The global Vitamin Supplements market size is expected to be worth around US$ 80.37 billion by 2030, according to a new report by Vision Research Reports.
The global Vitamin Supplements market size was valued at US$ 46.12 billion in 2020 and is anticipated to grow at a CAGR of 7.2% during forecast period 2021 to 2030.
|Market Size||US$ 80.37 Billion by 2030|
|Growth Rate||CAGR of 7.2% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Segments Covered||Type, Form, Distribution Channel|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Dabur India; NBTY Inc.; Ricola AG.; Mondelez International; Procter and Gamble; Nutraceutical International Company; BASF SE; The Himalaya Drug Company; Glanbia Nutritionals; Botanicalife International of America, Inc.; Blackmores Limited|
The market is expected to be driven by a rising number of health-conscious consumers and an increasing preference for vitamins in daily diet. The COVID-19 pandemic highlighted the need for vitamin consumption. The National Institute for Health and Care Excellence (NICE) of the U.K. stated that vitamin D is important for bone and muscle health and helps boost the body's immune response to respiratory viruses. Additionally, it is recommended that adults (including pregnant women and breastfeeding women), children, and young people over the age of four years should contribute 10 micrograms of vitamin D daily to their diet.
The nutraceutical industry is an evolving and dynamic sector, which offers novel opportunities to collaborate scientific discovery with the growing consumer interest in health-enhancing foods. It tracks and monitors consumer trends and relationships with mass distributors, thus the products developed in this industry are a response to direct demand.
By Type Analysis
The multivitamin segment dominated the market and accounted for over 40.0% share of the global revenue in 2020. Multivitamin supplements comprise a combination of minerals and vitamins and at times other ingredients too.
The growing awareness regarding health and wellness has resulted in consumers preferring food products infused with vitamins that offer added health benefits and this is likely to shift the consumer attention from medical treatments to preventive care products.
The demand for multivitamin supplements is increasing across the globe as a complete pack of vitamins. Increased consumer awareness regarding the importance of adequate immunity amid the outbreak of the COVID-19 has increased the demand for immunity-boosting food and dietary supplements.
By Distribution Channel Analysis
The offline segment dominated the market and held a revenue share of over 75.0% in 2020. In the offline segment, the hypermarkets/supermarkets segment captured the largest revenue share of more than 40.0% in 2020.
The hypermarkets/supermarkets segment is gaining traction in the market. The well-maintained and arranged products, detailed customer sentimental analysis in order to understand consumer preferences pertaining to products and brands.
By Form Analysis
The tablets segment dominated the market and accounted for over 40.0% share of the global revenue in 2020as the tablet form of vitamins is widely consumed by adults across the world. Although the natural coating provides better dissolution, some other factors determine the absorption on the basis of efficacy and quality.
Tablet form is one of the easiest ways of vitamin supplement consumption. It can be consumed based on prescription and non-prescription as well. Tablets are easy to swallow and come in all types of vitamins. However, vitamin gummies are expected to witness higher growth in the forecast period.
Tablets are the most commonly used type of vitamin supplement owing to their cost-effectiveness. Manufacturers can pack the most amount in a given space in tablet form and tablets have a longer shelf life as compared to capsules.
By Regional Analysis
North America dominated the market and held a revenue share of over 30.0% in 2020. Among North Americans, there is an increase in obesity and lifestyle-related diseases due to their increasingly unhealthy diets, increased disposable income, and access to a variety of processed and ready-to-eat foods.
The consumption of products such as fortified, enhanced, enriched, and enhanced foods and nutritional supplements as part of a varied diet on a regular basis can have favorable influences on health.
Good Health New Zealand
The Nature's Bounty Co.
Nature's Sunshine Products, Inc.
RBK Nutraceuticals Pty Ltd.
American Health, Inc.
By Distribution Channel
Australia & New Zealand
Central & South America
Middle East & Africa
The Vitamin Supplements market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Vitamin Supplements market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Vitamin Supplements market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Vitamin Supplements market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Vitamin Supplements market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Vitamin Supplements capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Vitamin Supplements by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Vitamin Supplements market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Vitamin Supplements market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Vitamin Supplements market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Vitamin Supplements industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Vitamin Supplements market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Vitamin Supplements market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Vitamin Supplements market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Vitamin Supplements market. These factors have benefited the growth of the global market for Vitamin Supplements. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Vitamin Supplements. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Vitamin Supplements are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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