With the dietary supplement market flourishing, it is a great time to invest in your supplement brand. The Globe Newswire reported the Global Dietary Supplements Market was worth 124.8 Billion in United States Dollars (USD) in 2018 with North America holding the largest share.
Globe Newswire further reported the Dietary Supplements Market Size will grow by almost 70% to reach 210.3 Billion USD by 2026 with the North America market projected to grow at a 5.7% compound annual growth rate (CAGR) from 2018-2026.
For many Americans, taking supplements is part of their daily routines. In 2019, data collected from an on-line survey and reported by the American Osteopathic Association tells us that 86% of Americans take daily vitamins or supplements. Of those who report taking daily vitamins or supplements, over three-quarters (76%) of them do so of their own initiative. Only 24% of people who take daily vitamins or supplements have doctor’s instructions to do so based upon a confirmed nutritional deficiency.
Driving Factors for Growth Opportunities in Dietary Supplements
Why are so many people taking supplements?
The Nation’s and the World’s Changing Life Styles. With increased technology and wealth, we eat more and exercise less resulting in obesity issues. Obesity is associated with many diseases including diabetes, cardiovascular disease, high blood pressure, stroke, sleep apnea, liver and kidney diseases, and osteoarthritis. Vitamins and supplements are an easy way to help alleviate some of the ill effects of obesity driven diseases.
The Rising Awareness of Alternative, Natural, and Organic Products to promote wellbeing and provide preventative healthcare without synthetic alternative side-effects.
Seeking to Reach Fitness and Health Goals. Many people, young and old, male and female, are reaching for sports nutrition supplements to maximize their fat loss and increase their lean muscle mass.
The Increasing Geriatric Population desire active, high-quality lives. They want to ensure they have the macro and micronutrients they need to fuel an energetic retirement.
Increasing Disposable Income. Increased technology results in more disposable income for individuals all over the world. This growing wealth is expected to drive the Asia Pacific dietary supplements market at a 9.2% CAGR from 2019-2026.
Dietary Supplement Submarkets
The Dietary Supplements Market is broken down into the following four Submarkets:
Vitamins and Minerals – are the largest submarket with 98% of all supplement users using a vitamin or mineral supplement. The vitamin market growth alone is estimated to see a CAGR rate of 5.5% for the forecast period 2019-2026.
Specialty Supplements – are designed to support a specific structure of or function in the body with a similar effect of a pharmaceutical drug. The top five specialty supplements used today include:
Omega-3 Fatty Acids
Statista reports 51% of all supplement users use a specialty supplement.
Herbal and Botanical Supplements – are derived from fruits, vegetables, barks, and roots. Looking for fewer side effects, consumers are purchasing organic supplement brands. The 2017 supplement market value of herbal and botanical supplements was 56.1 Billion USD with an expected CAGR of 10.8% from 2019-2026. The total market value of herbal and botanical supplements is expected to reach over 137.3 Billion in USD in 2026. Polls show 41% of all supplement users take an herbal or botanical supplement.
Sports Nutrition and Weight Management – is the fastest growing supplement submarket with frequent product launches targeted to new consumers. Consumers are seeking to reach their lifestyle and fitness goals and supplement their normal diet. The sports nutrition and weight management submarket value almost doubled from 2004-2018 with a total revenue in 2019 of 36 Billion USD dollars. Polls show 32% of all supplement users use sports nutritional supplements with 38% of those users reporting as male while 27% reported as female. Polls indicate 20% of all supplement users use a weight loss supplement with 23% of those users reporting as male and 18% as female.
Origin Nutraceutical: Working to Meet the Dietary Supplements Market Demands
With the market booming, there is lots of room in the dietary supplement industry for your brand to thrive. Regardless if you are starting a fledgling supplement brand or marketing as a big company like Herbalife International with a global distribution channel, you can rely on Origin Nutraceutical’s expertise and detailed customer service.
As one of the best dietary supplement manufacturers in the United States, Origin Nutraceutical will help your brand take off! Origin Nutraceutical’s services include custom formulation and/or private label products, supplement manufacturing in powder, tablet, or liquid forms, packaging, and shipping.
In addition, Origin Nutraceutical works with numerous partner companies to cover all aspects of taking your brand from design to market. Call or email us today to get your brand into the thriving dietary supplements market.
Bardoulas, Jessica. “News Releases: Poll Finds 86% of Americans take Vitamins or Supplements.” American Osteopathic Association. 2019. https://osteopathic.org/2019/01/16/poll-finds-86-of-americans-take-vitamins-or-supplements-yet-only-21-have-a-confirmed-nutritional-deficiency/
Reports and Data. “Dietary Supplement Market to Reach USD 210.3 Billion by 2026.” Global Newswire. 2019. https://www.globenewswire.com/news-release/2019/03/25/1760423/0/en/Dietary-Supplements-Market-To-Reach-USD-210-3-Billion-By-2026-Reports-And-Data.html
Health and Pharmaceuticals. “Top Specialty Supplement Type Among US Adults 2017.” Statista. https://www.statista.com/statistics/308342/top-specialty-supplement-types-used-by-us-adults/
“Herbal Supplements Market Size & Share -Industry Report, 2018-2026.” Polaris Market Research: Global Market Research Reports and Consulting. https://www.polarismarketresearch.com/industry-analysis/herbal-supplements-market
Oster, Matthew. “Sports Nutrition Is Expanding across Consumers, Categories, and Positionings.” Nutritional Outlook. 2019. http://www.nutritionaloutlook.com/sports-energy/sports-nutrition-expanding-across-consumers-categories-and-positionings
2019 CRN Consumer Survey on Dietary Supplements: Consumer Intelligence to Enhance Business Outcomes. CRN The Science Behind the Supplements. https://www.crnusa.org/resources/2019-crn-consumer-survey-dietary-supplements-consumer-intelligence-enhance-business