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The Dietary Supplements Market size is estimated to grow by USD 65.1 billion, at a CAGR of 8.09% between 2023 and 2028. The growing popularity of healthy eating habits is a significant driver of the market. Consumers are increasingly adopting healthy eating habits, including the consumption of whole-grain foods and a balanced and varied diet, which are associated with emotional, physical, and cognitive well-being. Nutritional deficiencies can lead to serious health issues such as heart disease, stroke, obesity, and cognitive decline. This growing awareness of the critical role nutrition plays in overall health is driving increasing demand for supplements and fortified products. As people become more conscious of their dietary needs, they are turning to nutritional products to fill gaps in their diets. This heightened focus on maintaining optimal health through proper nutrition is expected to sustain and propel market growth throughout the forecast period.
The proliferating demand for personalized supplement solutions is an emerging trend in the market. An increasing number of online retailers and manufacturers are giving access to personalization tools and platforms to consumers that allow them to create a specialized supplement list, which has been customized to the consumer's nutritional requirements, health conditions, and preferences. These online tools collect data regarding a consumer's supplement regime, sleep pattern, and daily activities and make recommendations based on the user's specific needs. This will aid in growing consumer needs by providing individuals with information on nutrients according to their health needs.
Many new players have entered the market in recent years, which provide subscription-based customized supplement plans and dietary products delivered to customers' doorsteps. More such businesses are expected to come up in the coming years. Hence, such factors will drive the growth of the global vitamins & market during the forecast period.
Consumer distrust stemming from misleading marketing activities is a major challenge impeding market growth. To promote the sales of these products, manufacturers and marketing agencies use a diverse assortment of advertising strategies. Some of these marketing strategies falsely advertise the capabilities of a dietary supplement in order to draw new customers. Many of these false advertisements promise faster and better results. As such, many first-time customers buy these products assuming the product or brand to be healthy and efficient but face disappointment when these products fail to deliver the desired results.
Although the number of misleading and deceptive advertisements promoted through various media is relatively low as compared to the genuine ones, such advertisements, and experiences have created a sense of distrust among consumers regarding the efficiency and usefulness of these items. This is a major challenge for the adoption and use of these items among new customers, which is expected to impact market growth and trends negatively during the forecast period.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
The market share growth by the vitamins segment will be significant during the forecast period. The vitamin segment of the market is crucial for maintaining good health, as their deficiency can lead to various disorders. The demand for vitamin supplements is increasing due to their importance in maintaining health. Vitamin D deficiency cases are high in Scandinavia, where the consumption of vitamin D supplements is increasing. Vitamin B12 and D are recommended for healthy aging and vegan consumers. Multivitamin tablets with herbs as a source of vitamins and minerals are also popular, especially for adults. The deficiency of minerals such as calcium, iron, and zinc is a major cause of concern, leading to disorders such as osteoporosis and immune system malfunction. Therefore, the growing demand for vitamins and minerals is expected to drive the growth of the segment in the global market during the forecast period.
The vitamins segment was valued at USD 55.40 billion in 2018.
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The combination supplements segment includes both combination food supplements and herbal or plant supplements such as ginseng. The driving factor for combination supplements is the availability of multiple nutrients in a single-serve package. These are especially preferred by people who consume low-calorie diets and have poor eating habits.
APAC is estimated to contribute 48% to the growth of the global market during the forecast period.
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APAC dominates the global market, with China, India, and Japan being the leading countries. The rise in consumer awareness of the availability and nutritional benefits of nutritional products, along with the increase in marketing activities by major market players, is the key factor supporting the growth of the regional market. Developing countries such as China and India will continue to outpace the global market's growth during the forecast period due to the concentration of a large number of pharmaceutical and nutritional product companies in the region, which are investing in new product developments with a focus on Asian consumers.
In the past decade, several developing countries in APAC witnessed a change in people's lifestyles, which stemmed from the rapid economic growth and expansion of the middle-income population segment. These factors led to increased spending on healthy food and nutritional items. Nutritional products, such as probiotic drinks (such as those of the Yakult brand), are especially becoming popular in the region due to their palatable characteristics. In addition, the demand for pediatric products and supplements that aid in healthy ageing is also gaining momentum due to advancements in prenatal healthcare facilities and old-age homes. These factors will continue to drive the market in the region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative market analysis and report of companies have been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
This market caters to diverse consumer needs, from preventive healthcare for the elderly population to personalized nutrition and weight management solutions. They include pharmaceuticals and nutraceuticals like amino acids and protein products. The market addresses concerns related to overweight and offers alternatives to traditional protein sources. However, the high cost of these items can be a barrier, leading to a preference for plant-based supplements. Consumer trust is crucial due to conhorse racing concerns about fake items, driving demand for botanicals and sports nutrition products. The market also encompasses personal care markets and soft gel formulations. In the context of leisure activities, these are consumed by various age groups, including the elderly, who seek them in pharmacies for sports type preferences like football and horse-racing. Despite consumer skepticism, the market continues to innovate to meet evolving consumer needs and preferences.
In the market, protein supplements play a vital role in addressing various health concerns, particularly among the elderly age group. As people age, they may experience lifestyle disorders and protein deficiency, making supplements crucial for maintaining health. Amino acids deficiency can further exacerbate these issues, highlighting the importance of targeted supplementation. Additionally, weight management supplements are in high demand, especially among those dealing with overweight issues. Pharmacies are key distribution points for these supplements, offering convenient access to consumers seeking to improve their well-being. With the increasing prevalence of lifestyle-related health issues, the demand for dietary supplements continues to grow, driving innovation and expansion in the market.
The market is experiencing exponential growth fueled by a surge in consumer interest in personal health and well-being trends. However, this growth is not without challenges, as the industry grapples with the prevalence of fake supplements and the need for self-directed care. Pharmacies play a critical role in providing access to genuine products and guiding consumers in navigating the dietary supplement landscape. Consumer preferences are increasingly shifting towards customized dietary supplements tailored to individual biological requirements. This trend has led to the emergence of a diverse range of products, including mineral supplements and herbal supplements, catering to specific health and prevention needs in the market.
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Market Scope |
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Report Coverage |
Details |
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Page number |
183 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.09% |
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Market Growth 2024-2028 |
USD 65.1 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.3 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 48% |
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Key countries |
US, China, Japan, UK, and Italy |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abbott Laboratories, Amway Corp., Archer Daniels Midland Co., Arkopharma Laboratories, Bayer AG, Carlyle Nutritionals LLC, Glanbia plc, Haleon Plc, Herbalife International of America Inc., Natures Sunshine Products Inc., Natures Way Brands LLC, NOW Health Group Inc., Nu Skin Enterprises Inc., NutriGold Inc., Orgenetics Inc., Otsuka Pharmaceutical Co. Ltd., Pfizer Inc., Reckitt Benckiser Group Plc, Sanofi SA, and Suntory Holdings Ltd. |
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Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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