Press release
Vitamin Tonics Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends
The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.Vitamin Tonics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $10.93 billion In 2028 At A CAGR Of 5.5% :
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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Vitamin Tonics Market Major Segments
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
Key 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.
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Prominent Trend - Leading Companies In The Vitamin Tonics Market Embrace Innovation With Calcifediol Products
Major companies operating in the vitamin tonics market are focused on developing innovative products, such as calcifediol products, to drive revenues in the market. Calcifediol belongs to a group of medications known as vitamin D analogs. For instance, in March 2021, Royal DSM, a Netherlands-based science-based company in nutrition, launched Ampli-D in Asia-Pacific. Ampli-D is an advanced and potent form of vitamin D, clinically proven to increase vitamin D levels three times faster than other forms of vitamin D. This product is used for the rapid enhancement of vitamin D levels in the body, achieving results in just a few days or weeks rather than months. This launch underscores DSM's commitment to innovation and its role as a collaborative partner.
Vitamin Tonics Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the vitamin tonics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vitamin tonics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Vitamin Tonics Market Report Structure
3. Vitamin Tonics Market Trends And Strategies
4. Vitamin Tonics Market - Macro Economic Scenario
5. Vitamin Tonics Market Size And Growth
…..
27. Vitamin Tonics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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