The global dietary supplements market size was valued at USD 151.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.9
The U.S emerged as a leading market for dietary supplements in the North American region owing to the higher spending capacity of the consumers. Increasing spending on healthcare products, the rising geriatric population, rising interest in preventive healthcare, and growing interest in attaining wellness through diet are expected to augment market growth over the forecast period. A growing number of fitness centers, health clubs, and gymnasiums coupled with growing awareness about fitness among the youngsters is expected to increase the demand for energy and weight management. Increasing acceptance of sports as a career is expected to increase the demand for sports nutrition which in turn benefits the market for dietary supplements.
Research and development are the key success factor for dietary supplements which requires heavy investments. Also, stringent regulations regarding the health benefits claim and labeling of the products are expected to create challenges for the dietary supplements over the forecast period. The unprecedented outbreak of the COVID-19 pandemic has largely affected North America and European countries such as the U.S, Italy, Spain, the U.K, France, and Germany. The dietary supplement industry is largely concentrated in these regions which in turn benefitted from the situation as the market witnessed a surge in demand for immunity-boosting supplements.
Vitamin as an ingredient dominated the dietary supplement market and accounted for more than 30.8
The proteins and amino acids segment is expected to witness the highest CAGR of 13.4
The tablets segment led the dietary supplements market and accounted for 33.6
A large number of brands including Optimum Nutrition, Quest Nutrition, NOW Foods, and MusclePharm are involved in the manufacturing of powders of protein, omega-3, minerals, and vitamin blends. Increasing demand for supplements in powder form from bodybuilders, elite athletes, and fitness enthusiasts is expected to boost the powdered dietary supplements over the forecast period. The liquid form is anticipated to witness the highest revenue CAGR of 12.1
The energy and weight management application segment led the market for dietary supplements and accounted for a revenue share of 30.6
Increasing awareness regarding gut health owing to the increasing prevalence of irritable bowel syndrome, constipation, acid reflux, and indigestion around the globe is expected to drive the demand for fibers and specialty carbohydrates from the gastrointestinal health application over the forecast period. Revenue from immunity application is anticipated to witness a CAGR of 8.8
The OTC type segment dominated the market for dietary supplements and accounted for the largest revenue share of 75.7
The prescribed dietary supplements segment is expected to register a CAGR of 9.8
The adult segment dominated the market and accounted for the largest revenue share of 46.6
A growing number of geriatric populations in the regions like North America, Europe, and the Asia Pacific is expected to augment market growth over the forecast period. With the geriatric population being susceptible to several infections, the demand for immunity boosters from these end-users in the covid-19 pandemic is expected to grow at a higher rate. Growing awareness regarding the nutritional requirements for children and infants is expected to augment the demand for dietary supplements. The growing working population and increasing per capita income in the developing economies are expected to increase consumer spending on infant nutrition over the forecast period which is expected to drive the market.
Distribution Channel Insights
The offline segment dominated the market and accounted for the largest revenue share of 81.0