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The North America - Dietary Supplements Market size is projected to increase by USD 20.44 billion and the market size is estimated to grow at a CAGR of 8.39% between 2023 and 2028.
This North America dietary supplements market report extensively covers market segmentation by distribution channel (offline and online), and product (vitamins, fatty acids, combination, probiotics, and others). Our report examines historic data from 2018 to 2022, besides analyzing the current market scenario.
The growing popularity of e-commerce channels is notably driving market growth. The rise of e-commerce has made it easier for consumers to access a wide variety of dietary supplements online, providing convenience and a broader product selection. E-commerce gives customers access to regional and global brands of dietary supplements. Further, personal shopping assistance and supplement recommendations are some of the main benefits of online shopping. Many players are expanding their online retail business operations to gain competitive advantages over Internet-only retailers. They are building their own web portals to sell supplement varieties, including dietary supplements. Such factors will positively impact the growth of the dietary supplements market in North America during the forecast period.
The North America Dietary Supplements Market shows an Accelerated CAGR during the forecast period.
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Increased focus on personalized nutrition is an emerging trend shaping the market growth. Personalized nutrition refers to tailoring dietary recommendations and supplement choices to an individual's specific needs, preferences, and health goals. Personalized nutrition assessments can identify specific nutrient deficiencies in an individual's diet, enabling targeted supplementation to address these gaps. People have diverse health goals, such as weight management, improved athletic performance, better digestion, or enhanced cognitive function. Personalized nutrition allows individuals to select dietary supplements that align with their unique objectives.
In addition, consumers are increasingly proactive about their health and are seeking more active roles in managing their well-being. Personalized nutrition empowers individuals to make informed choices about their diets and supplement regimens. Thus, increased focus on personalized nutrition will have a positive impact on the growth of the North America - dietary supplements market. Such factors are expected to drive the market growth during the forecast period.
A challenging regulatory environment is a significant challenge hindering market growth. The growth of the North America - dietary supplements market brings about a greater need for governmental intervention and strengthening of regulations pertaining to the production, distribution, safety testing, and claims regarding the effectiveness of dietary supplements. Over the past decade, the US Food and Drug Administration (FDA) has become more stringent with the safety standards for consumable foods and drugs and has witnessed an increase in the number of labeling violations related to dietary supplements.
In addition, tightening such regulations is expected to become a challenge for manufacturers as they will have to spend an increased amount of capital on research and development, complex manufacturing solutions, and safety testing. Such factors could become a major challenge for the growth of the dietary supplements market In North America during the forecast period.
Vitamin supplements are dietary products designed to provide vitamins that may be lacking in a person's regular diet. These supplements contain a combination of different vitamins and minerals in a single product. People are becoming more conscious of their health and are actively seeking ways to improve it. Vitamins are seen to fill nutritional gaps and promote overall well-being. The COVID-19 pandemic heightened interest in supplements that support the immune system. Vitamins such as vitamin C, vitamin D, and zinc gained popularity for their potential role in immune health. Thus, due to all these, the demand for vitamin supplements is surging, which is expected to boost the growth of the market during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. Offline is one of the most popular distribution channels for supplement varieties such as dietary supplements. These channels include hypermarkets, supermarkets, drug stores, and discount stores. Supermarkets and hypermarkets have emerged as the most popular distribution channels for the North America - dietary supplements market.
The offline segment was the largest and was valued at USD 23.71 billion in 2018.
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Grocery and convenience stores are popular due to their multi-utility outlets, broad merchandise mix, and extended hours of operation. Hence, it is easy for consumers to compare various supplement brands before making a purchase decision. In addition, grocery and convenience stores provide additional facilities such as virtual payment methods and on-premises Automated Teller Machines (ATMs). Owing to these additional facilities provided, grocery and convenience stores have a more diverse consumer base. Offline distributors are also involved in various service delivery innovations, such as same-day delivery and other promotional offers. As a result, the offline segment is expected to register an accelerating year-over-year growth rate, which, in turn, will have a positive impact on the growth of the market in focus 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 North America Dietary Supplements Market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has 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 North America Dietary Supplements Market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
North America Dietary Supplements Market Scope |
|
Report Coverage |
Details |
Page number |
133 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.39% |
Market growth 2024-2028 |
USD 20.44 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.14 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AEGLE Nutrition, BioTech Pharmacal, Divine Design Manufacturing, FoodScience LLC, Gemini Pharmaceuticals, Gummi World, Life All Natural, Life Solution, Makers Nutrition LLC, Organimed LLC, Pharma Natural, Pharmatech Inc., ROCKTOMIC LABS LLC, Superior Supplement Manufacturing LLC, Supplement Manufacturing Partner, Twinlab Consolidated Corp., and Veluca Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our 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 Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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