Dietary Supplements Market

The Dietary supplements market is estimated at USD 179.53 billion in 2024 and is projected to reach USD 258.75 billion by 2029, at a CAGR of 7.6% from 2024 to 2029. The primary growth drivers of the market for dietary supplements are growing consumer health consciousness, the incidence of chronic illnesses, and a focus on preventive healthcare. Consumers use supplements to address nutritional deficiencies caused by modern lifestyles that often characterize unhealthy eating patterns and high levels of stress. Demand is also being driven by aging populations, especially in industrialized nations, as older people look for supplements to improve immunity, manage aging-related illnesses, and maintain health.

The major players in the dietary supplements market with a significant global presence are Nestlé (Switzerland), Abbott (US), Amway Corp (US), Otsuka Holdings Co., Ltd (Japan), and Glanbia PLC (Ireland). The market players have adopted various strategies, such as the development of advanced products, partnerships, expansions, and acquisitions, to strengthen their position in the dietary supplements market. Organic and inorganic strategies have helped the market players expand globally by providing advanced dietary supplement solutions.

Nestle (Switzerland)

Nestlé, the world’s largest and most diversified food and beverage company, offers a broad portfolio spanning food, beverages, healthcare, nutrition, and pet care. The company provides a wide range of products, including powdered and liquid beverages, pet care items, nutrition and health science solutions, prepared dishes and cooking aids, dairy products, ice cream, confectionery, and water. Through its nutrition and health science segment, Nestlé also delivers dietary supplements. The brand portfolio of nutrition and health science includes NAN, Illuma, Gerben, S-26, Nestum, Materna, Lactogen, Boost, Vital Proteins, Vitaflo, etc.

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Nature’s Bounty, the flagship brand of The Bountiful Company, a wellness brand under Nestlé Health Science, is dedicated to enhancing physical health and well-being with premium-quality products. Nestle has a global presence in North America, Europe, Asia, Oceania, Africa, Latin America, and Greater China.

Abbott (US)

Abbott is a US multinational firm of pharmacy goods and healthcare company that specializes in producing a series of healthcare products that include pharmaceuticals, medical devices, diagnostics, and nutritional products. Supplements products are available in a series to provide full support towards general wellness through required vitamins, minerals, and nutrients which a human diet may possibly miss out on. These supplements address specific health needs and are targeted toward various functions, such as prenatal health, infant and child nutrition, sports nutrition, and specially designed supplements for the elderly.

Abbott has a significant global reach, operating in several countries, catering to different markets, and fulfilling a variety of consumer needs. The regions where Abbott has a large presence in the dietary supplement market include North America, Europe, Asia Pacific, Latin America, and the Middle East. This wide reach enables the company to adjust its offerings to local preferences and regulatory demands, thus making sure that its products are tailored to respond to the unique needs of each market. Some of the best-known Abbott brands of dietary supplements include Glucerna and Ensure.

Abbott sells its products worldwide through direct sales to retailers, distributors, hospitals, healthcare facilities, laboratories, physicians' offices, and government organizations.

Otsuka Holdings Co., Ltd (Japan)

Otsuka group of companies contributes to supporting the pharmaceutical and nutraceutical businesses in achieving better health globally. The organizational structure of Otsuka Holdings Co., Ltd consists of Otsuka Pharmaceutical, Otsuka Pharmaceutical Factory, Taiho Pharmaceutical, Otsuka Warehouse, Otsuka Chemical, Otsuka Foods, and Otsuka Medical Devices. Otsuka Holdings manages all these companies through its subsidiaries, which are divided into pharmaceuticals, nutraceuticals, consumer products, and other businesses. Pharmaceutical products, functional foods and beverages, alcoholic beverages, cosmetics, fine chemicals, functional chemicals, electronic equipment, medical devices, and OTC comprise a diversified portfolio of products in the company's product portfolio. It operates in North America, Europe and Asia.

A wholly owned subsidiary of Otsuka Holdings Co., Ltd., Otsuka Pharmaceutical contributes to the health of people around the world through the company's two core businesses: Otsuka Pharmaceutical Business, focused on developing breakthrough treatments for diseases; and Otsuka Nutraceutical Business, which creates innovative products that help people maintain or improve their health. Otsuka has business activities in 33 regions and has 200 group companies i.e., 41 companies in Europe, 69 in Asia, the Middle East, 49 in Japan, 36 in North America, 3 in Oceania, and 2 in South and Central America. Otsuka's products now reach patients and consumers in more than 80 countries. Through Otsuka Pharmaceutical, people all around the world enjoy innovative and creative pharmaceutical and nutraceutical products. Otsuka Pharmaceutical has scaled globally through the creation of businesses with extremely innovative products. Additionally, Otsuka Holding Co, Ltd. is ISO 14001, ISO 22301, ISO 9001 (quality), ISO 22000, FSSC 22000 (food safety), ISO 13485, etc. certified.

Related Reports:

Dietary Supplements Market by Type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Mode of Application (Tablets, Capsules, Liquid, Powder, Gummies/Chewables), Target Consumer, Function, Region - Global Forecast to 2029

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