Press release
Vitamin Tonics Market Opportunities, Strategies, Size, Share And Analysis 2024-2033
Vitamin Tonics Market
The Business Research Company offers in-depth market insights through Vitamin Tonics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The vitamin tonics market size has grown strongly in recent years. It will grow from $8.29 billion in 2023 to $8.81 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to consumer awareness and education, lifestyle changes, distribution channels, regulatory environment, demographic trends .
The vitamin tonics market size is expected to see strong growth in the next few years. It will grow to $10.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to global health trends, e-commerce growth , customization and personalization, environmental sustainability, health and wellness apps. Major trends in the forecast period include emphasis on immune health boosters, shifting consumer preferences towards sustainable packaging, integration of technology in product marketing and distribution, rising demand for vegan and plant-based vitamin tonics, influencer and celebrity endorsements impacting consumer choices..
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Market Segmentation:
The vitamin tonics market covered in this report is segmented -
1) By Product: Syrup, Capsules, Tablets, Multivitamin Injections
2) By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, Online Pharmacies
3) By End User: Adult, Children, Elderly
Major Driver - Rising Incidence Of Chronic Diseases Fuels Growth In The Vitamin Tonics Market
An increasing number of chronic diseases is expected to propel the growth of the vitamin tonics market going forward. Chronic diseases are conditions that last for a long time, generally three months or more, and require ongoing medical attention, limiting activities of daily living, or both. Vitamin tonics prevent and treat several deficiency conditions in chronic diseases such as rickets, osteomalacia, angular stomatitis, and anemia. For instance, according to a study published in the Journal of Hematology and Oncology, a US-based oncology journal, the number of people in the United States aged 50 years and older with at least one chronic disease is estimated to increase by 99.5% from 71.522 million in 2020 to 142.66 million by 2050. Therefore, an increasing number of chronic diseases are driving the growth of the vitamin tonics market.
Competitive Landscape:
Major companies operating in the vitamin tonics market report are BASF SE, The Procter & Gamble Company, Merck & Co. Inc., Bayer AG, Abbott Laboratories, Royal DSM, Amway Corporation, Scotch Industrial Thailand Co. Ltd., Lloyds Pharmacy, LloydsPharmacy, GNC Holdings Inc., Rexall Pharmacy Group Ltd., Jamieson Laboratories Ltd., Sapiens Pharmaceuticals Ltd., Blackmores Ltd., Raptakos Brett Co. Ltd., Himalaya Drug Company, Thone Heathtech, Nature's Way Products LLC, Albert David Limited, Albert David, Vitabiotics Ltd., Cerebos Ltd., Biotics Research Corporation, Douglas Laboratories, New GPC Inc., Tonic Vitamins, Vitane Pharmaceuticals Inc., Fitzroy International, Xinfa Pharmaceutical Co. Ltd.
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