PUBLISHER: SkyQuest | PRODUCT CODE: 1205821
PUBLISHER: SkyQuest | PRODUCT CODE: 1205821
Global Dietary Supplements Market was valued at USD 159.2 billion in 2021, and it is expected to reach a value of USD 227.4 billion by 2028, at a CAGR of more than 7.9% over the forecast period (2022- 2028).
The market's expansion can be attributed to rising geriatric populations, good dietary habits, and more health awareness. The market's expansion can be ascribed to two factors: rising disposable income and rising health consciousness.
Top-down and bottom-up approaches were used to estimate and validate the size of the global dietary supplements market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
The global Dietary Supplements market is segmented based on type, distribution channel, form, end user, ingredients, and region. Based on type, the market is segmented into Vitamins, Carotenoids, Minerals (Major Minerals, Trace Minerals), Probiotics, Proteins (Plant Proteins, Animal/Dairy Proteins, Microbe Proteins, Insect Proteins), Amino Acids, Carbohydrates, Fats & Fatty Acid, Lipids, Enzymes, Others. Based on distribution channel, the market is segmented into OTC, Prescription. Based on form, the market is segmented into Tablets, Capsules, Soft gels, Powders, Gummies, Liquids, Others. Based on end user, the market is segmented into Adults, geriatrics, infants, children, and pregnant women. Based on ingredients, the market is segmented into vitamins, botanicals, minerals, proteins & amino acids, fibers & specialty carbohydrates, omega fatty acids,and other. Based on region, the Dietary Supplements market is categorized into North America, Europe, Asia-Pacific, and MEA.
The market for health booster products is anticipated to rise significantly over the coming years as a result of evolving lifestyles, longer workdays, and growing corporate initiatives in this area. The rising personal income and the expanding knowledge of the health advantages of dietary supplements are anticipated to have a substantial positive impact on the global market for dietary supplements. In addition, the business is expected to increase in the future due to better distribution channels and rising consumer health consciousness among young people.
The price of a supplement might vary significantly depending on a component's source (natural or synthetic) and season. Synthetic ingredients are easier to produce and don't need the natural sources from which the functional principles are to be derived from being managed. But compared to natural raw materials, the quality of synthetic raw materials is incomparable. Their bioavailability or the seasonality of their raw materials may also have an impact on the final cost of dietary supplements. The majority of natural ingredients are only sometimes easily available, or their prices may increase during particular months, which has an impact on the cost of making a supplement.
Increased rates of obesity and other health problems may increase demand for dietary supplements and broaden the market. Additionally, the market is projected to be significantly impacted throughout the assessment period due to the growing reliance on supplements to meet nutritional needs due to their high level of convenience. The development of new supplements in the form of capsules, gummies, and chewable items is projected to drive the industry in the near future. Additionally, the COVID-19 outbreak prompted an urgent need to enhance immunity, which is anticipated to cause a surge in the market graph.