Vitamin and Mineral Supplement Industry to Reach Nearly USD 99.7 Billion by 2034 at a 5.4% of CAGR

The global vitamin and mineral supplement market, valued at approximately USD 55.6 billion in 2023, is poised for steady growth, according to recent industry projections. With a compound annual growth rate (CAGR) of 5.4%, the market is expected to expand to USD 99.7 billion by 2034. This robust growth underscores the increasing demand for dietary enhancements as consumers prioritize health and wellness.

In 2023, vitamin and mineral supplements comprised 32.6% of the broader valued at USD 152.8 billion. This figure highlights the significant role these products play within the health industry. As more individuals incorporate supplements into their daily routines, this segment's share is anticipated to rise further.

Driving this surge is heightened consumer awareness of the health benefits associated with vitamins and minerals. From boosting immunity to supporting overall well-being, these supplements are increasingly viewed as essential for maintaining a healthy lifestyle. Manufacturers are responding by expanding product lines and exploring innovative delivery formats to meet diverse consumer needs.

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Key Takeaways:

The global vitamin and mineral supplement market will grow from USD 55.6 billion in 2023 to USD 99.7 billion by 2034 at a 5.4% CAGR.
Currently, it represents 32.6% of the USD 152.8 billion with expectations for an increased share.
Growth is driven by rising health consciousness and demand for immunity-boosting products.
Companies are diversifying offerings to cater to varied consumer preferences, bolstering market momentum.

Key Factors Expected to Drive Vitamin and Mineral Supplement Demand

Increasing prevalence of chronic diseases and micronutrient deficiencies
Growing interest in preventive healthcare
Rising geriatric population
Booming e-commerce and rising consumer inclination toward purchasing through online mode
Growing demand for functional foods and beverages
Increasing healthcare costs
Rising government initiatives to promote public health and nutrition
High usage of vitamins and minerals in nutritional supplements, sports nutrition, and nutraceutical products
An optimistic multivitamin market growth projection

A Full Report Overview - https://www.futuremarketinsights.com/reports/vitamin-and-mineral-supplement-market

Key Vitamin and Mineral Supplement Market Trends

Rising health and wellness trends

Increasing awareness about the importance of gut health, coupled with growing demand for probiotic supplements
Growing preference for natural and organic products
Escalating interest in immunity-boosting products
Surging popularity of food fortification, along with growing consumer demand for fortified foods
Increasing demand for personalized nutrition

Key Companies Profiled

Pharmavite LLC; Salus-Haus; Puritan's Pride; General Nutrition Centers Inc.; Webber Naturals; Pfizer Inc.; DSM; Daiichi Sankyo; CSPC Pharmaceutical Group; Hainan Yangshengtang, Eisai; Jamieson; Sanofi China; Dabur India Limited; Herbalife International India Pvt. Ltd.; Amway India Enterprises Pvt. Ltd.; Himalaya Drug Company; Abbott India Limited

Global Pharmaceuticals Industry Analysis: Market Forecasts, Competitive Landscape, and Key Players Across 20+ Countries - https://www.futuremarketinsights.com/industry-analysis/pharmaceuticals

Vitamin and Mineral Supplement Market Segmentation

By Product:
Vitamins
Minerals

By Form:
Tablets
Capsules
Powders
Others

By Distribution Channel:
Pharmacies & Drug Stores
Hypermarkets and Supermarkets
Others

By Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa

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This release was published on openPR.