Consumers' awareness regarding their health and well-being has propelled a range of categories. Dietary supplements are expected to grow rapidly over the next decade due to consumers’ growth in knowledge and pursuits of autonomy over their well-being.
Globally the dietary supplements market is approximated to grow at a CAGR (compound annual growth rate) of 8 percent between now and 2031, with an estimated value by the end of the decade to be 350 billion, according to Future Market Insights.
Dietary supplements are designed to fill the gap in day-to-day nutritional inadequacies. Consumers improved understanding of the relationship between diet and well-being is expected to propel the dietary supplement market further. This is coupled with the rise of consumers participating in and joining sports clubs and gyms.
Secondly, digestive health concerns are another significant factor impacting the consumption and demand of dietary supplements, which is suggested to be driven by the rising rates of irritable bowel syndrome, bloating, stomach ulcers, and dyspepsia globally. Growing consciousness and knowledge of fibre and specialty carbohydrates and how they can support or impact digestive health has driven consumers to purchase gut-healthy supplements.
Supplements with speciality fibre and carbohydrates which help lower cholesterol, manage appetite, and regulate blood glucose concentration, are popular as these are often difficult to source or digest through other means. The convenience of pill and powder formats suits consumers' busier lifestyles while providing easy, accessible health outcomes.
Furthermore, immunity-boosting supplements have also significantly propelled the dietary supplement market as a consequence of the pandemic outbreak in 2020. The pandemic has driven the popularity of vitamins, minerals and herbs that are proven to support and improve immunity.
Dietary supplements in liquid form are liposomal goods that may spread uniformly in water for easy absorption and encourages their further usage in yogurt, smoothies, and other energy beverages. The growing adoption of such ingredients in the food and beverages sector for specialty food products has set a new trend and adoption of dietary supplements in the present global market.
The dietary supplements market is expected to grow as consumers become more knowledgeable about their health and well-being as they pursue busier, more active, gym-going lifestyles requiring extra nutritional support.
Furthermore, the increase in vegan and plant-based diets is another feature expected to boost the growth of dietary supplements in the botanical section.
The success of the dietary supplements business can be attributed to the notable investment in scientific research and constant innovation within the market to cater to consumer concerns.
The most popular supplement category accounting for 48 percent of total sales within the dietary supplement market, were vitamin and mineral supplements, followed by botanical supplements, proteins and amino acids.
