Saudi Arabia supplements market is flourishing due to rapidly growing immigrant working population, increasing technology innovations, intensifying public health campaigns by the government, and health conscious consumers’ widespread use of smartphones for innovative products.
BlueWeave Consulting, a strategic consulting and market research firm, in its recent study, forecasts Saudi Arabia Dietary Supplements Market to grow from USD 294.7 million in 2021 to USD 605.83 million by 2028, at a CAGR of 11.2% during the forecast period (2022–2028). Major driving factors for the market include growing millennial labor force, increasing discretionary spending, expanding budget for public health, and rising health awareness.
Increasing Incidences of Infectious and Lifestyle Diseases
Rising incidences of infectious and non-infectious diseases as well as increasing per-capita healthcare expenditures are driving the price of healthcare products and services in Saudi Arabia. It, in turn, has led to a significant increase in the use of nutritional supplements among people in Saudi Arabia. The Saudi Ministry of Public Health has notified various dietary recommendations, such as calorie balance and the consumption of dietary fiber for the people to help them understand their regular nutritional requirements including the types and amounts of nutrition consumers should consume (for people of all ages).
Saudi Arabia Dietary Supplements Market – By Product Type
The combination dietary supplements accounted for more than 32% of the country’s dietary supplements market share by product type in 2021, and the segment is expected to maintain its dominance during the forecast period mainly due to people’s awareness in maintaining good health, compensating for poor eating habits, and even lowering the risk of chronic diseases. Vitamins, for example, have grown to gain a significant share of Saudi Arabia Dietary Supplements Market in recent years. Vitamins help in stimulating the immune system, promoting healthy growth and development, and supporting the proper functioning of cells and organs. Vitamin-based dietary supplements are in high demand, as they are a vital component for health and growth. The rising prevalence of vitamin deficiency among Saudi Arabians could also enhance the demand for vitamin-based supplements. This, in turn, could boost the market growth.
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Saudi Arabia Dietary Supplements Market: Regional Insights
Geographically, Saudi Arabia Dietary Supplements Market is segmented into Western, Central, Southern, Eastern, and Northern regions. The western region, followed by the Central region, was the leading region in the country’s dietary supplement market in 2020. The Western region is expected to maintain its lead throughout the forecast period, mainly due to the growing urban population, rapid urbanization, and steadily increasing network connectivity.
Impact of COVID-19 on the Saudi Arabia Dietary Supplements market
Significantly high growth rates in the consumption of nutritional supplements, and vitamins and minerals were recorded as the coronavirus pandemic intensified. People have increasingly become conscious about their health and weight management because of the unexpected changes in their way of life after being infected by coronavirus. Further, deaths and illnesses caused by Covid-19 infection have driven the need for people to take increasing responsibility and ownership of their health and implement measures that enhance their well being. The market growth is projected to further accelerate as more people become aware of the various health advantages of dietary supplements. Also, during the intense coronavirus outbreak, sales of nutritional supplements, probiotic supplements, fatty acid supplements, protein supplements, and vitamins and minerals skyrocketed. The severity of Covid-19 has transformed people’s perceptions of nutrition, lifestyle, and weight management have transformed as many people anticipate that they would become unproductive and become obese.
Competitive Landscape
Saudi Arabia Dietary Supplements market is highly fragmented. Major players in the market include Bayer Saudi Arabia, LLC, Amway Corp., Herbalife Nutrition Ltd., Abbott Saudi Arabia Trading LLC, Pfizer Saudi Limited, Glaxo Saudi Arabia Limited, Glanbia Performance Nutrition, Inc., The Archer-Daniels-Midland Company, ARKOPHARMA Laboratories Company Limited, and Bionova Lifesciences Pvt. Ltd.
Recent Developments
Saudi Arabia dietary supplements market has witnessed strategic developments such as expansions, new product launches, mergers & acquisitions.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Saudi Arabia Dietary Supplements Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Dietary Supplements Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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