November 24, 2020

Dietary Supplements Market Size and Growth Factors Research and Projection 2027

Expanding the geriatric population base, high hospitalization costs, and shifting focus towards preventive health care is propelling the dietary supplements industry growth.

Market Size – USD 147.8 Billion in 2019, Market Growth - CAGR of 5.5%, Market Trends – Growing adoption of a healthy lifestyle and increased demand for nutraceuticals.

According to a new report by Reports and data, The Global Dietary Supplements Market size is forecast to reach USD 228.19 Billion from USD 147.8 Billion in 2019, at a CAGR of 5.5% through 2027. Factors such as the increasing income of consumers, hectic lifestyle, rising awareness regarding nutrition & health, aging population, and prevalence of chronic diseases are driving the dietary supplements industry growth.

Dietary supplements are products intended to supplement the diet and enhance overall wellbeing. These supplements contain several beneficial ingredients and can be consumed in various forms, including tablets, pills, powder, syrup, and capsules. Consumption of dietary supplements may provide various health benefits such as protection from cold & flu, enhanced immunity, prevention of rheumatic diseases, migraine headaches, allergies, lower blood pressure, cholesterol & triglyceride levels, and may also prevent cardiovascular and cognitive diseases.

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A new trend in the dietary supplement industry involves the introduction of micro and nano-encapsulations that solve solubility and stability issues of bioactive compounds. The exponential growth of the sports nutrition segment, high discounts on e-commerce sites, and increased use of supplements for weight reduction are the factors supporting the market expansion. Moreover, the recent outbreak of coronavirus and rising demand for immunity boosting products, which, in turn, is supplementing dietary supplement revenue share.

The e-commerce and m-commerce platforms are gaining massive popularity for the purchase of health supplements as more and more people are looking for preventive healthcare management. Good health is no more a goal for consumers but is becoming a lifestyle choice for many. In addition, mass media communications and advertisements fuelled by the pharmaceutical & retail sectors are creating lucrative scope for industry growth. Furthermore, factors such as cost-effectiveness, the convenience of direct purchase, and self-medication in cases of minor health issues are poised to increase the acceptance of dietary supplements over the projected time period.

Further key findings from the report suggest

·         On the basis of application, the sports supplement segment is estimated to contribute USD 29 billion to the dietary supplements market share through 2027 due to increased product demand from athletes and health-conscious consumers.

·         Based on distribution channel, the online segment is anticipated to witness the fastest growth rate over the analysis period.

·         In the regional landscape, the North America dietary supplements market is estimated to gain around USD 20.44 from the vitamin supplements segment through 2027. The regional market is likely to expand on account of greater consumer awareness regarding product usage and the rapid proliferation of mobile apps that assist users with proper product intake routines.

·         The APAC region is forecast to be the fastest-growing market for dietary supplements during the forecast period. It has been observed that the Indian and Chinese parents were willing to spend more on their children's health. High demand for nutraceuticals in the region will foster dietary supplements market size.

·         Europe is forecast to generate revenue close to USD 34 billion and exhibiting a notable growth rate of 9.5% through 2027.

·         Prominent players in the dietary supplement market are Reckitt Benckiser Group, Abbott Laboratories, DuPont, GlaxoSmithKline, Pfizer, Archer Daniel Midland, Amway, Glanbia Nutritionals, Bayer, and Herbalife International, among others.

To identify the key trends in the industry, click on the link below:

Global dietary supplements market analysis is offered in detail in this report. For the purpose of the study, Reports and Data has segmented the dietary supplements market on the basis of ingredient, product, application, distribution channel, and region:

Ingredient (Revenue, USD Million; 2017–2027)

·         Botanicals

·         Vitamins

·         Minerals

·         Protein & Amino acids

·         Enzymes

·         Others

Product (Revenue, USD Million; 2017–2027)

·         Tablets

·         Capsules

·         Powder

·         Liquid

·         Soft gels

·         Gel caps

Application (Revenue, USD Million; 2017–2027)

·         Additional Supplements

·         Medicinal Supplements

·         Sports Supplements

Distribution channel (Revenue, USD Million; 2017–2027)

·         Hospital Pharmacies & Drug Stores

·         Clinic Supermarkets & Hypermarkets

·         Online

·         Others

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Regional Outlook (Revenue in USD Million; 2017–2027)

·         North America

o    U.S.

o    Canada

o    Mexico

·         Europe

o    Germany

o    France

o    UK

o    Italy

o    Rest of the Europe

·         Asia Pacific

o    China

o    India

o    Japan

o    Rest of Asia-Pacific

·         Middle East & Africa

o    South Africa

o    Rest of Middle East & Africa

·         Latin America

o    Brazil

o    Rest of Latin America

Thank you for reading our report. The customization of the report is available as per your research needs. Please get in touch with us, and our team will ensure you get the report tailored as per your requirements.

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