The global dietary supplements market reached a valuation of USD 86.77 billion in 2023. It is anticipated to expand from USD 93.46 billion in 2024 to USD 182.52 billion by 2032, reflecting a compound annual growth rate (CAGR) of 8.73% throughout the forecast period (2024–2032). Asia Pacific led the market in 2023, accounting for 41.97% of the total market share.

Dietary supplements are ingestible products that contain one or more nutritional ingredients. The global market is witnessing strong momentum due to the increasing demand for sports nutrition and performance-enhancing supplements. Growing consumer interest in fulfilling daily micronutrient needs and rising expenditure on health and wellness items are projected to further accelerate market growth.

Information Source: https://www.fortunebusinessinsights.com/dietary-supplements-market-102082 

Segmentation:

Vitamins Segment Held a Dominant Share Propelled by Extensive Product Consumption

By type, the market is segmented into enzymes, vitamins, fatty acids, minerals, proteins, and others. In 2023, the vitamins segment captured the largest portion of the market, driven by the widespread use of vitamin supplements to address deficiencies common across both developed and developing nations.

Tablet Segment Registers Major Share Owing to High Affordability of the Product

Based on form, the categories include liquids, capsules, powders, and tablets. The tablet segment dominates due to its long shelf life and cost-effective nature, making it a preferred format among consumers.

General Health Segment Holds Key Share Impelled by Rising Concerns Associated with Long-term Health

In terms of application, the market is categorized into bone & joint health, energy & weight management, brain & mental health, immunity, cardiac health, general health, skin/hair/nails, healthy aging, and others. The general health category accounts for the largest share due to increasing public focus on long-term wellness and preventative health practices.

Adults Segment Holds Dominant Share Impelled by Higher Health Consciousness

By end-user, the market is divided into adults, children, elderly, and pregnant women. Adults represent the largest consumer group, supported by a rising awareness of health benefits and greater interest in dietary supplementation.

Pharmacies Segment Registers Key Share Driven by High Preference for Supplement Consumption

Distribution channels include pharmacies, online, supermarkets/hypermarkets, and others. Pharmacies lead the market share due to strong consumer trust and preference for receiving guidance when selecting supplements.

The market analysis spans North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report provides a comprehensive analysis of the primary factors expected to drive market growth in the coming years. It offers detailed segmentation by type, form, application, end-user, distribution channel, and region. Additionally, it highlights the latest trends shaping the industry landscape.

Drivers and Restraints:

Industry Value to Surge Propelled by Increasing Emphasis on Preventive Healthcare Measures

The emphasis on preventive health is rising as a result of the growing burden of chronic and age-related conditions. Increasing disease incidence, combined with product innovation from both large and small firms, is forecasted to contribute significantly to the market’s expansion.

However, the elevated cost of supplements may act as a limiting factor for broader market growth.

Regional Insights:

Asia Pacific to Exhibit the Fastest CAGR Impelled by Rising Health Consciousness

Asia Pacific is expected to record the highest CAGR of 8.50% during the forecast period, driven by increasing consumer focus on health and adoption of wellness products.

North America continues to see strong demand due to the rising incidence of lifestyle-related illnesses, such as obesity and diabetes.

Competitive Landscape:

Industry Players Focus on Diversifying their Portfolios to Gain Strong Footing

Leading players are actively pursuing portfolio diversification to strengthen their positions in the market. Nestlé S.A., for example, is emphasizing marketing, innovation, and production expansion to meet growing consumer demand.

List of Key Players Mentioned in the Report:

• Amway Corp (U.S.)
• Abbott (U.S.)
• Nestlé S.A. (Switzerland)
• Herbalife Nutrition Ltd. (U.S.)
• Archer Daniels Midland Company (U.S.)
• Glanbia Nutritionals (U.S.)
• Otsuka Holdings Co. Ltd. (Japan)
• Arkopharma (France)
• Pfizer Inc. (U.S.)
• GlaxoSmithKline plc (U.K.)

Tariff Impact Analysis for Dietary Supplements Market: https://www.fortunebusinessinsights.com/enquiry/request-sample-us-tariff/dietary-supplements-market-102082 

Key Industry Development:

November 2023: Abbott introduced a new product under its PediaSure line, enhanced with the Nutri-Pull system. This formulation includes vitamin K2, vitamin D, vitamin C, and casein phosphopeptides (CPPs), aimed at promoting healthy growth and development in children.