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Redding, California - October 23, 2024

Dietary Supplements Market to Reach $166.58 Billion by 2031

Dietary Supplements Market Size, Share, Forecast, & Trends Analysis by Type (Botanicals, Minerals, Enzymes), Form (Tablets, Capsules, Liquid), Function (Medical, Sport Nutrition), End User (Infants, Adults), Distribution Channel - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Dietary Supplements Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication, the dietary supplements market is expected to reach $166.58 billion by 2031, at a CAGR of 4.9% from 2024 to 2031.

The growth of the dietary supplements market is driven by the increasing demand for nutrition-enriched products, an increased focus on preventive healthcare measures, rising consumer spending on health & wellness products, and the growing geriatric population along with the prevalence of chronic diseases. However, the high cost of dietary supplements hinders the market’s growth.

In addition, technological advancements in dietary supplements and growing demand for plant-based supplements provide potential growth opportunities for market players. The market faces substantial challenges, including consumer skepticism and fake supplements associated with dietary supplement products. On the other hand, increasing demand for sports nutrition supplements and clean labels is a prominent trend in the dietary supplements market.

Key Players:

The dietary supplements market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the dietary supplements market are Amway Corporation (U.S.), Glanbia plc (Ireland), Abbott Laboratories (U.S.), Pfizer Inc. (U.S.), Nestlé S.A. (Switzerland), Archer-Daniels-Midland Company (U.S.), Bayer AG (Germany), Otsuka Holdings Co., Ltd. (Japan), Nu Skin Enterprises, Inc. (U.S.), GSK plc (U.K.), Herbalife International of America Inc. (U.S.), Nature's Bounty (U.S.), RBK Nutraceuticals Pty Ltd (Australia), Suntory Holdings Limited (Japan), and Pharmavite LLC (U.S.).

The dietary supplements market is segmented based on type, form, function, end user, and distribution channel. The report also evaluates industry competitors and analyzes the dietary supplements market at the regional and country levels.

Among the types studied in this report, the vitamins segment is anticipated to dominate the dietary supplements market in 2024. This segment's substantial market share is largely attributed to the critical role vitamins play in maintaining overall health and well-being. Consumers are increasingly incorporating vitamin products into their daily diets to ensure they meet their nutritional needs. Vitamins offer a convenient solution for individuals to receive essential nutrients that support immune function, energy levels, and overall wellness.

Additionally, vitamins in dietary supplements address specific health concerns and contribute to long-term health maintenance. For example, B-complex vitamins are vital for energy production and brain function, making them especially beneficial for individuals facing fatigue or cognitive challenges. Antioxidant vitamins such as A, C, and E help protect the body from oxidative stress and support skin health, promoting a youthful appearance and reducing the risk of chronic diseases. The versatility of vitamins, their capacity to address both general wellness and specific deficiencies, and their availability in various forms make them a valuable component of dietary supplements.

Among the forms studied in this report, the tablets segment is anticipated to dominate the dietary supplements market in 2024. The substantial market share of this segment can be attributed to the convenience and ease of consumption that tablets provide. Their compact and portable form allows consumers to easily incorporate supplements into their daily routines without the need for measuring or mixing. Additionally, tablets offer high stability, and a longer shelf life compared to liquids or powders, making them attractive to consumers looking for long-term storage and reliability. Furthermore, tablets are versatile and can deliver a wide range of nutrients, including vitamins, minerals, and herbal extracts, enhancing their appeal to health-conscious individuals.

Among the functions studied in this report, the additional supplements segment is anticipated to dominate the dietary supplements market in 2024. The significant market share of this segment is driven by the increasing demand for personalized health solutions and a rising consumer preference for meals that not only satisfy hunger but also offer additional nutritional benefits. Dietary supplements enable individuals to fill gaps in their regular diet and provide targeted support for specific health concerns. This personalized approach aligns with the growing trend of preventive healthcare, where consumers take proactive steps to manage their wellness by incorporating specific supplements to prevent potential health issues.

Among the end users studied in this report, the adults segment is anticipated to dominate the dietary supplements market in 2024. The substantial market share of this segment is primarily driven by the growing interest in fitness and active lifestyles, alongside the rising prevalence of chronic diseases among adults, which has led to increased demand for dietary supplements to support overall health. Additionally, factors such as rising disposable incomes, lifestyle changes, and hectic work schedules have prompted more adults to turn to dietary supplements to ensure they receive the necessary nutrients for optimal well-being.

Among the distribution channels studied in this report, the pharmacies & drug stores segment is anticipated to dominate the dietary supplements market in 2024. The substantial market share of this segment is primarily attributed to the trust and credibility that pharmacies and drug stores provide to consumers. These outlets are regarded as reliable sources for health-related products, including dietary supplements, often staffed by knowledgeable healthcare professionals who can offer guidance and recommendations. This professional advice boosts consumer confidence in selecting the right supplements for their specific needs, whether related to general wellness, immune support, or chronic health management. Moreover, pharmacies and drug stores are widely accessible in both urban and rural areas, making it convenient for consumers to purchase dietary supplements during routine health visits or while picking up prescriptions.

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Poland, Netherlands, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Malaysia, Thailand, Singapore, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa (Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa).

Among the geographies studied in the report, North America is anticipated to dominate the dietary supplements market in 2024, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The substantial share of this regional market can be attributed to several factors, including heightened awareness of the health benefits of dietary supplements, increasing demand for clean-label products, the growing trend towards veganism, and a rise in health-conscious consumers. Furthermore, advancements in nutrition and technology, along with the rising prevalence of lifestyle diseases such as diabetes and obesity, further contribute to market growth.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=6047

Key Questions Answered in the Report-

What is the value of revenue generated by the sale of dietary supplements?
At what rate is the global demand for dietary supplements projected to grow for the next five to seven years?
What is the historical market size and growth rate for the dietary supplements market
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which type, form, function, end user, and distribution channel segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the dietary supplements market?
Who are the major players in the dietary supplements market? What are their specific product offerings in this market?
What recent developments have taken place in the dietary supplements market? What impact have these strategic developments created on the market?

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Redding, California - October 23, 2024

Dietary Supplements Market to Reach $166.58 Billion by 2031

Dietary Supplements Market Size, Share, Forecast, & Trends Analysis by Type (Botanicals, Minerals, Enzymes), Form (Tablets, Capsules, Liquid), Function (Medical, Sport Nutrition), End User (Infants, Adults), Distribution Channel - Global Forecast to 2031

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