Dietary Supplements Market Size, Share & COVID-19 Impact Analysis, By Type (Vitamins, Minerals, Enzymes, Fatty Acids, Proteins, and Others), Form (Tablets, Capsules, Liquids, and Powders), and Regional Forecasts, 2021-2028

The global dietary supplements market size was USD 61.20 billion in 2020 and is projected to grow from USD 71.81 billion in 2021 to USD 128.64 billion in 2028 at a CAGR of 8.68% during the forecast period 2021-2028. North America dominated the global market with a share of 25.32% in 2020.

Based on the analysis, the global market exhibited a stellar growth of 26.9% in 2020. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over. The global impact of COVID-19 has been unprecedented and staggering, with dietary supplements witnessing a positive demand shock across all regions amid the pandemic

Dietary supplements are defined as products that contain at least one dietary ingredient and can be consumed orally. The rising popularity of sports-based and athletic performance-enhancement supplements drives the global market. The emerging consumer needs to address daily requirements of micronutrients in the body, and increased consumer spending on health & wellness products is expected to fuel the food supplements market. Furthermore, initiatives taken by several governments to support the production of herbal supplements are expected to impact market growth positively. For instance, in July 2020, the Indian government announced an economic stimulus package under the Atmanirbhar Bharat Abhiyan and allocated USD 535 million to the herbal sector to promote herbal cultivation.

COVID-19 Outbreak Surges the Demand for Immunity-Boosting Dietary Supplement Products

The sudden outbreak of the coronavirus pandemic has positively impacted the market growth. The long-term ramifications are still hard to forecast, as the global economy is struggling with this pandemic situation, and it can impact the global trade and supply chain of dietary supplement products. However, the high demand for human food supplements in developed as well as developing regions, since they provide a strong immune function and reduce the possibility of health threats, is expected to leverage the product growth throughout the forecast period positively.

Since the beginning of the pandemic, the increased threat of COVID-19 infection has encouraged consumers to incorporate immune-boosting products and supplements in their daily lives. This is serving as an opportunity for these supplement manufacturers. Moreover, the availability of a wide range of dietary additives across e-commerce platforms and the cost-effectiveness of basic product varieties such as minerals and vitamin supplements contribute to boosting the market size.

DIETARY SUPPLEMENTS MARKET TRENDS

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Rising Demand for Personalized Supplements to Augment Market Growth

Rising awareness about the concept of personalized or tailor-made nutritional products and dietary supplements has ignited the interest of consumers across different parts of the globe and is impacting the growth of the dietary additives market positively. Technological advancements and increased investment in the research & development of nutraceuticals and supplement products are expected further to boost the market growth in the upcoming years. For instance, in January 2019, Nestle S.A. opened its first R&D centre in Ireland with an investment of USD 31.46 million. The new R&D centre will focus on scientific research to support novelties in developing infant nutrition products and milk-based materials for the global market.

DRIVING FACTORS

Rising Focus on Preventive Healthcare Measures to Favor Growth

With the increasing prevalence of age and lifestyle-related diseases, consumers are becoming increasingly conscious of preventive healthcare measures. They hence are inclining towards health-benefitting products such as food additives, which is expected to drive the global market. Increasing innovation by key as well as small market players is further augmenting the growth of the market at the global level. For instance, in March 2018, The GHT companies announced the launch of a new product line of 100% vegan nutritives. The new products are manufactured to meet the increasing demand for animal-free plant-based products that aid weight management.

Growing Focus on Quality Supplements Production to Spur Demand

Various initiatives are taken by regulatory authorities such as the Food and Drug Administration of the U.S. (USFDA) to ensure only high-quality and safe dietary and food supplements are sold in the market to promote the use of dietary supplements among consumers. Furthermore, increasing usage of clean-labeled, safe, and organic ingredients in the production of food nutritive additives is projected to enhance the market demand for these supplements during the forecast years.

Another growth-promoting factor for the human dietary supplements market is the increasing interest of people in sports and bodybuilding. Athletes and sportspersons are becoming increasingly interested in sports nutrition products and supplements to enhance their endurance and boost their performance. The inclination towards sports nutrition products and vitamin nutritives for their endurance enhancement and performance-enhancing factors will bode well for the market in the forthcoming years.

RESTRAINING FACTORS

High Price of the Dietary Supplements to Restrain Market Growth

The increasing price of regular supplements and the high price of premiumized supplements are expected to restrain the growth of the dietary supplements market. The rising consumer inclination towards organic products and the limited availability of organic supplements can further hamper the market growth. However, supplement manufacturers are embarking on technological advancement to minimize the production cost of the product to make products available for consumers at affordable prices.

SEGMENTATION

By Type Analysis

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Vitamin Supplements to Lead Global Marketplace

Among various types of dietary supplements, vitamins are the most widely consumed supplements across the globe, followed by minerals and proteins. In many developed and developing countries, the deficiency of vital vitamins such as Vitamin A, B, C, and E among the population is becoming very common, and hence to fulfill the required daily dose of vitamins, consumers are highly inclined towards vitamin supplements.

In pregnant women, the elderly, and some adults, a lack of certain minerals can lead to serious health diseases due to which the demand for mineral additives is increasing rapidly among the aforementioned population group. Protein supplements are expected to witness high demand in the forthcoming years owing to the rising consumer inclination towards weight management, bodybuilding, and endurance. The protein and amino acid additives are predicted to grow at a speedy pace on account of their diverse use in muscle growth, fatigue reduction, increased mental focus, and improved recovery.

By Form Analysis

Tablet Form of Supplements to Hold a Prominent Share in the Market

Globally, the tablet form is the leading form in the global supplements market, followed by capsules. High affordability, convenient packaging, and higher shelf-life of tablet and capsule supplements are some of the crucial reasons behind their high demand in the global market. The dosage is well-defined in capsules, soft gel, and tablet form, and hence they are preferred over liquid and other available forms. Furthermore, the surging demand for protein supplements is predicted to create a massive scope of growth for powder supplements, as most of the protein supplements available in the market are present in powder form.

The demand for liquid supplements with functional properties is rising, and hence dietary supplement manufacturers are investing in this area to gain maximum profits. The high absorption rate of liquid vitamins, high bioavailability of liquid supplements, and easy-to-promote synergy of nutrients with liquid supplements are predicted to support the growth of the segment.

REGIONAL INSIGHTS

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Increasing Health-consciousness in Asia Pacific to Promote Growth

The Asia Pacific global market will register the fastest compound annual growth rate of 9.02% during 2021-2028 owing to the increasing health-consciousness among consumers, which is motivating them to adopt health-enhancing supplement products in their daily life. The demand for nutritional supplements is increasing at a rapid pace in highly populated countries of the region, such as China and India. The rising awareness about the concept of personalized nutrition is predicted to enhance the consumer base for food supplements across the region. Moreover, increased interest of key international market players in expanding their production bases and product portfolio across Asian and Southeast Asian countries such as South Korea, Malaysia, India, China, and others due to high population density is anticipated to give a boost to the regional market growth.

Dietary supplement products in North America are witnessing a surge in demand on account of the rising prevalence of lifestyle diseases such as obesity, diabetes, and others. The increasing aging population, hectic lifestyle, and positive attitude towards preventive healthcare measures are some of the factors that are fueling the market across the region. In the U.S., the adoption of food supplements is incredibly high due to a higher emphasis on wellness and the significant presence of fitness enthusiasts who are willing to purchase health benefitting products. Moreover, to ensure only high-quality and safe supplements are available in the U.S. marketplace, regulatory attention to the commercialization of these products has been enhanced in recent years.

The European market is driven by the rapidly rising geriatric population, followed by increased consumer consciousness and awareness of preventive healthcare solutions. The stringent regulatory framework associated with the commercialization and sales of dietary supplements is further supporting the market growth of quality supplements across the region.

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The South American market has been witnessing substantial growth in the past few years, attributed to a series of factors, including the rising middle-class population, increasing adoption of healthier lifestyles among the population, and rising product launches across the region. In countries such as Brazil and Argentina, along with traditional supplements, the demand for herbal supplements is also growing at a speedy pace which is a positive factor for the growth of the market. Moreover, in MEA countries such as South Africa, the UAE, Saudi Arabia, and others, the increasing consumer desirability to reduce their risk of illness and increasing health expenditure is predicted to support the market growth.

DIETARY SUPPLEMENTS INDUSTRY KEY PLAYERS

Industry key Players Focus on Expanding Their Product Portfolio

Earlier, the human supplements product portfolio was less diversified, but with the change in time and increase in product demand, the market players such as Amway, Abbott, and others have started diversifying their product portfolio.

Nutrition and healthcare product giant Amway Corp is focusing on product innovation, adoption of effective sales and marketing strategies, and collaboration with other small and relevant market players to increase its significance in the global marketplace. For instance, in July 2019, Amway India announced the launch of the calcium supplement “Nutrilite Cal Mag D Plus” in the country. The supplement is designed to support bone health by offering required nutrients such as zinc, magnesium, and manganese to the body. In December 2019, Amway India expanded its popular Nutrilite Traditional Herbs range with the launch of Shunti & Tweak, Mulethi & Surasa, Nutrilite Madhunashini, and Nutrilite Vasaka. The products support healthy glucose metabolism, glucose health, and normal pancreatic function.

LIST OF KEY COMPANIES PROFILED:

• Amway Corp (Michigan, U.S.)


• Abbott (Illinois, U.S.)


• Nestle S.A. (Vevey, Switzerland)


• Herbalife Nutrition Ltd. (California, U.S.)


• Archer Daniels Midland Company (Illinois, U.S.)


• Glanbia Nutritionals (Illinois, U.S.)


• Otsuka Holdings Co. Ltd. (Tokyo, Japan)


• Arkopharma (Carros, France)


• Pfizer Inc. (New York, U.S.)


• GlaxoSmithKline plc (Brentford, U.K.)

KEY INDUSTRY DEVELOPMENTS:

• In April 2021, Persona Nutrition, a prominent personalized vitamin program, announced the launch of the globe’s first daily gummy vitamin packs for the whole family. These vitamin packs are designed to address various health goals, including relaxation, immune health, skin health, focus enhancement, and everyday health support.


• In April 2020, DSM, one of the leading food supplement producers and distributors, announced the complete acquisition of Glycom, a major pioneer in Human Milk Oligosaccharides. This acquisition can help DSM to increase its footprint in the global dietary supplement market.


• In January 2020, Herbalife Nutrition introduced a new product Beta Heart. The product is specifically designed to maintain cholesterol levels in the blood. A vanilla-flavored product, Beta Heart, is available in a 15-gram sachet. 

Report Coverage

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The research report provides qualitative and quantitative insights on this market and a detailed analysis of market size and growth rate for all possible segments in the market. Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the overview of related markets, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, and key dietary supplements market trends.

Scope & Segmentation