Global Powder Dietary Supplements Market Size By Type (Amino Acids Powder Dietary Supplements, Botanical Powder Dietary Supplements), By Application (HyperMarket Size/SuperMarket Size, Health And Beau...

The Global Powder Dietary Supplements Market was valued at USD 44.8 billion in 2023 and is expected to reach USD 73.5 billion by 2031, growing at a CAGR of 6.5% during the forecast period from 2023 to 2031. The increasing health consciousness among consumers, growing awareness of the benefits of dietary supplements, and the rising demand for personalized nutrition are key factors driving the growth of this market. Powder dietary supplements, known for their ease of consumption, versatility, and ability to provide targeted health benefits, are gaining popularity among athletes, fitness enthusiasts, and health-conscious individuals.

Drivers:

Rising Health Consciousness: Increasing awareness about the importance of nutrition and preventive healthcare is fueling the demand for powder dietary supplements, which are seen as convenient options for maintaining health and wellness.

Personalized Nutrition Trends: The growing trend of personalized nutrition, where supplements are tailored to individual health needs, is boosting the market for powder dietary supplements.

Increase in Fitness Enthusiasts: The surge in the number of fitness enthusiasts and gym-goers who seek supplements for muscle growth, recovery, and overall performance enhancement is driving the market demand.

Restraints:

High Cost of Supplements: The relatively high cost of premium powder dietary supplements can limit adoption, particularly in price-sensitive regions.

Stringent Regulatory Standards: Variations in regulatory frameworks across regions can pose challenges for manufacturers, impacting market growth.

Opportunities:

Expansion in Emerging Markets: Rapid urbanization, rising disposable incomes, and increasing awareness of health and wellness are creating lucrative opportunities in emerging markets, particularly in Asia-Pacific and Latin America.

Innovations in Supplement Formulations: Advances in product formulations, such as plant-based and organic powder supplements, offer growth opportunities as consumers increasingly seek natural and sustainable options.

Market by System Type Insights:

The Protein Supplements segment dominated the market in 2023, driven by the increasing adoption of protein powders among fitness enthusiasts and individuals seeking muscle growth and weight management. However, the Vitamins and Minerals segment is expected to witness significant growth during the forecast period due to rising consumer focus on overall health and immunity enhancement.

Market by End-use Insights:

Based on end-use, the Fitness Enthusiasts segment accounted for the largest share in 2023, as dietary supplements are commonly used by athletes and bodybuilders for muscle recovery and performance improvement. The Geriatric Population segment is also expected to grow substantially, driven by the increasing need for supplements that cater to the aging population's nutritional requirements.

Market by Regional Insights:

North America held the largest market share in 2023, attributed to high consumer awareness and the well-established fitness and wellness industry in the region. However, Asia-Pacific is expected to register the highest growth rate during the forecast period, driven by rising health awareness, increasing disposable incomes, and the growing demand for dietary supplements in countries like China and India.

Competitive Scenario:

Key players operating in the global powder dietary supplements market include Herbalife Nutrition Ltd., Amway Corp., Glanbia PLC, Abbott Laboratories, and GNC Holdings, Inc. These companies are focusing on product innovations, strategic partnerships, and geographic expansion to strengthen their market presence. For instance:

In 2023, Herbalife Nutrition Ltd. launched a new range of plant-based protein powder supplements to cater to the growing demand for vegan and organic products.

Abbott Laboratories introduced a personalized nutrition program in 2024, providing tailored supplement recommendations based on individual health assessments.

Scope of Work – Global Powder Dietary Supplements Market

Key Market Developments:

2023: Herbalife Nutrition Ltd. launched a new range of plant-based protein powder supplements, addressing the rising demand for vegan and organic products.

2024: Abbott Laboratories introduced a personalized nutrition program offering tailored supplement recommendations to customers based on individual health assessments.

FAQs:

What is the current market size of the Global Powder Dietary Supplements Market? The market size of the Global Powder Dietary Supplements Market was valued at USD 44.8 billion in 2023.

What is the major growth driver of the Global Powder Dietary Supplements Market? The major growth driver is the rising health consciousness among consumers and the increasing demand for personalized nutrition.

Which is the largest region during the forecast period in the Global Powder Dietary Supplements Market? North America is the largest region during the forecast period, driven by high consumer awareness and a well-established wellness industry.

Which segment accounted for the largest market share in Global Powder Dietary Supplements Market? The Protein Supplements segment accounted for the largest market share in 2023.

Who are the key market players in the Global Powder Dietary Supplements Market? Key players include Herbalife Nutrition Ltd., Amway Corp., Glanbia PLC, Abbott Laboratories, and GNC Holdings, Inc.