US Dietary Supplements Market 2024 Economic Environmental Analysis and Future Forecast 2030

U.S. Dietary Supplements Industry Overview

The U.S. dietary supplement market was valued at an estimated USD 53.58 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2030. Several factors are driving this growth, including the increasing population of senior citizens, heightened awareness of preventive healthcare, and growing demand for sports nutrition supplements. Additionally, a significant shift towards self-directed care among consumers is contributing to the rising demand for dietary supplements in the U.S.

As more individuals focus on managing their health independently, there has been a clear preference for nutraceuticals over prescription pharmaceuticals. This shift is largely fueled by the emphasis on preventive healthcare, combined with the high costs of prescription drugs and the hesitance of insurance companies to cover such expenses. With hospitalization costs on the rise, many consumers are turning to health supplements and nutraceuticals as cost-effective alternatives to maintain their well-being, further bolstering the market.

Several key factors have amplified interest in dietary supplements across the U.S. These include rising healthcare costs, advancements in science and technology, evolving food laws impacting product labels and claims, and a growing geriatric population. Additionally, there is a heightened focus on achieving wellness through diet, which has positioned dietary supplements as a pivotal component of modern healthcare routines.

Among dietary supplements, prebiotics and probiotics stand out as particularly promising segments. These products are known to enhance overall health by supporting gut health, promoting digestion, and maintaining a healthy balance of intestinal flora. Regular consumption of prebiotics has been linked to reduced risks of cardiovascular diseases and improved cholesterol levels, making them increasingly appealing to health-conscious consumers. As a result, the demand for these supplements continues to grow, providing new opportunities for the U.S. dietary supplement market.

Gather more insights about the market drivers, restrains and growth of the U.S. Dietary Supplements Market

Type Insights:

OTC Dietary Supplement Market Segment:

Accounted for a 76.0% revenue share in 2023, highlighting its dominance in the dietary supplement market.
Steady growth in OTC sales in the U.S. is driven by:

Increasing consumer awareness of the nutritional value and health benefits of dietary supplements.
Rising prevalence of self-medication, especially for addressing gastrointestinal and immunity-related concerns.
The convenience of purchasing OTC supplements directly from stores without prescriptions.
Cost-effectiveness, making these products more accessible to a broader range of consumers.

Prescribed Dietary Supplement Market Segment:

Anticipated to grow at a CAGR of 6.3% from 2024 to 2030, indicating a notable expansion within this segment.
Growth drivers include:

Trust in quality assurance and adherence to rigorous safety standards for prescribed supplements.
Guidance from healthcare professionals, offering tailored recommendations that cater to individual health needs.
Authenticity of products, minimizing the risk of counterfeit supplements in prescribed outlets.
Increased demand among individuals with specific medical conditions, who require professional supervision for supplement use.
Potential insurance coverage for medically necessary supplements, enhancing their affordability for patients.

Browse through Grand View Research's Nutraceuticals & Functional Foods Industry Research Reports.

The global dietary supplements market size was valued at USD 177.50 billion in 2023 and is projected to grow at a CAGR of 9.1% from 2024 to 2030.
The global prebiotics market size was valued at USD 6.05 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 14.9% from 2022 to 2030.

Key U.S. Dietary Supplements Company Insights

The market includes both international and domestic participants. Brand market share analysis indicates that key market players are focusing on strategies such as new product launches, partnerships, mergers & acquisitions, global expansion, and others. Some of the largest dietary supplement companies including Amway, Bayer AG, GlaxoSmithKline plc have entered into the market. Along with that, in order to improve their efficiency and by using the international distribution channel, the companies have been ruling the industry.

Key U.S. Dietary Supplement Companies: