Market Overview:
Dietary supplements are concentrated sources of nutrients or other substances that are meant to supplement a person’s diet. Dietary supplements are available in various forms such as tablets, capsules, softgels, and powders. These products help meet the nutritional needs of consumers where their regular diet falls short. Dietary supplements provide additional health benefits and help in prevention of chronic diseases.

Market key trends:
Abbott Laboratories has been witnessing increased revenue from dietary supplements in the recent past, owing to its acquisition of Ross Products, the maker of Ensure and Glucerna. Ensure is one of the leading dietary supplement brands globally and provides balanced nutrition in liquid form for adults who have difficulty meeting their daily dietary needs through diet alone. Abbott Laboratories expects Ross Products to continue driving growth of its nutritional products business. The growing consumption of dietary supplements for general wellness and chronic disease prevention will continue to drive the growth of major brands such as Ensure, resulting in increased revenues for Abbott Laboratories.

Porter's Analysis
Threat of new entrants: The dietary supplements industry requires significant investments into R&D and branding in order to gain customer loyalty. This makes it difficult for new companies to enter the market.

Bargaining power of buyers: Buyers have moderate bargaining power as there are many established brands in the market competing for their business. However, brands differentiate themselves based on quality and ingredient sourcing.

Bargaining power of suppliers: Key raw material suppliers such as those providing vitamins, minerals, herbs etc. have moderate bargaining power due to availability of substitute ingredients.

Threat of new substitutes: Potential threat from new health and wellness products that provide similar benefits as dietary supplements.

Competitive rivalry: Intense competition among major players to increase their market share.

SWOT Analysis
Strengths: Large product portfolio and wider global reach of major players. Innovation and new product launches expand market potential.

Weaknesses: customer loyalty to prominent brands limits opportunities for other brands. Regulation and compliance related issues raise production costs.

Opportunities: Rising health consciousness is driving demand for niche and herbal supplements. Expanding into new regions presents opportunities for growth.

Threats: Stringent regulatory norms can impact revenues. Counterfeit products erode brand value in some markets.

Key Takeaways
The Global Dietary Supplements Market Size is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing health consciousness among consumers. The market size is estimated to reach US$ 160.6 Billion in 2021.

Regional analysis The US accounts for the dominant share in the global dietary supplements market currently. However, Asia Pacific region is expected to grow at the fastest pace during the forecast period owing to rising incomes, awareness and westernization of diets in developing countries like India and China.

Key players operating in the dietary supplements market are Abbott Laboratories, Amway (Nutrilite), DuPont, NBTY Inc., Royal DSM N.V., Glanbia Plc., Bayer AG, GlaxoSmithKline PLC., Herbalife International, and BASF SE. Key players are focused on expanding their product portfolio through research and new product launches. Abbott Laboratories offers dietary supplements targeted for sports nutrition, heart and brain health under Ensure and Pedialyte brands.

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