Dietary supplements are products that help improve the physiological functions of the body and maintain health status. Also, it helps reduce the risk of diseases and promote physical & mental well-being. The supplements assist in providing nutrients, such as minerals, vitamins, fiber, and amino acids, to the body.
The “Saudi Arabia Dietary Supplements Market” is projected to grow at a CAGR of around 8% during the forecast period, i.e., 2021-26, says MarkNtel Advisors in their research report. The most prominent factors contributing to the market growth are the rising consumer awareness regarding the importance of well-being and prevention, rapid internet penetration, and the possibility of consulting online websites & portals of international players in the healthcare sector.
The market growth leads to increasing requirements for governmental intervention & strengthening regulations regarding the effectiveness of supplements, which might hamper the market growth. The research report “Saudi Arabia Dietary Supplements Market Analysis, 2021” also states that the skyrocketing costs of healthcare are inducing more attention toward health prevention through supplements to reduce long-term costs, thereby propelling the market growth.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR | 8% |
| Key Companies Profiled | Bayer Saudi Arabia, LLC, Amway Corp, Herbalife Nutrition Ltd., Abbott Saudi Arabia Trading LLC., Pfizer Saudi Limited, Glaxo Saudi Arabia Limited, Glanbia Performance Nutrition, Inc., The Archer-Daniels-Midland Company, ARKOPHARMA Laboratories, Company Limited, Bionova Lifesciences Pvt. Ltd. |
| Unit Denominations | USD Million/Billion |
Covid-19 Outbreak Positively Impacted the Saudi Arabia Dietary Supplements Market
As the coronavirus pandemic worsened, sales of dietary supplements, probiotic supplements, Fatty Acids, protein supplements, vitamins, and minerals experienced astoundingly high growth levels. The sudden lifestyle changes resulted in consumers viewing health & weight management in a new light, with the majority of people being concerned about being less active or gaining weight amid the pandemic.
The Covid-19 pandemic has further surged the need to take health responsibility and adopt solutions that improve quality of life. Besides, with the growing awareness regarding the various benefits of supplements to combat the disease, the overall market growth is expected to witness a rapid boost in the coming years.
Vitamins Dominated the Saudi Arabia Dietary Supplements Market with Largest Share
Based on the Ingredients, the market bifurcates into Botanicals, Vitamins, Minerals, Proteins & Amino Acids, Omega Fatty Acids, and Fibers & Specialty Carbohydrates. Among these, Vitamins acquired the largest share of the Saudi Arabia Dietary Supplements Market in the previous few years.
Vitamins promote immune boost, enhance growth & development, and support better functioning of cells & organs. The demand for vitamin-based supplements is significantly high as it is the essential element needed for health and growth. Moreover, the rising prevalence of vitamin deficiency among the population of Saudi Arabia also boosts the demand for vitamin-based supplements, thereby driving the market, cites MarkNtel Advisors in their research report, “Saudi Arabia Dietary Supplements Market Analysis, 2021.”
Tablets Captured the Significant Share of Saudi Arabia Dietary Supplements Market
Based on the Form, the market segments into Tablets, Capsules, Soft Gels, Powders, Gummies, and Liquids. Among these segments, Tablets accounted for the largest market share in the past few years, mainly due to the rising preferences for portability & single-serve convenience. In addition, cost-effectiveness, easy packaging techniques, and higher shelf life further augment the demand for supplements in tablet form.
Market Drivers
Burgeoning Health Concerns to Favor the Market Growth
With the burgeoning geriatric population and rising prevalence of lifestyle-related diseases, the consumers are more focused on health benefitting products like supplements, which is the primary factor likely to drive the market. Further, the rising trend of healthy aging encourages the demand for dietary supplements. The body’s physical decline starts at around 30 years of age & the root cause of this decline is the deficiency of vitamins & minerals, thereby propelling the demand for dietary supplements and fueling the overall market growth.
Market Challenges
High Price Associated with Supplements to Hamper the Market Growth
The high cost associated with the premium-sized supplements and the mounting price of regular dietary supplements might hamper the market growth in the forecast period. Moreover, rising consumer inclination towards organic products can further hinder product growth. However, market players are steadily adopting advanced technologies for the manufacturing of supplements to reduce their costs.
Competitive Landscape
According to MarkNtel Advisors, the leading industry players in the Saudi Arabia Dietary Supplements market are Bayer Saudi Arabia, LLC, Amway Corp, Herbalife Nutrition Ltd., Abbott Saudi Arabia Trading LLC., Pfizer Saudi Limited, Glaxo Saudi Arabia Limited, Glanbia Performance Nutrition, Inc., The Archer-Daniels-Midland Company, ARKOPHARMA Laboratories, Company Limited, Bionova Lifesciences Pvt. Ltd.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
A. The Saudi Arabia Dietary Supplements Market is forecast to grow at a CAGR of 8% during 2021-26.
A. Bayer Saudi Arabia, LLC, Amway Corp, Herbalife Nutrition Ltd., Abbott Saudi Arabia Trading LLC., Pfizer Saudi Limited, Glaxo Saudi Arabia Limited, Glanbia Performance Nutrition, Inc., The Archer-Daniels-Midland Company, ARKOPHARMA Laboratories, Company Limited, Bionova Lifesciences Pvt. Ltd. are a few of the leading players in the Saudi Arabia Dietary Supplements Market.
A. Vitamins based on Ingredients are likely to attain the highest CAGR and maintain their significant market share during the forecast period.
A. The rising consumer awareness regarding the importance of wellbeing & prevention, rapid internet penetration, and easy availability of information on online websites & portals of international players in the healthcare sector are the major factors fueling the market growth.
A. The outbreak of the COVID-19 pandemic has positively affected the Saudi Arabia Dietary Supplements Market owing to the rising awareness and concern regarding health.
