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Dietary Supplements Market to Reach USD 128.64 Billion by 2028; Escalating Demand for Personalized Supplements to Amplify Market Growth: Says Fortune Business InsightsTM

January 13, 2022 | Food & Beverages

The global dietary supplements market size is predicted to exhibit astonishing growth by reaching USD 128.64 billion by 2028. Fortune Business InsightsTM in its report titled “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”, observes that the market size stood at USD 61.20 billion in 2020 and is expected to register a CAGR of 8.68% between 2021 and 2028. The market is also predicted to reach USD 71.81 billion in 2021.The escalating demand for personalized supplements and the rising emphasis on quality supplements are predicted to foster market growth.


Evonik’s New Anthocyanin Food Supplement to Incite Development


In June 2020, Evonik, Germany, launched Medox, an anthocyanin food supplement to support blood vessels’ health. The supplement includes highly concentrated plant pigments from Scandinavian blackcurrants and bilberries. The product is widely available at online and offline pharmacies across Germany. The plant extracts from the Scandinavian blackcurrants and bilberries have antioxidant properties that enhance blood circulation. The company aims to cater to the aging population and provide sustainable & healthy nutrition globally.


Rising Emphasis on Quality Supplement Production to Fuel Market Growth


The growing emphasis on preventive healthcare measures shall aid market growth. The rising consumer consciousness towards preventive healthcare measures due to the escalating prevalence of lifestyle and age-related diseases is likely to boost the global market growth. The rising use of organic, clean-labeled, and safe ingredients in food supplement production is likely to favor the market growth. The rising emphasis on the production of quality supplements is likely to amplify the global dietary supplements market growth. Additionally, the rising preference of sportspersons for food supplements to enhance endurance and performance is projected to complement the global market growth.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/dietary-supplements-market-102082


Market Players Adopt Ingenious Strategies to Amplify Market Presence


The major market players emphasize diversifying their product portfolios by launching innovative products. They adopt collaborations, product innovation, new product launches, partnerships, acquisitions, mergers, and other growth strategies to augment their consumer bases and market presence. For instance, GNC partnered with Renmintongtai, a Harbin Pharmaceutical Group’s pharmacy chain, in January 2020. The company also unveiled four ‘blue hat’ products.


Industry Development-



  • June 2020: Evonik, Germany, launched Medox, an anthocyanin food supplement to support blood vessels’ health. The supplement includes highly concentrated plant pigments from Scandinavian blackcurrants and bilberries.


List of Key Players in the Global Dietary Supplements Market:



  • 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.)


Further Report Findings-



  • The market size in North America stood at USD 15.50 billion in 2020 and is anticipated to hold remarkable dietary supplements market share during the forecast period. The increasingly hectic lifestyles, aging population, obesity, and other diseases are expected to stimulate growth in the region. Additionally, the strict regulatory guidelines to supply safe and high-quality supplements in the U.S. are predicted to aid market growth.

  • According to the segmentation based on type, the vitamins segments is anticipated to register the highest growth, being the most widely consumed supplement globally.


Table of Segmentation:












































ATTRIBUTE



  DETAILS



Study Period



 2017-2028



Base Year



 2020



Estimated Year


  2021

Forecast Period



 2021-2028



Historical Period



 2017-2019



Unit



 Value (USD Billion)



Segmentation



By Type



  • Vitamins

  • Minerals

  • Enzymes

  • Fatty Acids

  • Proteins

  • Others



By Form



  • Tablets

  • Capsules

  • Liquids

  • Powders



By Region



  • North America (By Form, Type, and By Country)

    • U.S. (By Form)

    • Canada (By Form)

    • Mexico (By Form)



  • Europe (By Form, Type, and By Country)

    • U.K. (By Form)

    • France (By Form)

    • Italy (By Form)

    • Spain (By Form)

    • Germany (By Form)

    • Rest of Europe (By Form)



  • Asia Pacific (By Form, Type, and By Country)

    • China (By Form)

    • India (By Form)

    • Japan (By Form)

    • Australia (By Form)

    • Rest of Asia Pacific (By Form)



  • South America (By Form, Type, and By Country)

    • Brazil (By Form)

    • Argentina (By Form)

    • Rest of South America (By Form)



  • Middle East & Africa (By Form, Type, and By Country)

    • South Africa (By Form)

    • UAE (By Form)

    • Rest of the MEA (By Form)




Dietary Supplements Market
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  • 2017-2019
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