| Source: Future Market Insights Global and Consulting Pvt. Ltd.
Valley Cottage, New York, UNITED STATES
NEWARK, Del, Nov. 14, 2023 (GLOBE NEWSWIRE) — The dietary supplements market size is anticipated to surpass US$ 68.20 billion in 2023 and is likely to attain a valuation of US$ 163.66 billion by 2033. The dietary supplement demand is anticipated to thrive at a CAGR of 9.1% from 2023 to 2033.
The surge in consumer awareness regarding the importance of well-being and preventive measures is causing a notable impact on the dietary supplement market. These shifts are giving rise to a set of interconnected trends that are molding consumer preferences. These are also driving demand changes and redefining consumption patterns in the industry.
As people become more conscious of the significance of positive health management, the demand for dietary supplements is on the rise. Health-conscious individuals are recognizing dietary supplements as a means to bridge nutritional gaps and enhance well-being. This mindset change is creating a favorable environment for dietary supplement manufacturers and suppliers. This stems from increased consumer accessibility to these products.
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The availability of online medical portals and the wealth of information from health organizations’ websites are playing a role in educating consumers. People are gaining knowledge about health concerns, preventive practices, and various supplement options. This easy access to information is empowering individuals to make informed decisions about their choices. This, in turn, is contributing to the growth of the dietary supplements market globally.
The increase in sedentary lifestyles and the adoption of less-than-optimal dietary habits are fueling the demand for dietary supplements. Consumers are turning to supplements that can help alleviate associated health risks and nutritional deficiencies.
The segmentation of consumer needs based on age and gender is leading to a diversification of supplement offerings. This personalized approach is resulting in a broader range of products on the market as supplements targeting different life stages and gender-specific needs gain prominence.
With over a fifth of the global consumer base falling into the aging population category, there is a considerable market driver at play. This demographic’s demand for supplements to mitigate the effects of aging is inspiring fresh product development. These consumers are seeking products that address different age-related concerns.
The rising costs of healthcare services are also prompting consumers to seek preventive measures. Individuals intend to reduce their long-term healthcare expenses by integrating dietary supplements into their daily routines. This financially mindful approach is contributing to the demand for vitamin supplements as a proactive investment in health.
“A comprehensive market research study emphasizes the pivotal role of dietary supplements in contemporary health and wellness. The findings underscore the growing consumer awareness and increasing demand for personalized nutritional solutions, positioning dietary supplements as a key driver in the evolving landscape of preventive healthcare”, says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)
Key Takeaways from the Report:
Key Companies in the Dietary Supplements Market
Recent Developments Observed by FMI
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Dietary Supplements Market Segmentation
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Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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