New study: Vitamins Market forecast to 2026 | The market is comprised of several small players, along with a few MNCs, including ADM and BASF. Some of the prominent manufacturers in the global vitamins market are Vitablend Nederland B.V., etc

Vitamins Market:

Vitamins are organic elements present in minute amounts in naturally occurring edible compounds. These elements are crucial in normalizing metabolism, and a deficiency of these may lead to unwanted medical circumstances. The human body cannot produce adequate vitamins, which creates a need for external vitamin sources. This need has been driving the market growth for years, and the emergence of a variety of products with different flavors, unhealthy eating habits, and rising prevalence of medical problems, among others, have further augmented market growth.

The emergence of a variety of innovative flavors in the market under the vitamin and supplement category is likely to boost market growth during the forecast period. Most of the common flavors preferred by consumers are orange, berry, strawberry, lemon, raspberry, chocolate, citrus, and fruit punch, among others. The combination of desirable taste and health benefits propels the growth of the flavored category of vitamin and supplement products. Companies are focusing on adapting to recent trends to capture higher market share. For instance, Shamrock Farms, a U.S.-based flavored beverages company, introduced a Blueberry-Pomegranate smoothie, which is claimed to be the rich source of Vitamins A, C, & E, in January 2020.

Developed markets such as the U.S. and Europe are witnessing a surge in the demand for non-GMO products, and the vitamin and supplement category is not an exception. During the last five years, non-GMO products have constituted approximately a 19.67% share of new product launches in Europe and the U.S., as millennials demand non-GMO vitamin products.

Rising internet penetration and preference for online shopping in the emerging economies of Latin America and Asia are likely to propel the growth of the vitamins market. E-commerce plays an important role in the growth of the vitamins market as it positively affects the sales figures in the industry. For instance, sales of vitamins and supplements witnessed 19.67% YoY growth from 2016 to 2017 through online retail channels. The availability of an extensive assortment of products and massive discounts on online purchasing propel the growth of the vitamins market in the e-commerce sector.

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The Major Players Covered in this Report: The market is comprised of several small players, along with a few MNCs, including ADM and BASF. Some of the prominent manufacturers in the global vitamins market are Vitablend Nederland B.V., Koninklijke DSM N.V., Glanbia PLC, Zagro, Showa Denko K.K., Lonza Group, Sternvitamin GmbH & Co. Kg, Farbest-Tallman Foods Corporation, Watson Inc., The Wright Group, Rabar Pty Ltd., Adisseo, and Btsa Biotecnologías Aplicadas S.L. & More.

By Type, Vitamin A, Vitamin B, Vitamin E, Vitamin D, Vitamin C, Vitamin K By Application, Healthcare Products, Pharmaceuticals, Food & Beverages, Personal Care, Others By Distribution Channel, Online Retail, Offline Retail, Hypermarket, Supermarket, Mass Merchandisers, Specialty Stores

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Vitamins in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Vitamins market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Vitamins and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Vitamins. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

COVID-19 Impact Analysis:
- The COVID-19 pandemic had a significant impact on the on trade segment and Industry.
- Manufacturers are comprehending strategies to revive from the current situation by means of reshaping their sales channels as well as product innovation.
- The duration of the virus outbreak remains a key factor in assessing the overall impact of the pandemic. However, the global Railway Suspension System industry is expected to stabilize after 2019.
- The liquor industry was not impacted severely due to the pandemic.

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Key Vitamins Market Trends:
- The report identifies, determines, and forecasts the Global Vitamins Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Vitamins Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Vitamins Market.

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