The global dietary supplements market size is estimated to be valued at USD 136.2 billion in 2020 and projected to reach USD 204.7 billion by 2026, recording a CAGR of 7.0% during the forecast period. The demand for dietary supplements is increasing significantly owing to changing consumer preferences due to rising health awareness. Additionally, increasing geriatric population and a positive outlook towards sports nutrition is projected to provide growth opportunities for the dietary supplements market.
The key players in this market include Amway (US), Herbalife Nutrition (US), ADM (US), Pfizer (US), Abbott Laboratories (US), Arkopharma Laboratories (France), Bayer (Germany), Glanbia (Ireland), Nature’s Sunshine Products (US), FANCL (Japan), Danisco (Denmark), Bionova Lifesciences (India), XanGo (US), Ekomir (Russia), American Health (US), Pure Encapsulations (US), UST Manufacturing (US), Capstone Nutrition (US), Anona GmBH (Germany), Plantafood Medical GmBH (Germany), Carlyle Group (US), Bio-Botanica Inc. (US), GlaxoSmithKline (UK), Nu Skin Enterprises (US), and Nutraceutics (US).
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Amway (US) offers effective nutritional dietary supplements, beauty, and personal care products, and connected home devices. The company operates through four business segments, namely nutrition, beauty, and personal care, and home and others, which include energy drinks and sports nutrition products. It offers dietary supplements under its nutrition segment. Dietary supplements and vitamins are offered under its Nutrilite brand.
The company offers around 450 products in more than 100 countries across regions, such as the Americas, Europe, and Asia Pacific. It operates through 15 manufacturing facilities and processing plants. It has four manufacturing sites in the US, India, China, and Vietnam.
Herbalife Nutrition (US) is a global nutrition company, involved in providing nutrition-based products and solutions for weight management and general wellness. It offers products under various categories, which include weight management, targeted nutrition, energy, sports and fitness, outer nutrition, and literature and promotional products.
It offers dietary supplements under the weight management and targeted nutrition product categories. It operates through four manufacturing facilities, eight quality control laboratories, and a botanical extraction facility across more than 94 countries, including China, Russia, Mexico, the US, and India.
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North America is projected to hold the largest share in the dietary supplements market. This dominance is driven by the prevalence of chronic diseases due to the hectic lifestyles and increasing awareness among consumers regarding the health benefits of the product. Also, the region has the highest prevalence of obesity. According to the CDC, in the US, the obesity prevalence was 39.8% and affected about 93.3 million adults between 2015 and 2016. Such factors are projected to contribute to the growth of dietary supplements market.