Changing consumer preferences due to increased focus on health and prevention and increasing prevalence of chronic diseases
— Emerging research
VANCOUVER, BC, CANADA, November 7, 2022 /EINPresswire.com/ — The vitamins and supplements market The size reached USD 108.4 billion in 2021 and is expected to register a CAGR of 6.9% during the forecast period, according to the latest analysis from Emergen Research. Shifting consumer preferences due to increased focus on health and prevention and increasing prevalence of chronic diseases are key factors expected to support market revenue growth between 2022 and 2030.
Additionally, growing consumer health awareness is another driver of market revenue growth. Different types of products are increasingly being used for vitamins and supplements. The food and nutrition sectors have evolved to provide customers with a more personalized experience and compensate for food losses through complementary feeding. Also, the growing prevalence of chronic diseases is another factor that is increasing the demand for vitamins and supplements. The World Health Organization estimates that in 2021, the prevalence of chronic diseases was around 57%. This indicates that more than 50% of people worldwide suffer from some chronic disease, with cancer, diabetes, and heart and lung disorders being the most common. Every day, a range of vitamins, minerals and nutrients are needed to maintain good health and, more importantly, a strong immune system that fights chronic disease. For example, vitamin D is frequently suggested for the prevention of bacterial and viral illnesses because it is believed to boost people’s immune systems. Vitamin D may also reduce chronic inflammation caused by non-communicable diseases (NCDs) such as diabetes and obesity.
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The latest study provides an insightful analysis of the vast competitive landscape of the Global Vitamins and Supplements Market, with a focus on the leading market rivals and their company profiles. A wide range of strategic initiatives, such as new business deals, mergers and acquisitions, collaborations, joint ventures, technology upgrades, and recent product launches, undertaken by these companies have been discussed in the report. The report analyzes various elements of the competitive scenario of the market such as regulatory standards and policies implemented in the industry over the past few years. Our team of experts has leveraged several powerful analytical tools such as Porter’s Five Forces Analysis and SWOT Analysis to provide a comprehensive overview of the global Vitamins and Supplements market and identify fundamental growth trends.
Companies Featured in the Global Vitamins and Supplements Market:
Herbalife International of America, Inc., Archer-Daniels Midland Company, Amway Corporation, Pfizer, Inc., Abbott, Nestle SA, Nutrition and Biosciences (DuPont de Nemours, Inc.), Bayer AG, Glanbia PLC and Arkopharma.
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Some highlights of the report
The geriatric segment accounted for the largest share of the vitamins and supplements market revenue in 2021. The growing need for essential vitamins, such as vitamin D and vitamin B among the elderly, is a major factor driving the demand in this segment. Vitamin D and vitamin B deficiency is commonly seen in older people and can increase the risk of developing osteoporosis and other age-related disorders. Additionally, vitamin D is needed for bone health, fighting depression, and preventing colds.
The Over-The-Counter (OTC) segment is expected to account for a major portion of revenue during the forecast period. Initiatives to improve healthcare infrastructure, along with the implementation of favorable regulations by most governments around the world, are expected to influence the popularity and growth of over-the-counter dietary supplements. The over-the-counter dietary supplement industry is working to improve how these supplements work through improvements in product formulations, which is likely to provide substantial market development opportunities.
The offline segment accounted for a significant portion of revenue in 2021. The offline distribution channel is either physical or direct-to-consumer (DTC). Supermarkets/hypermarkets, pharmacies, specialty stores, practitioners, and other direct-to-customer channels selling nutritional supplements are examples of offline subcategories. Due to their greater ubiquity, supermarkets/hypermarkets contribute significantly to nutritional supplement sales in Europe and North America.
Emergen Research has segmented vitamins and supplements based on ingredient, form, application, end users, type, distribution channel and region:
Ingredients Outlook (Revenue, USD Billion, 2019 – 2030)
Outlook Form (Revenue, Billion USD, 2019 – 2030)
Application Outlook (Revenue, USD Billion, 2019 – 2030)
Bone and joint health
Digestive health and microbiome
End User Outlook (Revenue, USD Billion, 2019 – 2030)
Type Outlook (Revenue, USD Billion, 2019 – 2030)
Distribution Channel Outlook (Revenue, USD Billion, 2019 – 2030)
The global vitamins and supplements market is further analyzed in key geographies where the market has expanded to significant size. The main regions analyzed are North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. The report offers country-wise analysis to provide a comprehensive analysis of the Vitamins and Supplements market in terms of production & consumption patterns, supply & demand ratio, import/export, revenue contribution, trends and market presence. leading players in each region.
The regional analysis covers:
North America (USA, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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Key points covered in this section:
Estimated revenue generation
Vital data and consumption rate information across all major regional segments
An expected increase in market share
Global Consumption Rate Growth Forecasts
Key questions addressed in the report:
Who are the major players in the vitamins and supplements industry?
Which region is expected to dominate the market in the coming years?
What are the main applications of vitamins and supplements?
Which segment is expected to gain ground in the coming years?
What are the main strategies adopted by the main players in the market?
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