Vitamins Market, By Source (Plant, Animal and Others), By Product Type (Vitamins A, Vitamins B, Vitamins C, Vitamins D, Vitamins E and Vitamins K), By End Use Industry (Food & Beverages, Personal Care, Animal Feed, Pharmaceuticals and Others), By Distribution Channel (Hypermarket, Supermarket, Mass Merchandisers, Specialty Stores and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Feb 2024

Code : CMI399

Pages :184

Formats :

Excel and PDF

Industry : Food Ingredients

Vitamins MarketSize and Trends

The Vitamins Market size is valued at US$ 7.12 Bn in 2024 and is expected to reach US$ 10.84 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.

Market Trends:

Shift towards natural vitamins: The growing demand for natural vitamins has significantly influenced the market in recent years. Consumers are increasingly seeking out vitamins made from natural and organic sources rather than synthetic ones. They want vitamins derived from whole foods rather than isolated in a lab. This trend can be attributed to rising health consciousness among people and a general preference for products that are chemical-free and perceived as 'purer' forms.

Brands have recognized this shifting preference and have reformulated many of their vitamin offerings to prominently display usage of natural sources. For example, many brands now extract vitamin C from acerola cherries or rose hips rather than using the synthetic ascorbic acid. Vitamin E formulations are moving from synthetic dl-alpha-tocopherol to natural d-alpha-tocopherol derived from sunflower or soybean oil. Mineral supplements, too, are highlighting usage of sources like calcium carbonate derived from oyster shells or potassium from bananas rather than harsh-sounding sulfates or gluconates.

Growing demand for gummy and chewable vitamins: The growing demand for gummy and chewable vitamins is having a significant influence on the market. With hectic modern lifestyles and time constraints, consumers are preferring fun, easy-to-consume formats like gummies over traditional pill-form vitamins. This changing consumer preference towards more palatable formats is encouraging vitamin manufacturers to diversify and innovate their product offerings.

Many big brands like Hotz, Flintstones, Olly, and Vitafusion, which traditionally dominated the pill supplements market are now launching an extensive range of gummy and chewable multivitamins catering to both kids and adults. They come in various fruity flavors and bright colors, crafted for enjoyable consumption even for those who dislike swallowing pills. The gummy format improves vitamin absorption rates as it remains in the mouth for a while, aiding complete breakdown and digestion. This also helps address issues like mega dosing as consumers are likely to chew gummies slowly decrease hurriedly gulping pill supplements.