Dietary Supplements Market Size, Share & Trends Analysis Report By Ingredient (Vitamins, Botanicals), By Form (Tablets, Soft gels), By End-user, By Application, By Type, By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030

Dietary Supplements Market Size, Share & Trends Analysis Report By Ingredient (Vitamins, Botanicals), By Form (Tablets, Soft gels), By End-user, By Application, By Type, By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030

Dietary Supplements Market Growth & Trends

The global dietary supplements market size is anticipated to reach USD 327.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 9.0% from 2023 to 2030. There is growing awareness and interest in health and wellness among consumers. As people become more health-conscious and seek ways to improve their overall well-being, they are turning to dietary supplements as a convenient and accessible means to meet their nutritional needs. The desire for better nutrition, increased energy, weight management, and support for specific health goals such as immune system enhancement or joint health has fueled demand for a wide range of supplements.

In addition to general health and wellness concerns, the aging population in many parts of the world has contributed significantly to the market's growth. As individuals age, they often require additional nutrients to address age-related health issues such as bone density loss or cognitive decline. This demographic shift has led to a surge in demand for supplements targeting specific age-related health concerns.

Regulatory changes have also played a role in shaping the market. In some regions, regulatory agencies have implemented stricter quality control standards, labeling requirements, and safety regulations, which have helped build consumer trust in the industry. These regulations have encouraged reputable manufacturers to invest in research, development, and product quality, while also weeding out unscrupulous players.

The market is highly competitive, with numerous companies vying for market share. As a result, there is a constant influx of new products and innovations, including personalized supplements tailored to individual health needs and preferences. This innovation has maintained the market dynamic and is responsive to evolving consumer demands.

In February 2022, Amway India introduced a new range of nutrition supplements under its Nutrilite brand. The products, including gummies and jelly strips, are designed to meet the nutritional needs of busy millennials. The range includes supplements for overall health and immunity, bone health, and eye health.

Dietary Supplements Market Report Highlights

• In terms of ingredient, the vitamins segment held the largest market share of 30.20% in 2022. These dietary supplements are available in multiple forms, including vitamin A (retinols and carotenoids), B (folic acid), C (ascorbic acid), and D (cholecalciferol). Vitamin A helps maintain eye health and the immune system, whereas vitamin E helps repair DNA and strengthen the immune system
• Based on form, the liquid segment is projected to grow at the fastest CAGR of 12.2% from 2023 to 2030. A liquid dietary supplement is a liposomal product that is evenly dispersed in water for smooth consumption. This allows the blending of liquid dietary supplements in yogurt, water, smoothies, and energy drinks. Liquid dietary supplements are easily digestible and are preferred by adults and Gen X, owing to which its demand is expected to remain high over the forecast period
• Based on application, the energy and weight management segment held the largest market share of 30.46% in 2022. The demand for dietary supplements containing proteins and vitamins is widely influenced by sports enthusiasts. These products help athletics restore energy, improve muscular endurance, and minimize body wear & tear
• Based on end-user, the infants segment is projected to grow at a CAGR of 11.7% from 2023 to 2030. Increasing research & development activities in terms of infant nutrition on account of rising consumption of breast milk substitutes, which closely resemble the functionality and composition of breast milk, are anticipated to drive the segment growth over the forecast period.
• Based on type, the OTC segment held the largest revenue share of 75.60% in 2022. OTC sales of dietary supplements are anticipated to witness steady growth because of rising consumer awareness regarding the nutritional value and health benefits of these products. Self-medication for treating gastrointestinal and immunity-related issues is another key factor driving the demand for OTC dietary supplements. The convenience of direct purchases and cost-effectiveness are expected to promote the sales of these dietary supplements.
• In terms of distribution channel, the online segment is projected to grow at the fastest CAGR of 9.7% from 2023 to 2030. The sales of dietary supplements through the online distribution channel are expected to witness the highest growth in the coming years. Increased internet users, ease of access to numerous brands, fast-paced lifestyles of the masses, 24/7 availability of products, convenience of shopping, and a wide range of products offered are factors driving the sales of dietary supplements through online distribution channels.
• Based on region, Europe is expected to witness a growth rate of 7.0% over the forecast period. The prevalence of lactose intolerance and obesity in Europe has increased the demand for probiotic health supplements.

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