Vitamins and Supplements Market 2022 Analysis by Size, Share, Growth, Trends up to 2030
The vitamins and supplements market size reached USD 108.4 Billion in 2021 and is expected to register a revenue CAGR of 6.9% during the forecast period, according to latest analysis by Emergen Research. Shift in consumer preferences due to increasing focus on health and prevention and rising prevalence of chronic diseases are some key factors projected to support market revenue growth between 2022 and 2030.
In addition, increasing awareness among consumers regarding their health is another factor driving revenue growth of the market. Different types of products are increasingly being used for vitamins and supplements. Food and nutrition sectors have evolved to provide customers with a more tailored experience and make up for dietary loss through supplemental nutrition. In addition, rising prevalence of chronic diseases is another factor increasing demand for vitamins and supplements. The World Health Organization estimates that in 2021, prevalence of chronic diseases was around 57%. This indicates that over 50% of people worldwide have a chronic illness, with cancer, diabetes, and disorders of heart and lungs being the most prevalent. Every day, a range of vitamins, minerals, and nutrients are required to maintain good health and, more significantly, a strong immune system that fights off chronic diseases.
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Some Key Highlights from the Report
The geriatric segment accounted for largest revenue share in the vitamins and supplements market in 2021. Increasing need for essential vitamins, such as vitamin D and vitamin B by elderly individuals, is a major factor driving demand in this segment. Vitamin D and vitamin B-deficiency is frequently observed in older individuals and can increase risk of developing osteoporosis and other age-related disorders. In addition, vitamin D is necessary for bone health, battling depression, and preventing colds. Moreover, increasing elderly population in geographies, such as North America, Europe, and Asia Pacific, is likely to drive market revenue growth during the forecast period.
he Over-The-Counter (OTC) segment is expected to account for a significant revenue share during the forecast period. Initiatives aimed at improving healthcare infrastructure, as well as implementation of favorable regulations by most governments throughout the world, are anticipated to have an influence on popularity and growth of OTC dietary supplements. OTC dietary supplement business is working on increasing functioning of these supplements through product formulation improvements, which is likely to provide substantial market development opportunities.
The offline segment accounted for a significant revenue share in 2021. The offline distribution route is either brick and mortar 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 larger ubiquity, supermarkets/hypermarkets contribute considerably to sales of nutritional supplements in Europe and North America.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Vitamins and Supplements market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Companies profiled in the global Vitamins and Supplements market:
Herbalife International of America, Inc., Archer-Daniels Midland Company, Amway Corporation, Pfizer, Inc., Abbott, Nestle S.A., Nutrition and Biosciences (DuPont de Nemours, Inc.), Bayer AG, Glanbia PLC, and Arkopharma.
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Target Audience of the Global Vitamins and Supplements Market Report:
Key Market Players
Investors
Venture capitalists
Small- and medium-sized and large enterprises
Third-party knowledge providers
Value-Added Resellers (VARs)
Global market producers, distributors, traders, and suppliers
Research organizations, consulting companies, and various alliances interested in this sector
Government bodies, independent regulatory authorities, and policymakers
Emergen Research has segmented the vitamins and supplements based on ingredient, form, application, end-users, type, distribution channel, and region:
Ingredient Outlook (Revenue, USD Billion, 2019 – 2030)
Vitamins
Supplements
Form Outlook (Revenue, USD Billion, 2019 – 2030)
Tablets
Capsules
Soft Gels
Powders
Gummies
Liquids
Application Outlook (Revenue, USD Billion, 2019 – 2030)
Immunity
Brain/Mental Health
Bone & Joint Health
Menopause
Metabolic Health
Beauty Care
Digestive & Microbiome Health
Others
End-Users Outlook (Revenue, USD Billion, 2019 – 2030)
Adults
Geriatric
Pregnant Women
Children
Infants
Type Outlook (Revenue, USD Billion, 2019 – 2030)
OTC
Prescribed
Distribution Channel Outlook (Revenue, USD Billion, 2019 – 2030)
Offline
Online
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Regional Landscape section of the Vitamins and Supplements report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., 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 & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Research Report on the Vitamins and Supplements Market Addresses the Following Key Questions:
Who are the dominant players of the Vitamins and Supplements market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Vitamins and Supplements market?
What are the key growth drivers and restraining factors of the Vitamins and Supplements market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Vitamins and Supplements market and its key segments?
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