The global dietary supplements market is anticipated to reach US $239.4 billion in 2028, growing at a CAGR of 7.4%. It is estimated to be valued US $167.5 billion in 2023. The factors driving the growth are the increasing elderly population, the shift from pharmaceuticals towards nutraceuticals, amino acids, and protein supplements due to the focus on preventive healthcare, and the growing personalized nutrition, which is supporting the dietary supplement industry. Consumers are shifting focus toward self-directed care driven by the growing personal health, weight management, and well-being trend. The personal care markets have changed drastically in recent years, from consumers adopting weight management and protein supplements to help manage lifestyle disorders. In most of the region, it is seen that people do not take an adequate amount of protein, and because of this, the need for amino acids and protein supplements is increasing. Additionally, due to wrong eating habits and improper lifestyles, a vast majority of consumers are opting for weight management supplements to curb obesity and overweight issues.

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Opportunity: Shift towards plant-based supplements

The market for plant protein ingredients is growing at a high rate. Plant-based products witness a significant opportunity in the current market scenario as alternatives. The change in consumer preference and interest in plant-based sources due to its nutritional profile, inclination toward clean eating, rise in health concerns like lactose intolerance, and environmental concerns have contributed to the growth for the plant-based supplements.

Challenge: Consumer skepticism and fake supplements associated with nutraceutical products

Nutraceuticals refer to food ingredients and dietary supplements that provide certain medicinal benefits. The adoption and use of nutraceuticals are increasing due to an increase in clinical disorders. For example, there are supplements which are for people suffering from diabetes, it provides the optimum amount of fiber and protein to reduce insulin spike. However, there is a rise in consumer skepticism over these products due to the lack of availability of experimental evidence, false advertisement, and stringent regulatory framework.

The elderly age group hold a significant share in the dietary supplements market by target consumer during the forecast period

Due to the increasing aging population and their specific nutritional needs. As individuals age, they may require additional support to address nutritional deficiencies and age-related health concerns. Dietary supplements provide a convenient and targeted solution to fulfill these needs, offering vitamins, minerals, and other essential nutrients. The elderly segment seeks supplements to support joint health, cognitive function, cardiovascular health, bone strength, and immune system function. Manufacturers are developing specialized formulations to cater to the unique requirements of older adults. With the growing elderly population, the dietary supplements market is expected to experience significant growth in this segment.

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Asia Pacific provides the highest growth prospects for the dietary supplements market in 2023

Asia Pacific is a highly diverse market in terms of dietary supplement manufacturing and consumption. The Asia Pacific dietary supplements market in is expected to grow at a significant rate. The population across has been increasingly switching towards a healthier life by the adoption of dietary supplements in different forms, which are naturally sourced. Additionally, the geriatric population has been growing in countries such as Japan, where the demand for geriatric supplements and medicinal supplements is set to grow. Further, after the pandemic countries like India and China are increasingly adopted these supplements apart from daily diet, as a means of prevention and fulfilling dietary requirements. These countries are also offering key players to expand their reach in the dietary supplements market by providing a vast customer base, the focus of the companies operating in the market is shifting towards establishing business and manufacturing facilities, which drives the market in the region.