Dietary Supplement Market

Dietary Supplement Market Outlook from 2024 to 2034

The global dietary supplement market size is expected to attain a valuation of around USD 170.1 billion by 2034. The market is anticipated to witness a steady CAGR of 9.5% in the assessment period 2024 to 2034. By the end of 2024, the market for dietary supplements is projected to reach a total valuation of USD 74.3 billion.

Key Trends in Dietary Supplement Market

• Increasing demand for probiotics and prebiotics to enhance one’s digestive health is a leading trend.
• Government agencies are expected to focus on changing their food laws, which will likely influence product claims and labels.
• Growing demand for sports nutrition supplements amid surging need to improve the endurance and strength of bodybuilders & athletes is a key trend.
• Government NGOs and private organizations are expected to create awareness among consumers about the nutritional benefits of vitamin and mineral supplements.
• Demand for natural health supplements is estimated to rise among sports enthusiasts to reduce wear & tear, enhance their muscular strength, and restore energy.

Attributes	Key Insights
Estimated Dietary Supplement Market Size (2024E)	USD 74.3 billion
Projected Dietary Supplement Market Valuation (2034F)	USD 170.1 billion
Value-based CAGR (2024 to 2034)	9.5%

Herbal Supplement Market and Industry Insights

• The rising use of dietary supplements among young athletes to decrease body fat, enhance muscle tone, and gain/lose weight is projected to accelerate growth.
• Multivitamin and mineral supplements are gaining traction due to the growing need for essential nutrients among athletes as they engage in rigorous exercise.
• Sometimes, young athletes suffer from nutrient deficiencies as they have certain dietary preferences, food allergies, or restrictive diets. The consumption of multivitamin supplements is projected to help safeguard their health and fill the gap in their nutrition.
• Vitamin B-based products are gaining impetus in the liquid dietary supplement market as these are projected to help produce more energy in athletes during their performance.
• Sportspersons who mainly engage in weight-bearing activities are likely to look for bone-supporting supplements such as those with vitamin D and calcium.
• The e-commerce boom in both developed and developing countries is projected to enable sports enthusiasts to purchase their supplements from the convenience of their homes.

Semi-annual Market Update

The table provides information about significant variations in growth rates and dynamic trends in the dietary supplement market. Readers can gain insights into changing consumer tastes and evolving market dynamics throughout an array of different periods. The table offers an explanation of growth potential, scrutinizing the role that actual numbers and predictions have in determining the future path of the market.

Details	CAGR
Jan to Jun (H1), 2023 (P)	9.1%
Jan to Jun (H1), 2023 (A)	8.9%
Jul to Dec (H2), 2023 (P)	8.7%
Jul to Dec (H2), 2023 (A)	8.4%
Jan to Jun (H1), 2024 (P)	8.1%

2019 to 2023 Analysis of Dietary Supplement Market Vs. 2024 to 2034 Forecast

Sales of dietary supplements grew at a CAGR of 7.1% from 2019 to 2023. In the next ten years, the global market for dietary supplement formulations is expected to rise at a 9.5% CAGR.

Historical CAGR (2019 to 2023)	7.1%
Forecast CAGR (2024 to 2034)	9.5%

There has been a significant surge in the sales of vitamins, minerals, nutritional and herbal supplements. This surge has been accompanied by the entry of several new companies into this field, along with established ones. All of these producers are actively exploring new opportunities to tap into wide consumer bases.

In July 2023, for instance, Henry Blooms, a reputed health supplement company based in Australia, introduced its VitaQIK liposomals range in the United States. The company’s products were made available in renowned health food retail stores such as UNFI and Lotus Light.

Kourtney Kardashian Barker, on the other hand, launched Lemme, her new vitamin and supplement brand, at Target, in January 2024. The company’s bestselling products, namely, Lemme Chill, Lemme Glow, Lemme DeBloat, and Lemme Purr, are available on Target’s official website and outlets.

Key Factors Propelling Dietary Supplement Sales

Emergence of Female-focused Health and Wellness Supplements

The demand for dietary supplements, with health claims revolving around women, is expected to rise significantly in the forecast period. Health and wellness supplements aimed at enhancing the varying needs of women at different stages of their lives are projected to gain traction.

Key players are constantly launching health supplements catering to women to support their menopause phase, maternal health, and menstruation cycles. They provide a wide range of supplements infused with essential ingredients, including calcium and iron, to help reduce pain and discomfort.

A handful of start-ups and well-established companies are launching innovative products with protein, green tea extract, royal jelly, collagen, mushroom extract, and vitamin E. These are projected to help lower inflammation, improve sleep, and enhance mood.

In December 2023, for instance, a leading supplement brand named O Positiv expanded its presence by introducing its products in Target Online and more than 250 Target stores across the United States. The company launched URO Vaginal Probiotic Capsules, MENO Menopause Capsules & Gummies, and FLO PMS Capsules & Gummies.

Innovations in Microencapsulation and Nanoencapsulation Technologies

The emergence of microencapsulation and nanoencapsulation technologies is projected to augur well for the global dietary supplement industry. Key manufacturers are focusing on adding specialty ingredients to their products to cater to the rising demand for scientifically proven products. They are striving to help support prenatal, liver, bone, and cognitive health.

With the utilization of microencapsulation technology, companies are set to ensure a proper supply of vitamins and minerals in one’s diet. They are looking to fortify staple food items across developing countries where not many people can afford supplements owing to their high cost.

Renowned companies, including BASF, conduct microencapsulation of vitamins to infuse sugar and flour with vitamins D and A. BASF operates from its facility in Denmark and aims to enhance the properties of vitamin powders. It showcases high demand from fortified staple food manufacturers and the pharmaceutical industry.

Country-wise Insights

The section below highlights the CAGRs of the leading countries in the dietary supplement market. The three main countries pushing dietary supplement demand include Australia, China, and the United States.

According to the analysis, Australia is set to lead the dietary supplement market by showcasing a CAGR of 8.4% in the forecast period. The country is anticipated to be followed by China and the United States, with CAGRs of 7.8% and 6.7%, respectively.

Countries	CAGR
United States	6.7%
Germany	5.6%
China	7.8%
Australia	8.4%

Holistic Wellness in the United States Spurs Nutritional Supplement Industry

Dietary supplement manufacturers in the United States are projected to gain new opportunities as the country is set to witness a CAGR of 6.7% through 2034. The United States will likely generate a dietary supplement market share of 34% in 2024. Key factors attributed to this growth include:

• In the United States, the prioritization of holistic wellness is rising as more consumers realize the importance of both physical and mental wellness.
• Wanting to ‘feel healthy’ is the key driver for end-users to seek a healthier lifestyle.
• Consumers are showing an interest in supplements that can help support their all-inclusive wellness journey.
• The move concerning holistic wellness embraces a return to old-style, natural medications such as botanical supplements, which appeal as a no harm choice with negligible risk of negative health impacts.
• As per the report, around 43% of consumers in the United States think botanical ingredients are effective, with about one in three consumers interested in botanicals for enhancing their mood and mental health.
• As consumers become more knowledgeable, their appetite for modified dietary supplements has improved. It has led to inventive personalized product improvements in the dietary supplement market in the United States.
• A significant number of new dietary supplement products have appeared in the country’s market.
• Over the last several years, the United States Food and Drug Administration (FDA) has become strict with safety standards.
• It has witnessed a surge in the number of labelling harms related to dietary supplements. This is projected to augment the position of the United States in North America’s dietary supplement market.

Dietary Supplement Market Forecast Predicts China to be a Hotbed for Firms

China is expected to showcase a considerable CAGR of around 7.8% in the evaluation period in Asia Pacific dietary supplement market. Key drivers pushing the country include:

• China is set to be mainly driven by government regulations, growing consumer awareness, and e-commerce platforms.
• The surging awareness among consumers about the crucial role of dietary supplements in promoting their well-being is set to aid demand.
• Increasing geriatric population in the country suffering from several age-related health problems will likely create new opportunities.
• The rising shift of modern customers toward preventing healthcare to prevent future health problems is expected to drive the need for nutritional supplements.
• Consumers are projected to gain access to a wide range of dietary supplements through online platforms, which is set to expand demand.
• The country’s government is anticipated to take new initiatives to surge the confidence of consumers in the safety of sports nutrition supplements.

Consumers in Australia Look for Herbal Dietary Supplement Formulations

Australia’s dietary supplement market will likely expand at a steady CAGR of 8.4% from 2024 to 2034. The country is estimated to remain at the forefront of the health supplement market owing to the following factors:

• The high influx of tourists from other countries in Australia is expected to expose its citizens to novel health & wellness trends. The availability of herbal supplements and international practices in the country will likely push growth.
• The growing practice of a wellness-focused culture in the country is projected to incline consumers toward holistic health approaches. They are set to perceive health supplements as a clean and organic method to enhance their wellbeing.
• As Australia is considered a home to unique plant species and diverse ecosystems, the demand for health supplements made of native plants and herbs is anticipated to expand.
• The growing demand for environmentally friendly products and the increasing shift from supplements that include synthetic ingredients are projected to drive demand.
• With the rising healthcare costs in Australia, several individuals are projected to move toward herbal supplements as these help provide natural remedies.

Category-wise Insights

The below section shows the global trends in the dietary supplement industry in terms of form, ingredients, sales channel, and application. The soft gel segment is expected to lead the dietary supplement market based on form. It is set to hold a share of around 35.8% in 2024.

Based on the application, the immune & digestive health segment is anticipated to hold a dominant share of 28.50% through 2024. By ingredients, the amino acid segment is expected to generate a share of 23.2% in 2024 in the dietary supplement market.

Segment	Market Share (2024)
Soft Gel (Form)	35.8%
Amino Acid (Ingredients)	23.2%
Store-based Retailing (Sales Channel)	87.0%
Immune & Digestive Health (Application)	28.50%

Nutritional Supplement Industry to Exhibit High Demand for Soft Gel

The market for dietary supplements is analyzed based on form, with soft gel daily supplements accounting for 35.8% of the share in 2024. Soft gels have several advantages and desirable properties over tablets and hard capsules.

Soft gelatin capsules are expected to significantly increase the absorption rate of active substances as they are simple to swallow and dissolve fast. Additionally, these capsules are estimated to be tailored for certain purposes.

The exceptional adaptability of soft gels is an additional advantage. To differentiate products in the market, a wide variety of shell colors, forms, and sizes are available.

The increased demand for soft gel supplements can further be attributed to their convenient packaging and cost-effectiveness. Their advantage lies in precisely defined dosages, a feature not present in liquid or alternative forms. This differentiation has made soft gels more popular than liquid supplements.

Amino Acid-based Liquid Dietary Supplements to Gain Impetus

Based on ingredients, the demand for amino acids will likely expand in the dietary supplement market. It is projected to showcase a share of about 23.2% in 2024.

Amino acid supplements are considered safe for consumption by people of all ages. For instance, athletes often take them to enhance exercise performance and recovery.

Amino acids are expected to be in high demand from nutritional supplement manufacturers. This is attributed to the increasing consumer purchasing power and surging awareness of healthy lifestyles & preventive measures.

It is anticipated that dietary supplements containing amino acids would be utilized to lessen tiredness, ease muscle aches, and minimize the risk of coronary artery disease. It is also becoming more and more well-liked as a nutritional supplement for sports.

Competitive Landscape

Key players in the dietary supplement market are BASF SE, Abbott Laboratories, Bayer AG, Glanbia Plc, Royal DSM N.V., Now Health Group, Inc., Herbalife International, Amway Corp., ADM, Arkopharma, GlaxoSmithKline plc, and Ayanda.

Leading manufacturers are focused on developing high-quality dietary supplements, coupled with offering gluten-free products with high nutritional value. The increasing demand for value-added products in several countries is expected to create new opportunities.

It is anticipated to prompt manufacturers to shift their focus from high-volume production to the manufacturing of high-quality immune health supplements. They are set to offer multifunctional ingredients with several health benefits.

Governments are further supporting manufacturers by promoting the health benefits of dietary supplements. Government support for fiber ingredients in food products has induced an inclination among manufacturers toward fiber-based food supplements.

Recent Dietary Supplement Market Developments

• In January 2024, BioAdaptives Inc., a prominent manufacturer and supplier of innovative, all-natural dietary supplements, announced the launch of a specialized research and development Food Lab. It is dedicated to the development of natural powder products and treats for animal and human consumption.
• In January 2024, Smart Protein, which is part of The Original Fit Factory’s wellness chain of products and services, announced the launch of an all-new, high-quality active wellness supplement across 142 Tesco stores in the United Kingdom.

Scope of the Report

Attribute	Details
Dietary Supplement Market Value in 2024	USD 74.3 billion
Dietary Supplement Market Value in 2034	USD 170.1 billion
Anticipated Growth Rate (2024 to 2034)	9.5% CAGR
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Volume (MT) and Value (USD billion)
Key Regions Covered	Latin America; North America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa
Key Countries Covered	Canada, United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others
Key Dietary Supplement Market Segments Covered	Form, Ingredient, Application, End-user, Sales Channel, and Region
Key Companies Profiled	BASF SE; Abbott Laboratories; Bayer AG; Glanbia Plc; Royal DSM N.V.; Now Health Group, Inc.; Herbalife International; Amway Corp.; ADM; Arkopharma; GlaxoSmithKline plc; Nu Skin Enterprises, Inc.; Ayanda; Other Key Players

Dietary Supplement Market Outlook by Category

By Form:

• Soft Gel (Capsule)
• Gummies
• Powders
• Liquid
• Bars
• Others

By Ingredients:

• Vitamin
• Minerals
• Botanical Supplements
• Amino Acid
• Others

By Application:

• Weight Management
• Immune & Digestive Health
• General Health
• Heart Health
• Sports Nutrition
• Brain/Mental Health
• Bone & Joint Health
• Others

By End-user:

• Children
• Women
• Men

By Sales Channel:

• Store-based Retailing
  • Hypermarkets/Supermarkets
  • Conventional Stores
  • Drug Stores & Pharmacies
  • Other Retailers
• Online Retailing

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

Frequently Asked Questions

How big is the dietary supplement market?

The dietary supplement market is projected to reach USD 170.1 billion by 2034.

What is the size of the dietary supplement market in China?

China’s dietary supplement market is anticipated to witness a 7.8% through 2034.

How big will the dietary supplement market be in 2024?

The dietary supplement market is set to reach USD 74.3 billion by 2024.

What is the most sold dietary supplement?

Dietary supplements infused with vitamin D are the most sold product.

What is the largest category of dietary supplements?

Vitamins and mineral supplements are projected to be the largest category.