Baby boomer demographic rise is anticipated to fuel the market expansion for dietary supplements. By 2050, 437 million individuals in China are expected to be older than 60, according to projections made by the UN Department of Economic and Social Affairs in 2021. By 2050, India would have 324 million citizens over the age of 60, compared to 107 million and 58 million citizens over the age of 60 in the U.S. and Brazil, respectively. Also, it is predicted that between 2025 and 2030, the population over 60 will increase by 3.5 times more than the overall population. Over the forecast period, increased consumer awareness of the advantages of dietary supplements is anticipated to fuel market expansion.
Dietary Supplements Market was valued at US$ 160.6 Billion in 2021 in terms of revenue, exhibiting a CAGR of 8.0% during the forecast period (2022 to 2030).
Key Leaders in the Dietary Supplements Industry:
1. Abbott Laboratories
Abbott is a global healthcare leader in medical products and devices manufacturing. It serves people in more than 160 countries. Abbott was established in 1888 and is based in North Chicago, Illinois. In February, 2023 Abbott and Cardiovascular Systems, Inc. (CSI), today announced a definitive agreement for Abbott to acquire CSI, a medical device company with an innovative atherectomy system used in treating peripheral and coronary artery disease.
2. Amway
Rich DeVos and Jay Van founded Amway in the year 1959 and is leading health and Wellness Company solution. It has headquarters based in Michigan, USA and has presence in more than countries. Amway in December 2022 launches its Singapore business hub to provide worldwide population with health and wellness innovation products.
3. Bayer AG
Bayer Aktiengesellschaft, together its subsidiaries, operates as a life science company worldwide. It operates through Pharmaceuticals, Consumer Health, and Crop Science segments. Bayer Aktiengesellschaft was founded in 1863 and is headquartered in Leverkusen, Germany.
4. GlaxoSmithKline PLC
GSK plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. GSK plc was founded in 1715 and is headquartered in Brentford, the United Kingdom. On May 2020, it was reported that GSK tap experimental arthritis antibody to calm cytokine storm hitting COVID-19 patients.
5. BASF SE
Founded in 1856 is a chemical manufacturing company that include the sectors materials, industrial solution, surface technology, Nutrition and agricultural solutions. Operational in more than 90 countries. Headquarters in Ludwigshafen, DE.
6. Glanbia Plc.
Glanbia plc operates as a nutrition company worldwide. Glanbia plc was founded in 1964 and is headquartered in Kilkenny, Ireland.
7. Herbalife International
Herbalife Nutrition Ltd. offers health and wellness products in North America, Mexico, South and Central America, Europe, the Middle East, Africa, China, and rest of Asia Pacific. Herbalife Nutrition Ltd. was founded in 1980 and is headquartered in Los Angeles, California. In December, 2022 Glanbia plc, the global nutrition Group ("Glanbia", or the "plc") has been informed by Glanbia Cooperative Society Ltd (the "Co-op") that its members have approved the proposed acquisition of the plc’s 40% interest in Glanbia Ireland DAC.
8. DSM
Koninklijke DSM N.V., a science-based company, engages in nutrition, health, and sustainable living businesses. The company was founded in 1902 and is headquartered in Heerlen, the Netherlands
*Definition- To increase vitamin intake and reduce the risk of conditions like osteoporosis and arthritis, dietary supplements are created.
