NEW YORK, Aug. 17, 2023 /PRNewswire/ -- The dietary supplements market size is expected to grow by USD 61.4 billion from 2022 to 2027, progressing at a CAGR of 8.16% as per the latest Technavio market research report. APAC is going to have lucrative growth during the forecast period. About 51% of the market's overall growth is expected to originate from APAC. Some of the main countries which are significantly contributing to the global dietary supplements market growth include China, India, and Japan. Factors such as the increase in consumer awareness of the availability and nutritional benefits of nutritional supplements coupled with the rise in marketing activities by major market players are fuelling the market growth in the region. Hence, such factors are expected to drive market growth in the region during the forecast period. For more insights on the market share of various regions- Download a sample report in MINUTES
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Dietary Supplements Market: Market Dynamics
Key Drivers
The rising popularity of healthy eating habits drives the market growth during the forecast period. There is an increasing adoption of healthy eating habits such as the consumption of whole-grain foods and a balanced and varied diet, which are related to emotional, physical, and cognitive well-being. Some of the health issues which are caused by nutritional deficiencies include heart disease, stroke, obesity, and cognitive decline. Thus, it is fuelling the consumption of dietary supplements as people are more aware of its benefits. Hence, such factors are expected to drive market growth during the forecast period.
Major Trends
The increasing demand for personalized supplement solutions is a primary trend in the market during the forecast period. The rising number of online retailers and manufacturers are providing access to personalization tools and platforms to consumers that enable them to create a customized supplement list, as per the consumer's nutritional requirements, health conditions, and preferences. Some of the data which are collected by the online tools include consumer's supplement regimes, sleep patterns, and daily activities. By leveraging these data, it makes personalized recommendations based on the user's specific needs. Hence, such factors are expected to drive market growth during the forecast period.
Significant Challenges
Consumer distrust stemming from misleading marketing activities is a significant challenge hindering market growth during the forecast period. Several manufacturers and marketing agencies leverage a diverse assortment of advertising strategies to promote the sales of dietary supplements. Some marketing agencies mislead consumers with false advertisements promising faster and better results. Thus first-time consumers face disappointment when these products fail to deliver the desired results as per their expectations. Therefore, such advertisements can hamper the reputation of companies offering these dietary supplements and can negatively impact the market. Hence, such factors are expected to hinder market growth during the forecast period.
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Some of the key Dietary Supplements Market Players:
The dietary supplements market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Abbott Laboratories, Amway Corp., Archer Daniels Midland Co., Arkopharma Laboratories, Bayer AG, Carlyle Nutritionals LLC, Glanbia plc, Haleon Plc, Herbalife International of America Inc., Natures Sunshine Products Inc., Natures Way Products LLC, NOW Health Group Inc., Nu Skin Enterprises Inc., NutriGold Inc., Orgenetics Inc., Pfizer Inc., Reckitt Benckiser Group PLC, Sanofi SA, Suntory Holdings Ltd., and OtsUKa Holdings Co. Ltd.
Dietary Supplements Market: Segmentation Analysis
This market is segmented by product (vitamins, combination, fatty acids, probiotics, and others), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
The market share growth by the vitamin segment is significant during the forecast period. This segment is essential for maintaining good health, as their deficiency can result in various disorders. There is an increasing demand for vitamin supplements due to their importance in maintaining health. Furthermore, there is a high consumption of vitamin D supplements in Scandinavia, due to increasing deficiency. Furthermore, the disorders such as osteoporosis and immune system malfunction are caused by the deficiency of minerals such as calcium, iron, and zinc. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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- Companies covered
- Company classification
- Market positioning of companies
- Competitive scenario
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Dietary Supplements Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.16% |
Market growth 2023-2027 |
USD 61.4 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
7.04 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 51% |
Key countries |
US, China, Japan, UK, and Italy |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Amway Corp., Archer Daniels Midland Co., Arkopharma Laboratories, Bayer AG, Carlyle Nutritionals LLC, Glanbia plc, Haleon Plc, Herbalife International of America Inc., Natures Sunshine Products Inc., Natures Way Products LLC, NOW Health Group Inc., Nu Skin Enterprises Inc., NutriGold Inc., Orgenetics Inc., Pfizer Inc., Reckitt Benckiser Group PLC, Sanofi SA, Suntory Holdings Ltd., and OtsUKa Holdings Co. Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (USD billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (USD billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global dietary supplements market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global dietary supplements market 2017 - 2021 (USD billion)
- 4.2 Product Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 (USD billion)
- 4.3 Distribution Channel Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 (USD billion)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (USD billion)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (USD billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Product
- 6.1 Market segments
- Exhibit 30: Chart on Product - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
- 6.2 Comparison by Product
- Exhibit 32: Chart on Comparison by Product
- Exhibit 33: Data Table on Comparison by Product
- 6.3 Vitamins - Market size and forecast 2022-2027
- Exhibit 34: Chart on Vitamins - Market size and forecast 2022-2027 (USD billion)
- Exhibit 35: Data Table on Vitamins - Market size and forecast 2022-2027 (USD billion)
- Exhibit 36: Chart on Vitamins - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Vitamins - Year-over-year growth 2022-2027 (%)
- 6.4 Combination - Market size and forecast 2022-2027
- Exhibit 38: Chart on Combination - Market size and forecast 2022-2027 (USD billion)
- Exhibit 39: Data Table on Combination - Market size and forecast 2022-2027 (USD billion)
- Exhibit 40: Chart on Combination - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Combination - Year-over-year growth 2022-2027 (%)
- 6.5 Fatty acids - Market size and forecast 2022-2027
- Exhibit 42: Chart on Fatty acids - Market size and forecast 2022-2027 (USD billion)
- Exhibit 43: Data Table on Fatty acids - Market size and forecast 2022-2027 (USD billion)
- Exhibit 44: Chart on Fatty acids - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Fatty acids - Year-over-year growth 2022-2027 (%)
- 6.6 Probiotics - Market size and forecast 2022-2027
- Exhibit 46: Chart on Probiotics - Market size and forecast 2022-2027 (USD billion)
- Exhibit 47: Data Table on Probiotics - Market size and forecast 2022-2027 (USD billion)
- Exhibit 48: Chart on Probiotics - Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Probiotics - Year-over-year growth 2022-2027 (%)
- 6.7 Others - Market size and forecast 2022-2027
- Exhibit 50: Chart on Others - Market size and forecast 2022-2027 (USD billion)
- Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 (USD billion)
- Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)
- 6.8 Market opportunity by Product
- Exhibit 54: Market opportunity by Product (USD billion)
7 Market Segmentation by Distribution Channel
- 7.1 Market segments
- Exhibit 55: Chart on Distribution Channel - Market share 2022-2027 (%)
- Exhibit 56: Data Table on Distribution Channel - Market share 2022-2027 (%)
- 7.2 Comparison by Distribution Channel
- Exhibit 57: Chart on Comparison by Distribution Channel
- Exhibit 58: Data Table on Comparison by Distribution Channel
- 7.3 Offline - Market size and forecast 2022-2027
- Exhibit 59: Chart on Offline - Market size and forecast 2022-2027 (USD billion)
- Exhibit 60: Data Table on Offline - Market size and forecast 2022-2027 (USD billion)
- Exhibit 61: Chart on Offline - Year-over-year growth 2022-2027 (%)
- Exhibit 62: Data Table on Offline - Year-over-year growth 2022-2027 (%)
- 7.4 Online - Market size and forecast 2022-2027
- Exhibit 63: Chart on Online - Market size and forecast 2022-2027 (USD billion)
- Exhibit 64: Data Table on Online - Market size and forecast 2022-2027 (USD billion)
- Exhibit 65: Chart on Online - Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on Online - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Distribution Channel
- Exhibit 67: Market opportunity by Distribution Channel (USD billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 69: Chart on Market share by geography 2022-2027 (%)
- Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 71: Chart on Geographic comparison
- Exhibit 72: Data Table on Geographic comparison
- 9.3 APAC - Market size and forecast 2022-2027
- Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 (USD billion)
- Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 (USD billion)
- Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.4 North America - Market size and forecast 2022-2027
- Exhibit 77: Chart on North America - Market size and forecast 2022-2027 (USD billion)
- Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 (USD billion)
- Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.5 Europe - Market size and forecast 2022-2027
- Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 (USD billion)
- Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 (USD billion)
- Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 85: Chart on South America - Market size and forecast 2022-2027 (USD billion)
- Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 (USD billion)
- Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 (USD billion)
- Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (USD billion)
- Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 US - Market size and forecast 2022-2027
- Exhibit 93: Chart on US - Market size and forecast 2022-2027 (USD billion)
- Exhibit 94: Data Table on US - Market size and forecast 2022-2027 (USD billion)
- Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.9 China - Market size and forecast 2022-2027
- Exhibit 97: Chart on China - Market size and forecast 2022-2027 (USD billion)
- Exhibit 98: Data Table on China - Market size and forecast 2022-2027 (USD billion)
- Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.10 Japan - Market size and forecast 2022-2027
- Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 (USD billion)
- Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 (USD billion)
- Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 9.11 UK - Market size and forecast 2022-2027
- Exhibit 105: Chart on UK - Market size and forecast 2022-2027 (USD billion)
- Exhibit 106: Data Table on UK - Market size and forecast 2022-2027 (USD billion)
- Exhibit 107: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 108: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.12 Italy - Market size and forecast 2022-2027
- Exhibit 109: Chart on Italy - Market size and forecast 2022-2027 (USD billion)
- Exhibit 110: Data Table on Italy - Market size and forecast 2022-2027 (USD billion)
- Exhibit 111: Chart on Italy - Year-over-year growth 2022-2027 (%)
- Exhibit 112: Data Table on Italy - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 113: Market opportunity by geography (USD billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 114: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 116: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 117: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 118: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 119: Matrix on vendor position and classification
- 12.3 Abbott Laboratories
- Exhibit 120: Abbott Laboratories - Overview
- Exhibit 121: Abbott Laboratories - Business segments
- Exhibit 122: Abbott Laboratories - Key news
- Exhibit 123: Abbott Laboratories - Key offerings
- Exhibit 124: Abbott Laboratories - Segment focus
- 12.4 Amway Corp.
- Exhibit 125: Amway Corp. - Overview
- Exhibit 126: Amway Corp. - Product / Service
- Exhibit 127: Amway Corp. - Key offerings
- 12.5 Archer Daniels Midland Co.
- Exhibit 128: Archer Daniels Midland Co. - Overview
- Exhibit 129: Archer Daniels Midland Co. - Business segments
- Exhibit 130: Archer Daniels Midland Co. - Key offerings
- Exhibit 131: Archer Daniels Midland Co. - Segment focus
- 12.6 Arkopharma Laboratories
- Exhibit 132: Arkopharma Laboratories - Overview
- Exhibit 133: Arkopharma Laboratories - Product / Service
- Exhibit 134: Arkopharma Laboratories - Key offerings
- 12.7 Bayer AG
- Exhibit 135: Bayer AG - Overview
- Exhibit 136: Bayer AG - Business segments
- Exhibit 137: Bayer AG - Key news
- Exhibit 138: Bayer AG - Key offerings
- Exhibit 139: Bayer AG - Segment focus
- 12.8 Carlyle Nutritionals LLC
- Exhibit 140: Carlyle Nutritionals LLC - Overview
- Exhibit 141: Carlyle Nutritionals LLC - Product / Service
- Exhibit 142: Carlyle Nutritionals LLC - Key offerings
- 12.9 Glanbia plc
- Exhibit 143: Glanbia plc - Overview
- Exhibit 144: Glanbia plc - Business segments
- Exhibit 145: Glanbia plc - Key offerings
- Exhibit 146: Glanbia plc - Segment focus
- 12.10 Haleon Plc
- Exhibit 147: Haleon Plc - Overview
- Exhibit 148: Haleon Plc - Product / Service
- Exhibit 149: Haleon Plc - Key offerings
- 12.11 Herbalife International of America Inc.
- Exhibit 150: Herbalife International of America Inc. - Overview
- Exhibit 151: Herbalife International of America Inc. - Product / Service
- Exhibit 152: Herbalife International of America Inc. - Key offerings
- 12.12 Natures Sunshine Products Inc.
- Exhibit 153: Natures Sunshine Products Inc. - Overview
- Exhibit 154: Natures Sunshine Products Inc. - Business segments
- Exhibit 155: Natures Sunshine Products Inc. - Key offerings
- Exhibit 156: Natures Sunshine Products Inc. - Segment focus
- 12.13 Natures Way Products LLC
- Exhibit 157: Natures Way Products LLC - Overview
- Exhibit 158: Natures Way Products LLC - Product / Service
- Exhibit 159: Natures Way Products LLC - Key offerings
- 12.14 NOW Health Group Inc.
- Exhibit 160: NOW Health Group Inc. - Overview
- Exhibit 161: NOW Health Group Inc. - Product / Service
- Exhibit 162: NOW Health Group Inc. - Key offerings
- 12.15 Orgenetics Inc.
- Exhibit 163: Orgenetics Inc. - Overview
- Exhibit 164: Orgenetics Inc. - Product / Service
- Exhibit 165: Orgenetics Inc. - Key offerings
- 12.16 Pfizer Inc.
- Exhibit 166: Pfizer Inc. - Overview
- Exhibit 167: Pfizer Inc. - Product / Service
- Exhibit 168: Pfizer Inc. - Key news
- Exhibit 169: Pfizer Inc. - Key offerings
- 12.17 Suntory Holdings Ltd.
- Exhibit 170: Suntory Holdings Ltd. - Overview
- Exhibit 171: Suntory Holdings Ltd. - Business segments
- Exhibit 172: Suntory Holdings Ltd. - Key offerings
- Exhibit 173: Suntory Holdings Ltd. - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 174: Inclusions checklist
- Exhibit 175: Exclusions checklist
- 13.3 Currency conversion rates for USUSD
- Exhibit 176: Currency conversion rates for USUSD
- 13.4 Research methodology
- Exhibit 177: Research methodology
- Exhibit 178: Validation techniques employed for market sizing
- Exhibit 179: Information sources
- 13.5 List of abbreviations
- Exhibit 180: List of abbreviations
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