Global Vitamin Supplements Market Size By Type(Multivitamin, Vitamin A, Vitamin B, Vitamin C), By Form(Capsules, Powder, Softgels), By Distribution Channel(Online, Offline), By Geographic Scope And Forecast

Vitamin Supplements Market Size And Forecast

Vitamin Supplements Market size was valued at USD 51.2 Billion in 2021 and is projected to reach USD 100.7 Billion by 2030, growing at a CAGR of 7.8% from 2023 to 2030.

Increased demand for vitamins in daily diets and an increase in the number of health-conscious customers are predicted to drive the market. The Global Vitamin Supplements Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Vitamin Supplements Market Definition

Vitamin supplements aim to provide consumers with the daily essential nutritional value that is missing from their usual diets. Vitamins support healthy body development and bodily operations. The normal functioning of the organism depends on the hormones, coenzymes, and antioxidants that vitamins serve. Consumers’ shifting eating patterns, hectic daily schedules, an increase in employment, and growing consumer knowledge of the health benefits of taking vitamin supplements are some of the key factors anticipated to drive the worldwide vitamin supplements market’s expansion in the years to come.

Global Vitamin Supplements Market Overview

The growing paediatric populations around the world have increased consumer spending on vitamin supplements over the past few years. The oversupply of vitamin supplements has boosted market competitiveness, which has led to the revision of many food standards and government legislation and approvals. The growing interest among consumers in preventative healthcare products has also enhanced the efficacy of production and marketing efforts. With outstanding manufacturing efficiency, manufacturers quickly integrate cutting-edge technology to support these items. Due to improved consumer acceptance and product innovation, the market for vitamin supplements will grow during the next few years.

With us relying more and more on the internet, and the whole vitamin supplement scene getting a bit shaky in the health market, people are really starting to look into medicines and treatments made just for them. Getting your hands on supplements is easier than ever, thanks to the internet – it's like the go-to place for buying stuff online. Companies are really focusing on getting those vitamins, minerals, and supplements shipped out through online channels, making it super easy for us to buy them. And get thisWorld Food India says that dietary supplements now make up over 25% of the global nutraceuticals market! That's seriously bumped up the growth rate of the vitamin supplements market around the world in the last few years. It looks like the growth of the vitamins and dietary supplements (VDS) industry is expected to be powered by, you guessed it, dietary supplement products.

Okay, so the market's not exactly booming right now. Strict regulations and this whole new tax setup are really throwing a wrench in things. Basically, all these rules and hoops companies have to jump through before they can even launch a product? It's been causing headaches for years. Think about itVitamin and supplement companies have to hand over samples and swear their stuff is safe before anyone can buy it! Plus, thanks to the Dietary Supplement Health and Education Act of 1994 (DSHEA), there's tons of testing involved, which seriously slows things down. And to top it all off, taxes have gone up by, like, 5–10% recently, so that's definitely putting a damper on market growth.

However, the growing geriatric population in both developed and emerging economies is anticipated to provide market players with lucrative growth prospects in the near future. The majority of vitamin supplement consumers are elderly people. To meet their nutritional needs, build stronger bones, and do other things, they need vitamin supplements. According to the Australian government’s Better Health Channel, vitamin E is frequently mentioned as a potential fountain of youth.

Global Vitamin Supplements Market Segmentation Analysis

The Global Vitamin Supplements Market is segmented on the basis of Type, Form, Distribution Channel, And Geography.

Vitamin Supplements Market, By Type

• Multivitamin• Vitamin A• Vitamin B• Vitamin C• Vitamin D• Others

In 2021, the multivitamin market category was dominant and contributed significantly to global revenue. Minerals, vitamins, and occasionally additional substances are combined in multivitamin supplements. Over 2 billion individuals suffer from vitamin and mineral deficiencies globally, according to the World Health Organization. Multivitamin pills, which offer full nutrients to maintain energy levels, are essential for many athletes to perform at their peak.

As a full vitamin package, multivitamin supplements are becoming more and more popular worldwide. The demand for immunity-boosting food and dietary supplements has increased due to increased consumer knowledge of the need for proper immunity in the wake of the COVID-19 outbreak. As a result, the multivitamin supplements market is expected to grow in size globally over the next few years.

Vitamin Supplements Market, By Form

• Capsules• Powder• Softgels• Tablets• Gummies• Others

The sector for tablets, which dominated the market in 2021, is anticipated to increase at the fastest rate from 2022 to 2030. Around the world, adults frequently use vitamin tablets. Even though the natural coating has a higher solubility, other factors that influence the effectiveness and calibre of the absorption also come into play. These factors are predicted to boost demand for vitamin supplements in tablets over the forecast period, significantly affecting market expansion.

Taking vitamin supplements is super easy – you can just grab a tablet! You can get them with a prescription or without one, and they come in all sorts of vitamin types. Tablets are definitely convenient. But, get this, vitamin gummies are expected to get even MORE popular! Kids and older folks are loving them because they're soft and come in yummy flavors. Even though gummies are trending, tablets are still the most popular way to take vitamins, mainly because they're affordable. Plus, tablets last longer than capsules and are the smallest format for manufacturers. We're also expecting to see big growth in sales of vitamin supplements in other forms like soft gels, powders, and pills.

Vitamin Supplements Market, By Distribution Channel

• Online• Offline

In 2021, the offline segment dominated the market, with the hypermarkets/supermarkets segment accounting for the greatest revenue share. The factors most likely to support the growth of the hypermarkets/supermarkets segment over the forecast period include the well-maintained and arranged products, detailed customer sentimental analysis to understand consumer preferences pertaining to products and brands, and their willingness to pay higher prices for particular products.

Vitamin Supplements Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

The Global Vitamin Supplements Market is segmented on the basis of geography into North America, Europe, Asia Pacific, Rest of the World. In 2021, North America led the market. Due to their increasingly unhealthy diets, rising disposable income, and accessibility to a wide range of processed and ready-to-eat foods, North Americans are experiencing an increase in obesity and lifestyle-related disorders. Additionally, because they offer a variety of health benefits above and beyond basic nutrition, functional foods and supplements have developed in the transitioning face of food.

Key Players

The “Global Vitamin Supplements Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Bayer, Glanbia, Herbalife Nutrition, Nature’s Sunshine Products, Amway, ADM, Ekomir, Abbott Laboratories, Arkopharma Laboratories, and Pure Encapsulations.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.

Key Developments

January 2020 Product Launch • Franchise Group, Inc. released Vthrive as a new product to increase the variety of vitamins, proteins, and supplements available under the brand.

May 2020 Product Launch • To meet the increasing demand for immune-related products, Homart Pharmaceuticals introduced three different vitamin C products under the Toplife and Springleaf brands.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Vitamin Supplements Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behaviour of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the global Vitamin Supplements Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

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Reasons to Purchase this Report

We dig deep into the market, looking at both the money side and the things that aren't about money, by breaking it down into different groups. You'll see the market value in USD Billion for each of those groups and smaller subgroups. We'll point out which region and group we think will grow the fastest and be the biggest. Plus, we'll analyze each region, showing you how much of the product or service they use and what's influencing the market there. We've got a competitive rundown too, showing you who's on top, along with new products, partnerships, expansions, and acquisitions from the last five years for the companies we've looked at. Speaking of companies, we've got detailed profiles that cover their overview, insights, product comparisons, and even SWOT analysis for the major players. We'll give you our take on where the market is now and where it's headed, considering recent events, opportunities, what's driving growth, and the hurdles in both new and established areas. Expect a thorough look at the market from all angles, using Porter's five forces. You'll also get insight into the market's Value Chain. We'll explore the market's dynamics, highlighting potential growth in the coming years. And to top it off, you'll get 6 months of analyst support after your purchase.

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