Dietary Supplements Market Research Report: Overview & Analysis to 2031

Posted by Akshay Solanki on April 22nd, 2022

Shifting consumer preferences, rising health awareness, a growing senior population, and the adoption of a balanced diet are all driving the market for dietary supplements. The convergence of important business trends has created new opportunities for key industry participants. One of the key elements fueling the need for dietary supplements is changing lifestyles and food habits. The market for dietary supplements would benefit from the growing positive perspective on sports nutrition.

Due to customers’ larger spending capacity, the United States has emerged as a key market for dietary supplements. Over the projected period, rising healthcare spending, a growing senior population, rising interest in preventative healthcare, and increased interest in achieving wellness via nutrition are expected to boost Dietary Supplements Market growth.

Because of the popularity of omega-3-based supplements, the vitamin segment is rising continuously, whereas the fatty acid segment is the fastest growing supplement section.

Asia-Pacific is the dietary supplement market’s fastest-growing region, owing to significant investment prospects, particularly in herbal and Ayurveda extract-based products.

COVID-19 Impact

The COVID-19 pandemic has primarily afflicted North America and European countries such as the United States, Italy, Spain, the United Kingdom, France, and Germany. The nutritional supplement sector is heavily focused in these areas, which benefited from the scenario as the market for immunity-boosting supplements saw a boom in demand.

The increasing threat of covid 19 infection has pushed people to incorporate immune-boosting goods and supplements into their daily life since the start of the pandemic. This presents a business opportunity for supplement manufacturers. Furthermore, the cost-effectiveness of fundamental product kinds such as minerals and vitamin supplements, as well as the availability of a wide range of dietary additives via e-commerce platforms, contribute to the market’s growth.

Key Trends and Drivers:

• As the prevalence of age-related and lifestyle-related disorders rises, consumers are becoming more aware of preventative health care measures and, as a result, are gravitating toward health-beneficial products such as food additives, which is predicted to boost the global market.
• Consumers in all regions are becoming more health-conscious, which is propelling the dietary supplement industry forward. Another significant driver expected to fuel the total market is the aging population of various nations, such as Japan, Italy, Portugal, and Germany.
• Probiotics are a major player in the burgeoning nutritional supplement market, with people of all ages taking them.
• However, millennials consume the most due to a growing knowledge of health and wellbeing through multi-channel advertising, which has a significant impact on their consumption patterns.

Restraints and Challenges:

• People are benefiting from advances in technology and science by having access to weight-loss supplements. 
• However, these supplements are expensive, and not everyone can afford them, particularly in developing countries. 
• And it has the potential to be a big market constraint.
• Dietary supplement manufacturing necessitates high-cost research and customization. That is why they are costly, and the fact that these supplements are less priced could hurt their market. People in rural areas are unaware of these products, and even if they are, they are unwilling to pay a high price for them, posing a challenge to the worldwide market.

Segmentation:

By Type

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

By Target

• Infant
• Children
• Adult
• Pregnant women
• Elderly

By Application

• Energy & Weight Management
• General Health
• Bone & Joint Health
• Gastrointestinal Health
• Immunity
• Cardiac Health
• Diabetes
• Anti-cancer
• Lungs Detox/Cleanse
• Skin/Hair/Nails
• Sexual Health
• Brain/Mental Health
• Insomnia
• Menopause
• Anti-aging
• Prenatal Health

By Distribution Channel 

• Supermarkets
• Pharmacies
• Specialty Stores
• Practitioner
• Online

Key Players:

• Amway Corp.
• Glanbia PLC
• Abbott
• Bayer AG
• Pfizer Inc.
• Herbalife Nutrition
• Nature’s Sunshine Products
• Carlyle Group
• Bio-Botanica Inc.
• American Health

Read More Interesting fact about this Insights: https://www.globalinsightservices.com/reports/dietary-supplements-market/