Global Vitamins & Herbal Dietary Supplements Market - 2023-2030

Global Vitamins & Herbal Dietary Supplements Market - 2023-2030

Global Vitamins & Herbal Dietary Supplements Market reached US$ 44.12 billion in 2022 and is expected to reach US$ 71.38 billion by 2030, growing with a CAGR of 6.2% during the forecast period 2023-2030.

The growing threat of various health concerns has led to increased consumer interest in personal health and nutrition. Manufacturers are incorporating various nutrients such as vitamins and minerals in functional foods, resulting in the rapid popularity of these products. Vitamins & herbal dietary supplements help in proving the required daily dietary intake of certain nutrients and provide optimal health to the user.

The rise in the prevalence of lifestyle disorders and chronic diseases is increasing the demand for healthy supplements to maintain a healthy lifestyle. Vitamins & herbal dietary supplements are made from natural sources and provide ultimate health advantages. The increased consumer awareness about the nutritional and healthy benefits of the vitamins & herbal dietary supplements boost their demand in the market.

The launch of new and innovative dietary supplements is gaining global population attention with its health benefits and convenient nature. For instance, in February 2022, Amway India announced the launch of nutrition supplements in the form of gummies and jellies to attract consumers who are looking for on-to-go nutritional supplements. The products are launched under the Nutrilite brand, marking a tasty and convenient way of nutritional supplementation offering.

Dynamics

Growing Health Awareness Among Consumers

The rising health and wellness awareness among the global population positively impacted the market for nutraceuticals such as dietary supplements. Vitamins & herbal dietary supplements are made from various herbs and botanicals adding high-value advantages to the product. The numerous health benefits associated with the consumption of these products help in the wide expansion of the market.

The increasing number of cases of chronic diseases is motivating consumers to adopt additional nutritional support to maintain good health conditions. Dietary supplements are used as complementary medicine to reduce various health risks. Further, with the rapid increase in the aging population, the need for dietary supplements is also increasing to support elderly health.

The vitamins & herbal dietary supplements help in maintaining good health conditions and prevent certain health risks by providing necessary nutrient support. These products are available in various forms such as gels and powders to support medical and additional supplementation of the body. Further, the lifestyle changes and increased affordability of the population fuel the market growth.

New Product Launches Addressing Specific Health Issues

With the increased popularity of dietary supplements, the global population is shifting their dietary preferences and adopting these products to provide alternative nutrient sources to the body. The increasing demand for these among the global population is encouraging manufacturers to invest largely in research and development to produce new and innovative products for consumers. There is a continuous effort by manufacturers to enhance the bioavailability of these products.

Manufacturers are introducing vitamins & herbal dietary supplements with improved formulations and health advantages, targeting specific health conditions. In September 2022, Diabliss, an Indian nutra firm announced the development of ten new herbal water products specializing in improving the overall health of the person by maintaining blood glucose levels and boosting the immune system.

The continuous product innovations are driving the market growth in a positive way, with diverse product availability addressing various deficiencies and health conditions in various age groups. For instance, in October 2022, Revolution, a beauty brand, introduced Hair gummies loaded with vitamins and minerals to maintain healthy hair.

Side Effects Related to Excessive Dietary Supplements Use

The side effects related to the overconsumption of vitamin and herbal supplements can be a major restraining factor in the market growth. The dietary supplements need to be taken at a certain dosage level and high doses can lead to several side effects. Vomiting, nausea and headaches are commonly observed in the excess consumption of certain vitamin and mineral supplements.

The high doses of certain nutrients can lead to severe health effects. For instance, excessive intake of Vit-A supplements can result in health issues related to the liver. In the case of vitamin D, the toxicity of vitamin D leads to hypercalcemia and symptoms like confusion, whereas vitamin B high dose can lead to depression and panic attacks. The side effects caused due to high-dose consumption of these created a negative public perception in some individuals, hindering the market growth.

Segment Analysis

The global vitamins & herbal dietary supplements market is segmented based on type, form, function, distribution channel, end-users and region.

Increasing Vitamin Deficiencies

The global vitamins & herbal dietary supplements market is segmented based on type into probiotics, enzymes, amino acids, vitamins, minerals and herbal supplements. The vitamin segment of the global market accounted for the largest share due to increasing vitamin deficiencies among the population. Global populations of all age groups are suffering from one or the other vitamin deficiency.

According to UNICEF 2022, vitamin A is the leading cause of preventable childhood blindness. UNICEF stated that two in three children are in need to be protected from Vit A deficiency with high-dose Vit A supplementation. According to the Cleveland Clinic Organization 2022, about 1 billion people globally are deficient in vitamin D, with 50% of cases having vitamin D insufficiency.

Manufacturers are introducing various vitamin dietary supplements to reach the required levels of vitamin supplementation in the body. For instance, in September 2022, Centrum, an American brand of multivitamins, launched the Centrum Multivitamin range in India, offering 4 multivitamin variants produced to meet the requirements of a range of populations differentiated by gender.

Geographical Penetration

Increasing Health Consciousness Among Consumers in North America

North America dominated the global vitamins & herbal dietary supplements market, with U.S. and Canada leading the market growth. According to the United States Federal Reserve, the employment-Population Ratio of U.S. is estimated to be 60.40% as of August 2023. With their busy and hectic lifestyles, people are not met with the required nutritional quantities needed for a healthy lifestyle.

People of this region are widely accepting the use of dietary supplements to meet daily requirements of certain nutrients, that can be obtained with the food products. For instance, according to the survey conducted by U.S. Centers for Disease Control and Prevention, most adults and a third of children accounting for 58.5% and 34.8 % used dietary supplements in 2020.

Likewise, the Council for Responsible Nutrition’s annual Consumer Survey on Dietary Supplements on October 2022, reported that 75 % of U.S. consumers took supplements in 2022. Among this, 46% of males and 53 % of females were supplement users. The increasing demand for dietary supplements positively impacts this region’s market growth.

Competitive Landscape

The major global players in the market include Nestle, Herbalife International of America Inc., Binova Lifesciences, NBTY Inc., Biovencer, Glanbia, Nature Sunshine, Nature's Essentials, Pure Encapsulation and Cargill Inc.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic positively impacted the global vitamins & herbal dietary supplements market. The market primarily experienced the initial challenges of the sudden lockdown declaration and halt in supply chain activities. The distribution channel disruptions also had a negative impact on the market temporarily.

The pandemic improved health consciousness among consumers. Globally, people started adopting dietary supplements to improve their health and immunity systems. The U.S. National Health and Nutrition Examination Survey declared that during the pandemic, more than 50% of the U.S. population was reported to be consuming vitamins and supplements and the demand for the supplements increased by 20% during the pandemic situation.

The increased popularity of dietary supplements resulted in the launch of new and innovative products including nutritive and health-supportive dietary supplements that are produced with exotic herbs and natural ingredients. Further, e-commerce platforms received immense popularity in the lockdown conditions with safe door delivery options. The wide availability of these products in online sales increased the market demand.

Russia- Ukraine War Impact

The Russia-Ukraine war had a negative impact on many industrial sectors, including health and wellness. The war resulted in the supply chain disruption which halted the distribution the vitamins & herbal dietary supplements in the global market. The economic sanctions on various countries and increased commodity prices badly affected the market growth.

Every market including dietary vitamins & herbal supplements, faced disruptions in the import and export trade transitions, creating economic disturbances in the global market. The political and economic uncertainty created due to the war had a negative impact on the vitamins & herbal dietary supplements market.

By Type
• Probiotics
• Enzymes
• Amino Acids
• Minerals
Calcium
Iron
Zinc
Others
• Vitamins
Vitamin A
Vitamin B
Others
• Herbal Supplements
Ginseng
Echinacea
Others

By Form
• Gel Caps
• Soft Gels
• Liquids
• Powders
• Capsules
• Tablets

By Function
• Sports Nutrition
• Medical Supplements
• Additional Supplements

By Distribution Channel
• Pharmacies & Drug Stores
• Supermarket & Hypermarket
• E-Commerce
• Others

By End-Users
• Children
• Adults
• Pregnant Women
• Elderly

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In May 2023, Roquette, a global leader in plant-based ingredients and a leading provider of pharmaceutical and nutraceutical excipients announced the launch of PEARLITOL Pro-Tec, a new excipient for the stability of probiotic supplements.
• In April 2022, the top provider of nutritional supplements, The Bountiful Company's major brands was acquired by Nestle and KKR. The two companies paid USD 5.75 billion to complete the acquisition of Bountiful company.
• In January 2021, Proorganiq, a natural and herbal brand, announced the launch of its new range of pure and potent herbal supplements to support the overall health of a person.

Why Purchase the Report?
• To visualize the global vitamins & herbal dietary supplements market segmentation based on based type, form, function, distribution channel, end-users and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of vitamins & herbal dietary supplements market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global vitamins & herbal dietary supplements market report would provide approximately 77 tables, 85 figures and 234 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies