Global Dietray Supplements Market 2020-2029 By Region, By Ingredient, By Form and Top 20 Country Market Analysis

Market Introduction- Dietary Supplements Market Analysis

A dietary supplement is a substance that adds nutrients to the diet or reduces the risk of health problems, such as osteoporosis and arthritis. An increasing dependency on these supplements to satisfy the nutrient requirements due to their immense utility will propel the market. The market size is expected to expand at a CAGR of 8.6% from 2021 to 2029. A growing number of gyms and health clubs, linked with the increasing awareness of well-being among youths, is anticipated to increase the need for strength and weight management. The rising endorsement of sports as a profession is assumed to boost the market for sports nutrition supplements.

Segment analysis- Dietary Supplements Market Analysis

The dietary supplements market can be segmented by ingredient, form, application, end-user, and distribution channel.
Based on ingredients, there are vitamins, proteins and amino acids, and botanicals segments. The vitamins segment led the market and accounted for the largest share in 2020 due to tremendous demand from working professionals and sports professionals for energy management. These can be consumed through powder, liquid, or tablets. The botanicals segment endured the second-largest percentage in 2020. The growing adoption of vegan food around the globe due to rising environmental concerns will increase the demand for botanicals in the coming years. The proteins and amino acids segment will display the highest CAGR rate from 2021 to 2029. The growing demand for protein complements, like whey powders, and amino acid products, like tyrosine, creatine, citrulline, and proline, amongst the consumers is expected to drive the market over the forecast period.
Based on application, the energy and weight management application segment dominates the market with an estimated revenue share of more than 29% in 2020. Other applications include bone and joint health, general health, cardiac health, anti-cancer, gastrointestinal health, immunity, lungs detox/cleanse, and diabetes. These fulfill nutritional insufficiencies in humans. The rising awareness concerning gut health due to the developing ubiquity of irritable bowel syndrome, acid reflux, indigestion, and constipation across the globe will drive the demand for specialty carbohydrates and fibers in the gastrointestinal health application segment. The immunity application segment is expected to grow at a CAGR of 8.5% from 2021 to 2029.
Based on the Distribution Channel segment, the Over the Counter (OTC) channel is estimated for the most substantial revenue share and will maintain its dominance from 2021 to 2029. Supermarkets/hypermarkets add significantly to the purchases of dietary supplements in North America and Europe due to greater prevalence. The availability of a broad range of products and steeper discounts are liable for the growth of sales. Moreover, a growing number of supermarkets in emerging economies will aid the sales of dietary supplements. Other OTC delivery channels of dietary supplements involve nutrition specialty stores. These offer more goods in a particular category, assisting consumers to buy unique goods that they cannot find in other stores.
Based on end-user, the adult segment accounted for the largest share of the overall revenue. Hectic lifestyle agendas among working adults are pointing toward nutritional deficiencies, which has lead to the increased consumption of dietary supplements. The predominance of cardiovascular diseases, obesity, and diabetes-related diseases among adults across the globe is assumed to be the chief determinant driving the market.
Based on form, the tablet segment led the market and was estimated for more than 33 % of the global market in 2020. The enhanced reputation of tablets owing to low cost, easy dosage, and higher shelf life influences the growth of this segment. The growing significance of microencapsulation to ensure controlled discharge will enhance the market for capsules from health and wellness products. However, their higher price compared to tablets is assumed to create challenges. The liquid form will display the highest CAGR of 10.7% from 2021 to 2029. Liquid dietary supplements are liposomal that can precisely disperse in water providing smooth consumption. This form aids the easy development of blends commencing higher usage in smoothies, energy drinks, and yogurt.

Regional Insights- Dietary Supplements Market Analysis

The North American region appeared as a leading regional market with a large revenue share due to the growing adoption of products with eminent nutritional and low-calorie content. Moreover, raising awareness about the supplement products in Mexico leading to new product launches is expected to drive the demand for dietary supplements.
The Asia Pacific region will observe notable growth in the coming years. The market is assumed to be the most extensive regional market by 2029 because of the growing consumer base in China, India, and South Korea. The European region is expected to grow at a CAGR of 6.8% from 2021 to 2029. According to the market database, high spending capacity and awareness in advanced countries, like the U.K., France, and Germany will propel the regional market growth.

Key players- Dietary Supplements Market Analysis

Some of the key players in this market are?Amway?(US), ADM (US), Pfizer (US), Herbalife Nutrition (US), FANCL (Japan), Abbott Laboratories (US), Bayer (Germany), Glanbia (Ireland), Arkopharma Laboratories (France), Nature’s Sunshine Products (US), and Danisco (Denmark)