Press release
Multivitamin Capsules and Tablets Market is projected to grow at a CAGR of 6.33% During Forecast Period 2020 to 2025
Global Multivitamin Capsules and Tablets Market is estimated to be valued at USD 20,706.3 Million by 2025, exhibiting a CAGR of 6.33% during the forecast period. Multivitamin capsules & tablets refer to dietary supplements in the form of capsules & tablets containing various vitamins and other nutrients essential for the human body.
Asia-Pacific was the largest market for multivitamin capsules & tablets in 2020 and is expected to follow the trend during the review period. China accounted for 41.22% share of the Asia-Pacific multivitamin capsules & tablets market in 2020, whereas the market in India is projected to register the highest CAGR during the review period. The increasing spending on multivitamins as a result of growing consciousness regarding healthcare among consumers is driving the growth of the multivitamin capsules & tablets market in the region. The North American market accounted for a significant share in 2020 of the global multivitamin capsules & tablets market. The US is the major contributor to the growth of the market in the region. The growing concern regarding vitamin deficiency among the American population, coupled with increased spending on healthcare, is likely to drive the market growth in North America.
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The Global Multivitamin Capsules and Tablets Market is expected to register a notable growth rate during the forecast period. Increasing health consciousness and the number of fitness centers and health clubs support the demand for multivitamin capsules and tablets. Moreover, the market players may benefit from offering multivitamin capsules and tablets targeted at the female population. However, the side effects associated with overconsumption of multivitamins are projected to restrain the growth of the market.
Key Players
Market Research Future recognizes The Nature's Bounty Co. (US), Glanbia plc (Ireland), Herbalife Nutrition Ltd. (US), Abbott Laboratories (US), Amway Corp (US), Bayer AG (Germany), GlaxoSmithKline plc (UK), Otsuka Holdings Co., Ltd (Japan), Nature's Way Products, LLC (US), and Nu Skin Enterprises, Inc. (US) as the Key Players in the Global Multivitamin Capsules & Tablets Market.
Key Findings of the Study
The Global Multivitamin Capsules & Tablets Market is expected to register a growth rate of 6.33% from 2019 to 2025.
The women segment is estimated to register the highest growth rate of 6.49% during the forecast period.
The store-based segment is expected to hold a larger market share during the forecast period.
Segmental Analysis
Global Multivitamin Capsules and Tablets Market has been segmented on the basis of End User, Distribution Channel, and Region.
The market, by end user, has been divided into men, women, and unisex. The unisex segment accounted for the largest market share in 2020. The consumption of unisex multivitamins has historically been high. The growth of the segment can be attributed to the increased consumption of multivitamins to prevent vitamin deficiency caused by poor diet or illness. However, increasing awareness about the different nutrient needs based on gender is expected to increase the sale of multivitamin capsules & tablets for women. Thus, the women segment is projected to exhibit the highest CAGR during the forecast period.
Based on the distribution channel, the market has been categorized into store-based and non-store-based. The store-based segment has further been sub-divided into supermarkets & hypermarkets, specialty stores, and others. The store-based segment accounted for a larger market share in 2020 with supermarkets & hypermarkets contributing to the majority of multivitamin capsules & tablets sales. Consumers prefer store-based channels as they provide a one-stop shopping experience. However, the non-store-based segment is expected to record a higher growth rate during the review period.
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Regional Analysis
Geographically, the global multivitamin capsules & tablets market has been segregated into North America, Europe, Asia-Pacific, and the Rest of the World. As per MRFR analysis, Asia-Pacific accounted for a dominant share of the global market in 2020 with China being the major consumer of multivitamin capsules & tablets. The North American multivitamin capsules & tablets market also accounted for a significant share in 2020. With a high focus on preventive healthcare, the consumption of multivitamins is extremely high in the US. Germany held a significant share of 18.20% of the European multivitamin capsules and tablets market in 2020. Market growth in Germany can be attributed to increased spending on multivitamins, particularly by the elderly to prevent health issues. The rest of the world accounted for 5.06% of the global market share in 2020.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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