OTC Vitamins and Dietary Supplements Market

OTC Vitamins & Dietary Supplements Market Outlook (2022-2032)

The global OTC vitamins and dietary supplements market reached a valuation of around US$ 90 Billion in 2021 and is slated to accelerate at a CAGR of 6% to top US$ 160 Billion by 2032. This noteworthy jump in market size is because worldwide sales of OTC Vitamin & Dietary Supplements are predicted to increase at a high-value CAGR of 6.0% over the next ten years.

North America accounts for a governing market share of around 38% of the global market, primarily due to increasing dependence on supplements to fulfil the nutrient requirement, which can be linked to the high convenience in the region.

Report Attributes	Details
OTC Vitamins & Dietary Supplements Market Size (2022)	US$ 101.11 Billion
Projected Market Value (2032F)	US$ 181 Billion
Global Market Growth Rate (2022-2032)	6.0% CAGR
North America Pacific Market Share (2022)	38%
Europe Market Share (2022)	32%
Combined Market Share of Capsules & Powder (2022)	55%
Key Companies Profiled	Koninklijke DSM N.V. Reckitt Benckiser LLC Otsuka Holdings Co. Ltd. CSPC Pharmaceutical Group Limited Sanofi S.A. Atrium Innovations Inc. E. I. du Pont de Nemours and Co. Bactolac Pharmaceutical Inc. Dil Limited. GlaxoSmithKline plc. Pfizer Inc. Lonza Group Ltd.

OTC Vitamins & Dietary Supplements Demand Analysis (2017-2021) in Comparison to Market Estimations (2022-2032)

As per Fact.MR, market research and competitive intelligence provider, the global market for OTC vitamins and dietary supplements is likely to be valued at US$ 95.4 Billion in 2022. Rising concern towards preventive healthcare among people is the major factor fuelling the demand for OTC vitamins & dietary supplements.

Increasing adoption of self-medication for primary health issues treatment and rising preference for dietary supplements in daily consumption is expected to boost the sales of OTC vitamins & dietary supplements. The development of strong regulatory policies and government initiatives in healthcare infrastructure development are contributing to the growth of the OTC vitamins and dietary supplements market.

Manufacturers have increased their interest in the marketing of dietary supplements by focusing on maintaining higher quality standards, correct branding, and labeling. All of these factors are expected to drive the market at a 6% CAGR from 2022 to 2032 and raise the popularity of the OTC vitamins and dietary supplements market.

What are the Main Factors Fueling Market Growth for OTC Vitamins and Dietary Supplements?

Latest Innovations in Product Formulation to Improve the Functionality Will Drive the Market for Vitamins & Dietary Supplements.

OTC vitamins and dietary supplements are generally sold without a prescription and have gained wide acceptance for delivering desired body nutrients that aid in the improvement of a person's diet, body stamina, and physical performance. The aging population, shifts in lifestyle habits, and future directions of self-directed consumers are all contributing factors to the market's growth.

Increasing awareness among consumers of the nutritive benefits & health advantages of these products and sales of vitamins & dietary supplements are expected to grow in emerging economies. OTC vitamins and dietary supplements market trends and rising disposable income and financial expansion have a significant impact on the performance of OTC vitamins & dietary supplements.

What are the Restraints being Faced by Manufacturers of OTC Vitamins and Dietary Supplements?

Availability of Supplements without a Valid Prescription is a Major Obstacle to the Growth of the Over-the-Counter Drug Market.

Consumer confidence in OTC vitamins and dietary supplements has been eroded due to an increase in the number of adulterated and misbranded products, as well as mislabelling claims and other controversies.

Concerns raised by regulatory bodies such as the Food and Drug Administration (FDA) have increased industry-specific regulations, restraining the market growth. Government regulations governing the safety and efficacy of OTC vitamins & dietary supplements have slowed the approval process, limiting over-the-counter (OTC) vitamins and dietary supplements market growth.

How Crucial is Development in the OTC Vitamin & Dietary Supplements Market for Start-ups?

New Entrants are Developing Innovative Products to Cater to Consumer’s Demand

Growing emphasis on immune health and digestive health among common people and fitness enthusiasts has bolstered the demand for OTC vitamins & supplements in several regions. The new entrants are making significant developments and launching new products which compete with the popular products in the market. To gain a competitive edge, the new players are investing in the research and development of new dietary supplements to provide good immunity and eradicate vitamin deficiency.

• Founded in 2011, HealthKart is a Gurgaon-based online store for health, sport, and nutritional supplements. It offers products under categories such as vitamins and supplements, Ayurveda and herbs, health food and drive, fitness, wellness, and sports nutrition. Also gives the list of trending products in each category and provides consultation with nutritionists. To date, the startup has gathered overall funding of US$ 89 Million.

In recent years, beauty and wellness products have witnessed tremendous growth, owing to the latest product launches and developments to cater to the demand of different skin types.

• Established in 2017, Hims is a private label brand offering multi-category beauty and wellness products for men. The company offers cosmetics, sexual health products, hair care, supplements, skin care products, and more for different skin types and concerns. It also provides a remote consultation facility. The company is headquartered in San Fransisco, United States, and garnered overall funding of US$ 197 Million to date.

Which Regions Have Bright Investment Scope for OTC Vitamin & Dietary Supplements Suppliers?

North America is likely to govern the Dietary Supplements Market, Europe Grabs the Second Spot in Revenue Collection

High prevalence of chronic diseases and the growing use of products with high nutritional value and low-calorie content, North America is expected to dominate the market during the forecast period. In 2022, the region accounted for 38% share of the global revenue contribution and will expand by 1.6x by 2032. The vertical integration within the value chain has pushed the supply chain to be more compact and efficient. The industry in North America is transforming into a less centralized, decluttering trend.

The manufacturers are concentrating on integrating novel technologies and customized solutions to meet consumer demands. Food and beverage packaging manufacturers are aiming to reduce their weight to save costs from reductions in raw materials and lower transportation costs. Besides, growing awareness about the consumption of supplement products in Mexico on account of new product launches is anticipated to drive the demand for dietary supplements throughout the forecast period.

Asia Pacific region is expected to be one of the largest markets for dietary supplements by 2032 owing to the growing consumer base in countries including India, China, South Korea, and others. Snowballing expenditure on health-enhancing products in the region owing to growing per capita income and increasing awareness is likely to push the demand for dietary supplements throughout the forecast period.

The European region accounted for a significant revenue share in 2021 and is expected to grow at 6.9% over the forecast period. Higher consumer awareness and higher per capita disposable income in developed countries like France, Germany, and the U.K. are expected to drive the market over the forecast period.

Country-wise Insights

What are the OTC Vitamins and Dietary Supplement Demand Outlook for the U.S.?

Increasing Popularity of Vitamin Supplements among Athletes & Gym Enthusiasts is Likely to fuel Regional Sales

The U.S dominates the global market for OTC vitamins and dietary supplements in terms of revenue. The U.S. OTC vitamins and dietary supplements market size is expected to increase 1.9x by 2032.

Rising healthcare spending, a growing geriatric population, and growing interest in preventive healthcare & achieving wellness through diet in the U.S. are expected to boost the demand for OTC vitamins & dietary liquid supplements. According to Centres for Diseases Control & Prevention (CDC), among U.S. adults aged 20 and over, 57.6% used any dietary supplement in the past 30 days, and use was higher among women (63.8%) than men (50.8%).

In 2022, dietary supplement use increased with age, overall, and in both sexes, and was highest among women aged 60 and over (80.2%). Demand for energy and weight management is expected to rise as the number of fitness centers, health clubs, and gymnasiums grows, along with a growing awareness of fitness among young people. According to the National Institute of Health, Americans spend around USD 2.1 billion annually on weight-loss dietary supplements, usually in the form of pills.

Market growth is fueled by easy access to nutritional supplements and rising sales of OTC vitamins & dietary liquid supplements through retail and company-operated stores such as Amway and Herbalife in the U.S.

Why are Sales of OTC Vitamins and Dietary Supplements Flourishing in China?

Increasing Focus on Personal Care Will Propel the Regional Market Growth

In China, the market is growing as people become more aware of personal care and treatment. Furthermore, China's growing geriatric population, as well as the rising incidence of new diseases, is expected to supplement market growth shortly. In 2021, China’s central government, the State Council, announced that it would merge the Newly Cooperative Medical Scheme and Urban Resident Basic Medical Insurance to expand the risk pool and reduce administrative costs.

Since China’s over-arching New Food Safety Law was enacted in October 2015, the regulations on food products, including ingestible beauty, have been advancing steadily to ensure innovation and commercialization. Thereby, encouraging governmental healthcare policies is likely to empower the demand for vitamin and dietary supplements in the country.

Increasing demand for vitamins & dietary ointments and rising sales of vitamins & dietary ointments are the major factors for the OTC vitamins & dietary ointments market growth in China. Ingestible beauty sales are surging in China. For example, Tmall Global reported a whopping 2,266% sales to upsurge throughout the recent 618 Shopping Festival. Broadly hailing the sector as one of the post-pandemic opportunities in personal care, most industry insiders attribute this booming category to two major factors: an increasingly clearer regulatory environment and burgeoning demand fueled by younger generations. Growing consumer concern about dietary supplements, rising expenditure on healthcare products, and a wider availability of products are anticipated to drive the demand for OTC vitamins & dietary powder, capsule, and tablet supplements in China.

Category-wise Insights

Why are Capsules Gaining Immense Popularity in the Market for OTC Vitamins and Dietary Supplements?

Demand for capsules is expected to increase by 2.1X over the forecast period. The increasing penetration of multivitamin products in the form of capsules, owing to their ease of use, affordability, longer shelf life, and ease of access, is expected to boost the demand for OTC vitamins & dietary hard capsule supplements, and soft capsule supplements over the forecast period.

Microencapsulation of final products is becoming increasingly important for ensuring controlled release. Sales of OTC vitamins & dietary hard capsule supplements and soft capsule supplements are expected to rise among health and wellness product manufacturers.

Considerably high sales of capsule-based products can be attributed to the significant growth of the OTC vitamins & dietary hard capsule supplements market as well as the OTC vitamins & dietary soft capsule supplements market.

Will Pharmacies Remain Preferred for Sales of OTC Vitamins and Dietary Supplements?

Pharmacies will remain the most popular OTC channel for vitamin sales, including capsules and tablets. Due to increased consumer awareness of the health benefits of dietary supplements, sales of dietary supplements through pharmacies are expected to grow significantly. A huge variety of OTC vitamins and dietary supplements and special offers on products are expected to boost sales through pharmacies.

Healthcare routine and lifestyle changes, growing demand for dietary supplements hence the rising number of prescriptions for the correct nutrient’s delivery is expected to drive the sales through pharmacies over the next ten years.

Competitive Landscape

OTC Vitamin & Dietary Supplements manufacturers are focusing on expanding their business scope by increasing their production capacity and launching new products that are incorporated with advanced technologies.

• In April 2022, Pharmavite announced a program to provide investments or partnerships to companies developing OTC mental wellness and supplement alternatives to achieve development and commercialization targets.
• In September 2021, BioFit introduced its latest probiotic weight loss supplement that consists of a mixture of lactobacillus bacteria strains and is intended to treat metabolic imbalances for detoxification and inflammation reduction.
• In March 2021, Sanofi agreed to divest an integrated portfolio of its anti-inflammatory drugs to Fidia Farmaceutici, a privately-held company headquartered in Italy. This transaction continues Sanofi’s ongoing strategic transformation by simplifying its portfolio and streamlining to enhance profitability.
• In December 2021, Nestlé agreed to acquire privately-held Atrium Innovations, a global leader in nutritional health products, from a group of investors led by Permira Funds for USD 2.3 billion in cash. Atrium’s 2022 sales are expected to reach almost USD 700 million.

Key Segments in OTC Vitamin & Dietary Supplements Industry Research

• By Form :

  • Liquid Supplements
  • Powder Supplements
  • Tablet Supplements
  • Capsule Supplements

• By Function :

  • Immune health
  • Digestive Health
  • Heart Health
  • Bone & Joint Health

• By OTC Channel :

  • Pharmacies
  • Online 
  • Modern Trade 

• By Region :

  • North America 
  • Europe 
  • APEJ 
  • Japan 
  • Middle East & Africa 
  • Latin America