Dietary Supplements Market: Emerging Trends in Vegan and Plant-Based Products

 

The global market for dietary supplements was valued at a substantial USD 177.50 billion in 2023. This market is projected to experience robust growth, expanding at a Compound Annual Growth Rate (CAGR) of 9.1% from 2024 to 2030.

 

Several key factors are driving this growth. Firstly, the increasing prevalence of chronic diseases, such as obesity, diabetes, heart disease, and cancer, is a significant concern. Secondly, the modern lifestyle, characterized by busy schedules and irregular eating habits, has led to dietary deficiencies. These factors combined are fueling the demand for dietary supplements.

 

Manufacturers are responding to this rising demand by introducing innovative products and formulations tailored to specific consumer needs. These include supplements for weight management, sports nutrition, and brain health, among others. Effective marketing strategies, including influencer endorsements and social commerce, are further raising consumer awareness about the benefits of these products. 

 

Gather more insights about the market drivers, restrains and growth of the Dietary Supplements Market  

 

Form Segmentation Insights

 

Tablets continue to be the most popular choice for dietary supplements, accounting for 32.3% of the market revenue in 2023. Their convenience, portability, precise dosing, and extended shelf life make them a preferred option for consumers.]

 

Powdered dietary supplements are gaining popularity due to their ease of use and versatility. They can be easily mixed into various food and beverages, making them a convenient choice for those seeking to incorporate supplements into their daily routine. This segment is projected to grow at a significant rate of nearly 9% from 2024 to 2030, with a market value exceeding USD 20 billion in 2023.

 

Liquid dietary supplements, particularly liposomal products, are also witnessing substantial growth. These products, which are evenly dispersed in water, offer smooth consumption and easy integration into various beverages like yogurt, water, smoothies, and energy drinks. Their easy digestibility and appeal to different age groups contribute to a projected CAGR of 12.2% from 2024 to 2030.  

 

Order a free sample PDF of the Dietary Supplements Market Intelligence Study, published by Grand View Research.