Vitamins & Herbal Dietary Supplements Market - Forecast(2023 - 2028)

Vitamins & Herbal Dietary Supplements Market size is estimated to be $5.83 billion in 2019, growing at a CAGR of 7% during the forecast period 2020-2025.Increasing health awareness among consumers and the rise in chronic health symptoms is a major factor driving the Vitamins & Herbal Dietary Supplements market during the forecast period 2020-2025.Futhermore, dietary supplements serves as an alternative and complementary medicine which is used to add nutrients to the diet or lower the risk of health problems such as osteoporosis or arthritis thereby providing health benefits and contributing to its market growth. In addition dietary supplements comes in the form of vitamins, minerals, fibers, amino acids, multivitamins, botanical medicines, herbal medicines, herbs or other plant or enzymes. In September 2019, the CRN Consumer Survey on Dietary Supplements revealed that the highest overall dietary supplement usage till date, with 77 percent of Americans reported they consume dietary supplements. Furthermore, the survey reports that majority of male and female, aged 18+ take dietary supplements, which is in line in previous survey findings. In addition among all the age group, adults between the ages 35 and 54 have the highest usage of dietary supplements at 81 percent.

The report: “Vitamins & Herbal Dietary Supplements Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Vitamins & Herbal Dietary Supplements Market.

By Form- Pills, Capsules, Powder, Liquid and Others.

By Distribution Channel- Pharmacies & Drug Stores, Supermarket& Hypermarket, Online Channels and Others.

By Geography-North America, Europe, Asia-Pacific and Rest of the World.

By Form the Vitamins & Herbal Dietary supplements is segmented into Pills, Capsules, Powder, Liquid and Others. Increasing health benefits from herbs and botanical medicine in form of liquid, pills or other is a significant factor driving its market growth. Furthermore, the use of American Ginseing in the form of capsule or powder is used to reduce the stress, boost immune system, improve digestion and to improve brain function like memory, behavior and mood is also generating huge revenue for this segment. Powder segment is projected to be the fastest growing segment with a CAGR of 5.9% during the forecast period 2020-2025. 

Pharmacies and Drug Stores accounted for the largest market share in 2019 owing to the ease of availability of Vitamins & Herbal Dietary Supplements over there. Furthermore, MedPharmacy and Wellness carries a large selection of herbal natural, vitamin and mineral supplement. Moreover, supermarket also provide vitamins & herbal dietary supplements to its customers at a particular place thereby contributing to its market growth.

North America dominated the Vitamins & Herbal Dietary Supplements Market with a region share 42% in 2019. Rising geriatric population with many Americans suffering from debilitating condition and disease and adoption of regular exercises, healthful eating habits, and nutritional supplements as a mean for a healthy lifestyle along with the increase in health concerns and a better healthcare structure is a major factor driving its market growth. Furthermore, the presence of major players in that region is further driving its market growth. Moreover, according to the Centers for Disease Control and Prevention about 647,000 Americans die from heart disease each year-that is 1 in every-4 deaths.

Increasing incidence of chronic diseases leading to diabetes and other cardiovascular diseases is a major driving the Vitamins & Herbal Dietary Supplements Market during the forecast period 2020-2025.Futhermore, the rising diabetes patients and adoption of multivitamins tablet is driving the demand of Vitamins & Herbal Dietary Supplements Market during the forecast period 2020-2025. Moreover, according to the World Health Organization about 422 million people worldwide have diabetes particularly in low and middle-income countries and 1.6 million deaths are directly attributed to diabetes each year.

Increasing demand of vitamins and protein intake among people is a major factor driving Vitamins & Herbal Dietary Supplements Market during the forecast period 2020-2025. Moreover the body-builders usually prefer taking protein powders and multivitamin tablet to strengthen their core body structure is also contributing to its market growth. Furthermore, according to the World Health Organization vitamin A supports healthy eyesight and immune system function. In addition deficiency of vitamin A affected an estimated 190 million pre-school children.

Rising side-effects by the consumption of vitamins & herbal dietary supplements leading to increased risk of bleeding or if taken before surgery can change response to anesthesia is restraining its market growth during the forecast period 2020-2025.Futhermore, food supplements can cause adversive side-effects. Consuming excessive amount of vitamin A in supplement form can cause liver damage, reduce bone-strength, headaches and birth-defects. Large doses of certain vitamins and minerals can cause nausea, vomiting, nerve damage, weight loss, muscle weakness and other illness.

Product Launches, Merger & Acquistion, joint ventures and R&D activities are key strategies adopted by the players in Vitamins & Herbal Dietary Supplements Market. Vitamins & Herbal Dietary Supplements Market top 10 companies are Cargill Inc, Lonza Group, SAS Nexira, SunOpta, Tate & Lyle, Herbal life International, Binova Lifesciences, NBTY Inc, Pfizer and Glanbia.