Vitamin Supplements Market Size, Share, Growth, Trends, Sales, Consumption and Global Industry Research Report – 2024

Market Overview:

The market for global vitamin supplements is expected to surge at a CAGR of 14.0% during the forecast period ending 2024. Innovative products and packaging has resulted in formulation of softgels, gelcaps, apart from the traditional tablets, and powders. The emergence of ecommerce is a strong commercial driver of the market as 60 % of U.S. citizens research the internet for health information and buying decisions. The emergence of the self-serving and informed consumers is another change that the players must comprehend with. Walmart successfully integrated its brick and mortar stores with its online platform driving the sales of vitamin supplements to a high note. Growing demand from application extensions such as adoption of vitamins by the food and beverages, and cosmetics is another driver of the market.

Growing awareness of benefits of vitamins, increasing urbanization, growing influence of media, changing lifestyles, poor dietary intake due to sedentary lives and consumption of junk foods, rising incomes, growing adoption of vitamins in animal feeds, growing prevalence of immune-compromised patients and disease such as rheumatic disorders, cardiology, and allergy are the drivers of the market. However the growing ageing population especially the baby boomers will shift the healthcare market towards supplements. The effect is reflected by the estimates by the Council for Responsible Nutrition which states that 68% of Americans consume dietary supplements in 2015. Moreover, older people account for 35 percent of U.S. health supplements market.

Channel proliferation and market fragmentation are challenges facing the players. The leading manufacturers hold less than 30 % sales reflecting a lack of brand awareness and an absence of consumer loyalty. The unfortunate situation has resulted in pressure on the pricing margin and the menace of substandard products with vitamin concentration below the prescribed limits. Concerns over whaling coupled with the poor yields of vitamin A in vegetable sources is another restriction hampering the market

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Major Players:

Prominent players of the Vitamin Supplements Market include Glanbia plc. (US), Pharmavite LLC., and Nutramark, LLC, Country Life LLC., Reckitt Benckiser Group plc. (UK), NBTY, Inc. (US), Rainbow Light Nutritional System, Inc., Reckitt Archer Daniels Midland Company, BASF, Unilever, and DuPont and others.

Industry Segmentation:

To generate an accurate assessment of the market the global vitamin supplements market is divided by type, application, end users and others.

Based on type, the market has been segmented by Vitamin D, Vitamin C, Vitamin A, Vitamin B, vitamin E, others

Based on application, the market has been segmented by personal care, healthcare, food & beverages, others

Based on channels, the market has been segmented by retail, whole sale, ecommerce and others

Based on regions, the market has been segmented by North America, Europe, Asia Pacific, Middle East and Africa.

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