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Vitamin and Minerals Market Insights, Competitive Analysis, Latest Trends, And Forecast To 2033
Vitamin and Minerals Market Insights
The Business Research Company offers in-depth market insights through Vitamin and Minerals 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 and minerals market size has grown strongly in recent years. It will grow from $67.64 billion in 2023 to $73.08 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to increasing health awareness, aging population trends, lifestyle and dietary changes, preventive healthcare practices, fitness and sports nutrition trends.
The vitamin and minerals market size is expected to see strong growth in the next few years. It will grow to $99.22 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to plant-based and specialty diets, increased focus on immune health, elderly population health management, women's health and prenatal nutrition, personalized nutrition and wellness trends. Major trends in the forecast period include innovative delivery formats, natural and clean label products, nutricosmetics market growth, age-specific supplements, sports and fitness nutrition.
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Market Segmentation:
The vitamin and minerals market covered in this report is segmented -
1) By Type: Multivitamin, Single Vitamin, Multi Mineral, Single Mineral
2) By Application: Energy And Weight Management, General Health, Bone And Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer, Other Applications
3) By Distribution Channel: Pharmacies ANd Drug Stores, Supermarkets And Hypermarkets, Online Channels
4) By End-User: Adults, Geriatric, Pregnant Women, Children, Infants
Major Driver - The Role Of Dietary Supplemen*ts In Supporting Immune Health And Driving Growth In The Vitamins And Mineral Supplement Market
The growing use of dietary supplemen*ts in the modern lifestyle is a key factor driving the growth of the vitamins and mineral supplement market. 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 fibrous foods, including cookies, bread, and rolls, have been developed by the Indian Research Institute. For example, to improve children's immunity, dietary supplemen*t company Avida Health has launched a chocolate ball functional food in Singapore. A nutritional focus on the immune system could help minimize the impact of the current COVID-19 pandemic and other infections. Therefore, the implementation of dietary supplemen*ts in the lifestyle is expected to drive the vitamins and mineral supplement market growth.
Competitive Landscape:
Major companies operating in the vitamin and minerals market report are Pfizer Limited, BASF Aktiengesellschaft., Bayer AG, Abbott Laboratories, Glaxosmithkline PLC, Suntory Holdings Ltd, Otsuka Holdings Co. Ltd, Daiichi Sankyo Company Limited, AMWAY India Enterprises Pvt. Ltd, Salus Haus, Nestle Health Science, Lonza Group, Eisai Co. Ltd., Glanbia PLC, DuPont Nutrition & Health, CSPC Pharmaceutical Group, The Bountiful Company, JamiesonWellness Inc, Pharmavite LLC., Nature's Bounty Co., Sanofi India Limited, General Nutrition Centers Inc., General Nutrition CentersInc., Puritan's Pride, CCMP Capital, Webber NaturalsPharmaceuticals Ltd., Webber Naturals, DSM Nutritional Products AG, Hainan Yangshengtang, Hainan Yangshengtang, Archer Daniels Midland, Cargill Incorporated, Glanbia Nutritionals, Herbalife Nutrition Ltd., Naturex (Part of Givaudan), NOW Health Group, Probiotics International Ltd, Vitabiotics Ltd.
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Top Trend - Growing Consumer Shift To Organic Supplements A Notable Trend In The Vitamins And Mineral Supplement Market
The consumer preference toward organic supplements is a key trend in the vitamins and mineral supplement market. For instance, in December 2022, according to the United States Department of Agriculture, a US-based government agency, total sales of organic products in the United States reached $11.2 billion in 2021, representing an increase of $1.28 billion from the previous year. Many small and medium enterprises have started to promote plant-based goods and diets in the product space. The coronavirus pandemic is accelerating the trend for organic food supplements.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Vitamin and Minerals Market Characteristics
3. Vitamin and Minerals Market Trends And Strategies
4. Vitamin and Minerals Market - Macro Economic Scenario
5. Vitamin and Minerals Market Size And Growth
…..
27. Vitamin and Minerals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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