Press release
Dietary Supplements Market Size to Reach USD 312.33 Bn by 2031 - Rise with Steller CAGR 8.1%
Dietary Supplements Market
The global dietary supplements market is estimated to be valued at USD 181.07 Bn in 2024 and is expected to reach USD 312.33 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.
Market Dynamics:
The dietary supplements market is witnessing high growth owing to rising health awareness and preventive healthcare approach among consumers. According to a recent survey, over half of the American adults regularly consume one or more dietary supplements. Also, busy lifestyles and lack of balanced diet have fueled the demand for dietary supplements. Furthermore, availability of e-commerce platforms has made purchase and consumption of dietary supplements more convenient for users.
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Dietary Supplements Market Drivers, Restrains, Opportunities and Trends
Rising health consciousness and preventive healthcare among consumers is driving the growth of the dietary supplements market
Consumers are becoming more conscious about their health and well-being. With growing awareness about preventive healthcare and healthy lifestyles, consumers are increasingly adopting dietary supplements to fulfil their daily nutrient requirements and gain health benefits. Supplements containing vitamins, minerals, botanicals, herbs and other ingredients are perceived to provide extra support for overall health. The market has witnessed strong demand for supplements supporting specific health conditions like bone and joint health, heart health, brain health, immunity, digestive health etc. The trend of self-medication and preventive healthcare approach is expected to continue driving robust growth of the dietary supplements industry.
Stringent regulatory framework is a key challenge constraining the growth
Dietary supplements industry is regulated by governmental agencies like the FDA in United States which enforces strict guidelines related to product labeling, manufacturing, ingredient screening and product claims. Any non-compliance or issues with product quality can attract regulatory actions like product recalls or warning letters which can damage the brand image and lead to loss of consumer confidence. Moreover, frequent changes and stringent interpretation of existing regulations increases the compliances costs for companies. The complex regulatory environment poses a restraint and companies have to invest significantly in regulatory procedures to ensure product safety and compliance.
Growing health consciousness among younger demographics is a major trend
Traditionally, dietary supplements were popular with the middle-aged and geriatric population for additional nutrient support and maintenance of bone and joint health. However, a notable trend today is the rising popularity of supplements among younger age groups including millennials and generation Z. Younger consumers are increasingly health-conscious and seek easy lifestyle solutions to fulfill their daily nutrient needs and take proactive steps for health through supplementation. Marketers are leveraging this behavior and customizing supplements targeting the needs of young population like supplements for cognitive function, energy, immunity, gut health, protein intake etc. This growing interest towards supplements at younger age indicates strong potential going forward.
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Top Companies Featured in This Report:
★ Archer Daniels Midland Company
★ Abbott Laboratories
★ Amway Corporation
★ Bayer AG
★ Glanbia plc
★ Herbalife Nutrition Ltd.
★ GlaxoSmithKline plc
★ Nestlé 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.
★ NOW Foods
Market Segmentation:
By Product Type:
★ By Ingredient : Vitamins , Botanicals , Minerals , Protein & Amino Acids , Fibers & Specialty Carbohydrates , Omega Fatty Acids , and Others
★ By Form : Tablets , Powders , Liquids , and Others
★ By End-user : Men , Women , Senior Citizens , and Others (Kids and Toddlers)
★ By Distribution Channel: Online and Offline (Hypermarkets/Supermarkets, Pharmacies/Drugstores, Specialty Stores, Practitioners, Others)
By Applications:
★ By Application: Weight Loss , Sports Nutrition , General Wellbeing , Immune and Digestive Health , Bone and Joint Health , Heart Health , and Others (Beauty Supplements, Anti-Allergies, and Eye Health, etc.)
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
The report offers insights on the following aspects:
Chapter 1: Study Coverage
Chapter 2: Executive Summary
Chapter 3: Analysis of Dietary Supplements Market Competition Landscape by Players
Chapter 4: Assessment of Dietary Supplements Market Size by Type and Application
Chapter 5: Global and Regional Analysis
Chapter 6: Company Profiles, recent developments, and investments
Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors
Chapter 8: Evaluation of Value Chain and Sales Channels, including breakthrough product developments
Chapter 9: Research Findings and Conclusion
Chapter 10: Methodology/Research Approach
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Dietary Supplements sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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