According to our latest market study on “Dietary Supplements Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Vitamins, Minerals, Proteins and Amino Acids, Probiotics, Blends, and Others), Form (Tablets, Capsules and Softgels, Powders, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others),’’ the market size was valued at US$ 214,165.30 million in 2021 and is projected to reach a market size of US$ 319,085.34 million by 2028; it is expected to grow at a CAGR of 5.9% from 2021 to 2028.
Various nutrients, including vitamins, minerals, proteins, amino acids, and probiotics, are included in dietary supplements. Dietary supplements can be found in a variety of formats, including tablets, capsules, softgels, and powders. Dietary supplements assist in satisfying a person's unique nutritional needs.
Due to the increasing incidence of numerous diseases and medical problems like cancer, cardiovascular disorders, diabetes, high blood pressure, obesity, and high cholesterol, health and fitness have become more popular in recent years. Over the past few years, people have grown more conscious of and concerned about their physical health. Dietary components found in dietary supplements increase their nutritional value. Dietary supplements are frequently used by people to support healthy lifestyle choices. Worldwide, millions of individuals of all ages, backgrounds, and locations are embracing fitness to improve their physical health and general well-being, which is significantly driving up demand for dietary supplements. For instance, according to Penn Medicine, more than one third of American citizens use supplements, with 30% of adults of age 65 and older taking four or more supplements of any kind.
Anona GmbH; Abbott; Amway Corp.; Bayer AG; Arkopharma; Bionova; Pfizer Inc.; Otsuka Holdings Co., Ltd.; GlaxoSmithKline plc.; and The Bountiful Company are among the key players operating in the global dietary supplements market. These companies are significantly investing in research and development to meet changing preferences of consumers, which would open lucrative growth opportunities in the coming years.
The dietary supplement industry has seen a range of effects from the COVID-19 epidemic. The pandemic's first effects on the market for dietary supplements were significant due to the decline in manufacturing. Lockdown restrictions interrupted production, which reduced the available supply. Additionally, transportation of raw materials was made challenging by international travel restrictions, which had a severe effect on the global economy. However, due to studies suggesting that dietary supplements can boost the immune system, the market for nutritional supplements grew rapidly during the COVID-19 pandemic. A Nutrition Outlook research claims that because nutritional supplements help to prevent or strengthen the immune system against COVID-19, sales of supplements rose during the pandemic.
Based on type, the dietary supplements market is segmented into vitamins, minerals, proteins and amino acids, probiotics, blends, and others. By form, the market is segmented into tablets, capsules & softgels, powders, and others. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. Based on geography, the dietary supplements market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM)
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