Vitamin Supplements Market Current Scenario 2020 | Size, Share, Trend, Comprehensive Research Study, Global Analysis, Product Category and Business Opportunity by Forecast to 2025

Market Overview

Global Vitamin Supplements Market has been registering a notable growth over the last few years and is projected to grow by USD 30,520.40 Million from 2018 to 2025 at a CAGR of 6.65%. Vitamin supplements are consumed to increase the intake of vital nutrients in a regular diet. These supplements are provided as single vitamins or blends. They are available in the form of pills, chewable tablets, powders, and liquids. The global vitamin supplements market is expected to register a notable growth rate during the forecast period. Increasing health consciousness and the expansion of fitness centers and health clubs support the demand for vitamin supplements.

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Market Dynamics

In recent years, there has been a rise in the prevalence of vitamin deficiencies due to hectic lifestyles, shortened mealtimes, and loss of nutrition during cooking and processing of food. However, increased consumer awareness regarding this has resulted in a focus on vitamin intake. Knowledge of diseases caused by vitamin deficiency is also propelling consumers to adopt vitamin supplements in their busy lifestyles.

While the consumption of vitamin supplements is increasing among all age groups, there are certain side effects associated with the overconsumption of these supplements. Certain fat-soluble vitamins, such as vitamins A, E, D, and K, can easily build up to toxic levels in the body leading to a medical condition known as hypervitaminosis. For instance, overconsumption of vitamin A can cause dizziness, nausea, headaches, skin irritation, and joint pain whereas vitamin D toxicity cause calcium buildup or hypercalcemia, which leads to nausea, vomiting, weakness, and frequent urination.

Segmentation

The Global Vitamin Supplements Market is segmented into Type, Form, Distribution Channel, and Region.

Based on Type, the market has been segmented into vitamin B, vitamin C, vitamin D, multivitamins, and others. The multivitamins segment dominated the market in 2018 with a market share of nearly 45%. By form, the global vitamin supplements market has been categorized into tablets, capsules & soft gels; powder; and others. The tablets, capsules & soft gels segment accounted for the largest market share in 2018 with a value of more than USD 24 million. Based on the distribution channel, the market has been segregated into store-based and non-store-based.

Key Players

The Prominent Players in the Global Vitamin Supplements Market are 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 Living Essentials Marketing, LLC (US).

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Regional Analysis

Region-wise, the global vitamin supplements market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific dominated the global vitamin supplements market in 2018 with a revenue share of more than 35%. China, Japan, and Australia & New Zealand are the major countries in the region witnessing high demand for vitamin supplements. The market is expected to register the highest CAGR during the forecast period 2019–2025 owing to the increasing focus on preventive healthcare over curative solutions.

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