+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Dietary Supplements Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • PDF Icon

    Report

  • 154 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4602409
The dietary supplements market is projected to register a CAGR of 6.91% during the forecast period (2022- 2027).

With the sudden impact of COVID-19, the market has witnessed a surge in demand for products that provide digestive and immune health, which positively impacted the market. As a result, the sales of supplements such as protein, vitamins, omega-3 fatty acids, and others witnessed immense growth. Consequently, it led to numerous product launches to cater to the growing demand. Moreover, to satiate the surging demand and maintain safety norms, the manufacturers have been focusing on increasing their sales by encouraging their customers to shop online instead.

The dietary supplements market is preliminarily driven by the paradigm shift toward preventive health management practices amid rising healthcare costs and the increasing burden of lifestyle diseases. Furthermore, digitization in the retail sector is expected to boost the future growth of dietary supplements further. Similarly, the surging popularity of herbal supplements is also expected to drive market growth in the forecast period.

nAn increasing number of fitness centers, health clubs, and gymnasiums, coupled with the growing awareness about fitness among the youngsters, is expected to increase the demand for energy and weight management supplements. Increasing acceptance of sports as a career is expected to increase the demand for sports nutrition, which, in turn, benefits the market growth.

Key Market Trends


Escalating Consumer Investment In Preventive Healthcare Products


During the past year, the global market has been witnessing a metamorphosis from curative practices to preventive management in healthcare, making it a prime growth factor for the studied market. Healthcare as an industry contributes extensively to the overall economy. Emphasis on care management, paying for value, and rising general inflation influence healthcare costs. Healthcare costs are substantially high in the various regions globally, including the developed countries, due to higher per-capita out-of-pocket spending in the healthcare sector. Such trends have prompted consumers to opt for health supplements. Additionally, consumers have adopted a personalized approach to healthcare by investing in preventive products and services to deal with simpler metabolic disorders. Further, 78% of residents in the United Arab Emirates suffer from Vitamin D deficiency, and the overall cost of Vitamin D prescriptions has increased by 16.44% since 2014 in the United Kingdom. Also, as per Forth, 27% of consumers were Vitamin D insufficient/deficient (up to 16% of children in the United Kingdom are deficient), driving the sales of interesting formats of supplements in the market. Therefore, the producers of dietary supplements are capitalizing on the application, formulation, and therapeutic expansion to other health benefits, apart from the mainstream, to regulate sales.



Asia-Pacific Remains the Fastest Growing Market


The Asia-Pacific dietary supplements market witnessed rapid growth in developed and developing countries. The growing awareness about health supplements, along with the growing population and increasing disposable incomes, is driving the dietary supplement market in the country. Additionally, the demand for supplements in countries like India, China, and Japan has increased in recent years, owing to the considerable presence of the aging population in such developing countries. The dietary supplements market in the region is anticipated to offer significant investment opportunities, especially for herbal and Ayurveda extract-based products. This is because of the ample availability of raw materials in India and Southeast Asian countries. Moreover, partnerships between old and new players will likely strengthen market growth in these countries.



Competitive Landscape


The global dietary supplements market includes the leading players such as Pfizer, Glanbia Nutritionals, Abbott, Bayer AG, and Amway. The supplements market has a wide scope, considering the existing companies. With prevalent FDA regulations, the leading players have an upper edge and continue to dominate the market. Also, the major global players have geographical reach and high brand awareness among consumers, giving them an upper hand. The major players focus on product innovation, offering different flavors and fun added formats like gummies and chewables.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.

Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Vitamin
5.1.2 Mineral
5.1.3 Herbal Supplements
5.1.4 Proteins and Amino Acids
5.1.5 Fatty-acids
5.1.6 Probiotics
5.1.7 Other Types
5.2 By Distribution Channel
5.2.1 Pharmacies and Drug Stores
5.2.2 Supermarkets and Hypermarkets
5.2.3 Online Channel
5.2.4 Other Distribution Channels
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 Germany
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Most Adopted Strategies
6.4 Company Profiles
6.4.1 Amway Corporation
6.4.2 Abbott Nutrition
6.4.3 Glanbia PLC
6.4.4 Bayer AG
6.4.5 Pfizer Inc.
6.4.6 Suntory Holdings Ltd
6.4.7 Herbalife Nutrition
6.4.8 Glaxosmithkline PLC
6.4.9 Otsuka Holdings Co. Ltd
6.4.10 The Bountiful Company
7 MARKET TRENDS AND FUTURE OPPORTUNITY8 IMPACT OF COVID-19 ON THE MARKET

Samples

Loading
LOADING...

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Amway Corporation
  • Abbott Nutrition
  • Glanbia PLC
  • Bayer AG
  • Pfizer Inc.
  • Suntory Holdings Ltd
  • Herbalife Nutrition
  • Glaxosmithkline PLC
  • Otsuka Holdings Co. Ltd
  • The Bountiful Company

Methodology

Loading
LOADING...