Vitamins Supplements Market to Grow with a CAGR of 9.43% through 2030
Increase in the incidence of vitamin deficiencies and
increase in the aging population is expected to drive the Global Vitamins
Supplements Market growth in the forecast period, 2026-2030.
According to TechSci Research report, “Vitamins Supplements
Market - Global Industry
Size, Share, Trends, Competition
Forecast & Opportunities, 2030”, the Global Vitamins
Supplements Market stood at USD 50.28 billion in 2024 and is anticipated to
grow with a CAGR of 9.43% in the forecast period through 2030. The awareness
among individuals regarding vitamin supplements has led to favorable market
conditions for the global vitamin supplements market. Several factors
contribute to the growth of various vitamin supplement products. The growing
awareness has heightened individuals' focus on their health and concerns about
rising healthcare costs. Vitamins have shown efficacy in addressing various
health issues; for example, Vitamin C enhances the immune system, Vitamin D
promotes bone strength, and vitamin A improves vision, among others. These
diverse benefits of vitamins have generated public interest in incorporating
them into their diets to proactively address health concerns. Additionally, the
aging population and parents with young children prefer dietary supplements.
The elderly population utilizes vitamin supplements to mitigate age-related
conditions, while children are provided with vitamin supplements in the form of
gummy candies to meet their nutritional needs.
Supplementing with
micronutrients such as vitamins C and D, zinc, and omega fatty acids within
specified upper safety levels is a safe, effective, and cost-efficient strategy
to support healthy immune function. Consumers are increasingly incorporating vitamins
into their daily routines, driven by a growing interest in personal health and
well-being. Despite market restrictions and declining purchase trends in the
food and beverage sector, the nutraceuticals industry is experiencing a surge
in demand for healthful and nutritional products, which will further fuel
market growth.
In January 2020, Franchise Group, Inc. launched Vthrive, a new addition to their collection of vitamins, proteins, and supplements. The prevalence of vitamin deficiency and malnutrition is on the rise, contributing to the growth of the vitamins market. Vitamin supplements play a crucial role in augmenting the regular diet by providing essential nutritional value on a daily basis, supporting the development and normal functioning of the body.
Vitamins serve as hormones, coenzymes, and antioxidants, all of which are vital for proper bodily functions. Factors such as evolving dietary preferences, busy lifestyles, increased employment levels, and growing awareness of the health benefits of vitamin supplements are expected to positively impact the global vitamin supplements market.
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The Global Vitamins
Supplements Market is segmented into type, application, source, form,
distribution channel, regional distribution, and company.
Based on Distribution Channel, the hospital pharmacies segment is projected to experience rapid growth during the forecast period. Physicians, dieticians, and other healthcare professionals are increasingly recommending vitamin supplements to their patients to enhance health and improve quality of life. Consequently, prescription medicines are predominantly available in pharmacies, which is expected to contribute to the growth of this segment. Moreover, the hypermarkets/supermarkets segment is anticipated to present favorable growth opportunities in the forecast period due to its wide acceptance among end-users. Factors such as organized product display panels, consumers' willingness to pay premium prices for specific products, and the strong relationship between sales executives and buyers facilitate a better understanding of consumer preferences for products and brands. These factors collectively contribute to the growth of this segment.
Based
on region, the
Asia Pacific region is experiencing rapid market growth. With a
well-established concept of nutritional food, driven by heightened consumer
awareness and concerns about malnutrition, China and Japan stand as leading
markets due to their rich history of traditional medicine. Moreover, the rising
disposable income of the middle-class consumers in the region enables increased
spending on such products to support overall health. Government initiatives to
address micronutrient deficiencies further contribute to the market's growth.
Additionally, the region's growing population drives sales of pediatric
supplements. Consequently, manufacturers are focusing on developing innovative
vitamins and supplements to cater to consumers of all age groups in the region.
Major companies operating in Global
Vitamins Supplements Market are:
- Glanbia Plc
- Pfizer Inc.
- Bayer AG
- Amway Corp.
- GlaxoSmithKline plc.
- Good Health New Zealand
- The Nature's Bounty Co.
- NOW Foods
- Abbott
- Herbalife Nutrition
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“The of technology and
increasing consumer spending are key drivers of the vitamin and supplement
market. In recent years, the growing geriatric population and children
worldwide have led to a significant increase in consumer spending on dietary
supplements. Various food standards and governments are updating regulations
and approvals for vitamin and supplement production, making the market more
competitive. Moreover, the growing consumer emphasis on preventative healthcare
products has enhanced production and marketing efforts. To meet the demands of
the market, manufacturers are increasingly incorporating cutting-edge technologies
with high production efficiency. Rising consumer acceptance and continuous
product innovation will further ensure the growth of the vitamins and
supplements market in the coming years.,” said Mr. Karan Chechi, Research
Director of TechSci Research, a research-based management consulting firm.
“Vitamins Supplements Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Vitamin B, Vitamin E, Vitamin D, Vitamin C, Vitamin A, Vitamin K), By Application (Healthcare products, Pharmaceuticals, Food and beverages, Animal Feed, Personal care), By Source (Synthetic, Natural, Plant, Animal, Others), By Form (Powder, Tablets, Capsules, Soft gels, Gummies), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and E-stores, Hypermarkets/supermarkets), By Region and Competition, 2020-2030F”, has evaluated the future
growth potential of Global Vitamins Supplements Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Vitamins Supplements Market.
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