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The Dietary Supplements Market size is estimated to grow by USD 61.4 billion between 2022 and 2027, accelerating at a CAGR of 8.16% during the forecast period. 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 various health issues, including heart disease, stroke, obesity, and cognitive decline. As a result, people are becoming more aware of the importance of taking these products to meet their nutritional needs. This trend is expected to continue driving market growth in the forecast period.
The market caters to diverse needs, especially among the elderly population, focusing on preventive healthcare and personalized nutrition. With a surge in lifestyle disorders and obesity, there's a growing demand for protein supplements, amino acids, and weight management products. Nutraceuticals play a crucial role in addressing protein and amino acid deficiencies, promoting overall health and wellness. This market segment extends to personal care markets, offering solutions for leisure activities and sports types like football and horse-racing. As the population ages, the demand for dietary supplements continues to rise, emphasizing the importance of preventive healthcare and lifestyle management.
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 negatively during the forecast period.
The report includes the adoption lifecycle of the market, 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.
Global Market Customer Landscape
The market encompasses a wide range of products aimed at promoting health and wellness, catering to various demographics and lifestyle needs. Pharmacy shelves are stocked with dietary supplements, offering consumers convenient access to essential nutrients and health-promoting ingredients. These supplements are often recommended by healthcare professionals to complement pharmaceutical treatments and support overall well-being. One key demographic driving the demand for dietary supplements is the elderly population. As individuals age, their nutritional needs may change, making supplements such as nutraceuticals increasingly important for maintaining optimal health and vitality. Nutraceuticals offer targeted benefits, addressing specific health concerns and promoting healthy aging. Protein supplements are particularly popular among individuals seeking to support their active lifestyles and fitness goals. These supplements provide a convenient source of high-quality protein, essential for muscle repair and growth, making them a staple in personal care markets catering to fitness enthusiasts and athletes. Another emerging trend in the dietary supplements market is personalized nutrition, where supplements are tailored to individual needs based on factors such as age, gender, health status, and lifestyle preferences. This personalized approach ensures that consumers receive the nutrients they need in the right dosage and form to optimize their health outcomes.
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 52.97 billion in 2017.
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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 51% 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 15 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.
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.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of themarket growth and trends and growth opportunities from 2017 to 2027.
Dietary Supplements Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.16% |
Market growth 2023-2027 |
USD 61.4 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.04 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 51% |
Key countries |
US, China, Japan, UK, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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 Products LLC, NOW Health Group Inc., Nu Skin Enterprises Inc., NutriGold Inc., Orgenetics Inc., Pfizer Inc., Reckitt Benckiser Group PLC, Sanofi SA, Suntory Holdings Ltd., and Otsuka Holdings Co. Ltd |
Market dynamics |
Parent market analysis, Market forecasting, Market growth and trends and inducers and obstacles, market growth analysis, market trends, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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