Global Dietary Supplements Market Set to Reach $166.58 Billion by 2031

Dietary Supplements Market is expected to reach $166.58 billion by 2031, at a CAGR of 4.9% from 2024 to 2031.

Meticulous Research® has released its latest report titled, “Dietary Supplements Market—Global Opportunity Analysis and Industry Forecast (2024-2031).” The report projects the global dietary supplements market to reach $166.58 billion by 2031, growing at a CAGR of 4.9% from 2024 to 2031.

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The dietary supplements market is witnessing significant growth driven by rising consumer focus on preventive health, increasing demand for nutrition-rich products, growing spending on health and wellness, and an aging population facing higher rates of chronic diseases. However, market expansion faces challenges such as high product costs.

Emerging opportunities for growth in this sector include advancements in supplement technology and increased demand for plant-based supplements. Despite these opportunities, the market faces challenges like consumer skepticism and the proliferation of counterfeit products. Key trends include rising interest in sports nutrition and demand for clean-label supplements.

Market Leaders

The dietary supplements market is highly competitive, with prominent players including 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.).

Segment Insights

By Type: The vitamins segment is projected to lead the market in 2024 due to the critical role of vitamins in overall health. Increasing awareness of the benefits of vitamins for immune function and wellness is driving demand, with consumers integrating these products into daily routines to meet nutritional needs. The versatility of vitamins in addressing wellness and deficiency issues reinforces their position in the market.

By Form: Tablets are expected to dominate the market in 2024. Their portability, longer shelf life, and ease of consumption make them a convenient choice for consumers. Additionally, tablets are versatile, delivering nutrients like vitamins, minerals, and herbal extracts, meeting the growing health-conscious demand.

By Function: Additional supplements, offering personalized health solutions, are expected to hold the largest market share in 2024. With preventive healthcare trends on the rise, consumers are increasingly using supplements to bridge nutritional gaps and support specific health needs.

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By End User: Adults are anticipated to be the largest end-user segment in 2024, driven by a growing focus on fitness, active lifestyles, and managing chronic conditions. Busy lifestyles and rising disposable incomes further support adults’ increased use of dietary supplements.

By Distribution Channel: Pharmacies & drug stores are expected to dominate the market due to their credibility and accessibility. These outlets, often staffed by knowledgeable professionals, provide consumers with trusted guidance, enhancing confidence in supplement purchases.

Geographic Overview

The report provides an in-depth analysis of key regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is anticipated to lead the market in 2024, followed by Europe. Key growth drivers in North America include high health awareness, demand for clean-label products, increased veganism, and rising health-consciousness. Advances in nutrition science and increased prevalence of lifestyle diseases also contribute to the region’s market dominance