North America Dietary Supplements Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Vitamins, Minerals, Proteins and Amino Acids, Probiotics, Blends, and Others), Form (Tablets, Capsules and Softgels, Powders, and Others), and Distr

North America Dietary Supplements Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Vitamins, Minerals, Proteins and Amino Acids, Probiotics, Blends, and Others), Form (Tablets, Capsules and Softgels, Powders, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)

The North America dietary supplements market is expected to grow from US$ 63,435.76 million in 2021 to US$ 90,428.79 million by 2028; it is estimated to grow at a CAGR of 5.2% from 2021 to 2028. The increasing geriatric population improved medical facilities, rising obesity cases, and the surge in the number of insured people has resulted in an increase in healthcare expenditure. According to the United Nations, in 2019, millions of people were aged 65 and up across the region. The geriatric population is expected to increase to 1.5 billion by 2050. The proportion of individuals aged 65 and above climbed from 6% in 1990 to 9% in 2019, thereby increasing the spending in the healthcare sector. According to the American Medical Association (AMA), healthcare expenses are increasing at a rate of around 4.5% every year. The healthcare spending in the US climbed by 4.6% in 2019 to US$ 3.8 trillion. This growth rate is similar to 2018 (4.7%) and moderately faster than 2017 (4.3%). This ongoing rise in healthcare expenditure has forced people for opting health supplements to keep themselves fit, thereby creating new opportunities for dietary supplements across the North America region.

In North America, the US was the worst impacted country during the COVID-19 pandemic. The significant disruption in manufacturing facilities, along with raw material sourcing, has had a negative impact on the demand for dietary supplements in the country. However, the growing consumer focus on health and wellbeing is promoting the demand for dietary supplements in the regional market. For instance, as per an article published by National Center for Biotechnology Information (NCBI), the presence of poor nutritional dietary patterns, along with the presence of pre-existing noncommunicable diseases (NCDs) such as diabetes, chronic lung diseases, and cardiovascular diseases (CVDs), has made the patient immunocompromised. Hence, it has been essentially recommended to consume approximately 25-38 g/day of dietary supplements to build immunity and strength to fight against foreign microbes, thereby promoting the demand for dietary supplements in the region.

Based on type, the vitamins segment led the North America dietary supplements market in 2020. Vitamins are compounds that human bodies require for appropriate development and functioning. Some common vitamins include A, C, D, E, K, choline, and the B vitamins (thiamin, riboflavin, niacin, pantothenic acid, biotin, vitamin B6, vitamin B12, and folate/folic acid). Further, there has been a rise in the demand for vitamins due to the growing need for energy and weight management among working professionals and athletes. The deficiency of vitamin A, B, C, and E is becoming increasingly prevalent. As a result, consumers are turning to vitamins supplements to meet their daily vitamin requirements, aiding the growth of this segment. Multivitamins are available in various forms, such as liquid, tablets, and powder, which can be consumed by people of all ages.

The overall North America dietary supplements market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the North America dietary supplements market. The process also serves the purpose of obtaining overview and forecast for the North America dietary supplements market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, and to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America dietary supplements market. Abbott; Amway Corp.; anona GmbH; Bayer AG; GlaxoSmithKline plc.; Otsuka Holdings Co., Ltd; Pfizer Inc.; and The Bountiful Company are a few key players operating in the North America dietary supplements market.

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