Vitamin Supplements Market: By Form (Vitamins, Minerals, and Mixes), By End-users (Males, Females, and Unisex), By Distribution Channel (Store-Based and Non-Store-Based) - Forecast 2027
|ID: VPR/A&D/1258||Publishing Year: November 2021||Pages: 135||Format:|
Vitamin Supplements Market Overview:
Global Vitamin Supplements Market was valued at $ 118 billion in 2020, and is expected to reach $ 193 billion by 2027, registering a CAGR of 7.2% from 2021 to 2028.
Shifting consumer tastes, increased health awareness, a growing elderly population, and the adoption of a healthy diet are all driving the Vitamin Supplements Market. The confluence of important business trends has created new possibilities for important industry participants. One of the main reasons fuelling the need for dietary supplements is changing lifestyles and eating habits. The Vitamin Supplements Market would benefit from the increasing favourable attitude toward sports nutrition.
To preserve their excellent health and quality of life, the older population is concentrating on adjusting to nutritional supplements especially suited to their requirements. Aging causes a variety of changes in a person, including psychological, physiological, and social changes, all of which have an impact on their nutritional and food choices. The population is becoming more reliant on routine food choices and nutritional consumption habits. Over time, the growing ageing population in certain countries has raised demand for creating age-friendly food alternatives with improved nutritional content to support their overall health, which has led to a rise in demand for dietary supplements, which has fuelled Vitamin Supplements Market development. Consumers have become more conscious of healthy ageing and illness prevention as worries about bone health and mobility have grown. As a result, supplementary nutrition solutions that meet the nutritional requirements of ageing customers are in higher demand.
Science and technology, on the other hand, are assisting individuals in identifying meals that will help them control their weight and general health. Dietary supplements have a hefty price tag, which may limit the Vitamin Supplements Market 's development. Only a few companies, such as Amway, provide supplements under the Nutrilite name, which is considerably more costly. Dietary supplements come with a hefty price tag for research and personalization. Although these dietary supplements are less expensive than other supplements, market growth is expected to be limited.
- Nature's Bounty Co. (US)
- Glanbia PLC (Ireland)
- Herbalife Nutrition Ltd. (US)
- Abbott Laboratories (US)
- Bayer AG (Germany)
- Amway Corp (US)
- Nature's Way Products, LLC (US)
- GlaxoSmithKline plc (UK)
- Otsuka Holdings Co. (Japan)
- Nu Skin Enterprises, Inc. (US)
The worldwide Vitamin Supplements Market has been categorised based on form into vitamins, minerals, and mixes. The vitamin sector is anticipated to be dominated by the worldwide market. Growing consumer awareness of the health advantages of vitamin supplements is a major driver of the segment's development.
End-users have divided the Vitamin Supplements Market into three categories: males, females, and unisex. The unisex category had a commanding 64.37 percent market share in 2018, and it is expected to continue to do so throughout the forecast period. The women's sector, on the other hand, is projected to grow at the fastest rate over the projection period.
A distribution channel has separated the industry into store-based and non-store-based segments. During the projection period, the store-based distribution channel is expected to maintain its dominance. E-commerce networks are assisting in the acceleration of this phase, allowing manufacturers to reach a larger consumer base.
By Form (Vitamins, Minerals, and Mixes), By End-users (Males, Females, and Unisex), By Distribution Channel (Store-Based and Non-Store-Based)
Covid-19 Impact on the Vitamin Supplements Market:
A diet that prioritises the immune system may help to mitigate the effects of the new COVID-19 pandemic and other diseases. Vitamin and mineral supplements are an effective and inexpensive way to enhance immune function in COVID-19 and other respiratory tract disorders patients. As a result, the development of vitamin and mineral lifestyle supplements is anticipated to propel the market forward. The COVID-19 epidemic, on the other hand, has resulted in stringent containment measures, including social distance and distant work, manufacturing closures, and other economic activities. Furthermore, the vitamin and mineral supplement industry's development is hampered by the fragmentation of supply chains for supplement manufacturing. From food to foreign currency, the whole supply chain has been impacted.
The developing economies of Asia Pacific, particularly China and India, are more than ready to adopt a healthy diet, including the usage of vitamin supplements, with the aim of meeting their nutritional requirements. Additionally, with the growing urban population in Asia Pacific, the market for vitamin supplements is growing at the fastest rate.
Due to the growing urban population and increasing disposable income, Asia Pacific is regarded as one of the fastest-growing markets for vitamin supplements.
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