Dietary Supplements Market Present Scenario, Business Growth and Development Factors by 2030

Dietary Supplements Industry Overview

The global dietary supplements market size was valued at USD 151.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.9% from 2022 to 2030.

 

Increasing consumer awareness toward personal health and wellbeing is expected to be a key driving factor for dietary supplements over the forecast period.  The working population around the globe is struggling to fulfill the dairy nutrient requirements owing to hectic work schedules and changing lifestyles. Increasing dependence on the supplements to fulfill the nutrient requirement owing to their high convenience is expected to drive the market over the forecast period.

 

Gather more insights about the market drivers, restrains and growth of the Global Dietary Supplements Market

 

The U.S. emerged as a leading market for dietary supplements in the North American region owing to the higher spending capacity of the consumers. Increasing spending on healthcare products, the rising geriatric population, rising interest in preventive healthcare, and growing interest in attaining wellness through diet are expected to augment market growth over the forecast period. A growing number of fitness centers, health clubs, and gymnasiums coupled with growing awareness about fitness among the youngsters is expected to increase the demand for energy and weight management. Increasing acceptance of sports as a career is expected to increase the demand for sports nutrition which in turn benefits the market for dietary supplements.

 

Research and development are the key success factor for dietary supplements which requires heavy investments. Also, stringent regulations regarding the health benefits claim and labeling of the products are expected to create challenges for the dietary supplements over the forecast period. The unprecedented outbreak of the COVID-19 pandemic has largely affected North America and European countries such as the U.S, Italy, Spain, the U.K., France, and Germany. The dietary supplement industry is largely concentrated in these regions which in turn benefitted from the situation as the market witnessed a surge in demand for immunity-boosting supplements.

 

Browse through Grand View Research’s Nutraceuticals & Functional Foods Industry Research Reports

• Energy Ingredients Market: The global energy ingredients market size was valued at USD 19.39 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2022 to 2030.
• Protein Supplements Market: The global protein supplements market was valued at USD 6.26 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.0% from 2022 to 2030.

 

 

Market Share Insights

• Jan 2021: Flume Formulas Ltd. introduced a product line of botanical supplements which included products FLOW, DRIFT, and BASK for athletes which can be used as pre-workout and post-workout energy and recovery application.
• April 2019: Ayanda received a patent for a soft gel capsule in Europe that can contain active probiotic bacteria. Before the invention, the application of gels to carry probiotic bacteria was difficult as the production of gels requires high temperatures which did not allow bacteria to survive.

 

Key Companies Profile

Some of the prominent players in the dietary supplements market include:

• Amway Corp.
• Glanbia PLC
• Abbott
• Bayer AG
• Pfizer Inc.
• ADM
• Nu Skin Enterprises, Inc.
• GlaxoSmithKline plc
• Bionova
• Ayanda

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