With rising healthcare costs, the still-not-over pandemic regime, and, consequently, increasing focus on hygiene & wellness, more & more people have started including dietary supplements, such as vitamins and minerals, herbs and other botanicals, amino acids, and enzymes, among others, into their diets. Healthy aging, proper fitness & sleep management, and adequately maintaining mental & digestive health are all ongoing goals worldwide. People are willing to spend more on supplements, are taking their quality & efficacy more seriously, and no longer just opting for general products but personalized solutions.
As a result, manufacturers are actively working on introducing more effective products to the market and expanding their production capacities in order to cater to the ever-growing consumer requirements. In view of these trends, a recent research report has revealed that the Global Dietary Supplements Market is set to register around 7.5% CAGR between 2023 & 2028. Rising urbanization & disposable incomes, growing adoption of nutrient-specific products, and ever-increased consumer spending on health & wellness products, alongside changing consumer lifestyles, buying patterns, & dietary habits, are the prime aspects projected to drive the industry in the coming years.
Key Highlights from the Research Report
Asia-Pacific: A Mega Opportunity for Supplement Manufacturers
More & more people across Asia-Pacific, especially in India, China, & South Korea, have started including nutritional supplements in their diets owing to ever-increased health consciousness after the pandemic. With growing awareness of the benefits & importance of such products, alongside their rising per capita income, consumers are increasingly spending on health-enhancing products to maintain their wellness.
The emerging trend of personalized nutrition is also contributing to the rapidly rising sales of dietary supplements across these countries. Manufacturers are actively participating in developing more effective & innovative products and expanding their production & distribution capacities to widen their reach and attract more consumers. Hence, these aspects indicate that Asia-Pacific is set to become the fastest-growing Dietary Supplements Market in the forecast years.
With consumer interest rising unprecedentedly, it’s clear that the dietary supplements market is highly lucrative for manufacturing, pharmaceutical, and science & technology-backed sectors. The advent of AI is also boding well for market expansion as soon consumers will be able to go for brands that provide personalized nutrition products. While still in the nascent stage, integrating such technologies can certainly curate a way for a more tailored future for health-conscious consumers. Hence, the future of the dietary supplements market is set to remain optimistic for both consumers & industry players.