The global dietary supplement market was worth $115.06 billion in 2018 and is projected to grow continuously at a CAGR of 7.8% during the projected forecast period. This means that by 2025, this market will be worth nearly $194.63 billion.
The number one reason for this significant market increase is a rising awareness for general health and wellbeing among nearly all age groups. Not to mention that that consumer attitude towards the dietary supplements market is very positive, with consumers wanting to make health changes more than ever before.
Additional factors that have aided the overall market growth include:
- Rising geriatric population – People are living longer than ever before, prompting purchases or supplements to increase youthfulness and improve health.
- Increasing healthcare costs – As healthcare costs increase, many people are looking for alternatives to traditional medicine. Many dietary supplements can help prevent illnesses by improving the immune system.
- Food innovation – Innovations in the food industry are prompting more purchases of supplements to meet dietary requirements and/or restrictions.
Dietary supplements come in a variety of forms and ingredients, making it a very flexible market for e-commerce. Supplements may come in these forms:
- Soft Gels
In addition, dietary supplements may include the following ingredients:
- Proteins & Amino Acids
- Fibers & Specialty Carbohydrates
- Omega Fatty Acids
Vitamins emerged as the largest segment in 2018 and is expected to expand in upcoming years and tablets accounted for the highest market share in terms of form in 2018.
Dietary supplements for online businesses is profitable due to a large audience of willing consumers. People of many ages and backgrounds, including adults, infants, geriatric, pregnant women and children are making purchases in this growing industry.