Uncovering Market Dynamics of Multivitamin Capsules And Tablets Industry

The multivitamin capsules and tablets market size has grown strongly in recent years. It will grow from $27.1 billion in 2023 to $28.82 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to increased health consciousness, growth and expansion of the pharmaceuticals industry, growth in the dietary supplements, increased healthcare expenditure, and rising health concerns associated with the covid-19 pandemic.

The multivitamin capsules and tablets market size is expected to see strong growth in the next few years. It will grow to $36.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to product launches, rising consumption of sports-based nutritional supplements and increasing geriatric population. Major trends in the forecast period include product launches, rising consumption of sports-based nutritional supplements and increasing geriatric population.

Market Overview -
Multivitamin capsules and tablets refer to multivitamin drugs that are used to treat or prevent vitamin deficiencies brought on by a poor diet, specific diseases, or pregnancy. Vitamins are crucial for maintaining your health because they serve as the body's building blocks. Multivitamins tablets and capsules are a combination of many different vitamins that are normally found in foods and other natural sources

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Surge In Health Consciousness Propels Growth In Multivitamin Capsules And Tablets Market, Fueled By Covid-19 Pandemic Concerns
Increasing health consciousness among individuals is driving the market for multivitamin capsules and tablets. Multivitamins tablets or capsules are often prescribed by doctors to treat or prevent vitamin deficiency due to poor diet, certain illnesses, or during pregnancy as they contain different vitamins that are normally found in foods and other natural sources. The demand for multivitamins also increased attributing to rising health concerns associated with the COVID-19 pandemic. For instance, according to a survey result published in January 2021 by Public Health England (PHE), an England-based government agency for health and social care, a survey of more than 5000 adults showed that 7 in 10 adults were motivated to make healthier lifestyle changes owing to COVID-19 pandemic while 8 in 10 adults aged over 18 decided to alter their lifestyle in 2021. Around 43% of adults feel more motivated to make changes to their lives as compared to last year. Therefore, rising health consciousness is expected to drive the multivitamin capsules and tablets market during the forecast period.

Competitive Landscape -
Major companies operating in the multivitamin capsules and tablets market report are Abbott Laboratories, Otsuka Holdings Co., Glaxosmithkline Plc, Herbal Life Nutrition, Bayer, Natures Bounty Co., Glanbia Plc, Nu Skin Entreprises, Arkopharma, Nutramarks, Nestle S.A, Usana Health Sciences Inc, Cipla Ltd, Lasons India Pvt. Ltd, VOOST, Berocca, Blackmores, Swisse, Nature's Way, Centrum, Cenovis, MuscleBlaze MB-Vite, HK Vitals, Rainbow Light, One A Day Men's Multivitamin, CSPS Pharmaceutical, Zhejiang NHU, G&G, Simply Supplements, Evolution Organics, Nutri-Link, BioCare, Naturex, Microphyt, Ynsect, Olygose, VTF, Solgar, Evalar, Biovea, Mcepharma, Terezia, Archer Daniels Midland Company, Herbalife Ltd, NBTY, Inc, Forever Living, Grupo Omnilife, Shaklee Corporation, American Health Inc, Atrium Innovations, Pfizer, Inc, NOW Foods, HealthVit, Nature Made, GNC Holdings, Inc, Merck KGaA, Ascendis Health, Inova Pharmaceuticals, Vital Health Foods, Vitabiotics Ltd, Adcock Ingram, SA Natural Products, Beauty Gen, BSN, Grenade, Nature's Nutrition, NPL, PharmaFreak.

Growing Preference For Flavored Gummy Vitamins Drives Transformation In Multivitamin Capsules And Tablets Market
Shifting consumer focus towards flavored gummy vitamins for all ages is shaping the multivitamin capsules and tablets market. Consumers are searching for more convenient and entertaining supplement experiences, which will lead to a move toward flavored gummy vitamins. For instance, in April 2021, Persona Nutrition, a US-based company that provides personalized daily supplement packs launched daily gummy vitamin packs for the entire family. These daily packs are designed to help users achieve specific health goals, such as immune health, focus, relaxation, everyday support, and hair, skin, and nail health. This family pack includes multivitamins to boost muscle and nerve function.

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Key Segments -

The multivitamin capsules and tablets market covered in this report is segmented -

1) By Type: Multivitamins Tablets, Multivitamins Capsules
2) By Distribution Channel: Store Based, Non-Store Based
3) By Application: Energy & Weight Management, General Health, Bone & Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer, Other Applications
4) By End User: Adults, Geriatric, Pregnant Women, Children, Infants

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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