A new report from Future Market Insights (Newark, DE) estimates the dietary supplement market size will attain a valuation of more than $163 billion by 2023. The compound annual growth rate (CAGR) is expected to be 9.1 percent over the next ten years.

Future Market Insights attributes the growth to a wide array of trends including a more health-conscious public, the increased availability of online medical portals, an increase in sedentary lifestyles, the segmentation of age and gender, and the rising cost of health care services.

“A comprehensive market research study emphasizes the pivotal role of dietary supplements in contemporary health and wellness,” said Nandini Roy Choudhury, client partner for food and beverage at Future Market Insights. “The findings underscore the growing consumer awareness and increasing demand for personalized nutritional solutions, positioning dietary supplements as a key driver in the evolving landscape of preventive health care.”

Some of the key takeaways from the report include:

The United States is leading the market with 33.2 percent of the global market share

China is in second place with a 14.7 percent global market share

Germany emerged as a prominent European market with 8.3 percent of the global market share

The market is spearheaded by the soft gel and capsule segment commanding 54.9 percent of the global market

Vitamins and minerals ingredients are the leading segment with a 20.7 percent market share of the global dietary supplement market

For more information and to download a copy of the report, visit this link.