The global vitamin supplements market has been witnessing steady growth over the past few years owing to the rising health consciousness among consumers and growing awareness about the importance of micronutrients for overall well-being. Vitamin supplements help ensure adequate vitamin intake and prevent vitamin deficiencies as modern lifestyle and diets do not always provide all essential micronutrients. The COVID-19 pandemic has further spurred demand as immunity boosting supplements became mainstream. Going forward, the market is expected to continue benefitting from rising disposable incomes, increasing urbanization, and expansion of online retail channels across regions.
Market Dynamics:
Global vitamin supplements market is driven by the growing aging population, changing dietary habits, rising health and wellness trends, and increasing per capita consumer expenditure on healthcare and supplementation. However, side-effects associated with excessive intake, lack of regulatory checks and controls on supplement quality globally, and the competitive pricing of local and private label products are some of the key factors restraining the market growth. At the same time, increasing consumer preference for clean label and plant-based supplements fueled by growing veganism offers significant lucrative opportunities for market players. Moreover, continuous innovations with formulations, enhanced delivery formats, and Research and Development (R&D) into new vitamin sources and combinations support long-term unmet demands.
Key Features of the Study:
- This report provides in-depth analysis of the global vitamin supplements market, and provides market size (US$ 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 approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global vitamin supplements 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 BASF SE, Royal DSM, Lonza, Nature Made, Pharmavite, Life Extension, Garden of Life, Standard Process, Klean Athlete, MegaFood, Abbott Laboratories, Herbalife International, Jarrow Formulas, Doctor’s Best, Rainbow Light, California Gold Nutrition, 21st Century, New Chapter, Nordic Naturals, and Optimum Nutrition
- 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
- The global vitamin supplements 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 supplements market
Detailed Segmentation-
- By Product Type Insights (Revenue, USD Bn, 2019 - 2031)
-
- Multivitamins
- Vitamin D
- Vitamin C
- Vitamin B
- Vitamin E: 5%
- Others (including A, K, etc.)
- By Formulation Insights (Revenue, USD Bn, 2019 - 2031)
-
- Tablets
- Capsules
- Powders
- Liquids
- Gummies
- By Distribution Channel Insights (Revenue, USD Bn, 2019 - 2031)
-
- Pharmacies/Drugstores
- Supermarkets/Hypermarkets
- Health and Wellness Stores
- Online Retail
- Others (including direct sales, etc.)
- Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
-
- BASF SE
- Royal DSM
- Lonza
- Nature Made
- Pharmavite
- Life Extension
- Garden of Life
- Standard Process
- Klean Athlete
- MegaFood
- Abbott Laboratories
- Herbalife International
- Jarrow Formulas
- Doctor’s Best
- Rainbow Light
- California Gold Nutrition
- 21st Century
- New Chapter
- Nordic Naturals
- Optimum Nutrition
