Dietary Supplement Contract Manufacturing Market Size, Share, Growth, and Industry Analysis, By Type (Vitamins, Botanicals, Minerals, Proteins & Amino Acids, Fibers & Specialty Carbohydrates and Others), By Application (Adults, Geriatric, Pregnant Women, Children, Infants), Regional Forecast From 2023 To 2028

Updated On: 13 November 2023

DIETARY SUPPLEMENT CONTRACT MANUFACTURING MARKET REPORT OVERVIEW

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The global dietary supplement contract manufacturing market size was USD 7.383 billion in 2021 and the market is projected to touch USD 11.466 billion by 2028, with a growing CAGR of 7.61% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Dietary supplements are foods with specific functions that can offer nutrients like vitamins and minerals as well as others of interest. Over the projected period, rising consumer consciousness about their own personal health and wellness is anticipated to be a major driving force. Due to busy work schedules and evolving lifestyles, the working population worldwide struggles to meet the nutritional needs for dairy products. Over the course of the projection period, the market is anticipated to grow in dependence on supplements to meet nutrient needs due to their high level of convenience.

COVID-19 Impact: The COVID-19 Underlying Condition Increased the Manufacturing and Stimulated the Market Growth

The COVID-19 pandemic's exceptional breakout has primarily affected North American and European nations like the U.S., Italy, Spain, the U.K., France, and Germany. Since the dietary supplement contract manufacturing market share saw a rise in demand for supplements that promote immunity, the concentration of the dietary supplement sector in these areas benefited from the scenario. The market for dietary supplement contract manufacturing has benefited from the abrupt effect of COVID-19 due to the spike in demand for items that support immunological and digestive health. This led to a significant increase in the sales of supplements like protein, vitamins, omega-3 fatty acids, and others.

LATEST TRENDS

"Rigorous Product Innovation and Improvising Quality to Augment the Market Growth"

The global dietary supplement contract manufacturing market for nutritional supplements is becoming more and more highly competitive, and major public and private companies are emphasising quality and innovation to protect their brand value. The majority of the major participants in the market for dietary supplements are likewise concentrating on raising the calibre of their offering by making investments in innovation and embracing contemporary technology. The market for dietary supplement contract manufacturing and nutrient supplements has grown to be an appealing niche for new business owners in light of the popularity of vegan alternative foods. By offering high-quality products with stronger brand recognition, new competitors in the dietary supplement sector are leveraging this trend to appeal to the younger demographic.

DIETARY SUPPLEMENT CONTRACT MANUFACTURING MARKET SEGMENTATION

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• By Type

Based on type the dietary supplement contract manufacturing market is classified into vitamins, botanicals, minerals, proteins & amino acids, fibers & specialty carbohydrates and others.

• By Application

Based on application the dietary supplement contract manufacturing market is classified as adults, geriatric, pregnant women, children and infants.

DRIVING FACTORS

"Digitization in Retail Sector to Escalate the Market Growth"

The future growth of dietary supplement contract manufacturing is anticipated to be further accelerated by retail sector digitization. The rising popularity of herbal supplements is also anticipated to fuel market expansion throughout the forecast period. The producers have also been concentrating on growing their sales by enticing their clients to shop online in order to meet the surging demand and uphold safety standards.

"Growing Awareness About Fitness Among Youngsters  to Drive Up the Market Demand "

The need for energy and weight-loss supplements is predicted to rise as there are more gyms, health clubs, and fitness centres available, along with a rise in youth fitness awareness. The need for sports nutrition is anticipated to rise as professional sports become more accepted, which will help the dietary supplement contract manufacturing market share expand.

RESTRAINING FACTORS

"Stringent Regulations and Claim by Government to Restrain the Market Growth"

Over the forecast period, strict rules pertaining to product labelling and health benefit claims are anticipated to pose difficulties for dietary supplements. However, rigorous regulations limiting the highlighted health benefits asserted and product requirements by dietary supplement suppliers are projected to present challenges for the target dietary supplement contract manufacturing market growth throughout the research period.

DIETARY SUPPLEMENT CONTRACT MANUFACTURING MARKET REGIONAL INSIGHTS

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"North America To Dominate The  Market With Presence of Major Manufacturers and Suppliers"

The biggest revenue share of more than quarter 2021 was accounted for by North America, which also dominated the market for dietary supplements. A rising CAGR is anticipated over the projection period due to the rising popularity of foods with high nutritional value but less calories. The demand for dietary supplements is also anticipated to rise throughout the forecast period as a result of new product introductions, which are expected to raise awareness about the use of supplement products in Mexico.

Due to the larger purchasing power of the population, the United States has become the region's largest market for dietary supplements in North America. Over the course of the projected period, market expansion is anticipated to be aided by rising healthcare spending, an ageing population, rising interest in preventative healthcare, and increased interest in achieving wellness via nutrition. The demand for energy and weight management is anticipated to rise as there are more gyms, health clubs, and fitness centres available, along with a rise in youth fitness awareness. The market for dietary supplements will profit from the growing acceptability of sports as a career by increasing demand for sports nutrition.

KEY INDUSTRY PLAYERS

"Prominent Manufacturers to Contribute Towards Expansion of Market"

Given the number of enterprises already in existence, the supplements market has a broad scope. Due to widespread FDA rules, the top players have an advantage and still control the market. The biggest international players also have a geographic reach and great customer brand awareness, giving them an advantage. The top producers place a strong emphasis on product innovation, providing a variety of tastes and entertaining extra formats like candies and chewables. The market is fiercely competitive, with both big public and private businesses putting an emphasis on product development and innovation.

List of Market Players Profiled

• Soft Gel Technologies (U.S.A)
• Trividia Manufacturing Solutions (U.S.A)
• Herbally Yours (U.S.A)
• International Vitamin Corporation (IVC) (U.S.A)
• Tishcon Corporation (U.S.A)
• Lief Labs (U.S.A)
• Vit-Best Nutrition (U.S.A)
• Captek Softgel International (U.S.A)
• Ion Labs (U.S.A)
• Integrated BioPharma (U.S.A)
• GMP Laboratories of America (U.S.A)
• Best Formulations (U.S.A)
• Natural Alternatives International (U.S.A).

INDUSTRY DEVELOPMENT

• April 2019: Ayanda was granted a patent in Europe for a soft gel capsule that can hold live probiotic bacteria. Prior to the development, it was challenging to use gels to transport probiotic bacteria because the high temperatures needed to make gels prevented the survival of bacteria.
• February 2022: Under the brand Nutrilite, Amway India introduced nutritional supplements in chic and practical forms including tasty candies and mouth-dissolving jelly strips. These goods promote bone health, immunological health, and general bodily wellness.
• March 2022: PharmaNutrics introduced five various dietary supplements in the US. The supplements SerotomixPlus, GlucanPlus, Gaba 600, EnergixPlux, and CurcumixPlux serve various functions for supporting the muscles, skeleton, and immune system as well as reducing fatigue and stress.

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players,  recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.