Vitamin And Mineral Supplement Tablets Market
Global vitamin and mineral supplement tablets market is estimated to be valued at USD 15.91 Bn in 2024, and is expected to exhibit a CAGR of 4.7% during the forecast period (2024-2031). Vitamin and mineral supplements are essential nutrients that bodies cannot produce by themselves. These play a crucial role in maintaining good health and help fill potential nutrient gaps in diets. Vitamin and mineral supplement tablets market has witnessed tremendous growth, owing to factors such as increasing health awareness among people, growing per capita healthcare expenditures, and rising prevalence of lifestyle diseases and deficiency disorders. High stress levels and junk food consumption have led to inadequate intake of essential vitamins and minerals necessary for optimum body functioning. This has boosted demand for dietary supplements to ensure optimum nutrition.
Market Dynamics
Global vitamin and mineral supplement tablets market growth is driven by rising health consciousness among consumers, growing per capita income in developing nations, convenience of product formats, and promotion by supplement brands. However, complex regulatory framework, lack of awareness in rural areas, and potential side-effects of excessive intake are challenges faced by market players. Opportunity lies in expanding to untouched rural markets, innovative new product launches catering to evolving customer needs, leveraging the e-commerce boom, and promoting the health advantages through social media marketing and advocacy programs.
Key features of the study
- This report provides in-depth analysis of the global vitamin and mineral supplement tablets market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global vitamin and mineral supplement tablets market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Otsuka Pharmaceutical Co., Ltd., NutraScience Labs, Glanbia plc, GSK plc, Herbalife International of America, Inc., Bactolac Pharmaceutical, Inc., Noreva Biotech, Pharmavite, Brunel Healthcare, Nestlé, Pfizer, Inc., Abbott, Bayer AG, and American Health, Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global vitamin and mineral supplement tablets market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global vitamin and mineral supplement tablets market
Market Segmentation
Market Segmentation
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