Global Dietary Supplements Market - Forecast, Demand, Outlook and Market Research Report

 By- Infinium Global Research

A recently published report by Infinium Global Research dives deep into the global dietary supplements market, dissecting it into various segments and sub-segments. The analysis explores not only the current market landscape but also the influence of both short-term and long-term factors on a regional and global scale. This comprehensive report details market trends, forecasts future growth, and assigns dollar values to the global dietary supplements market.

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Market insights reveal that the global dietary supplements market, valued at USD 165 billion in 2022, is expected to reach a staggering USD 280 billion by 2030. This translates to a compound annual growth rate (CAGR) of 7% over the forecast period. Dietary supplements offer a compelling array of health benefits, including aiding in the treatment of blood pressure, rheumatic diseases, migraines, and arthritis, while also boosting the immune system.

Rising healthcare costs have fueled a consumer desire for preventative measures to maintain good health and minimize medical expenses. This trend coincides with a growing awareness of the importance of a healthy diet, leading to increased consumption of foods with potential health benefits.

The report identifies several key drivers propelling market growth. One significant factor is the rise in awareness regarding preventive healthcare, a proactive approach to health that focuses on preventing illness rather than simply treating it after the fact. Additionally, a growing population experiencing digestive issues, the aging baby boomer demographic, heightened awareness of lifestyle diseases, and a general increase in the global aging population are all expected to contribute to market expansion. However, the path to growth isn't without its obstacles.

Strict government regulations and a lack of widespread knowledge about the health benefits of supplements pose challenges. Furthermore, the presence of unapproved dietary supplements in circulation can create consumer confusion and safety concerns. Despite these hurdles, the market finds promising opportunities in increased research and development funding, the booming e-commerce sector, and the ever-present focus on weight management. Major media channels play a crucial role in spreading awareness about preventive healthcare by promoting nutritious foods and dietary supplements, further bolstering consumer demand.

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Geographically, North America leads the pack in terms of revenue generation within the global dietary supplements market, followed by Europe. This dominance can be attributed to a higher level of awareness about both dietary supplements and the value of preventive healthcare in these regions. The Asia-Pacific region is experiencing the fastest growth due to an increasing focus on proactive personal healthcare practices. Africa and the Middle East are also poised for significant growth in the coming years, driven by evolving consumer lifestyles.

Market Segmentation:

The Infinium Global Research report delves into various market segments, including product type and distribution channel. Product types encompass vitamins, botanicals (plant-based supplements), minerals, protein & amino acids, fibers & specialty carbohydrates, omega fatty acids, and other specialty categories. Distribution channels include pharmacies & drug stores, supermarkets & hypermarkets, online retailers, and other outlets.

Market Dynamics:

Growth Driver: Rising Emphasis on Organics

  • Strict regulations and certifications ensure safety, authenticity, and quality of organic products.
  • Consumers trust organic products due to rigorous testing and adherence to standards.
  • Growing health consciousness and interest in overall well-being drives demand for organic options.
  • Government support for organic agriculture increases availability and variety of organic supplements.
  • Example: Jollywell's launch of new plant-based and clean dietary supplements.

Market Restraint: Regulatory Hurdles

  • Labeling and regulatory requirements ensure accurate and transparent information for consumers.
  • Scientific evidence is needed to support claims about health benefits, limiting marketing options.
  • Good Manufacturing Practices (GMPs) ensure product quality and safety, challenging for smaller companies.
  • Reporting adverse events can be burdensome and lead to increased scrutiny.
  • Varying regulations across countries make navigating global markets difficult.
  • Compliance with multiple frameworks adds complexity to exporting and importing.

Market Opportunity: Booming E-commerce

  • E-commerce platforms allow companies to reach consumers worldwide.
  • Companies can target customers in various regions without physical stores or local networks.
  • Online stores offer 24/7 access for convenient shopping anytime, anywhere.

 

Market Keyplayers:

  • Amway Corp.
  • Abbott
  • Bayer AG
  • Nature's Bounty
  • Nu Skin Enterprises
  • Herbalife International of America, Inc.
  • ADM
  • Glanbia PLC
  • American Health
  • Nature's Sunshine Products, Inc.

 

Contact Us:

Infinium Global Research LLP

Mob: +91 9923950043

Email: info@infiniumglobalresearch.com

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