DUBLIN--(BUSINESS WIRE)--The "Global Dietary Supplements Market by type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Function (Additional Supplements, Medicinal Supplements, Sports Nutrition), Mode of Application, Target Consumer and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global market for Dietary Supplements is estimated at USD 155.2 billion in 2022; it is projected to grow at a CAGR of 7.3% to reach USD 220.8 billion by 2027.
Increasing consumer health awareness and rising disposable income across regions are factors that have encouraged people to shift to nutraceuticals such as dietary supplements. Consumers have become increasingly aware and conscious of their dietary habits. Lifestyle changes, along with a better understanding of fitness and health, have encouraged people to consume multivitamins and minerals in the form of capsules and tablets.
Increasing health awareness has also led consumers to shift to customized dietary supplements that are specific to their biological requirements. Consumers have become increasingly inclined toward a healthy lifestyle and additional nutrition. With changing preferences due to increased health awareness, consumers are increasingly seeking dietary supplements in their daily lifestyles.
The Vitamin segment by type is projected to observe the fastest growth in the Dietary Supplements market throughout the forecasted period
In the vitamins segment, popular supplements include vitamin D and vitamin B12. Vitamin D promotes calcium absorption in the gut and maintains adequate serum calcium and phosphate concentrations to enable normal bone mineralization and prevent hypocalcemic tetany. Vitamin B12 is a nutrient that helps keep the body's nerve and blood cells healthy and helps make DNA (the genetic material in all cells).
Over the past couple of years, there has been a rise in concern over the prevention of osteomalacia, which is a vitamin D deficiency disease that causes bone pain and muscle weakness. Such diseases are prevalent in the North American as well as European regions. This has led to a rise in demand for vitamin D dietary supplements in these regions since the consumption of dietary supplements has been on the higher end.
The Additional supplements segment by function is estimated to account for the largest market share in the global Dietary Supplements market
Supplements that can be consumed without the prescription of medical experts fall under this segment. Such dietary supplements can contain minerals, herbs or other botanicals, amino acids, enzymes, and many other ingredients. Dietary supplements come in a variety of forms, including tablets, capsules, gummies, and powders, as well as drinks and energy bars.
According to the National Center for Health Statistics, 57.6% of US adults aged 20 and above used a dietary supplement, with women (63.8%) using more than men (50.8%). Multivitamin-mineral supplements were the most commonly used dietary supplements across all age groups, followed by vitamin D and omega-3 fatty acid supplements.
The tablet sub-segment of the by mode of application segment is projected to attain the fastest market growth in Dietary Supplements market over the forecast period
The tablet form is widely consumed and boasts easy availability, affordability, a wide range of dosage patterns, easy packaging, storage, and cost-effectiveness. Tablets also have a high shelf-life and thus find higher preference than other formats of dietary supplements. Tablets are very customizable in terms of size, shape, and colour.
The adults segment by the target consumer is estimated to account for the largest market share in the global Dietary Supplements market
Vitamin deficiency is one of the key factors that have driven the consumption of dietary supplements among adults. According to the US CDC, approximately one-third of US children and adolescents take dietary supplements; use varies by demographic characteristics. Furthermore, the US and Canada have seen rising concerns over the prevention of osteoporotic bone disease, which is caused due to deficiency of calcium. Calcium supplementation and Vitamin D have been recommended to prevent osteoporotic fracture and improve bone health.
Research Coverage
This report segments the Dietary Supplements market on the basis of type, product type, mode of application and crop type and region. In terms of insights, this research report focuses on various levels of analyses - competitive landscape, end-use analysis, and company profiles - which together comprise and discuss the basic views on the emerging & high-growth segments of the Dietary Supplements market, the high-growth regions, countries, government initiatives, market disruption, drivers, restraints, opportunities, and challenges.
Leading Players Profiled
- Amway Corp. (US)
- Herbalife International of America, Inc. (US)
- ADM (US)
- Pfizer Inc. (US)
- Abbott (US)
- Nestle (Switzerland)
- Otsuka Holding Co. Ltd. (Japan)
- H&H Group (China)
- Arkopharma (France)
- Bayer AG (Germany)
- Glanbia PLC (Ireland)
- Nature's Sunshine Products Inc. (US)
- Fancl Corporation (Japan)
- Danisco (Denmark)
- Bionova (India)
- American Health (US)
- Pure Encapsulations LLC (US)
- GlaxoSmithKline, PLC (UK)
Market Dynamics
-
Drivers
- Shift in Consumer Preferences due to the Increasing Focus on Health and Prevention
- Rising Prevalence of Chronic Diseases
- Rising Healthcare Burden due to Chronic Ailments
- Rising Geriatric Population and the Growing Use of Dietary Supplements in this Population Segment
- Growing Retail Sales of Functional Foods
-
Restraints
- High Cost of Dietary Supplements
- High R&D Investments and High Cost of Clinical Trials
-
Opportunities
- Shift Toward Plant-based Supplements
- Consumer Awareness About Micronutrient Deficiencies
- Government Mandates Related to Food Fortification
-
Challenges
- Consumer Skepticism and Fake Supplements Associated with Nutraceutical Products
- Challenging Regulatory Environment
Premium Insights
- Emerging Demand for Personalized Nutrition Offers Opportunities for Market Growth
- Additional Supplements to Dominate the Market During the Forecast Period
- Tablets Led the Dietary Supplements Market
- Adult Target Consumers Led the Dietary Supplements Market
- Vitamins Form the Dominant Segment in the European Dietary Supplements Market, by Type
- North America Led the Dietary Supplements Market in 2021
- US Accounted for the Largest Share of the Global Dietary Supplements Market in 2021
Full List of Companies Mentioned
- Abbott
- ADM
- American Health
- Amway Corp
- Arkopharma
- Bayer AG
- BHI Biohealth International GmbH
- Biomedical Research Laboratories
- Bionova
- Danisco
- Fancl Corporation
- Glanbia plc
- GlaxoSmithKline, plc
- H&H Group
- Herbalife International of America, Inc.
- Nature's Sunshine Products Inc.
- Nestle
- Nutrascience Labs
- Otsuka Holdings Co. Ltd.
- Pfizer Inc
- Plantafood Medical GmbH
- Pure Encapsulations, LLC.
- UST Corp.
For more information about this report visit https://www.researchandmarkets.com/r/59d2hs
