Global Dietary Supplement market will likely grow to USD 197.81 billion by 2025

The global dietary supplement market was valued at USD 123.28 billion in 2019 and is estimated to reach USD 133.39 billion by the year 2020.

It is expected to grow at the CAGR of 8.2% within the time horizon of 2020-2025 because of growing number of health & fitness centers, growing sports nutrition market and rising burden of chronic health illnesses.

Its market value will reach USD 197.81 billion by the year 2025.

Definition / Scope
Market Overview
Market Risks
Top Market Opportunities
Market Trends
Industry Challenges
Technology Trends
Pricing Trends
Regulatory Trends
Market Size and Forecast
Market Outlook
Technology Roadmap
Distribution Chain Analysis
Competitive Factors
Key Market Players
Strategic Conclusion
References
Appendix

Definition / Scope

The dietary supplements are the products extracted either from food sources or synthetic products that are consumed by mouth as a pill, capsule, tablet, or liquid to supplement the diet.

They are used for energy & weight management, general health, bone & joint health, immunity enhancement, gastrointestinal health, and other disease control.

The global dietary supplement market is concerned with the manufacture, distribution, and sale of dietary supplements products.

Based on the type of ingredients, the dietary supplement market is categorized into vitamins, minerals, herbs & botanicals, sports supplements, meal supplements, and others. Based on the type of dosage form, the global dietary supplement market is categorized into tablets, capsules, soft gels, powders, and others.

Market Overview

The total market size of the global dietary supplement market is valued at USD 123.28 billion in the year 2019 and is expected to reach USD 133.39 billion by the year 2020. Its market size is expected to grow at the CAGR of 8.2% within the forecasted period of 2020-2025.

Its market value is expected to reach USD 197.81 billion by the end of the year 2025. Based on geography, the North American region is leading the market with a market share of almost 37.06% of the total global dietary supplement market because of the rising awareness related to nutritional enrichment. The market size of this segment is valued at USD 45.69 billion in 2019.

Based on the type of product, the vitamin segment is leading the market with a market share of almost 31.2% of the total global dietary supplement market.

The market size of this segment is valued at USD 38.46 billion in 2019. Based on the dosage form, the tablets segment is leading the market with a market share of almost 35.56% of the total global dietary supplement market.

The market size of this segment is valued at USD 43.83 billion in the year 2019. Rising chronic health conditions, increasing health & fitness centers, and growing the sports nutrition market are the factors driving the growth and development of the global dietary supplement market.

However, adverse effects associated with the overconsumption of the supplements and growing demand for organic food might restrain the growth and development of its global market. The key market players engaged in this market are Abbott laboratories, Arkopharma laboratories Pharmaceutiques, Bayer, Glanbia, Pfizer, Archer Daniels Midland, Carlyle group, etc.

Market Risks

Adverse effects associated with irrational use of dietary supplements

The overconsumption of dietary supplements can cause a range of side effects among consumers. For instance, the overconsumption of vitamin A causes dizziness, nausea, fatigue, joint pain and the overconsumption of vitamin E can cause health issues in ovaries and testes for females and males respectively.

A study published in the New England Journal of Medicine has revealed that almost 23,000 emergency department visits are occurred due to the adverse effects of the dietary supplements.

These types of adverse and side effects associated with the irrational use of the dietary supplements might influence the risk for the demand for the supplements products, which will ultimately create the risk for growth and development of the global dietary supplement market.

Top Market Opportunities

Rising burden of chronic diseases

Globally, almost one in three adults has multiple chronic diseases. The prevalence and incidence of chronic illnesses such as diabetes, cancers, are in increasing trend. According to the World Health Organization, the prevalence of chronic diseases is expected to increase by 57% by the end of the year 2020.

It has been estimated that chronic diseases will account for about 75% of total global deaths. Here, almost 71% of the deaths will occur from ischemic heart disease, 75% from stroke, and 70% of the deaths from diabetes in developing countries. The use of dietary supplements is associated with the prevention and control of chronic diseases such as cardiovascular diseases, cancer, etc.

For instance, in the cancer prevention study II, the death rates from cancer are increased among non-vitamin consumers with no previous CVD. A case-control study conducted in Sweden has found the inverse association between the low multivitamins intake and incidences of myocardial infarction.

The rising burden of the chronic health conditions and association of the consumption of the dietary supplement with its prevention and control will create a significant opportunity for the growth and development of the global dietary supplement market.

Along with this, the existing pandemic outbreak of COVID 19 disease will also drive the demand for the dietary supplement as the consumers use the dietary supplements to increase their immunity status.

Increasing consumer awareness about dietary supplements

Globally, the consumers are getting more aware of the health benefits, safety, and indications of the dietary supplements. For instance, in a cross-sectional study conducted among teenagers in Italy, about 83.6% of the study participants were aware of the dietary supplements.

Along with this, in an electronic survey conducted in Saudi Arabia, almost 89.9% of the study participants has correctly defined the dietary supplements. About 53.2% of them reported that the dietary supplements are safe and almost 43.6% of them also reported that the dietary supplements improved their health.

The increasing level of consumer awareness about the health benefits and safety of the dietary supplements will create a favorable environment for the growth and development of the global dietary supplement market.

Market Trends

Growing Sports nutrition market

The rising consumer awareness towards the adoption of a healthy lifestyle and rising demand for supplements from the athletes is creating a favorable environment for the growth and development of the sports nutrition market globally.

Here, the global sports nutrition market is expected to grow at a CAGR of 12.22% within the forecasted period of 2020-2025 and is expected to reach USD 31 billion by the end of the year 2027. Here, sports supplements are leading the sports nutrition market with a market share of 80% of the global dietary supplement market.

The growing sports nutrition market and the rising use of supplements by the sportsperson is driving the growth and development of the global dietary supplement market.

Rising number of health & fitness centers and gymnasiums

Within the past seven years, the total number of health and fitness clubs has been increased from 133.56 thousand to 201.25 thousand globally. The number of health club membership is also growing at a rate of almost 37.1% annually since the year 2008.

A study conducted by the International Health, Racquet, and Sportsclub association has found that about one in every five Americans belongs to the health club or studio. Here, the global health and fitness club market are expected to grow at the CAGR of 10.6% within the forecasted period of 2020-2025.

As the health and fitness sector is one of the potent end-users of dietary supplements, the rising number of health and fitness centers is creating a significant opportunity for the growth and development of the global dietary supplement market.

Rising demand for organic food and beverages

Globally, the demand for organic food and beverages is in increasing trend. The global market for organic food and beverages is growing at a CAGR of 15.7% because of the regulatory support for organic farming and the growing adoption of organic food & beverages due to its multiple health benefits.

The market size of the organic food and beverage market is estimated to reach USD 211.44 billion by the end of the year 2020. Here, organic fruits and vegetables are dominating the market with a market share of almost 35% of the total global organic food and beverages market and are estimated to grow at a CAGR of almost 14.6% within the forecasted period of 2020-2025.

The growing market for organic food and beverages might restrain the growth and development of the global dietary supplement market.

Industry Challenges

Issue of counterfeit dietary supplements

Globally, some of the market players are influencing the growth of the dietary supplement market through the production of the counterfeit dietary supplement. For example, almost four of 10 young people have experienced a counterfeit dietary supplement product in the context of Hungary.

This type of fake dietary supplement will influence the demand and trust of the consumer towards the dietary supplements products. It is quite challenging for the market players to maintain the consumer trust and marketing of genuine products against these counterfeit dietary supplements.

Technology Trends

Advancement in technology is creating a favorable environment for the growth and development of the global dietary supplement market. Some of the technology changes that are expected to occur in the global dietary supplement market are discussed as follows:

3-D printing: This printing technology allows the printing of a three-dimensional object developed with multiple colors by laying down into different thin layers. It is adopted in the field of dietary supplements to develop personalized dosages and combinations of dietary supplements.

Sensors and networks: In the field of the dietary supplement market, the sensors and networking technology are used for tracking the daily nutritional intake and dietary adherence of the consumers. For instance, the team of the University of California San Diego has developed a wearable vitamin C sensor to track the daily nutritional intake and the adherence to it.

Drone and robotics: The drone and robotics technology are used in the sector of dietary supplement market for manufacturing, marketing, and delivery of the personalized dietary supplements products.

Pricing Trends

The price of the dietary supplements products depends upon the type of product, dosage form, quantity, brand name, and application. For instance, the price of calcium is about USD 4.89 for 500 mg while the price of the multivitamin ranges from 3 cents to USD 1.83 per daily serving.

The price of collagen peptides powder is about USD 27 for 16 oz. jar while the price of the vital proteins collagen peptides powder is about USD 42 for 20 oz. The price of the multi collagen pills is about USD 24 per 90 collagen capsules while the price of sugar bear hair vitamins is about USD 29 per pack.

Along with this, the price of the dietary supplements differs following the geography. The price of the nutrient dietary supplement is about USD 4.61 per pack in India while the price of the nutrient dietary supplement ranges from USD 2 to USD 10 per 25 kilograms in the context of China.

Regulatory Trends

The regulations, standards, and acts related to the dietary supplement market differs from country to country. Some of the key regulatory trends related to the global dietary supplement market are discussed as follows:

Dietary Supplement Health and Education Act: This act was developed by the Food and Drug Administration of the United States in 1994. According to it, before adding the new ingredients in the dietary supplements, the new dietary ingredient notification process should be completed.

Chinese Food Safety law: This law was developed by the China Food and Drug Administration to regulate the dietary supplement as the health foods. It consists of regulations related to registration, notification process, and labeling of the dietary supplements.

Therapeutic Goods Act 1989: This act was developed by the government of Australia to regulate the health claims related to the therapeutic goods (herbal, vitamin, mineral, and nutritional supplements) at the state level by territory regulatory bodies and at the federal level.

Dietary Supplements Regulations: This regulation was developed by the New Zealand in 1985 to regulate the field of complementary medicines. According to it, the manufacturers of natural products should notify the authority and register their products in an electronic database.

Market Size and Forecast

Based on geography

The North America region is leading the market with a market share of almost 37.06% of the total global dietary supplement market because of the rising awareness related to nutritional enrichment. The market size of this segment is valued at USD 45.69 billion in 2019.
The Asia Pacific region accounts for a market share of almost 33.22 % of the total global dietary supplement market. The market size of this segment is valued at USD 40.95 billion in 2019.
Europe accounts for a market share of almost 23.33% of the total global dietary supplement market. The market size of this segment is valued at USD 28.77 billion in 2019.
The rest of the world includes South America, the Middle East, and the African region, which accounts for a market share of almost 6.39% of the total global dietary supplement market. The market size of this segment is valued at USD 7.88 billion in 2019.

Based on the type of product

The vitamin segment is leading the market with a market share of almost 31.2% of the total global dietary supplement market. The market size of this segment is valued at USD 38.46 billion in 2019.
The herbs & botanicals segment accounts for a market share of almost 20.56% of the global dietary supplement market. The market size of this segment is valued at USD 25.34 billion in 2019.
The sports supplements segment accounts for a market share of almost 14.44% of the global dietary supplement market. The market size of this segment is valued at USD 17.81 billion in 2019.
The meal supplements segment accounts for a market share of almost 12.78% of the global dietary supplement market. The market size of this segment is valued at USD 15.75 billion in 2019.
The minerals segment accounts for a market share of almost 9.72% of the global dietary supplement market. The market size of this segment is valued at USD 11.99 billion in 2019.

Based on the dosage form,

The tablets segment is leading the market with a market share of almost 35.56% of the total global dietary supplement market. The market size of this segment is valued at USD 43.83 billion in the year 2019.
The capsules segment accounts for a market share of almost 21.39% of the total global dietary supplement market. The market size of this segment is valued at USD 26.37 billion in 2019.
The soft gels segment accounts for a market share of almost 13.89% of the global dietary supplement market. The market size of this segment is valued at USD 17.12 billion in 2019.
The powders segment accounts for a market share of almost 13.89% of the total global dietary supplement market. The market size of this segment is valued at USD 17.12 billion in 2019.

Market Outlook

The global dietary supplement market is expected to grow at the CAGR of 8.2% within the forecasted period of 2020-2025 because of the growing sports nutrition market, a growing number of the health & fitness centers, and rising chronic health conditions. Its market value will reach USD 197.81 billion by the year 2025.

Technology Roadmap

The adoption of new technologies is driving the growth and development of the global dietary supplements market. For instance, the use of drones and robotics for the manufacture and delivery of the dietary supplement is enhancing the performance and efficiency of this sector.

Along with this, the use of digitalization for the marketing and sale of supplements through e-commerce is also driving the growth and development of its market.

Distribution Chain Analysis

The key stakeholders involved in the operation of the global dietary supplements market are product manufacturers, distributors, retail sales, and consumers. At first, the dietary supplement is manufactured, registered, approved, and distributed to the different channels of the product distribution.

Most commonly, the dietary supplements are available through pharmacies & drug stores, health & beauty stores, and direct sale retailers. Here, the pharmacies & drug stores account for almost 40% of the total sale of the dietary supplements globally.

Competitive Factors

The key market players engaged in this dietary supplement market are focused on the conduction of research and development activities to develop new products to align with the emerging health issues. They are competing for the development of strategic divestments, the establishment of mergers, and acquisitions with other market players.

Key Market Players

Short profile of the key market players engaged in the global dietary supplement market are discussed as follows:

Abbott Laboratories: It is a globally leading organization engaged in the sector of medical devices, nutrition, branded generic pharmaceuticals, and diagnostics. It is working in more than 160 countries.

Arkopharma laboratories Pharmaceutiques: It is one of the leading global pharmaceutical laboratories engaged in the sector of natural medication, dietary supplements, and phytotherapy.

Bayer: It is one of the largest multinational pharmaceutical organization with its headquarter in Leverkusen, Germany. It is engaged in the sector of human pharmaceuticals, agricultural chemicals, seeds, and biotechnology products. The revenue of this company is valued at USD 54.62 billion in 2019.

Glanbia: It is one of the leading global nutrition groups operating in almost 32 countries with its headquarter in Kilkenny, Ireland. It is engaged in the production of dairy ingredients, specialty non-dairy ingredients, vitamins, minerals, etc. Its market revenue is valued at USD 3 billion.

Pfizer: It is one of the world’s largest multinational pharmaceutical cooperation with its headquarter in New York, United States. The revenue of this organization is valued at USD 51.75 billion in 2019.

Herbalife International: It is a US-based global multi-level marketing company engaged in the manufacture and sale of the dietary supplements. The revenue of this organization is valued at USD 4.89 billion.

Strategic Conclusion

The global dietary supplement market is growing at a rate of 8.2% because of rising chronic health conditions, increasing health & fitness centers, and growing sports nutrition market.

However, adverse effects associated with the overconsumption of the supplements and growing demand for organic food might restrain the growth and development of its global market.

References

Appendix

CVD= Cardio Vascular Diseases
USD= United States Dollar
CAGR= Compound Annual Growth Rate