Dietary Supplements Market Set to Surpass USD 316.53 Billion by 2030 Fueled by Rising Health Awareness

"According to SNS Insider, the Dietary Supplements Market valued at USD164.81 billion in 2022, is projected to reach USD 316.53 billion by 2030, with a compound annual growth rate (CAGR) of 8.5% during the forecast period from 2023 to 2030"

Market Report Scope:
Dietary supplements encompass various substances such as fibers, vitamins, minerals, botanical, proteins, and amino acids, offered in forms like tablets, capsules, powders, and liquids. These supplements cater to consumers' nutritional needs and contribute to maintaining a healthy lifestyle. Increasing consumer awareness regarding personal health and wellness is expected to drive market growth. Dietary supplements can be conveniently incorporated into daily routines and meals to supplement nutritional requirements effectively.

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Major Players Listed in this Report are:
- Amway Corp
- Glanbia PLC
- Abbott
- Bayer AG
- Pfizer Inc
- ADM
- Nu Skin Enterprises, Inc
- GlaxoSmithKline plc
- Bionova
- Ayanda
- Arkopharma
- Herbalife International of America, Inc
- Nature's Sunshine Products, Inc

Market Analysis:
The dietary supplements market is propelled by several factors including increasing health consciousness among consumers, rising disposable incomes, and growing urbanization. The market also benefits from expanding distribution channels both offline and online. Moreover, with the surge in demand for products promoting digestive and immune health during the COVID-19 pandemic, the market witnessed significant growth, leading to numerous product launches to meet the escalating demand.

Segment Analysis:
Among the various segments, vitamins dominate the market due to their essential role in maintaining overall health. Consumers are increasingly opting for vitamins to address specific health concerns and deficiencies. Additionally, capsules are the preferred form of dietary supplements owing to their convenience and ease of consumption. In terms of application, supplements for energy and weight management hold the largest market share, driven by the rising prevalence of lifestyle-related disorders and increasing fitness awareness.

By Ingredient:
- Vitamins
- Botanicals
- Minerals
- Proteins & Amino Acids
- Fibers & Specialty Carbohydrates
- Omega Fatty Acids

By Form:
- Tablets
- Capsules
- Soft gels
- Powders
- Liquids

By Application:
- Energy & Weight Management
- General Health
- Bone & Joint Health
- Gastrointestinal Health
- Immunity
- Cardiac Health
- Diabetes
- Anti-cancer
- Lungs Detox/Cleanse
- Skin/Hair/Nails
- Sexual Health
- Brain/Mental Health
- Insomnia
- Menopause
- Anti-aging
- Prenatal Health

By End-user:
- Adults
- Geriatric
- Pregnant Women
- Children
- Infants

By Type:
- OTC
- Prescribed

By Distribution Channel:
- Offline
- Hypermarkets/Supermarkets
- Pharmacies
- Specialty Stores
- Practioner
- Online

Impact of Russia-Ukraine War:
The ongoing conflict between Russia and Ukraine has disrupted the global supply chain, leading to fluctuations in raw material prices and impacting the production and distribution of dietary supplements. This has resulted in supply shortages and increased manufacturing costs, subsequently affecting market growth.

Impact of Economic Slowdown:
The economic slowdown has led to reduced consumer spending on discretionary items, including dietary supplements. As consumers prioritize essential goods over non-essential ones, the demand for supplements has experienced a decline. Additionally, uncertainties in the global economy have affected investment patterns, further impacting market growth.

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Key Regional Development:
North America currently dominates the dietary supplements market, driven by increased consumption of products with high nutritional value and low calorie content. The region is witnessing growing awareness about supplement usage, particularly in countries like Mexico. In the Asia Pacific, the market is expected to witness significant growth, fueled by expanding consumer base and rising disposable incomes. Europe also holds a substantial market share, attributed to higher consumer awareness and disposable incomes in developed countries like France, Germany, and the U.K.

Key Takeaways for Dietary Supplements Market Study:
- Rising health consciousness and increasing disposable incomes are driving market growth.
- Vitamins and capsules are the dominant segments in the market.
- North America leads the market, followed by Asia Pacific and Europe.

Recent Developments:
Recent developments in the dietary supplements market include increased emphasis on online sales channels, introduction of innovative product formulations, and strategic partnerships between manufacturers and retailers to expand market reach and enhance product offerings.

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Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US)

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

This release was published on openPR.