Vitamins and Supplements Market to Reach USD 196.56 Billion


Pune, India, Sept. 22, 2022 (GLOBE NEWSWIRE) — The global Vitamins and dietary supplements market aims to benefit from the increasing demand for healthy and innovative products to prevent various symptoms related to the coronavirus such as fatigue, diarrhea, chest pain and shortness of breath. This information is shared by Fortune Business Insights™ in a new report titled “Vitamins and Dietary Supplements Market, 2021-2028According to the report, the market size was US$129.60 billion in 2021 and is projected to reach US$196.56 billion by 2028, growing at a CAGR of 6.13% over the forecast period. In 2020 it was USD 119.66 billion.

A list of well-known vitamins and dietary 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, United States)
  • Herbalife Nutrition (California, USA)
  • Reckitt Benckiser Group plc (Slough, UK)
  • NutraMarks Inc. (California, USA)
  • Otsuka Pharmaceutical (Tokyo, Japan)

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Scope and segmentation of the report:

report coverage details
forecast period 2021-2028
Forecast CAGR 6.13%
Value prognosis 2028 $196.56 billion
base year 2020
Market size of vitamins and dietary supplements in 2020 $119.66 billion
Historical data 2017-2019
number of pages 160
Covered Segments By type, by shape, by distribution channel
Vitamins and Dietary Supplements Market Growth Drivers Technological advances and rising consumer spending are shaping the market growth
Increasing self-directed care and facilitating access to the proliferative market

COVID-19 pandemic is set to boost demand, helped by the need to boost immunity

The COVID-19 pandemic has had a positive impact on the global market. Consumers are looking for healthy and nutritious products to boost their natural defenses. For example, the US National Health and Nutrition Examination Survey mentioned that more than 50% of the US population consumed vitamins and supplements during the pandemic. Additionally, researchers have found that function-specific antioxidants, particularly to boost one’s immunity, will create new growth opportunities.

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segments

Multivitamins segment earned 35.06% in 2020: Fortune Business Insights™

Based on Type, this market is segmented into Pediatric Nutritional Supplements, Calcium Supplements, Multivitamins and Others. Of these, the Multivitamins segment held 35.06% of the vitamins and dietary supplements market share in 2020. This growth is attributed to the increasing consumption of vitamins A, C, E, and D to reduce micronutrient deficiencies.

report coverage-

Our experienced analysts have painted an accurate picture of the global Vitamins and Dietary Supplements market by summarizing, synthesizing and examining data from various major sources. They’ve also included multiple facets of the industry, with a focus on identifying the key market influencers. Thus, the data is reliable and comprehensive. It has been collected through extensive primary and secondary research.

Driver & Restraints-

Raising awareness of preventative health products to drive growth

The number of children and seniors is growing day by day worldwide. This has increased people’s spending on vitamins and dietary supplements (VDS). Regulatory bodies in various countries are modernizing their standards for the manufacture of vitamins and dietary supplements. Also, rising consumer awareness of preventive healthcare products is expected to fuel the marketing and manufacturing efforts of reputable companies.

In addition, numerous manufacturers use technologies that are unique worldwide to meet the high demand. At the same time, the rapid acceptance of such products would boost the growth of the vitamins and dietary supplements market. However, these products must go through the Food Supplements Act 1994, which can result in process delays. This factor can hamper demand for dietary supplements and vitamins.

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Regional Insights-

High demand for traditional medicines supports growth in the Asia-Pacific region

In 2020, Asia Pacific generated revenue of US$54.44 billion. Adoption of the concept of nutritious food in the region due to increasing concerns about malnutrition would support growth in the region. Japan and China are considered the leading markets due to the high demand for conventional medicines. In North America, the market will grow amazingly due to the increasing acceptance of healthy eating during busy work schedules, especially in Mexico and the US

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Detailed table of contents:

  • introduction
    • research area
    • Market SegHouseholdtation
    • research methodology
    • Definitions and Assumptions
  • summary
  • market dynamics
    • market leader
    • Market Restrictions
    • market opportunities
    • New trends
  • Important Findings
    • Overview of the global Nutraceuticals market
    • Supply Chain and Regulatory Analysis
    • Global price trend for vitamins and dietary supplements
    • Recent Industry Developments – Policies, partnerships, new product launches and mergers and acquisitions
    • Impact of COVID-19, challenges and opportunities amid the pandemic
  • Global Vitamins & Dietary Supplements Market Analysis, Insights & Forecasts, 2017-2028
    • Key Findings / Summary
    • Market size estimates and forecasts
      • By type (value)
        • multivitamins
        • Calcium Supplements
        • Pediatric Supplements
        • Other (Minerals & Protein) (Minerals & Proteins)
      • By Form (Value)
        • capsule
        • tablet
        • powder
        • liquid & gel
      • By Sales Channel (Value)
        • Supermarket/Hypermarket
        • convenience stores
        • specialty shops
        • online retail
      • By Region (Value)
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East & Africa
  • Vitamins & Dietary Supplements Market Analysis, Insights and Forecasts in North America, 2017-2028
    • Key Findings / Summary
    • Market size estimates and forecasts
      • By type (value)
        • multivitamins
        • Calcium Supplements
        • Pediatric Supplements
        • Other (Minerals & Protein) (Minerals & Proteins)
      • By Form (value)
        • capsule
        • tablet
        • powder
        • liquid & gel
      • By Sales Channel (Value)
        • Supermarket/Hypermarket
        • convenience stores
        • specialty shops
        • online retail
      • By Country (Value)
        • US
          • By type (value)
            • multivitamins
            • Calcium Supplements
            • Pediatric Supplements
            • Other (Minerals & Protein) (Minerals & Proteins)
        • Canada
          • By type (value)
            • multivitamins
            • Calcium Supplements
            • Pediatric Supplements
            • Other (Minerals & Protein) (Minerals & Proteins)
        • Mexico
          • By type (value)
            • multivitamins
            • Calcium Supplements
            • Pediatric Supplements
            • Other (Minerals & Protein) (Minerals & Proteins)
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Table of contents continued…!

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competitive landscape-

Major players aim to conduct R&D activities to introduce novel vitamins and dietary supplements

Key companies operating in this market strive to strengthen their positions through extensive research and development activities.

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

  • May 2020: Homart Pharmaceuticals introduced three new vitamin C products under the Toplife and Springleaf brands. It plans to meet the rising demand for immunity boosters amid the COVID-19 pandemic.
  • April 2020: itSpray rolled out BOOSTit across Arizona and Nevada. It is an oral injectable vitamin brand that uses a sublingual delivery system. It can work faster than gummies, powders and pills.

Read related insights:

Natural Vitamin E Market valued at $1,187.59 million by 2026; Increase in demand from geriatric population to support expansion, Fortune Business Insights™

Vegetable Protein Supplements Market reach US$7.08 billion by 2027; Growing Health Awareness Among City Dwellers To Accelerate Market Expansion: Fortune Business Insights™

market for dietary supplements expected to reach $128.64 billion by 2028 | Nutritional Supplements Industry Share, Revenue, Global Demand and Forecast report by Fortune Business Insights™

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