Vitamin Supplements Market Unlocking Vitality: Navigating the Growing Demand for Vitamin Supplements in Promoting Health and Well-Being Will Reach at $ 74.58 billion by 2030

Vitamin Supplements Market are becoming more aware of the importance of vitamins for maintaining good health. With increased access to information through the internet and other media sources, consumers are educating themselves about the role of vitamins in preventing various health conditions.

Market Size-
The SNS Insider report indicates that the Vitamin Supplements Market was valued at USD 44.29 billion in 2022, and it is projected to achieve a market size of USD 74.58 billion by 2030, with a compound annual growth rate (CAGR) of 6.73% expected over the forecast period from 2023 to 2030.

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Key Players:
• Glanbia Plc
• Pfizer Inc.
• Good Health New Zealand
• Nature's Sunshine Products, Inc.
• NU SKIN
• The Nature's Bounty Co.
• NOW Foods
• Abbott
• Herbalife Nutrition
• Bayer AG
• Amway Corp.
• GlaxoSmithKline plc.
• RBK Nutraceuticals Pty Ltd.
• American Health, Inc.
• Pharmavite

Market Report Scope -
The actual costs of providing healthcare services, such as the cost of operations, treatments and pharmaceuticals, are health care costs. In poor countries, health care costs are on the rise and they're sky high in advanced economies. Health care costs are going up. Macroeconomic indicators are directly linked to health costs, according to an article in the National Library of Medicine, since increased income levels enable governments to raise more tax revenues.

Market Growth Factors -
Vitamin Supplements Market in order to keep your health and well-being, vitamins are indispensable nutrients in the body. Vitamins have an important role to play in digestion, health, immunity, mental health, and overall healthy functioning of the body. Human health is adversely affected by the compromised quality of agricultural products and foodstuffs, which are unable to meet dietary requirements. The necessary number of vitamins and nutrients is difficult to get from normal food intake. Therefore, in order to achieve the levels of a day's intake of essential nutrients, vitamin supplements should be taken. Across the world, demand for vitamin supplements is on the rise. The post-menopause female population is more susceptible to diseases such as anemia, osteoporosis, osteoarthritis, fibromyalgia, obesity, and depression. According to the World Health Organization (WHO), 18.0% of women above 60 years have osteoarthritis globally, out of which 80% have movement limitations and 25% cannot perform major activities.

Segmentation Analysis -
On the basis of type, the multivitamin supplements market was valued at USD 21.70 billion in 2022 and is expected to grow at a compound annual growth rate of 7.5% over the forecast period. The use of vitamin supplements is supported by an increasing uptake of preventive healthcare products for healthy lifestyles and to reduce the risk of different diseases. In addition, the demand for multivitamin supplements was stimulated by increased consumer awareness of the link between diet and health.

By Type:
• Multivitamin
• Vitamin A
• Vitamin B
• Vitamin C
• Vitamin D
• Vitamin E
• Vitamin K
By Distribution Channel:
• Offline
• Hypermarkets/Supermarkets
• Specialty Stores
• Others
• Online
By Form:
• Powder
• Tablets
• Capsules
• Softgels
• Others

Key Regional Development -
In 2022, North America represented 35.8% of global revenue and is estimated to grow at a compound annual growth rate of 4.1% from now on. The prevalence of obesity and lifestyle-related diseases has risen in North America. Consequently, functional foods and supplements which provide a wide range of health benefits above and beyond basic nutrition are becoming increasingly popular with the general public. Consumption of products containing additives, enrichment and improvement in combination with nutrition supplements. Between 2023 and 2030, the Asia Pacific region is expected to grow at a compound annual growth rate of 11.2%. As key players adopt strategies such as the introduction of their brands into the untapped economies of the Southeast Asian countries, demand for vitamin supplements in the Asia Pacific region is expected to increase. In view of their large population and rising consumption, Asia Pacific is the largest market for vitamin supplements in China, India and Japan. Increased awareness has been achieved in countries like Japan and Australia.

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Key Takeaway
In the foreseeable future, a growing elderly population in advanced and emerging economies is expected to give market participants attractive growth opportunities. The main market for vitamin supplements is the elderly population. In order to meet their nutritional needs and build up bones, they will need supplements of vitamins. Better Health Channel of the Australian government stated that Vitamin E is often singled out as the potential fountain of youth. Due to the growing elderly and children's populations worldwide, consumers are spending more on vitamin supplements. Competition on the market has increased as a result of over production of vitamin supplements; therefore, legislation and regulations have been revised by various food standards and governments. As a result of customers' increasing interest in preventive healthcare products, the effectiveness of production and marketing activities has also been increased. Manufacturers are rapidly integrating cuttinged products to support these products.

Recent Developments -
In August 2022, MD Pharmaceuticals, a Singapore-based healthcare distributor, has developed a new vitamin D supplement known as Rapid-D with DSM. This collaboration will contribute to the expansion of the vitamin market in Asia Pacific for DSM and to the capture of the customer base.
In March 2022, Farbest Tallman Brands was appointed by ZMC as its sole distributor in North America for Beta Carotene 1% & 22%. Two specific products in the Beta Carotene portfolio will benefit from Farbest's exclusive partnership with ZMC in North America. The vitamin A content of Betacarotene oil is 366,740 IUs.

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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of Ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. Global Vitamin Supplements Market segmentation, By Type:
9. Global Vitamin Supplements Market segmentation, By Distribution Channel:
10. Global Vitamin Supplements Market segmentation, By Form:
11. Global Vitamin Supplements Market, by region/ country
12. Regional Analysis
13. Company Profile
14. Competitive Landscape
15. USE Cases and Best Practices
16. Conclusion

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Akash Anand - Head of Business Development & Strategy
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