The global dietary supplements market is expected to reach $288.5B by 2030 from $123.1B in 2021, growing at a CAGR of 9.9% from 2021 to 2030. There are many market drivers, such as the rising demand for sports nutritional supplements, growing prevalence of chronic disorders, changes in customer preference, and growing awareness about health and fitness.
As a result, vitamin supplements held the greatest share of the market in 2021, of roughly 31%. This was also due to a lack of vital vitamins in the population, for instance, vitamins A, B, C, and E. As a result, people are increasingly turning to supplements to meet their daily vitamin requirements.
Key Findings:
- In 2021, APAC dominated the market, accounting for 45.8% of the total revenue. The dietary supplements market is growing in the region as a consequence of the expanding consumer health awareness, increasing understanding of supplements, and rising expenditure on health-enhancing goods, as a result of the rising per capita income.
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The U.S. has also emerged as a prominent consumer of such products owing to the increasing consumer buying power, growing interest in preventative healthcare, aging population, and widening knowledge of achieving wellness via nutrition.
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Thus, Persona Nutrition, a tailored vitamin program, debuted a chewable gummy vitamin packet for the entire family in April 2021. This vitamin pack is intended to help with relaxation, attention improvement, immunological health, and general wellness.
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Furthermore, in February 2022, Amway India launched Nutrilite, a nutrition supplement with tasty candies and mouth-dissolving jelly strips.
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Based on form, the tablet category accounted for the greatest revenue share in the dietary supplements market in 2021. This was owing to an increase in the use of vitamins in the tablet form due to the optimum dose form, lower cost, ease of availability, longer shelf life, and convenience of such products.
- Moreover, the liquid category is predicted to advance at the highest CAGR over the projection period, of 11.3%. This would be because nutrients from liquids are easier to absorb by the body and have higher bioavailability, and it is easier to promote the relationship between nutrition and liquid supplements.
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