Dietary Supplements Market is Projected to Expand 7.2% CAGR by 2028

September 28 17:50 2022
Dietary Supplements Market is Projected to Expand 7.2% CAGR by 2028
Dietary Supplements Market
The global dietary supplements market size was USD 136.29 Billion in 2020 and is expected to register a revenue CAGR of 7.2% during the forecast period.

The global dietary supplements market size is expected to reach USD 239.46 Billion in 2028 and register a CAGR of 7.2% over the forecast period, according to the latest report by Reports and Data. Major factors driving market revenue growth are rising prevalence of various chronic diseases such as diabetes, blood pressure, malnutrition, and cardiovascular diseases, increasing spending on healthy food, and growing awareness about tailor-made dietary supplements.

Dietary supplements are used to add nutrients to the diet and improve the health status of an individual. Some of the key functions of dietary supplements are energy and weight management, strengthen bone and joint, improve general health, gastrointestinal health, cardio health, immunity, and others.

Dietary supplements are available in a variety of forms such as powders, gel capsules, capsules, tablets, and syrups. Tablet segment accounted for major revenue share in the global market in 2020. This can be attributed to increasing demand for multivitamins in tablet form due to low cost, dose accuracy, longer shelf life, easy to swallow, and others. Asia Pacific is expected to register a relatively faster revenue CAGR as compared to other regions over the forecast period. Increasing geriatric population and rising preference for healthy lifestyle are key factors boosting market revenue growth in this region.

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Some Key Highlights From the Report:

  • In September 2021, Ambrosia-SupHerb announced their partnership with Tikun-Olam. This partnership will help both companies to develop made with Israel’s first dietary supplement line using low-delta-9 tetrahydrocannabinol (THC) and mushroom.

 

  • Vitamins segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing demand for vitamin supplements due to multiple benefits of vitamin such as it helps to supports immune system, reduces anxiety, increases bone strength, improve eyesight, and others.

 

  • North America accounted for significantly larger revenue share in global market in 2020. Growing demand for food with high nutrition and low calories and rising awareness about the various advantages of dietary supplements are major factors driving revenue growth of the North America market.  

 

  • Major players in the market report include Amway, Herbalife Nutrition, ADM, Pfizer, Abbott Laboratories, Arkopharma Laboratories, Bayer, Nature’s Sunshine Products, FANCL, and Bionova Lifesciences.

For the purpose of this report, Reports and Data has segmented the dietary supplements market based on type, function, mode of application, and region:

Type Outlook (Revenue, USD Billion; 2018-2028)

  • Vitamins
  • Minerals
  • Amino acids
  • Botanicals
  • Enzymes
  • Probiotics

 

Function Outlook (Revenue, USD Billion; 2018-2028)

  • Additional
  • Medicinal
  • Sports Nutrition

 

Mode of Application Outlook (Revenue, USD Billion; 2018-2028)

  • Capsules
  • Tablets
  • Liquid
  • Gel Capsules
  • Liquid
  • Powder

 

Regional Outlook (Revenue, USD Billion; 2018-2028)

  • North America 
    • U.S. 
    • Canada 
    • Mexico 
  • Europe 
    • Germany 
    • U.K. 
    • France 
    • Italy 
    • Spain
    • Sweden
    • BENELUX 
    • Rest of Europe 
  • Asia Pacific 
    • China 
    • India 
    • Japan 
    • South Korea 
    • Rest of APAC 
  • Latin America 
    • Brazil 
    • Rest of LATAM 
  • Middle East & Africa 
    • Saudi Arabia 
    • U.A.E. 
    • South Africa
    • Israel 
    • Rest of MEA    

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