Vitamins & Minerals Market to Surpass USD 29.45 Billion by 2030, Fueled by Health Consciousness

"According to SNS Insider, the Vitamins & Minerals Market valued at USD 10.17 billion in 2022, is poised to reach USD 29.45 billion by 2030, with a projected CAGR of 6.9% from 2023 to 2030"

Market Report Scope
The vitamins and minerals market encompasses products designed to enhance the health and wellness of individuals. These products, available without a prescription, come in various forms such as tablets, powders, or liquids, providing essential nutrients and minerals necessary for maintaining or improving health. The market includes multivitamins, single vitamins, multi-minerals, and single minerals. With a positive outlook in end-user sectors, driven by rising consumer awareness and increased purchasing power in the Asia-Pacific region, the market is poised for steady growth.
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Major Players Listed in this Report are:
- AMWAY
- Eisai
- Sanofi
- GNC
- CSPC Pharmaceutical Group
- DSM
- Otsuka Holdings Co. Ltd
- Puritan's Pride
- Pharmavite
- Jamieson.

Market Analysis:
The SWOT analysis of the Vitamins & Minerals Market reveals robust opportunities for growth. With increasing consumer awareness about health benefits, coupled with advancements in distribution channels like online platforms, the market is primed for expansion. Moreover, the market's dominance in various segments such as Vitamin C and food & beverage applications further augments its growth potential.

Segment Analysis
In the Vitamins & Minerals Market, Vitamin C dominates due to its widespread application in various industries, particularly in food & beverage and pharmaceuticals. This dominance is attributed to its essential role in boosting immunity, which gained significant traction amid the COVID-19 pandemic. Furthermore, the food & beverage segment leads in terms of application, driven by the growing demand for functional foods and fortified beverages.

By Type:
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin E
- Calcium
- Iron
- Magnesium
- Zinc
- Others

By Application:
- Food & Beverage
- Supplements
- Pharmaceuticals
- Animal Feed
- Others

By Distribution Channel:
- Pharmacies and Drug Stores
- Supermarkets and Hypermarkets
- Online Channels

By End-User:
- Adults
- Geriatric
- Pregnant Women
- Children
- Infants

By Form:
- Capsule
- Tablet
- Powder
- Liquid/Gel

Impact of Russia-Ukraine War:
The Vitamins & Minerals Market is expected to witness disruptions due to the Russia-Ukraine war, primarily in the supply chain. With geopolitical tensions affecting trade routes and access to raw materials, the market may experience price fluctuations and supply shortages, impacting overall growth.

Impact of Economic Slowdown:
The Vitamins & Minerals Market is resilient to economic slowdowns to some extent, as consumers prioritize health and wellness even during challenging economic times. However, reduced disposable incomes may lead to a shift towards cheaper alternatives or a decrease in discretionary spending on supplements, affecting market growth to some extent.

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Key Regional Developments:
North America emerged as the largest market for vitamins and minerals supplements in 2021, driven by a health-conscious population and robust distribution networks. Meanwhile, the Middle East presents significant growth opportunities, fueled by rising disposable incomes and increasing awareness about preventive healthcare practices.

Key Takeaways:
- The Vitamins & Minerals Market is poised for exponential growth driven by increasing consumer awareness and the growing trend towards preventive healthcare.
- Dominance in key segments like Vitamin C and food & beverage applications highlights the market's potential for expansion.
- Geopolitical tensions and economic slowdowns may pose challenges but are unlikely to impede the market's long-term growth trajectory.

Recent Developments:
Recent trends indicate a shift towards organic and vegetarian food products, accelerated by the COVID-19 pandemic. As consumers become more conscious of their dietary choices, there is a rising demand for natural and plant-based supplements, propelling the growth of the vitamins and minerals market.

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Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US)

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

This release was published on openPR.