Dietary Supplements Market

Report Code FB 1425
Published in Nov, 2024, By MarketsandMarkets™
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Dietary Supplements Market by Type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Mode of Application (Tablets, Capsules, Liquid, Powder, Gummies/Chewables), Target Consumer, Function, Region - Global Forecast to 2029

 

Overview

The market for dietary supplements is estimated at USD 179.53 billion in 2024; it is projected to grow at a CAGR of 7.6% to reach USD 258.75 billion by 2029. Dietary supplements are widely available through e-commerce and digital sites that enable consumers to review products, read reviews, and purchase from the comfort of their homes. Online shopping becomes a push factor in market expansion, especially in countries with poor retail infrastructure, thus resulting in convenient lifestyles.

Another significant market driver is innovation in supplement formulations. Companies are keen to produce customized and niche supplements for specific conditions, such as heart health, digestive health, immunity, and even skin and beauty. It creates highly selective consumers who are asking for quality natural and sustainable products. Among these, the demand for plant-based, vegan, and organic supplements is especially rising due to the growing trend of clean living and sustainability.

Dietary Supplements Market

Attractive Opportunities in the Dietary Supplements Market

NORTH AMERICA

In North America, the increasing consumer awareness about health and wellness is driving demand for supplements that boost immunity, improve digestion, and enhance overall well-being.

The market for dietary supplements is projected to record a CAGR of 7.6% during the study period, to reach USD 258.75 billion by 2029.

Collaborations and the introduction of new products are expected to present profitable prospects for industry participants in the coming five years.

Supplements for cognitive enhancement, stress relief, and sleep assistance are becoming increasingly popular as mental health problems rise.

A large proportion of the population is young and actively seeking fitness and wellness products, boosting demand for sports and energy supplements. This fosters a culture of proactive health management and increased adoption of dietary supplements to support active lifestyles and performance goals.

Global Dietary Supplements Market Dynamics

Drivers: Shift in consumer preferences due to increasing focus on health

Consumers are becoming more aware of the long-term impact that their daily lifestyle choices may have on their health. Therefore, nutrition is increasingly seen as a key factor in the prevention of diseases, mental sharpness, and energy. For example, most customers demand vitamin D, and probiotics supplements so they can realize the importance of these supplements support toward their immune, heart, and digestive health. As a result, companies have innovated and scaled their production to accommodate the growing demand for high-quality functional products.

Restraints: High cost of dietary supplements

Although there is increasing demand for dietary supplements, the very premium pricing for quality products can be an inaccessible entry barrier for many consumers in emerging markets or for tight-budgeted consumers. Premium-quality supplements that incorporate organic, plant-based, or even sustainably sourced ingredients tend to have higher price points. This, therefore, restricts access for consumers unwilling or unable to pay a premium price, thus limiting the potential market size.

 

Opportunities: Shift towards plant-based supplements

The demand for plant-based supplements is reported to be more than ever as large sections of consumers opt for a plant-based diet or alternatives to traditional products derived from animals. This demand is mostly rooted in growth in the knowledge of health benefits associated with plant-based nutrition, the environmental impact of animal farming, and the ethical treatment of animals.

The recent growing interest in veganism and vegetarianism has fueled a very potent market for plant-based dietary supplements that seem to be a natural extension of these lifestyles. Consumers are increasingly looking for products that align with their dietary choices, and among these, plant-based supplements like plant-derived proteins (pea, rice, and hemp) vitamins, minerals, and herbal products are gaining increased demand. They are apt for vegans and vegetarians but still manage to appeal to those with health consciousness who want to avoid animal products for health and environmental reasons.

Challenges: Changing regulatory environment

Dietary supplement regulations vary widely across regions and continue to change in response to new information and emerging safety concerns. This presents challenges to companies that must understand the rapidly changing regulatory environment in order to successfully bring products to market.

For example, in the United States, dietary supplements are regulated by the FDA but must not be approved before marketing, which has caused some instances of questioning quality and safety measures of some products. In the European Union, regulations related to health claims are stricter. Companies need to prove that the claims about the benefits of their supplements are indeed real. Regulatory barriers can increase the cost of compliance, delay product launches, and bring uncertainty, especially for global brands seeking entry to many markets.

Global Dietary Supplements Market Ecosystem Analysis

Prominent companies in this market include well-established, financially stable manufacturers of dietary supplements. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include Nestlé (Switzerland), Abbott (US), Amway Corp (US), Otsuka Holdings Co., Ltd (Japan), Glanbia PLC (Ireland) among others.

Top Companies in Dietary Supplements Market
 

Based on Target consumers, the elderly segment is projected to be the fastest growing segment in the market.

The elderly segment is expected to be the fastest growing in the dietary supplements market due to the increasing aging of the global population and their concern for remaining healthy throughout the process. With a longer lifespan and healthier lifestyle, people are facing disorders related to aging and are rapidly looking for supplements that can provide solutions to these conditions, such as bone density, cognitive function, joint health, and cardiovascular health. This segment specifically focuses on maintaining independence, chronic conditions management, and enhancing the quality of life in later years, which leads to a growing dependency on dietary supplements.

Factors driving this segment are the increased occurrence of age-related health issues. For example, osteoporosis, arthritis, and heart disease start occurring as people grow older. Supplements such as calcium, vitamin D, and glucosamine are currently popular among older adults who are actively on the lookout for ways of hardening bones and joints, enhancing mobility, and reducing inflammation. Calcium and vitamin D are most popular for bone health as older adults have the highest risk of fractures and osteoporosis due to declining bone density.

The online distribution channel segment in the dietary supplements market is projected to have a significant share.

The growing shifting trend toward online shopping is driven by this growing consumer preference for convenience, accessibility, and the ability to make an informed decision while purchasing from the comfort of their homes. Due to this, an increasing number of consumers are purchasing dietary supplements online using specialty e-commerce sites, health-oriented stores, and large online stores like Amazon, Walmart, and eBay.

The most significant reason for the development of the online channel of distribution is the huge variety of products in dietary supplements. Consumers no longer need to go about town in search of different brands or supplements that may not even be in that locality. Online stores have the convenience of online browsing various categories, comparing different prices, and reading online product reviews or detailed information on the ingredients contained in them. This much transparency and information assure consumers to buy supplements on the Internet.

Moreover, subscription services and auto-replenishment options, which are widely available from many online retailers, make it easier for consumers to continue their supplementation programs. These services provide a seamless experience as they automatically bring supplements to customers at regular intervals, so they never run out of essential products. The benefit of being able to subscribe to things such as multivitamins, protein powders, or omega-3 capsules is appealing to so many different customers, especially people with busy lives who want to make sure that they never run out of these health supplements, without having to reorder each time.

Asia Pacific is the fastest growing region in the dietary supplements market.

The major contributing factor for Asia Pacific growth is the increasing localization of product offerings tailored to the unique health needs and cultural preferences of diverse populations within the region. For instance, traditional herbal supplements and ingredients such as ashwagandha, turmeric, and ginseng, long valued in Asian cultures for their health benefits, are being integrated into modern supplement formulations. This combination of tradition and innovation appeals to consumers seeking scientifically backed solutions with cultural relevance.

Additionally, the rise of e-commerce platforms in Asia Pacific has been transformative for the dietary supplements market. Countries like China, India, and Indonesia have witnessed a surge in online sales of supplements, facilitated by increased internet penetration and mobile shopping convenience. The immense development in e-commerce and digital platforms has also swept away the old insularity in China's dietary supplement markets. The availability of purchasing products and the wide reach of digital marketing conveniently enable people to access a series of supplements adopted to particular health needs. In September 2019, Herbalife Nutrition (US) took advantage of this trend by partnering with Tencent, China's largest internet technology company. Such partnership is aimed at empowering the independent distributors of Herbalife in improving their online sales competencies. Herbalife Nutrition China, after having integrated Tencent's technology, can connect online and offline services to make interactions between distributors and consumers more effective in their transactions, thus stimulating business growth.

LARGEST MARKET IN 2024- 2029
CHINA FASTEST GROWING MARKET IN THE REGION
Dietary Supplements Market Size and Share

Recent Developments of Dietary Supplements Market

  • In April 2023, Haleon Group of Companies, formerly GSK Consumer Healthcare, is expanding its supplements brand Centrum in India by launching a new specialized nutrition line called "Benefit Blends," targeting both adults and children. This launch comes six months after Centrum's initial introduction in India, where Haleon aims to strengthen its presence and compete as a leading player in the health supplement market. The company also has plans for further product launches to diversify its offerings.
  • In October 2021, Abbott announced that it signed an agreement to be the Health Sciences and Nutrition Partner of the Real Madrid Football Club and Global Partner of the Real Madrid Foundation—an organization founded by the club to promote the values inherent in sports to children across the world. This agreement will support at-risk children in 80 countries through education, sports, and social welfare activities, as well as provide nutritional support for the first men’s and women’s teams, alongside product innovation and development.

Key Market Players

List of Top Dietary Supplements Market Companies

The Dietary Supplements Market is dominated by a few major players that have a wide regional presence. The major players in the Dietary Supplements Market are

Other players in the market include Power Gummies (India), Biomedical Research Laboratories, LLC (US), HealthKart.com (India), Nordic Naturals (US), Alfa Laboratories, Inc. (US), NutriScience Corporation (US), Nature’s Essentials (US), Life Extension (US), Solgar Inc (US), and BioGaia (Sweden).

These market players are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific, Europe, and South America. They also have manufacturing facilities along with strong distribution networks across these regions.

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Scope of the Report

Report Attribute Details
Market size available for years 2019-2029
Base year considered 2023
Forecast period 2024–2029
Forecast units Value (USD million/billion)
Segments Covered By Type, By Mode of Application, By Target Consumer, By Distribution Channel, By Function, By Region
Regions covered North America, Europe, Asia Pacific, South America, and Rest of the World

 

Key Questions Addressed by the Report

What is the current size of the dietary supplements market?
The dietary supplements market is estimated at USD 179.53 billion in 2024 and is projected to reach USD 258.75 billion by 2029, at a CAGR of 7.6% during the same period.
Which are the key players in the market, and how intense is the competition?
Nestlé (Switzerland), Abbott (US), Amway Corp (US), Otsuka Holdings Co., Ltd (Japan), Glanbia PLC (Ireland).
The market for dietary supplements is expanding rapidly, with more mergers, acquisitions, and product launches. Companies in this sector are also heavily investing in research and development.
Which region is projected to account for the largest share of the dietary supplements market?
The North American market is expected to dominate during the forecast period. The region is driven by high consumer awareness, widespread preventive healthcare practices, and a robust e-commerce infrastructure. The region's focus on fitness and mental wellness further fuels the demand for tailored supplements.
What kind of information is provided in the company profiles section?
The provided company profiles deliver crucial details, including a thorough business summary that covers different segments, financial results, geographic presence, revenue distribution, and business revenue breakdown. They also offer insights into product lines, key achievements, and expert analyst opinions to better illustrate the company's potential.
What are the factors driving the dietary supplements market?
The dietary supplements market is driven by increasing health awareness, demand for preventive healthcare, aging populations, rising disposable incomes, advancements in supplement formulations, and the growth of e-commerce.

 

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Table of Contents

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TITLE
PAGE NO
INTRODUCTION
1
  • 1.1 STUDY OBJECTIVES
  • 1.2 MARKET DEFINITION
  • 1.3 STUDY SCOPE
    MARKET SEGMENTATION
    INCLUSIONS & EXCLUSIONS
    REGIONS COVERED
    YEARS CONSIDERED
  • 1.4 UNIT CONSIDERED
    CURRENCY/ VALUE UNIT
    VOLUME UNIT CONSIDERED
  • 1.5 STAKEHOLDERS
  • 1.6 SUMMARY OF CHANGES
RESEARCH METHODOLOGY
2
  • 2.1 RESEARCH DATA
    SECONDARY DATA
    - Key data from secondary sources
    PRIMARY DATA
    - Key data from primary sources
    - Key Primary Insights
    - Breakdown of Primary Interviews
  • 2.2 MARKET SIZE ESTIMATION
    BOTTOM-UP APPROACH
    TOP-DOWN APPROACH
  • 2.3 DATA TRIANGULATION
  • 2.4 RESEARCH ASSUMPTIONS
    ASSUMPTIONS OF THE STUDY
  • 2.5 LIMITATIONS AND RISK ASSESSMENT
EXECUTIVE SUMMARY
3
PREMIUM INSIGHTS
4
MARKET OVERVIEW
5
  • 5.1 INTRODUCTION
  • 5.2 MACROECONOMIC OUTLOOK
  • 5.3 MARKET DYNAMICS
    DRIVERS
    RESTRAINTS
    OPPORTUNITIES
    CHALLENGES
  • 5.4 IMPACT OF GEN AI ON FOOD ADDITIVES/INGREDIENTS
    INTRODUCTION
    USE OF GEN AI IN FOOD ADDITIVES/INGREDIENTS
    CASE STUDY ANALYSIS
    IMPACT ON DIETARY SUPPLEMENTS MARKET
    ADJACENT ECOSYSTEM WORKING ON GEN AI
INDUSTRY TRENDS
6
  • 6.1 SUPPLY CHAIN ANALYSIS
  • 6.2 TECHNOLOGY ANALYSIS
    KEY TECHNOLOGIES
    - PERSONALIZATION AND AI-BASED SOLUTIONS
    COMPLEMENTARY TECHNOLOGIES
    - NANOTECHNOLOGY
    ADJACENT TECHNOLOGIES
    - BIOTECHNOLOGY & FERMENTATION
    AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY TYPE
    AVERAGE SELLING PRICE TREND, BY REGION
    AVERAGE SELLING PRICE TREND, BY MODE OF APPLICATION
  • 6.3 ECOSYSTEM ANALYSIS/ MARKET MAP
    DEMAND SIDE
    SUPPLY SIDE
  • 6.4 PATENT ANALYSIS
    LIST OF MAJOR PATENTS PERTAINING TO THE MARKET
  • 6.5 KEY CONFERENCES & EVENTS IN 2024-2025
  • 6.6 REGULATORY LANDSCAPE
    REGULATORY BODIES, GOVERNMENT AGENCIES, & OTHER ORGANIZATIONS
    REGULATORY FRAMEWORK
  • 6.7 PORTER’S FIVE FORCES ANALYSIS
    INTENSITY OF COMPETITIVE RIVALRY
    THREAT OF NEW ENTRANTS
    THREAT OF SUBSTITUTES
    BARGAINING POWER OF SUPPLIERS
    BARGAINING POWER OF BUYERS
  • 6.8 KEY STAKEHOLDERS AND BUYING CRITERIA
    KEY STAKEHOLDERS IN THE BUYING PROCESS
    BUYING CRITERIA
  • 6.9 CASE STUDY ANALYSIS
  • 6.10 INVESTMENT AND FUNDING SCENARIO
DIETARY SUPPLEMENTS MARKET, BY TYPE
7
  • 7.1 INTRODUCTION
  • 7.2 BOTANICALS
  • 7.3 VITAMINS
    VITAMIN A
    VITAMIN B
    VITAMIN C
    VITAMIN D
    OTHER VITAMINS
  • 7.4 MINERALS
    CALCIUM
    MAGNESIUM
    IRON
    ZINC
    POTASSIUM
    OTHER MINERALS
  • 7.5 AMINO ACIDS
    BRANCHED-CHAIN AMINO ACID
    L-ARGININE
    GLUTAMINE
  • 7.6 ENZYMES
  • 7.7 PROBIOTICS
  • 7.8 OTHER TYPES
DIETARY SUPPLEMENTS MARKET, BY MODE OF APPLICATION
8
  • 8.1 INTRODUCTION
  • 8.2 TABLETS
  • 8.3 CAPSULES
  • 8.4 LIQUID
  • 8.5 POWDER
  • 8.6 GUMMIES/CHEWABLES
DIETARY SUPPLEMENTS MARKET, BY TARGET CONSUMER
9
  • 9.1 INTRODUCTION
  • 9.2 INFANTS
  • 9.3 CHILDREN
  • 9.4 ADULTS
  • 9.5 PREGNANT WOMEN
  • 9.6 ELDERLY
    DIETARY SUPPLEMENTS MARKET, BY DISTRIBUTION CHANNEL
DIETARY SUPPLEMENTS MARKET, BY DISTRIBUTION CHANNEL
10
  • 10.1 INTRODUCTION
  • 10.2 PHARMACY
  • 10.3 SUPERMARKET/HYPERMARKET
  • 10.4 HEALTH & WELLNESS STORES
  • 10.5 ONLINE
  • 10.6 OTHER DISTRIBUTION CHANNELS
DIETARY SUPPLEMENTS MARKET, BY FUNCTION
11
  • 11.1 INTRODUCTION
  • 11.2 GUT HEALTH
  • 11.3 IMMUNE HEALTH
  • 11.4 SPORTS NUTRITION
  • 11.5 SKIN HEALTH
  • 11.6 METABOLIC HEALTH
  • 11.7 WEIGHT MANAGEMENT
  • 11.8 BONE & JOINT HEALTH
  • 11.9 OTHER FUNCTIONS (ANTIMICROBIAL PROPERTIES, ANTIOXIDANT ACTIVITY, ENHANCING NUTRIENT ABSORPTION, MENTAL HEALTH BENEFITS)
DIETARY SUPPLEMENTS MARKET, BY INGREDIENT SOURCING & QUALITY (QUALITATIVE)
12
  • 12.1 INTRODUCTION
  • 12.2 INGREDIENT SOURCING
  • 12.3 INGREDIENT QUALITY
  • 12.4 TESTING & CERTIFICATION
  • 12.5 INGREDIENT FRAUD PREVENTION
  • 12.6 TRANSPARENCY & LABELING
DIETARY SUPPLEMENTS MARKET, BY TECHNOLGY (QUALITATIVE)
13
  • 13.1 INTRODUCTION
  • 13.2 BIG DATA ANALYTICS
  • 13.3 3D PRINTING
  • 13.4 SMART MANUFACTURING & AUTOMATION
  • 13.5 PROBIOTICS & MICROBIOME TECHNOLOGY
  • 13.6 SMART PACKAGING
DIETARY SUPPLEMENTS MARKET, BY REGION
14
  • 14.1 NORTH AMERICA
    US
    CANADA
    MEXICO
  • 14.2 EUROPE
    GERMANY
    UK
    ITALY
    SPAIN
    FRANCE
    REST OF EUROPE
  • 14.3 ASIA PACIFIC
    CHINA
    JAPAN
    INDIA
    AUSTRALIA & NEW ZEALAND
    REST OF ASIA PACIFIC
  • 14.4 SOUTH AMERICA
    BRAZIL
    ARGENTINA
    REST OF SOUTH AMERICA
  • 14.5 REST OF THE WORLD
    MIDDLE EAST
    AFRICA
COMPETITIVE LANDSCAPE
15
  • 15.1 OVERVIEW
  • 15.2 KEY PLAYERS STRATEGIES/RIGHT TO WIN, 2020 - 2023
  • 15.3 REVENUE ANALYSIS, 2020 – 2023
  • 15.4 MARKET SHARE ANALYSIS, 2023
  • 15.5 COMPANY VALUATION AND FINANCIAL METRICS
  • 15.6 BRAND/PRODUCT COMPARISON
  • 15.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
    STARS
    EMERGING LEADERS
    PERVASIVE PLAYERS
    PARTICIPANTS
    COMPANY FOOTPRINT: KEY PLAYERS, 2023
    - Company Footprint
    - Region Footprint
    - Type Footprint
    - Mode of Application Footprint
    - Function Footprint
  • 15.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
    PROGRESSIVE COMPANIES
    RESPONSIVE COMPANIES
    DYNAMIC COMPANIES
    STARTING BLOCKS
    COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
    - Detailed list of key start-up/SMEs
    - Competitive benchmarking of key start-up/SMEs
  • 15.9 COMPETITIVE SCENARIO AND TRENDS
    NEW PRODUCT LAUNCHES
    DEALS
    EXPANSIONS
    OTHERS
COMPANY PROFILES
16
  • 16.1 KEY PLAYERS
    NESTLE
    ABBOTT
    AMWAY CORP
    HALEON GROUP OF COMPANIES
    KLAIRE LABS
    BIOGAIA AB
    OTSUKA HOLDINGS CO., LTD.
    GLANBIA PLC
    ALFA LABORATORIES
    BAYER AG
    HERBALIFE INTERNATIONAL OF AMERICA, INC.
    NATURE’S SUNSHINE PRODUCTS, IN
    BIONOVA LIFESCIENCES
    ARKOPHARMA
    AMERICAN HEALTH
  • 16.2 STARTUPS/SMES
    SWANSON
    H&H GROUP
    NU SKIN
    POWER GUMMIES
    BIOMEDICAL RESEARCH LABORATORIES
    HEALTHKART
    NUTRISCIENCE CORPORATION
    NATURE’S ESSENTIALS
    LIFE EXTENSION
    NORDIC NATURALS
  • 16.3 DIETARY SUPPLEMENTS INGREDIENT MANUFACTURERS
    CARGILL, INCORPORATED
    ADM
    IFF
    BASF SE
    ARLA FOODS AMBA
    DSM-FIRMENICH
    INGREDION
    AJINOMOTO CO., INC.
    KYOWA KIRIN CO.,LTD.
    FONTERRA CO-OPERATIVE GROUP LIMITED
ADJACENT & RELATED MARKETS
17
APPENDIX
18
  • 18.1 DISCUSSION GUIDE
  • 18.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
  • 18.3 AVAILABLE CUSTOMIZATIONS
  • 18.4 RELATED REPORTS
  • 18.5 AUTHOR DETAILS

The study involved two major approaches in estimating the current size of the dietary supplements market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

This research study involved the extensive use of secondary sources—directories and databases such as Bloomberg Businessweek and Factiva—to identify and collect information useful for a technical, market-oriented, and commercial study of the market.

In the secondary research process, various sources such as annual reports, press releases & investor presentations of companies, white papers, food journals, certified publications, articles from recognized authors, directories, and databases were referred to identify and collect information.

Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, and market classification and segmentation as per the industry trends to the bottom-most level, regional markets, and key developments from both market- and technology-oriented perspectives.

Primary Research

Extensive primary research was conducted after obtaining information regarding the dietary supplements market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, South America, and the Rest of the World. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, research, and development teams, and related key executives from distributors and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to dietary supplements by type, mode of application, target consumer, distribution channel, function, and region. Stakeholders from the demand side, such as food and beverage companies and health and personal care companies who are using dietary supplements, were interviewed to understand the buyer’s perspective on the suppliers, products, and their current usage of dietary supplements and the outlook of their business which will affect the overall market.

Dietary Supplements Market Size, and Share

Note: The three tiers of the companies are defined based on their total revenues in 2022 or 2023, as per
the availability of financial data: Tier 1: Revenue > USD 1 billion; Tier 2: USD 100 million = Revenue = USD
1 billion; Tier 3: Revenue < USD 100 million.

To know about the assumptions considered for the study, download the pdf brochure

COMPANY NAME

DESIGNATION

Nestle (Switzerland)

General Manager

Abbott (US)

Sales Manager

Otsuka Holdings Co., Ltd (Japan)

Manager

International Flavors & Fragrances Inc (US)

Head of processing department

Haleon Group of Companies (UK)

Marketing Manager

Glanbia PLC (Ireland)

Sales Executive

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total size of the dietary supplements market. These approaches were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following details:

  • The key players in the industry and the overall markets were identified through extensive secondary research.
  • All shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain final quantitative and qualitative data.
  • The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from leaders, such as CEOs, directors, and marketing executives.

Dietary Supplements Market : Top-Down and Bottom-Up Approach

Dietary Supplements Market Top Down and Bottom Up Approach

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to estimate the overall dietary supplements market and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. The market size was also validated using both the top-down and bottom-up approaches.

Market Definition

According to the National Institute on Aging (NIA) [a part of the National Institutes of Health (NIH)], “Dietary supplements are substances you might use to add nutrients to your diet or to lower your risk of health problems such as osteoporosis or arthritis. Dietary supplements come in the form of pills, capsules, powders, gel tabs, extracts, or liquids. They might contain vitamins, minerals, fiber, amino acids, herbs other plants, or enzymes. Sometimes, the ingredients in dietary supplements are added to foods, including drinks.”

Stakeholders

  • Manufacturers of food products, beverages, and dietary supplements
  • Manufacturers of nutraceutical ingredients
  • Intermediary suppliers, such as traders and distributors of nutraceutical products
  • Government, research organizations, and institutions
  • World Health Organization (WHO)
  • Codex Alimentarius Commission (CAC)
  • Associations, regulatory bodies, and other industry-related bodies:
  • Food and Agriculture Organization (FAO)
  • United States Department of Agriculture (USDA)
  • Food Safety Council (FSC)
  • Food and Drug Administration (FDA)
  • European Food Safety Authority (EFSA)
  • Food Standards Australia New Zealand (FSANZ)
  • Dietary Supplement Health and Education Act (DSHEA)
  • Internal Probiotics Association
  • Indian Health Foods and Dietary Supplements Association (INHADSA)

Report Objectives

  • To determine and project the size of the dietary supplements market with respect to the type, mode of application, target consumer, distribution channel, function, and regions in terms of value over five years, ranging from 2024 to 2029.
  • To identify the attractive opportunities in the market by determining the largest and fastest-growing segments across regions
  • To provide detailed information about the key factors influencing market growth (drivers, restraints, opportunities, and challenges)
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
  • To analyze the micro-markets with respect to individual growth trends, prospects, and their contribution to the total market.
  • To identify and profile the key players in the dietary supplements market.
  • To understand the competitive landscape and identify the major growth strategies adopted by players across the key regions.

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.

The following customization options are available for the report:

Product Analysis

  • Product Matrix, which gives a detailed comparison of the product portfolio of each company.

Geographic Analysis as per Feasibility

With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.

  • Further breakdown of the Rest of Europe dietary supplements market into key countries.
  • Further breakdown of the Rest of Asia Pacific dietary supplements market into key countries.
  • Further breakdown of the Rest of South America dietary supplements market into key countries.

Company Information

  • Detailed analyses and profiling of additional market players (up to five)

Previous Versions of this Report

Dietary Supplements Market by Type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Function, Mode of Application, Target Consumer, Distribution Channel (Pharmacy, Supermarket/Hypermarket, Online) and Region - Global Forecast to 2028

Report Code FB 1425
Published in May, 2023, By MarketsandMarkets™

Dietary Supplements Market by Type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Function, Mode of Application, Target Consumer, Distribution Channel (Pharmacy, Supermarket/Hypermarket, Online) and Region - Global Forecast to 2028

Report Code FB 1425
Published in Apr, 2022, By MarketsandMarkets™

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