DIETARY SUPPLEMENTS MARKET ANALYSIS

Dietary Supplements Market Size and Trends

The global dietary supplements market is estimated to be valued at USD 181.07 Bn in 2024 and is expected to reach USD 312.33 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.

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The dietary supplements industry has seen steady growth over the past decade driven by increasing health consciousness among consumers. Rising prevalence of lifestyle diseases such as diabetes, obesity, and cardiovascular issues has also fuelled greater adoption of dietary supplements. Consumers have started taking dietary supplements as a preventive healthcare measure to offset deficiencies that lack of nutrients in regular diet can cause. Growing awareness regarding benefits of dietary ingredients like vitamins, minerals, plant extracts, and probiotics is further supporting the market expansion. Innovations with product offerings catering to specific health needs of consumers also provides opportunities for supplement companies to attain strong footprint in this continuously evolving market landscape.

Global Aging Population

As life expectancy increases across the world, the elderly population over 65 years of age is growing at a faster rate. According to United Nations estimates in 2020, there were about 703 million people aged 65 years or over in 2019 and their number is projected to double to nearly 1.5 billion in 2050. The dietary needs and nutrient requirements of an aging population are quite different from young adults. With advancing age, nutrition absorption, and utilization abilities decline in the human body. This makes elderly more prone to deficiency of important vitamins, minerals, proteins, and other nutrients. Dietary supplements can help overcome nutrient deficiencies and maintain optimal health and quality of life for aging population. Many older adults regularly consume supplements like calcium, vitamin D, omega-3 fatty acids, probiotics, collagen peptides, etc. to address specific age-related health conditions.

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In today's fast-paced world with changing lifestyles, people are becoming increasingly health conscious. High stress levels, long working hours, and irregular eating patterns have disrupted natural nutrition intake for many individuals. At the same time, consumers are better informed about links between diet and various diseases. More focus on preventive healthcare and proactive management of chronic conditions like diabetes, heart disease, and obesity is being seen. People want to supplement their diets with specialized formulations targeting specific organs, bodily functions or metabolic activities. Growing health consciousness and emphasis on wellness has been a key driver for various sectors including organic foods, fitness activities, and dietary supplements. Many view supplements as convenient and effective tools to fill gaps in daily nutrition, boost immunity, aid weight management, and improve overall wellbeing. Rising affinity towards healthy living is likely to boost the global market for supplements containing vitamins, minerals, herbs, botanicals, enzymes, amino acids, and other ingredients.