. Stringent health regulations and labeling laws also pose obstacles, potentially limiting market expansion. Additionally, the premium pricing of supplements may deter widespread adoption, particularly in cost-sensitive markets.

Opportunities: There are significant growth opportunities in the dietary supplements market driven by increasing health awareness and a growing global population. Innovations in breastfeeding and personalized supplements present new avenues for market expansion. Moreover, rising interest in fitness and gyms among consumers supports the demand for specialized nutritional products.

Challenges: One of the challenges facing the dietary supplements market is the need to address consumer concerns about product safety and quality. Additionally, navigating diverse regulatory landscapes across different regions poses complexities for market players. Adapting to evolving consumer preferences towards natural and organic products also presents a challenge for traditional supplement manufacturers.