Dietary Supplements Market by Function (Anti-cancer, Bone & Joint Health, Cardiac Health), Product (Calcium, Combination Dietary Supplement, Eye Health Supplement), Formulation, Distribution, End User - Global Forecast 2024-2030

Dietary Supplements Market by Function (Anti-cancer, Bone & Joint Health, Cardiac Health), Product (Calcium, Combination Dietary Supplement, Eye Health Supplement), Formulation, Distribution, End User - Global Forecast 2024-2030

The Dietary Supplements Market size was estimated at USD 105.13 billion in 2023 and expected to reach USD 111.94 billion in 2024, at a CAGR 6.60% to reach USD 164.48 billion by 2030.

Dietary supplements are consumed to supplement the diet and contain dietary ingredients, including vitamins, minerals, herbs, or other botanical extracts. The primary purpose of dietary supplements is to provide nutrients that may not be consumed in adequate quantities in a person's diet. The demand for dietary supplements is increasing due to growing awareness of health and wellness, a growing elderly population, and the need to adopt a more holistic approach to healthcare. Moreover, the surging incidences of chronic diseases and the recognition of certain deficiencies linked to lifestyle and dietary habits further propel the consumption of dietary supplements. However, the prevalence of counterfeit products and the volatility of raw material costs may adversely impact the consumption of dietary supplements. Moreover, the proliferation of eCommerce has provided a substantial opportunity to the dietary supplements market, offering consumers convenient access to a broad spectrum of products.

Regional Insights

The dietary supplement market is growing in the Americas, mainly attributed to higher health awareness and income levels, particularly in the United States and Canada. A diverse range of supplements catering to different health needs, such as vitamins, minerals, botanicals, enzymes, and proteins, can be found in specialty health stores, supermarkets, and online platforms in the Americas. Europe's dietary supplement market is characterized by a robust regulatory framework enforced by the European Food Safety Authority (EFSA), focusing on consumer safety and product efficacy. The EMEA region shows a high demand for supplements promoting general well-being alongside specialty niches such as sports nutrition. The Asia-Pacific region is burgeoning for dietary supplement growth, encouraged by rising disposable incomes, urbanization, and increased health awareness, especially in China, Japan, and India. Traditional herbal and botanical products, alongside modern supplement varieties, are mainly in APAC. Moreover, cultural inclinations toward preventive healthcare contribute to the robust market prospects in the APAC region.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Dietary Supplements Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Huge Base of Aging Population and Changing Lifestyle
    • Rise of Self-Directed Consumers and Demand Among Athletes
    • Increased Consumer Awareness for Preventative Healthcare
    • Market Restraints
      • Noticeable Incidences of a Product Recall and Adverse Reactions of Dietary Supplement without Prescription
      • Market Opportunities
        • Inclination towards Plant-Extracted Herbal Products
        • Rising Availability due to Growing E-Commerce Industry
        • Adoption of the Private Label through Innovative Branding and Formulations
        • Market Challenges
          • Regulatory Pressure around Manufacturing, Product Safety, and Efficacy Claim
          • Market Segmentation Analysis
            • Function: Significant use to maintain bone & joint health
            • Formulation: Increasing penetration of dietary supplement tablets
            • Distribution: Growing availability of dietary supplements on online channels
            • End User: Extensive demand for dietary supplements for elderly population
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Dietary Supplements Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Dietary Supplements Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Now launches dietary supplement for relaxation, focus and cognitive optimization
              
              Now Foods has launched a new dietary supplement to enhance relaxation, focus, and cognitive optimization. This supplement contains key ingredients, including KSM-66 Ashwagandha root extract, Suntheanine L-Theanine, and Acetyl L-Carnitine. This innovative dietary supplement offers a reliable solution for individuals striving to enhance their mental well-being and cognitive capabilities.
              
              Evolva and Lehvoss Sign Agreement For Resveratrol Ingredient Distribution In Europe
              
              Evolva and Lehvoss have entered into an agreement to distribute Resveratrol-based dietary supplements throughout Europe. Resveratrol, a natural ingredient derived from sustainable agricultural sources, is highly sought after for its widely recognized health benefits. This partnership exemplifies Evolva's dedication to product innovation and the distribution of cutting-edge health products.
              
              Dr Reddy’s Launches Nutritional Gummies To Expand Neutraceutical Portfolio
              
              Dr. Reddy's Laboratories has introduced Nutritional Gummies as part of its expanding dietary supplement range. These gummies are designed to provide enhanced health benefits by ensuring optimal absorption in the body. With their unique formulation and accessibility, Nutritional Gummies offer a suitable method to supplement your diet and support your overall well-being.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Dietary Supplements Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Dietary Supplements Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, American Health, Amway Corporation, Archer-Daniels-Midland Company, ARKOPHARMA Laboratories, Company Limited, Bayer AG, Biomedical Research Laboratories, LLC, DuPont de Nemours, Inc., Dymatize Enterprises LLC, FANCL Corporation, Glanbia PLC, GlaxoSmithKline PLC, Herbalife Nutrition Ltd., Himalaya Wellness Company, Nature’s Sunshine Products, Inc., Nestlé S.A, Nutraceutical International Corporation, NutraScience Labs, Otsuka Holdings Co. Ltd., Pfizer Inc., Pragati Biocare Pvt. Ltd.,, Procter & Gamble Health Limited, Pure Encapsulations, LLC., Sabinsa Corporation, Sanofi S.A., Suntory Group, Taisho Pharmaceutical Co., Ltd., and UST Corp..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Dietary Supplements Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Function
              • Anti-cancer
              • Bone & Joint Health
              • Cardiac Health
              • Diabetes
              • Energy & Weight Management
              • Gastrointestinal Health
              • General Health
              • Immunity
              • Product
                • Calcium
                • Combination Dietary Supplement
                • Eye Health Supplement
                • Fish Oil & Omega Fatty Acid
                • Ginseng
                • Herbal Supplement
                • Mineral
                • Probiotic
                • Protein
                • Vitamin
                • Formulation
                  • Capsules
                  • Liquid
                  • Powder
                  • Softgels
                  • Tablets
                  • Distribution
                    • Online Channel
                    • Pharmacy & Drug Store
                    • Supermarket & Hypermarket
                    • End User
                      • Adult
                      • Children & Infant
                      • Geriatric
                      • Pregnant Women
                      • Region
                        • Americas
                          • Argentina
                          • Brazil
                          • Canada
                          • Mexico
                          • United States
                            • California
                            • Florida
                            • Illinois
                            • New York
                            • Ohio
                            • Pennsylvania
                            • Texas
                            • Asia-Pacific
                              • Australia
                              • China
                              • India
                              • Indonesia
                              • Japan
                              • Malaysia
                              • Philippines
                              • Singapore
                              • South Korea
                              • Taiwan
                              • Thailand
                              • Vietnam
                              • Europe, Middle East & Africa
                                • Denmark
                                • Egypt
                                • Finland
                                • France
                                • Germany
                                • Israel
                                • Italy
                                • Netherlands
                                • Nigeria
                                • Norway
                                • Poland
                                • Qatar
                                • Russia
                                • Saudi Arabia
                                • South Africa
                                • Spain
                                • Sweden
                                • Switzerland
                                • Turkey
                                • United Arab Emirates
                                • United Kingdom
                                
                                
                                Please Note: PDF & Excel + Online Access - 1 Year