General Well-Being Dietary Supplements Market

General Well Being Dietary Supplements Market Outlook (2023-2033)

The market for general well-being dietary supplements can be expected to expand at a value based CAGR of 6.0% and show an increase in revenue from US$ 48,717.2 Mn to around US$ 80,114.2 Mn by 2033.

General Well Being Dietary Supplements Consumption Analysis (2018-2022) Vs. Market Estimations (2023-2033)

The global general well-being dietary supplements market has witnessed significant growth in the historical period registering a CAGR of 6.0% in the historical period and was valued at US$ 48,717.2 Mn in 2023. The market is expected to grow steadily with the increasing consumption and awareness about benefits related to general well-being dietary supplements.

As per the current trends, consumers are becoming more health conscious and are focusing on preventative healthcare that keeps them in a good shape. In addition, due to the growing prevalence of chronic diseases such as diabetes, high blood pressure, and obesity, consumers across the world are becoming wary and want to avoid such health complications by staying healthy. In order to stay fit and healthy, consumers are resorting to consuming various dietary supplements that help them maintain good health. Also, consumers are frequenting various gyms, diet centres and fitness centres that promote the consumption of such dietary supplements.

The global market for general well-being dietary supplements is estimated to reach an approximate valuation of US$ 80,114.2 Mn in the forecast period.

What are the Key Trends in the Market for General Well Being Dietary Supplements?

“Increasing focus on consumer preferences”

Dietary supplements are becoming increasingly popular in the global market. To cash in on this trend, various companies have introduced a variety of dietary supplements in the market and consumers have a wide choice in choosing the type of supplements they wish to consume. Also with rising disposable income and growing awareness about health, consumers are spending on such dietary supplements in order to keep themselves fit and healthy.

“Increased health consciousness”

With rise in health issues such as obesity, diabetes and blood pressure, consumers have become highly health conscious across the globe.

• For instance, according the Centre for Disease Control and Prevention, from 2009 to 2010, almost half of all U.S. adults used to consume dietary supplements.
• Moreover, number of gym, diet centres and fitness centres also promote consumption of healthy food, dietary supplements, energy drinks and other health products, which is further influencing the consumers to get inclined towards these supplements.

“Continuous introduction of new products”

Rising awareness and increasing disposable income has influenced the people to get inclined towards health products. Due to this companies have launched many supplement options to prevent diseases, treat deficiencies, or make people feel good about their health.

• For instance, in August 2015, Herbalife International added a new pomegranate berry flavor to its Litoff energy boosting effervescent supplement.
• Moreover, in 2013 Ganbia Plc launched LinPro 140- a new flax protein powder for protein fortification for use in different applications such as clusters, bars, beverages and cereals.

“Increasing preference for prevention rather than cure”

The preference of the consumers to intake dietary supplements is shifting from meeting nutritional deficiencies to prevent disease. Every healthy individual, especially baby boomers or adults, are consuming dietary supplements to prevent chronic conditions such as osteoporosis, cardiovascular disease, and other visual and memory loss when they become older. Moreover, consumers want to prevent getting colds or digestive ailments. Consequently, demand for dietary supplements to prevent diseases has shown the robust growth in the past ten years across the globe.

“Lack of awareness about consumption of the product”

Dietary supplement products, which enhance health, are typically advocated as alternatives to traditional medication. However, one of the major challenges is formulation of dietary supplements for specific purpose without having side effects. Also, consumers are seeking more variety in dietary supplement products, apart from traditional options such as tablets and capsules. Such challenges may effect market growth.

• For instance, it has been found that inadequate consumption of weight loss supplements can effect liver of the consumer.

“Lack of awareness about consumption of the product”

Dietary supplement products, which enhance health, are typically advocated as alternatives to traditional medication. However, one of the major challenges is formulation of dietary supplements for specific purpose without having side effects. Also, consumers are seeking more variety in dietary supplement products, apart from traditional options such as tablets and capsules. Such challenges may effect market growth.

• For instance, it has been found that inadequate consumption of weight loss supplements can effect liver of the consumer.

Country-wise insights

What is the projected growth for the North American countries general well-being dietary supplements market?

The U.S. general well-being dietary supplements market is expected to grow from US$ 13,040.0 Mn in 2023 to US$ 21,855.5 Mn in 2033. This represents a compound annual growth rate (CAGR) of 5.3% from 2023 to 2033.

Revenue from Canada general well-being dietary supplements market is anticipated to increase at a CAGR of 7.5% over 2023-2033, to reach US$ 5226.3 Mn by 2033.

What is the projected growth for the Chinese general well-being dietary supplements market?

China is likely to emerge as the largest market for general well-being dietary supplements during 2023-2033 in the East Asian Region. Chinese general well-being dietary supplements market is projected to grow from US$ 4,865.7 Mn in 2023 to US$ 10,311.7 Mn in 2033. This represents a compound annual growth rate (CAGR) of 7.8% from 2023 to 2033. Moreover, manufacturers are also focusing on the research and increasing their product portfolio with the launch of new products in the region. This is also resulting in the market growth in China.

Category-wise insights

Which Form of General Well Being Dietary Supplements Accounts for High Revenue Generation?

Soft Gell/Pills general well-being dietary supplements segment is expected to expand at 3.9% CAGR over the forecast period and to be valued at US$ 24,025.15 Mn by 2033 end. The segment is estimated to account for 36% revenue share of the form segment by 2023 end and is expected to create absolute $ opportunity of US$ 7,645.5 Mn between 2023 and 2033.

Which End User of General Well Being Dietary Supplements is seen more across the World?

Women general well-being dietary supplements segment is expected to expand at 4.6% CAGR over the forecast period and to be valued at US$ 38,767.6 Mn by 2033 end and the segment is estimated to account for 52.1% revenue share of the end-user segment by 2023 end. The women segment is expected to create absolute $ opportunity of US$ 14,081.6 Mn between 2023 and 2033.

Competitive Dashboard

The global general well-being dietary supplements market is primarily characterized by a large number of multinational players that occupy major share of the market. The presence of multinational players is responsible for high monetary investment into development of new technologies to improve efficiency of the production process and optimize supply chains with gradual rise in demand. Influx of capital into branding and promotion of their respective products helps attract new customers and consolidate the existing customer base.

• In 2016, Koninklijke DSM N.V. launched a new 3C technology at SupplySide West trade show in Las Vegas. This new unique technology delivers highly-concentrated and customizable combinations of EPA and DHA for both, dietary supplement and pharmaceutical applications.
• In February 2017, Glanbia PLC acquired the Amazing grass brand, which is a pioneer in plant-based nutrition and a leading brand in the greens category. Its products are USDA organic, non-GMO, vegan, and gluten-free, which contain a variety of vitamins, minerals, and plant-based proteins.
• In 2016, Bayer AG launched Baymix Grobig BS, which is a probiotic that helps in improving the gut health of poultry animals, and performance. It helps prevent common gut infections associated with pathogens.
• Kerry Group Plc. partnered with Ginkgo Bioworks in July 2017, an organism company that uses cutting-edge technology to grow products rather than manufacture them. The company will use Ginkgo science and technology to improve its processes, ingredients, and products.

General Well Being Dietary Supplements Industry Report Scope

General Well Being Dietary Supplements Industry Research by Category

By Form:

• Soft Gel/Pills
• Powder
• Liquid

By End User:

• Men
• Women
• Senior Citizens
• Others

By Type:

• Vitamins & Minerals
• Amino Acids
• Botanical Supplements
• Others

By Distribution Channel:

• Pharmacies Drug Stores
• Health & Beauty Stores
• Specialty Stores
• Online Sales
• Other Sales Channels

By Region:

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa

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