Dietary Supplements Market Worth $239.4 Billion By 2028 - Exclusive Report By Marketsandmarketstm


(MENAFN- PR Newswire) CHICAGO, June 5, 2023 /PRNewswire/ -- The dietary supplements market is estimated at USD 167.5 billion in 2023 and is projected to reach USD 239.4 billion in 2028, at a CAGR of 7.4% from 2023 to 2028 according to a report published by MarketsandMarketsTM. A dietary supplement is a product intended for ingestion that contains a "dietary ingredient" intended to supplement the diet. The term "dietary ingredient" includes vitamins, minerals, herbs, botanicals, amino acids, enzymes, and probiotics that are part of the food supply. Some of the other key ingredients include concentrates, metabolites, constituents, extracts, or combinations of any dietary ingredient from the preceding categories. Dietary supplements may be found in many forms, such as pills, tablets, capsules, gummies, soft gels, liquids, and powders. They can also be in the same form as a conventional food category, such as teas or bars.

Download PDF Brochure:

Browse in-depth TOC on "Dietary Supplements Market"
380 – Tables
45 – Figures
350 – Pages

The high demand for vitamins for all age groups drives the market

vitamins
are required in small quantities, to maintain health and necessary function of the human body. Different vitamins play vital roles like maintaining bone density, proper hormonal activity, weight, and muscle mass in all humans. Most of these micronutrients like vitamins and minerals need to be taken up from daily diet as they cannot be synthesized by the human body or it produces in lesser quantities. Factors such as consuming processed food, junk food, and lifestyle changes lead to a decrease in vitamin consumption which demands requirement through dietary supplements.

The growing popularity of additional supplements to complement daily diets is projected to boost the additional supplement function segment.

Additional supplements are concentrated sources of nutrients such as minerals and vitamins or other substances with a nutritional or physiological effect. These additional supplements are intended to correct nutritional deficiencies, maintain an adequate intake of nutrients, and support specific physiological functions. They are not medicinal products and as such cannot exert a pharmacological, immunological, or metabolic action. The increasing awareness of overall health and wellness amongst the younger generation is driving the demand for additional supplements.

The increasing trend of consuming liquid beverage supplement is set to dominate the market during the study period

Liquid dietary supplements help to resolve nutritional deficiencies by providing an adequate amount of micronutrients and macronutrients as per the daily recommended dietary allowance for each body type. Since it helps in curbing malnutrition and nutritional deficiencies, dietary supplements help in proper physiological functions. They do not possess any pharmacological, immunological, or medicinal action, as they do not possess any active pharmaceutical ingredient. Since, liquid supplements are easy to consume by any age group and the contents are easily digestible it is convenient and affordable to use and consume. Due to this factor, the liquid segment would dominate the market.

The need for optimal nutrition due to the changing lifestyle increases the demand for dietary supplements in adults

Over-the-counter dietary supplements are big business. Vitamins and minerals are essential to helping the body develop and function as it should. While most adults get all of what's recommended by eating healthy, some need a little extra nutrient boost. That's where supplements support your body's needs to stay healthy. Due to their busy lifestyle adults are prone to chronic health conditions and high stress levels. Though supplements do not prevent them from these disorders, it helps the target population to maintain overall good health.

The ease of use further fuels the growth of online distribution channels in the global dietary supplements market

An e-commerce distribution channel is a path through which goods and services flow from producers to consumers. The primary purpose of a distribution channel is to make goods and services available to consumers most efficiently and effectively as possible. According to a survey by TimesNow, on dietary supplements in India conducted in March 2022, around 51% of respondents who took dietary supplements or nutraceuticals stated that they purchased them online. This indicates that most of the people prefer online purchases which fuel the demand for this distribution channel.

Request Sample Pages:

Asia Pacific provides the highest growth prospects for the dietary supplements market in 2023

Asia Pacific is a highly diverse market in terms of dietary supplement manufacturing and consumption. The Asia Pacific dietary supplements market is expected to grow at a significant rate. The population across has been increasingly switching towards a healthier life by the adoption of dietary supplements in different forms, which are naturally sourced. Additionally, the geriatric population has been growing in countries such as Japan, where the demand for geriatric supplements and medicinal supplements is set to grow. Further, after the pandemic countries like India and China are increasingly adopting these supplements apart from daily diet, as a means of prevention and fulfilling dietary requirements. These countries are also offering key players to expand their reach in the dietary supplements market by providing a vast customer base, the focus of the companies operating in the market is shifting towards establishing business and manufacturing facilities, which drives the market in the region.

The prime factor contributing to the growth of dietary supplements in the region is the growing adoption of supplements to meet the intensifying food demand and escalating population. Additionally, key players like Abbott (US), Nestle (Switzerland), and others have a strong presence and market share in the region, which further boost the dietary supplements market in the Asia Pacific.

Key players in this market include Nestle (Switzerland), Abbott (US), Amway Corp (US), Pfizer Inc. (US), ADM (US), International Flavors & Fragrance (US), Otsuka Holdings Co., Ltd (Tokyo), Glanbia PLC (Ireland), GSK PLC. (UK), Bayer AG (Germany), Herbalife International of America, Inc. (US), Nature's Sunshine Products, Inc (US), Bionova (Canada), ArkoPharma (France), American Health (US), Pure Encapsulation (US), H&H Group (Hong Kong), Nu Skin (US), Power Gummies (India), Biomedical Research Laboratories (US), HealthKart (India), NutriScience Corporation (US), Nature's Essentials (US), and Life Extension (US).

Get 10% Free Customization on this Report:

Browse Adjacent Reports @ food and beverage market research Reports & Consulting

Related Reports:

personalized nutrition market
by Product Type (Active Measurement and Standard Measurement), Application, End Use (Direct-to-Consumer, Wellness & Fitness Centers, Hospitals & Clinics, and Institutions), Form and Region - Global Forecast to 2027

bone & joint health supplements market
by Type (Vitamin D, Vitamin K, Calcium, Collagen, Omega 3-Fatty Acid, Glucosamine-Chondroitin), Distribution Channels, Form (Tablets, Capsules, Liquid, Powder), Target Consumers and Region - Global Forecast to 2027

dietary fibers market
by Source (Fruits & Vegetables, Cereals & Grains, Legumes, Nuts & Seeds), Type (Soluble, Insoluble), Application (Functional Food & Beverages, Pharmaceuticals, Feed, Nutrition, Other Application) & Region - Global Forecast to 2027

About MarketsandMarketsTM

MarketsandMarketsTM is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStoreTM (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit or follow us on
twitter ,
linkedin and
facebook .

Contact:
Mr. Aashish Mehra
MarketsandMarketsTM INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight:
Visit Our Website:
Content Source:

Logo:

SOURCE MarketsandMarkets

MENAFN05062023003732001241ID1106387290


PR Newswire

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.