Dietary supplements are products that are commonly consumed orally in addition to normal or modified diet in order to supplement the dietary needs of the body. Dietary supplements include vitamins, minerals, fiber and herbal supplements among others. Factors such as rising incidence of lifestyle diseases, aging population, and increased awareness regarding preventive healthcare have been fueling the demand for dietary supplements globally. The growing demand for dietary supplements that support immunity, joint health, cardiovascular health, brain health and digestion is further expected to propel the market growth over the forecast period.
The Global Dietary Supplements Market is estimated to be valued at US$ 181.07 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Dietary Supplements are Archer Daniels Midland Company, Abbott Laboratories, Amway Corporation, Bayer AG, Glanbia plc, Herbalife Nutrition Ltd., GlaxoSmithKline plc, Nestl; S.A., Pfizer Inc., DSM Nutritional Products AG, Nature's Bounty Co., Otsuka Holdings Co., Ltd., Pharmavite LLC, GNC Holdings Inc., Suntory Holdings Limited, The Himalaya Drug Company, The Nature's Way Co., XanGo, LLC, USANA Health Sciences, Inc., and NOW Foods.
Key opportunities in the market include growing demand for dietary supplements with functional claims related to brain health, heart health, immunity, gut health and joint health. There is an increased focus on fitness and preventive healthcare which has created growth opportunities for specialized supplements. The rising health-conscious population especially in developing countries also presents growth opportunities.
Technological advancements have increased efficiency, absorption rate and bioavailability of active ingredients in dietary supplements. New delivery forms such as gel caps, chewables, powders and Ready-to-Drink formats have increased consumer convenience. Advancements in nanotechnology have further enhanced the bioavailability of certain ingredients.
Market Drivers
The increasing prevalence of lifestyle diseases such as diabetes, obesity, and cardiovascular diseases is a major factor driving the for Dietary Supplements Market Demand globally. As per a study, cardiovascular diseases, cancer, respiratory diseases and diabetes accounted for over 80% of global deaths in 2020. This has increased the focus on preventive healthcare and consumption of supplements that promote heart health, brain health and immunity. The growing aging population especially in developed economies is also fueling the growth of the dietary supplements market.
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