Global Supplements Market Size Tipped to Double by 2030

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( — October 29, 2022) — Global dietary supplements have become big business in recent years and the boom is showing no signs of slowing down.

A recent report by Grand View Research claimed the global market size was valued at around $152 billion last year and is forecast to more than double by 2030.

The explosion in popularity of dietary supplements is primarily fuelled by the global working population struggling to fulfill their daily nutritional requirements purely from their food intake.

Increased awareness of the benefits of supplementary products coupled with evidenced-based research to back up their effectiveness is driving growth in the sector.

The increased prevalence of pre-workout review sites which provide beginners and experienced athletes with more information about the available options on the supplements market has also had a major impact.

North America accounted for just over one-third of the total revenue in 2021 and is forecast to remain as the biggest market by the time 2030 comes around.

Europe, Mexico, and the Asia Pacific are amongst the other noteworthy regions predicted to enjoy significant revenue growth over the forecast period.

The United States leads the way for market share in the North American region, with several factors contributing to its place at the top of the tree.

Rising spending on healthcare products and increased interest in attaining greater levels of well-being are among the main drivers for growth in the US.

The fitness industry is playing a key role in the dietary supplements boom, both in the US and in other major global jurisdictions.

Demand for associated products such as sports nutrition and pre-workouts is responsible for powering growth in global supplement sales.

Energy and weight management applications in dietary supplements account for just over 30% of the revenue in 2021 and are tipped to be the main driver for growth over the next few years.

With cardiovascular diseases, obesity, diabetes, and other conditions still impacting the global population, sales of dietary supplements will continue to rise as people strive for better health.

Increased life expectancy has also been tipped to have a significant impact on the sales of dietary supplements in several major markets.

Senior citizens often require a greater number of supplements to support their dietary intake as they grow older, which in turn fuels increased demand for products.

Another key contributor to growth in the dietary supplements sector over the next few years will undoubtedly be the ease of accessibility to the products.

Offline outlets such as supermarkets and pharmacies dominated the landscape in 2021, accounting for more than four-fifths of the total revenue during the year.

However, there is likely to be a significant shift towards online distribution channels amongst consumers over the coming years.

Online supplement specialists are becoming far more prevalent, while e-Commerce giants such as Amazon have also entered the sector.

These companies have forged links with the leading supplement brands to offer consumers the ability to purchase products on a 24/7/365 basis.

The past few years have seen a seismic shift toward online shopping and this trend is forecast to continue for the foreseeable future.

While brick-and-mortar stores still have a role to play, they are finding it increasingly difficult to compete with the convenience offered by online outlets.

The purchasing power of companies such as Amazon gives them a massive advantage when it comes to pricing dietary supplements.

The internet giant has also added its own line of vitamins and supplements under its successful Amazon Elements brand, which has helped to boost the profile of the products.

They have brought greater transparency to a sector that was previously guilty of shady practices, thus giving consumers more confidence in supplementary products. 

Several companies in the supplements industry have previously attracted criticism over elements such as false labeling and claims about the efficacy of their products.

By taking a transparent approach to its range of supplementary products, Amazon has contributed to the sector cleaning up its act.

With a growing body of academic evidence to support the effectiveness of supplements and backing from global e-commerce giants such as Amazon, the industry is well-placed to become a $320bn sector by 2030.