Dietary Supplements Market by Function, Product, Formulation, Distribution, End User

List of Tables

The Dietary Supplements Market was valued at USD 105.13 billion in 2023, expected to reach USD 111.94 billion in 2024, and is projected to grow at a CAGR of 6.60%, to USD 164.48 billion by 2030.

The market for dietary supplements encompasses a wide scope, including vitamins, minerals, amino acids, botanicals, enzymes, and other products designed to enhance diet and provide consumers with necessary nutrients. Defined broadly, these supplements cater to diverse applications such as general health maintenance, sports nutrition, weight management, and condition-specific support like bone health and digestive wellness. End-use scope is equally vast, ranging from geriatric and pediatric demographics to athletes and adults seeking preventive health measures. The market is propelled by increasing consumer awareness about health and wellness, rising geriatric population, and growing adoption of preventive healthcare practices. Furthermore, e-commerce growth, improving disposable incomes, and expanding urbanization are vital growth stimulants, presenting opportunities particularly in developing regions where consumer purchasing power is on the rise.

KEY MARKET STATISTICS
Base Year [2023]	USD 105.13 billion
Estimated Year [2024]	USD 111.94 billion
Forecast Year [2030]	USD 164.48 billion
CAGR (%)	6.60%

Potential opportunities lie prominently in personalized nutrition and the integration of AI and big data for creating customized supplement solutions, poised to meet specific consumer health needs. Alongside, plant-based and organic supplements are gaining traction due to shifting consumer preferences towards natural and clean-label products. However, market growth faces challenges such as stringent regulatory frameworks and quality control issues that can hinder the introduction of new products. The market is also susceptible to misinformation and skepticism regarding product efficacy and safety, which can affect consumer trust and demand.

Innovative research areas include the development of novel ingredients and delivery systems, such as gummies and nano-emulsions, to enhance bioavailability and consumer experience. Increasing partnerships between research institutions and manufacturers could drive advancements in clinically backed, efficacious products. The dietary supplements market is dynamic, characterized by rapid innovation and a competitive landscape where consumer feedback and evidence-based marketing strategies are critical. Companies should focus on clear labeling and transparent communication to build trust and educate consumers about product benefits, which will facilitate market penetration and growth.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Dietary Supplements Market

The Dietary Supplements Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Huge Base of Aging Population and Changing Lifestyle
- Rise of Self-Directed Consumers and Demand Among Athletes
- Increased Consumer Awareness for Preventative Healthcare
Market Restraints
- Noticeable Incidences of a Product Recall and Adverse Reactions of Dietary Supplement without Prescription
Market Opportunities
- Inclination towards Plant-Extracted Herbal Products
- Rising Availability due to Growing E-Commerce Industry
- Adoption of the Private Label through Innovative Branding and Formulations
Market Challenges
- Regulatory Pressure around Manufacturing, Product Safety, and Efficacy Claim

Porter's Five Forces: A Strategic Tool for Navigating the Dietary Supplements Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Dietary Supplements Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Dietary Supplements Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Dietary Supplements Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Dietary Supplements Market

A detailed market share analysis in the Dietary Supplements Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Dietary Supplements Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Dietary Supplements Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Key Company Profiles

The report delves into recent significant developments in the Dietary Supplements Market, highlighting leading vendors and their innovative profiles. These include Glanbia PLC, Bayer AG, NutraScience Labs, Taisho Pharmaceutical Co., Ltd., UST Corp., Abbott Laboratories, Suntory Group, Himalaya Wellness Company, GlaxoSmithKline PLC, Otsuka Holdings Co. Ltd., American Health, Biomedical Research Laboratories, LLC, Pure Encapsulations, LLC., Dymatize Enterprises LLC, Sabinsa Corporation, ARKOPHARMA Laboratories, Company Limited, Nutraceutical International Corporation, Amway Corporation, Archer-Daniels-Midland Company, Nature's Sunshine Products, Inc., Sanofi S.A., Pragati Biocare Pvt. Ltd.,, Procter & Gamble Health Limited, Herbalife Nutrition Ltd., FANCL Corporation, DuPont de Nemours, Inc., Nestle S.A, and Pfizer Inc..

Market Segmentation & Coverage

This research report categorizes the Dietary Supplements Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Function, market is studied across Anti-cancer, Bone & Joint Health, Cardiac Health, Diabetes, Energy & Weight Management, Gastrointestinal Health, General Health, and Immunity.
Based on Product, market is studied across Calcium, Combination Dietary Supplement, Eye Health Supplement, Fish Oil & Omega Fatty Acid, Ginseng, Herbal Supplement, Mineral, Probiotic, Protein, and Vitamin.
Based on Formulation, market is studied across Capsules, Liquid, Powder, Softgels, and Tablets.
Based on Distribution, market is studied across Online Channel, Pharmacy & Drug Store, and Supermarket & Hypermarket.
Based on End User, market is studied across Adult, Children & Infant, Geriatric, and Pregnant Women.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-4348D129FA35

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Huge Base of Aging Population and Changing Lifestyle
  - 5.1.1.2. Rise of Self-Directed Consumers and Demand Among Athletes
  - 5.1.1.3. Increased Consumer Awareness for Preventative Healthcare
- 5.1.2. Restraints
  - 5.1.2.1. Noticeable Incidences of a Product Recall and Adverse Reactions of Dietary Supplement without Prescription
- 5.1.3. Opportunities
  - 5.1.3.1. Inclination towards Plant-Extracted Herbal Products
  - 5.1.3.2. Rising Availability due to Growing E-Commerce Industry
  - 5.1.3.3. Adoption of the Private Label through Innovative Branding and Formulations
- 5.1.4. Challenges
  - 5.1.4.1. Regulatory Pressure around Manufacturing, Product Safety, and Efficacy Claim
5.2. Market Segmentation Analysis
- 5.2.1. Function: Significant use to maintain bone & joint health
- 5.2.2. Formulation: Increasing penetration of dietary supplement tablets
- 5.2.3. Distribution: Growing availability of dietary supplements on online channels
- 5.2.4. End User: Extensive demand for dietary supplements for elderly population
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental
5.5. Client Customization

6. Dietary Supplements Market, by Function

6.1. Introduction
6.2. Anti-cancer
6.3. Bone & Joint Health
6.4. Cardiac Health
6.5. Diabetes
6.6. Energy & Weight Management
6.7. Gastrointestinal Health
6.8. General Health
6.9. Immunity

7. Dietary Supplements Market, by Product

7.1. Introduction
7.2. Calcium
7.3. Combination Dietary Supplement
7.4. Eye Health Supplement
7.5. Fish Oil & Omega Fatty Acid
7.6. Ginseng
7.7. Herbal Supplement
7.8. Mineral
7.9. Probiotic
7.10. Protein
7.11. Vitamin

8. Dietary Supplements Market, by Formulation

8.1. Introduction
8.2. Capsules
8.3. Liquid
8.4. Powder
8.5. Softgels
8.6. Tablets

9. Dietary Supplements Market, by Distribution

9.1. Introduction
9.2. Online Channel
9.3. Pharmacy & Drug Store
9.4. Supermarket & Hypermarket

10. Dietary Supplements Market, by End User

10.1. Introduction
10.2. Adult
10.3. Children & Infant
10.4. Geriatric
10.5. Pregnant Women

11. Americas Dietary Supplements Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Dietary Supplements Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Dietary Supplements Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Now launches dietary supplement for relaxation, focus and cognitive optimization
- 14.3.2. Evolva and Lehvoss Sign Agreement For Resveratrol Ingredient Distribution In Europe
- 14.3.3. Dr Reddy's Launches Nutritional Gummies To Expand Neutraceutical Portfolio

Companies Mentioned

1. Glanbia PLC
2. Bayer AG
3. NutraScience Labs
4. Taisho Pharmaceutical Co., Ltd.
5. UST Corp.
6. Abbott Laboratories
7. Suntory Group
8. Himalaya Wellness Company
9. GlaxoSmithKline PLC
10. Otsuka Holdings Co. Ltd.
11. American Health
12. Biomedical Research Laboratories, LLC
13. Pure Encapsulations, LLC.
14. Dymatize Enterprises LLC
15. Sabinsa Corporation
16. ARKOPHARMA Laboratories, Company Limited
17. Nutraceutical International Corporation
18. Amway Corporation
19. Archer-Daniels-Midland Company
20. Nature's Sunshine Products, Inc.
21. Sanofi S.A.
22. Pragati Biocare Pvt. Ltd.,
23. Procter & Gamble Health Limited
24. Herbalife Nutrition Ltd.
25. FANCL Corporation
26. DuPont de Nemours, Inc.
27. Nestle S.A
28. Pfizer Inc.