Dietary Supplements Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 - 2027

Published Date : Dec 2020 | No. of Pages : 250 Pages | Category : Food and Beverages

The global Dietary Supplements market size is expected to be worth around US$ 230.71 billion by 2027, according to a new report by Vision Research Reports.

The global Dietary Supplements market size was valued at US$ 123.25 billion in 2019 and is anticipated to grow at a CAGR of 8.1% during forecast period 2020 to 2027.

Growth Factors

The market is backed by rising health awareness globally among consumers of all age groups coupled with a considerable rise in the number of fitness centers and gymnasiums.

The dietary supplements industry is driven by the hectic work schedules among working individuals coupled with fluctuations in diet intervals. Such factors have promoted the sale of dietary and nutritional supplements in the form of powder, liquids, and capsules across the globe. Rising importance of microencapsulation in the pharmaceutical industry to ensure color characteristics and the quality of finished ingredients is likely to force dietary supplements manufacturers to use capsule dosage forms over the forecast period.

Growing awareness towards calorie reduction and weight loss in major markets including the U.S., China, and Italy is expected to promote the application of health and wellness segment and thus, in turn, will have a substantial impact on the industry. Furthermore, increasing importance of protein intake in emerging markets of China and India on account of implementation of new advertising campaigns for brand promotions by companies including Amway and Pfizer is expected to remain a driving force over the forecast period.

Report Highlights

In terms of ingredients, the market is categorized into vitamins, minerals, botanicals, proteins and amino acids, omega fatty acids, and. Vitamin was the majorly used ingredient for the formation of dietary supplements, accounting for 32.0% of total market share in 2019 because of its ability to be easily excreted by kidneys. These products are expected to find more applications among working professionals and sports athletes in the form of multivitamin tablets, powders, and liquids.

Rising demand for herbs for the prevention of mental as well as physical disorders is anticipated to boost the botanicals segment over the forecast period. Furthermore, rising concerns over the adverse effects of conventional medicines including allopathic drugs are expected to promote the use of botanical extracts as ingredients for dietary supplements.

Energy and weight management, general health, bone and joint health, immunity, gastrointestinal health, immunity, cardia health, diabetes, and anti-cancer are the major application segment of the market for dietary supplements. Energy and weight management accounted for the largest market share of 29% in 2019, owing to the rising trend of online weight loss programs and government initiatives for promoting a healthy diet.

Growing consumer awareness regarding the maintenance of good gut health coupled with a high prevalence of digestive health issues is expected to drive the demand for digestive health products over the forecast period. Introduction of new delivery forms, scientific evidence to support the claims along with increased consumer awareness is expected to further fuel the product sale in the forthcoming years.

Based on end-user, the market is segmented into adults, geriatric, pregnant women, children, and infants. Adults were the major consumer segment and accounted for a market share of 47.7% in 2019. Rising awareness regarding fat reduction and increasing focus on enhancing nutrition intake is expected to promote the segment growth over the upcoming years.

Rising use of dietary supplements for nutritional enrichment for pregnant women is expected to help the segment register a CAGR of 7.3% during the forecast period. Ingredients including folate, prenatal multivitamin, vitamin D3, magnesium are majorly used to produce dietary supplements aimed for pregnant women. However, the growing importance of infant formula fortified with nutritional content on account of new product launches by baby food manufacturers like FrieslandCampina and Arla Foods is expected to limit the usage of these products.

OTC segment held the dominant market share in 2019, accounting for a revenue share of over 73.3%. Growing demand for the products specifically targeted at skin health, personal care, and digestive health is expected to positively influence growth. The growing popularity of food for special medical purposes, primarily targeting consumers with issues ranging from infertility to malnutrition is expected to have a significant impact on the prescribed supplements industry. This segment is expected to expand at a CAGR of 10.1% during the forecast period.

Tablet is the most used type of dietary supplements owing to the cost-effectiveness and easy packaging techniques. Tablets are highly preferred owing to their extended shelf life and easy material packing into a given space. The segment contributed approximately 34.8% of the total market share and is expected to lose its share to the capsules and soft gel segment owing to its bitter taste and the presence of lubricants that are not suitable for consumption.

Powder forms are expected to account for 12.8% of the total market share by 2027 owing to the increasing demand for energy-mix powders among athletes and bodybuilders. Furthermore, dietary products manufacturers including Amway introduced powder products under the name, NUTRILITE, which can be consumed along with drinks as well as milk products. Therefore, the powder segment is expected to capture some of the markets for functional foods over the forecast years. Soft gels and gel caps product forms are expected to find the application on account of their convenience preposition at retail stores.

The rising popularity of organic products among millennials has increased the demand for the powder segment as it can easily be consumed with beverages and other food products. The segment is expected to ascend at a CAGR of 8.0% over the forecast years.

Rising demand for sports nutrition products on account of the increasing importance of active lifestyle along with growing awareness regarding the benefits of protein intake is expected to play a crucial role in promoting the use of dietary supplements in North America. The region accounted for over 37% of total market share in terms of revenue in 2019 and is projected to witness growth on account of increasing product use with reduced calorie level and high nutritional content. In Mexico, increasing awareness regarding the advantages of nutritional products on account of new product launches is expected to promote the application scope in near future.

Furthermore, growing consciousness regarding the consumption of proteins for maintaining muscle mass and sustaining optimum nutrition levels among middle-aged adults in developed countries including the U.S. and Canada is expected to surge the product demand over the upcoming years.

Rising awareness about vegan supplementation owing to increasing concerns over cardiovascular hazards associated with animal nutrition is expected to trigger new investments by product manufacturers. Over the past few years, manufacturers like Glanbia have been investing in the R&D for new plant-based protein supplements which is expected to create new opportunities over the forecast period.

Strategic divestments, mergers and acquisitions, and new product launches were the key strategies implemented by the manufacturers to expand their customer base. For instance, Glanbia acquired Body & Fit in the Netherlands with the aim to ensure a direct presence in the swiftly growing direct-to-customer channel in 2017.

Key Players

Amway; Abbott Laboratories; Arkopharma Laboratoires Pharmaceutiques; Bayer; Glanbia; Pfizer; Archer Daniels Midland; Carlyle Group; NBTY Inc.; Nu Skin Enterprises; GlaxoSmithKline; Herbalife International; Nature’s Sunshine Forms; and Bionova Lifesciences.

Market Segmentation

  • Ingredient Outlook 

    • Vitamins

    • Botanicals

    • Minerals

    • Proteins & Amino Acids

    • Fibers & Specialty Carbohydrates

    • Omega Fatty Acids

    • Others

  • Form Outlook

    • Tablets

    • Capsules

    • Soft gels

    • Powders

    • Gummies

    • Liquids

    • Others

  • Application Outlook

    • Energy & Weight Management

    • General Health

    • Bone & Joint Health

    • Gastrointestinal Health

    • Immunity

    • Cardiac Health

    • Diabetes

    • Anti-cancer

    • Others

  • End user Outlook

    • Adults

    • Geriatric

    • Pregnant Women

    • Children

    • Infants

  • Distribution Channel Outlook

    • OTC

    • Prescribed

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • Italy

      • U.K.

      • Spain

    • Asia Pacific

      • China

      • Japan

      • Australia & New Zealand

    • Central & South America

      • Brazil

      • Peru

      • Chile

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

The Dietary Supplements market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Dietary Supplements market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Dietary Supplements market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Dietary Supplements market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Dietary Supplements market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Dietary Supplements capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Dietary Supplements by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Dietary Supplements market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Dietary Supplements market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Dietary Supplements market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Dietary Supplements industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Dietary Supplements market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Dietary Supplements market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Dietary Supplements market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Dietary Supplements market. These factors have benefited the growth of the global market for Dietary Supplements. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Dietary Supplements. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Dietary Supplements are as follows:

  • Historic Year: 2016-2019
  • Base Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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