The global market for dietary supplements was valued at a substantial USD 177.50 billion in 2023. This market is poised for significant growth, with projections indicating a Compound Annual Growth Rate (CAGR) of 9.1% from 2024 to 2030.
Several key factors are driving this growth. Firstly, the increasing prevalence of chronic diseases, such as obesity, diabetes, heart disease, and cancer, is compelling individuals to seek supplementary solutions to manage their health. Secondly, the modern, fast-paced lifestyle, often characterized by irregular eating habits and dietary deficiencies, is further fueling the demand for dietary supplements.
Gather more insights about the market drivers, restrains and growth of the Dietary Supplements Market
To cater to these evolving consumer needs, manufacturers are continuously innovating, introducing a wide range of products formulated to address specific concerns like weight management, sports nutrition, and brain health. Effective marketing strategies, including influencer endorsements and social commerce, are playing a pivotal role in raising consumer awareness about these products and their potential benefits.
The aging global population is another significant driver of market growth. Individuals aged 65 and above represent a key demographic for the dietary supplement industry, contributing substantially to overall demand. While adults aged 25 to 65 constitute the largest consumer segment in terms of sales volume, the geriatric population demonstrates significantly higher penetration rates, accounting for approximately 30% of worldwide sales.
Ingredient Segmentation Insights
Vitamin supplements held a significant 30% share of the global revenue in the health and wellness market in 2023. This growth is driven by increased consumer awareness of nutritional deficiencies caused by hectic lifestyles and poor dietary habits. To bridge these gaps, consumers are incorporating vitamin products into their daily routines to ensure optimal nutrient intake. Notably, bone health (vitamin D) and brain health (vitamin B) supplements are witnessing substantial global demand.
The demand for protein and amino acid products is poised for robust growth, with a projected CAGR of 13.4% from 2024 to 2030. Citrulline, creatine, proline, and tyrosine are prominent amino acids used in natural health product formulations. These amino acids, derived primarily from plant sources like soybeans, corn, and wheat, serve as the fundamental building blocks of protein. As consumers prioritize health and wellness, the demand for products addressing their nutritional needs, including amino acid-based supplements, is expected to remain strong.
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