Vitamins and supplements market will reach $196.56 billion

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Pune, India, Sept. 22, 2022 (GLOBE NEWSWIRE) — The world vitamins and supplements market is poised to gain momentum thanks to the growing demand for healthy and innovative products to prevent various coronavirus-related symptoms, such as fatigue, diarrhea, chest pain, and shortness of breath. This information is published by Fortune Business Insights™ in a new report titled “Vitamins and Supplements Market, 2021-2028.” According to the report, the market size was USD 129.60 Billion in 2021 and is projected to reach USD 196.56 Billion by 2028, exhibiting a CAGR of 6.13% during the forecast period. It stood at $119.66 billion in 2020.

A list of major vitamin and supplement companies operating in the market:

  • Bayer AG (Leverkusen, Germany)
  • Koninklijke DSM NV (Heerlen, The Netherlands)
  • Archer Daniels Midland Company (Illinois, USA)
  • BASF SE (Ludwigshafen, Germany)
  • Glanbia, Plc (Kilkenny, Ireland)
  • Nuleaf Naturals LLC. (Colorado, USA)
  • Herbalife Nutrition (California, USA)
  • Reckitt Benckiser Group plc (Slough, UK)
  • NutraMarks Inc. (California, USA)
  • Otsuka Pharmaceutical (Tokyo, Japan)

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Report Scope and Segmentation:

Report cover Details
Forecast period 2021-2028
Forecast CAGR 6.13%
2028 value projection $196.56 billion
base year 2020
Size of the vitamins and supplements market in 2020 $119.66 billion
Historical data 2017-2019
Number of pages 160
Segments Covered By type, by form, by distribution channel
Vitamins and Supplements Market Growth Factors Technological advancements and rising consumer spending to shape market growth
Increase self-managed care and ease of access to the proliferating market

The COVID-19 pandemic to drive demand supported by the need to improve the immune system

The COVID-19 pandemic has had a positive impact on the global market. Consumers are looking for healthy and nutritious products to strengthen their natural defense system. The US National Health and Nutrition Survey, for example, reported that more than 50% of the US population consumed vitamins and supplements during the pandemic. Additionally, researchers have found that function-specific antioxidants, especially to boost immunity, are likely to create new growth opportunities.

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https://www.fortunebusinessinsights.com/vitamins-and-supplements-market-104051

Segments-

Multivitamin segment won 35.06% in 2020: Fortune Business Insights™

Based on type, this market is divided into pediatric supplements, calcium supplements, multivitamins and others. Among these, the multivitamin segment held 35.06% in terms of vitamins and supplements market share in 2020. This growth is attributed to the increasing consumption of vitamins A, C, E and D to reduce vitamin deficiencies micronutrients.

Report cover-

Our skilled analysts have presented an accurate picture of the global vitamins and supplements market by summing, synthesizing and studying data from various crucial sources. They also included multiple facets of the industry with the main focus on determining important market influencers. Thus, the data is reliable and complete. It was gathered through extensive primary and secondary research.

Drivers and Constraints-

Increase awareness of preventative healthcare products to increase growth

The population of children and elderly people is increasing day by day across the world. This has bolstered people’s spending on vitamins and dietary supplements (VDS). Regulatory bodies in various countries are modernizing their implemented standards on the production of vitamins and supplements. In addition, growing consumer awareness of preventive health products is expected to propel the marketing and production efforts of well-known companies.

In addition, many manufacturers around the world are using unique technologies to meet the high demand. At the same time, the rapid acceptance of these products would bolster the growth of the vitamins and supplements market. However, these products must go through the Health and Education Supplements Act 1994, which can lead to a delay in the process. This factor can hamper the demand for supplements and vitamins.

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Regional outlook-

Strong demand for traditional medicines to drive growth in Asia-Pacific

In 2020, Asia Pacific generated USD 54.44 billion in revenue. Adopting the concept of nutritious foods in the region due to growing concerns about malnutrition would promote growth in this region. Japan and China are considered major markets due to high demand for conventional drugs. In North America, the market is expected to witness amazing growth owing to the growing acceptance of healthy intake during busy work schedules, especially in Mexico and the United States.

Detailed Table of Contents:

  • Introduction
    • Search scope
    • Household market segment
    • Research Methodology
    • Definitions and assumptions
  • Summary
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
    • Emerging trends
  • key ideas
    • Global Nutraceuticals Market Overview
    • Supply chain and regulatory analysis
    • Global Vitamin and Supplement Price Trend
    • Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
    • Impact of COVID-19, challenges and opportunities amid the pandemic
  • Global Vitamins and Supplements Market Analysis, Outlook and Forecast, 2017 – 2028
    • Main results/summary
    • Market size estimates and forecasts
      • By type (value)
        • Multivitamins
        • Calcium supplements
        • Pediatric supplements
        • Others (Minerals & Proteins) (Minerals & Proteins)
      • By form (value)
        • Capsule
        • Tablet
        • Powder
        • Liquid & Gel
      • By distribution channel (value)
        • Supermarket/Hypermarket
        • convenience stores
        • Specialty stores
        • Online retail sales
      • By region (value)
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East and Africa
  • North America Vitamins and Supplements Market Analysis, Outlook and Forecast, 2017-2028
    • Main results/summary
    • Market size estimates and forecasts
      • By type (value)
        • Multivitamins
        • Calcium supplements
        • Pediatric supplements
        • Others (Minerals & Proteins) (Minerals & Proteins)
      • By form (value)
        • Capsule
        • Tablet
        • Powder
        • Liquid & Gel
      • By distribution channel (value)
        • Supermarket/Hypermarket
        • convenience stores
        • Specialty stores
        • Online retail sales
      • By country (value)
        • WE
          • By type (value)
            • Multivitamins
            • Calcium supplements
            • Pediatric Supplements
            • Others (Minerals & Proteins) (Minerals & Proteins)
        • Canada
          • By type (value)
            • Multivitamins
            • Calcium supplements
            • Pediatric Supplements
            • Others (Minerals & Proteins) (Minerals & Proteins)
        • Mexico
          • By type (value)
            • Multivitamins
            • Calcium supplements
            • Pediatric Supplements
            • Others (Minerals & Proteins) (Minerals & Proteins)

TOC Continued…!

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Competitive landscape-

Key players aim to conduct R&D activities to introduce new vitamins and supplements

The main companies operating in this market are striving to strengthen their positions by carrying out significant research and development activities.

Some of the others are trying to meet the high demand created by the COVID-19 pandemic. Here are the two latest industry developments:

  • May 2020: Homart Pharmaceuticals has unveiled three new vitamin C products under the Toplife and Springleaf brands. He plans to meet the growing demand for immunity boosters amid the COVID-19 pandemic.
  • April 2020: itSpray brought BOOSTit to Arizona and Nevada. This is a brand of oral spritz vitamins that uses a sublingual delivery system. It can work faster than gummies, powders and pills.

Read related information:

Natural Vitamin E Market to a value of USD 1,187.59 million by 2026; Rise in Demand from Geriatric Population to Facilitate Expansion, Fortune Business Insights™

Herbal Protein Supplements Market reach $7.08 billion by 2027; Increasing Urban Health Awareness to Accelerate Market Expansion: Fortune Business Insights™

dietary supplements market will reach $128.64 billion by 2028 | Dietary Supplements Industry Share, Revenue, Global Demand and Forecast Report by Fortune Business Insights™

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