Japan OTC Vitamins and Minerals Market 2023 Share, Size, Key Players, Revenue Analysis | Prudent Markets

The Japan OTC Vitamins and Minerals Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global Japan OTC Vitamins and Minerals market. This report explores all the key factors affecting the growth of the global Japan OTC Vitamins and Minerals market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Report Description of the Japan OTC Vitamins and Minerals Market Analysis

Research Scope and Assumption

The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)

The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis

We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses

All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis

Inflation has not been accounted for in order to estimate and forecast the market

Numbers may not add up due to rounding off

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Facilitate decision-making based on strong current and forecast data for Japan OTC Vitamins and Minerals Market Analysis

Develop strategies based on the latest regulatory framework

Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market

Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Japan OTC Vitamins and Minerals Market Analysis

Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders

To strategically profile key players and comprehensively analyze their market shares and core competencies

We have technically sound team which do a deep dive research and also provide strategy based consulting analysis

Japan OTC Vitamins and Minerals Market Analysis Executive Summary

OTC vitamins are generally sold without any medical prescription and have been gaining widespread acceptance for delivering desired body nutrients that help improve an individuals diet, body endurance, and muscle strength. This is one of the primary factors influencing growth of the OTC vitamins and market.

Market Size and Key Findings

The Japan OTC Vitamins and Minerals Market Analysis size stood at around USD 1.9 billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 2.93% during the forecast period.

Revenue in the Vitamins & Minerals segment amounts to US$1,903.49m in 2021. The market is expected to grow annually by 2.93% (CAGR 2021-2028).

Market Dynamics

Market Growth Drivers Analysis

The growing geriatric population, has improved the consumers spending over the past few years. Several food standards and governments are updating the regulations and approvals for the overproduction of vitamin & supplements that have made the market more competitive. The rising focus of consumers on preventive healthcare products has increased the effectives in production and marketing efforts.

With the rising dependency on the internet and the increasing volatility of the health supplements industry, consumers are becoming increasingly attentive to personalised medicines and care. The internet is one of the crucial mediums for shopping which helps to reduce barriers to access the market.

Market Restraints

The market is exhibiting numerous challenges for the past few years due to the presence of multiple regulations and procedures before the product launch. Manufacturers are bound to submit a sample of vitamins and supplements along with the notification stating that the product is reasonably expected to be safe in the market. The product must undergo testing under the Health and Education Act of 1994 (DSHEA) for a long time which results in the procedural delay in the market. Thus, the tax structure has also increased by 5-10% in the past years and is impeding the market growth.

COVID-19 impact on Japan OTC Vitamins and Minerals Market

The entire supply chain from production to international trade has been impacted. The economic crisis due to COVID-19 is also impacting by disrupting distribution networks. The supplements, which are economically important, have a fragile supply chain and failure in any stage of the supply chain from farms to dealers, haulers and distributors to manufacturers-can disrupt the entire chain.

Competitive Landscape

Key Players

Some of the key players in the market include:

Amway
Abbott
Bayer AG
Glanbia plc
GlaxoSmithKline plc
Herbalife International of America, Inc.
Nu Skin
NOW Foods
Bright Life Care Private Limited
Sun Pharmaceutical Industries Ltd.
Nature's Sunshine Products, Inc.
Nutra Essential OTC
The Nature's Bounty Co.
Arkopharma Laboratories
Products in Pipeline

Nutrition plays an important role in maintaining immune system balance, and supplementation with the micronutrients such as vitamins C and D, Zinc and omega fatty acids within recommended upper safety limits is a safe, effective and low-cost strategy to help support optimal immune function in patients fighting COVID-19 and other respiratory tract diseases. In the case of COVID-19 patients, a variety of high-protein and fibre foods, including cookies, bread and rolls, have been developed by the Indian Research Institute.

Notable Recent Deals

In April 2020, American Regent Inc., a US manufacturer of pharmaceuticals for human and veterinary use with manufacturing sites in New York and Ohio, acquired Daiichi Sankyo for an undisclosed amount. This acquisition increases American Regent's production and provides the opportunity to explore other products to manufacture, allowing the company to continue to find innovative ways of responding to customer needs. Daiichi Sankyo is a pharmaceutical company with its corporate origin in Japan.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

In Japan, the Ministry of Health, Labor and Welfare (MHLW) oversees the safety and import regulations. The Consumer Affairs Agency (CAA) administrates rules covering claims for foods

Japans health claims system for foods, is complex. Food products classified in the following three categories are permitted to make function claims on their labels:

Foods for Specified Health Uses (FOSHU): These are foods officially approved to claim their physiological effects on the human body.

Foods with Nutrient Function Claims (FNFC): These are foods that are labeled with the functions of 20 nutritional ingredients (e.g., vitamins, minerals and fatty acid).

Foods with Function Claims: These are foods labeled with function claims based on scientific evidence under the business operators responsibility.
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Japan OTC Vitamins and Minerals Market Analysis Segmentation

By Type:

When it comes to oral medication, capsule performs decently in the vitamins and supplements industry due to its properties of digestibility and dissolvability in the gut tract. Capsules tend to break down rapidly compared to tablets and are one of the major factors to support its sales. Tablets are the second-largest segment by form and contain additives that hold ingredients of pills together and offer taste and texture to consumers. Thus, it is absorbed by the body more slowly than capsules.

By Application:

Based on Application, the market of OTC Vitamin is divided into Adults, Geriatric, Pregnant Women, Children and Infants

Highlighted Segments of Japan OTC Vitamins and Minerals Market:

Industry Overview: The first section of the research study covers an overview of the global Japan OTC Vitamins and Minerals Market, market status and prospects, and product range. In addition, it provides highlights of the major segments of the global Market, i.e., region, type, and application segments.

Competitive Analysis: This report illuminates important mergers and acquisitions, business expansion, product or service differences, market concentration, the competitive status of the global Japan OTC Vitamins and Minerals Market, and market size by player.

Company Profiles and Key Data: This section covers companies profiling the major players in the global Japan OTC Vitamins and Minerals Market based on the aforementioned revenue, products, business, and other factors.

Market size by type and application: In addition to providing an in-depth analysis of the industry size by type and application, this section provides research on top end users or consumers and potential applications.

Market Dynamics: This report covers the drivers, trends, and opportunities of the global Japan OTC Vitamins and Minerals Market. This section also includes Porter's analysis of five forces.

Findings and Conclusions: It provides strong recommendations for new as well as established players for securing a position of strength in the global Japan OTC Vitamins and Minerals Market.

Prudent Markets provides attractive discounts that fit your needs. Customization of the reports as per your requirement is also offered. Get in touch with our sales team, who will guarantee you a report that suits your needs.

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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global Japan OTC Vitamins and Minerals Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.

Strategic Points Covered in Table of Content of Global Japan OTC Vitamins and Minerals Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Japan OTC Vitamins and Minerals market
Chapter 2: Exclusive Summary - the basic information of the Japan OTC Vitamins and Minerals Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Japan OTC Vitamins and Minerals
Chapter 4: Presenting the Japan OTC Vitamins and Minerals Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the Japan OTC Vitamins and Minerals market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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-An extra edge in the competitive market could be obtained from this elaborative research report
-The report offers all the competitive landscape, growth drivers, applications, market dynamics, and other necessary details as well.

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